Franchising is a popular business model that allows individuals to own and operate a business using an established brand and proven business model. In the United States alone, there are approximately 759,000 franchise establishments, which employ over 8 million people. In fact, franchises make up about 10% of all businesses in the United States!
Unfortunately, there are many myths and misconceptions surrounding franchise marketing that can cause franchisees to make costly mistakes. In this article, we will debunk the five biggest franchise marketing myths and provide valuable insights for franchisees looking to effectively market their business.
The Elements of Franchise Marketing
Franchise marketing is the process of promoting and selling franchises to potential franchisees, as well as marketing the products or services offered by a franchise to consumers. It is an important aspect of the franchise business model, as it helps to attract new franchisees and drive sales for existing franchisees.
One of the main goals of franchise marketing is to build brand awareness and establish a strong, positive brand image for the franchise. This can be achieved through a variety of marketing tactics, such as traditional advertising, digital marketing, public relations, and social media marketing. Franchise marketing also involves creating marketing materials, such as brochures and website content, to showcase the benefits of becoming a franchisee and the products or services offered by the franchise.
Franchise marketing matters because it plays a critical role in the success of a franchise system. Without effective marketing, it can be difficult to attract new franchisees and drive sales for existing franchisees. Franchise marketing helps to establish a consistent brand identity and message, which can be crucial for building customer trust and loyalty. It also helps to differentiate the franchise from its competitors and position it as a leader in its industry.
For franchisees, effective franchise marketing can be especially important because it helps to drive demand for their products or services. This can be especially beneficial for new franchisees who are just starting out and may not have a strong customer base yet. By leveraging the marketing efforts of the franchise system, franchisees can more easily attract new customers and grow their businesses.
The 5 Biggest Franchise Marketing Myths
Myth #1: The franchise brand will handle all of the marketing for me.
Many franchisees believe that the franchisor will handle all of the marketing efforts for their franchise, but this is not always the case. While the franchisor may provide marketing materials and guidelines, it is ultimately the responsibility of the franchisee to execute marketing efforts and drive business to their location. It is important for franchisees to understand the marketing resources available to them and to take an active role in promoting their business.
Myth #2: I don’t need to worry about local marketing.
While national marketing efforts can certainly benefit a franchise, it is important for franchisees to also focus on local marketing. Local marketing allows franchisees to target their marketing efforts to the specific community in which their business is located, which can be more effective in attracting customers. This can include participating in local events, partnerships with other local businesses, and utilizing local advertising channels.
Myth #3: Social media marketing isn’t important for my business.
In today’s digital age, social media marketing is more important than ever for businesses of all sizes.
According to a survey conducted by Franchise Business Review, the most effective marketing strategies for franchises are social media marketing, email marketing, and content marketing.
While it may seem like social media is only relevant for consumer-facing businesses, it can be a powerful tool for franchisees in any industry. By actively engaging with customers on social media, franchisees can build brand awareness and loyalty, as well as drive traffic to their location.
Myth #4: Traditional marketing methods are no longer effective.
While digital marketing has certainly become an important part of any marketing strategy, traditional marketing methods such as print advertising, direct mail, and radio or television commercials can still be effective for franchises. It is important for franchisees to consider the demographics of their target audience and determine which marketing channels will be most effective in reaching them. A well-rounded marketing strategy should include a combination of both traditional and digital marketing efforts.
Myth #5: I don’t need to worry about branding.
Branding is an essential part of any business, and this is especially true for franchises. A strong brand can differentiate a franchise from its competitors and build customer loyalty. It is important for franchisees to adhere to the branding guidelines provided by the franchisor, but they should also consider how they can differentiate their location within the larger franchise brand. This can be achieved through local marketing efforts and by providing excellent customer service and a unique experience for customers.
By understanding the importance of local marketing, the value of social media, the effectiveness of traditional marketing methods, and the importance of branding, the owner will be able to develop a more robust and successful marketing strategy for their franchise business.
