One of the key elements involved in launching a new franchise program is developing and defining a solid franchise marketing program. Like lining up a putt for a finishing shot, taking aim and developing a solid marketing program is critical to having a successful franchise launch.
A good franchise marketing plan should be developed by franchise consultants who have worked in franchise sales and franchise marketing themselves. In developing a good franchise marketing plan, franchise consultants need to have lived and breathed franchise sales themselves. The process of marketing and selling a franchise is unique. Although Sales is Sales, the process of qualifying and developing franchise candidates is much different from any other marketing and sales process.
A good franchise consultant should first develop a realistic, yet defined buyer profile who fits the character and model of someone who could be successful in operating the particular business concept. The franchise buyer profile should not be too limiting, but also should be accurate in what is needed to make a successful franchisee. This buyer profile should include demographics, capital requirements, character traits, personalities and work experience. After this profile has been defined, the marketing program should honor and respect this buyer profile and remain consistent throughout the execution of the franchise marketing program.
The Franchise Marketing Program should then define a media buying schedule. Again, a good franchise consultant who has been involved with the franchise marketplace for some length of time and has a good understanding for the different franchise lead generation techniques should be able to develop this program for efficient and effective lead generation. The franchise consultant should be able to help you keep your cost per lead at or below $30 per lead. It is important to manage the cost of the lead generation while weighing the effectiveness and closing rate of those leads.
A good Franchise Marketing program should also define and plan out a diverse lead generation program. This should include a mix of franchise trade shows, Internet lead generation, Franchise Broker relationships, Print Marketing, Franchise PR work and other alternatives. One thing is for certain, franchise marketing is never precise, it requires a plan that can be nimble and adjust when needed. Again, franchise consultants should have experience working in the franchise marketing field to develop and identify good market opportunities for a new franchise offering.
FMS is a team of expert franchise consulting professionals based in Canada that provides solutions for franchise development, franchise consultation, and expansion of businesses globally.