How to Market a Franchise
A good concept and proven system of success are the basis for a profitable franchise company.
Marketing for a franchise is extremely comparable to getting the word out regarding the business.
In here, we have to remember that without a well-defined marketing approach you will not achieve your goal. Like in any other business, a marketing system for a franchise should be made critically and strategically. Remember that this marketing system can put a great influence on the progress of the franchise business.
A business-related site cites some key factors in a marketing strategy that a franchisee should be more focused on. Brand recognition is said to be a major plus factor in a franchise system, because the brand name stands to be the banner of the products of the franchise. There are only some exceptions in using this brand recognition factor, which is discussed on other business-related sites. An in-depth knowledge of the situation and the overall picture of the market and the customers can also help in building a timely marketing strategy. If the product or service of the franchise is approved or is rated an excellent mark both by customers and experts alike, then that would be another marketing factor. For businesses engaging in the same field of interest, the packaging or cover of the product or service can be a visual tool in making your franchise unique from the others. Franchising also entails the franchisee to exert effort in advertising its products and/or services. There are a lot of ways to advertise, like print ad, television, radio, and of course, the Internet.
Other important factors in marketing a franchise include the implementation of a marketing database, the establishing of a referral system, and the conception of innovative approaches to business. A marketing database is a good observing tool especially in measuring the situation of the business per day – as to what the franchise earned, to how many customers came, and to how many of his or her products or services are availed. A referral system is a testimonial, article, or any form of communication done by customers and complimentary business owners which praise the franchise and its services. Asking the concerned people to write this can also be a form of advertisement. Innovative approaches to business pave way to uniqueness of your franchise among the others.
The way to arrange for a marketing strategy for your franchise depends on the franchisor where you are under and the location of the franchise. Another business-related site has seven suggestions in making a marketing strategy. It is important that we are able to communicate with the franchisor about the plans on putting up a marketing strategy. Activities such as joining business-related organizations and taking part in seminars, symposia, and other gatherings as a guest speaker can also be classified a marketing strategy. Other suggested marketing strategies include sponsoring a gathering or event, utilizing customers as speakers in testimonials or as goodwill agents, writing articles for a newspaper or magazine, and arming your staff with enough training and goodwill so that they can pass on the positive atmosphere to their customers.