Tuesday, March 19, 2013
Creating an Effective Franchise Growth Strategy
It just comes natural for humans to want the quick solution to the problems we face. We are always looking for efficiencies and improvements in an effort to minimize inconveniences. But sometimes, there aren’t any quick solutions and that is certainly the case when trying to build a successful franchise system.
When it comes to creating a complete system for marketing a franchise brand, there is no one solution. Sure, you can hire an SEO firm to get your website ranked higher or even hire an SEM firm to run a Pay-Pay-Click campaign to generate traffic and franchise leads to your website. Other franchisors work closely with broker networks to bring in new franchisee candidates and many have seen tremendous success going this route. Purchasing franchise leads is also an option. There are dozens of franchise directory portals that will post your franchise information to solicit to their visitors. There’s also pre-screened franchise leads who aren’t married to a specific franchise but want to explore all their options.
Each of these methods, on its own, can successfully generate candidates for a franchisor. But the secret lies in a well-balanced system that utilizes all of the above. The successful franchisors will start with building a very content-rich website and combine it with the use a variety of lead sources. They also use tactics like re-targeting past visitors of their websites, buying pre-qualified franchise leads and also engaging in social media strategies. All in the hope for leads that may eventually turn into franchise candidates.
So consider a balanced approach to attacking your growth strategy. Don’t put all your eggs in one basket and be smart about how you budget your marketing dollars. There is no one magic ingredient. The magic is in the planning, management, and execution of your marketing strategy.