The buyer led age is here – What franchise directors need to know: Are you a ‘Franchise Know It All’?
We live in a world where knowledge is power and the internet has handed it to the consumer on a plate. Generation Z has grown up never knowing anything else other than being able to summon up full information on whatever they are looking to purchase in seconds.
We are now all connected pretty much wherever we are on our mobile devices and computers. So what do franchisors need to know to make sure they attract the right potential franchisees for them?
5 Top Truths
1. There’s no place to hide – The accuracy of search engines individualised to the consumer means that your brand will be found and it is almost impossible to cover up anything but the truth. The days of ‘gaming’ the system are over so franchise brands must make sure that the information available to them is available, accurate and as favourable for buyers as possible.
2. Collective bargaining power is paramount – Just a few poor buyer reviews (or lack of any at all with no explanation) means that your franchise network will be justifiably upset. Any customers of any franchise brand can put pressure on them by voting with their clicks.
3. Get socially interesting – it is no good to simply be on social media. Franchise brands need their social networking and internet marketing to be relevant, fresh and engaging for buyers to take that next step and better still recommend to their friends.
4. Buyers know your voice sounds better – getting somebody else to speak on your behalf can be a convenient way of addressing your marketing. However, it is better to involve your franchise network and their staff with as many stakeholders of the brand talking about you. You will put across your own culture and unique benefits to buyers with a passion and insight like nobody else.
5. Education, Education, Education – all franchise brands will benefit from ensuring everyone involved with their products and services are ‘on the program’. Your franchise organisation needs to reflect the true values of your product from the top to the bottom by educating those in touch with the company daily wherever they are found. What would your brand buyers say and is everyone in your franchise organisation saying it regularly?
Look out for my next franchise marketing article called “Building franchisee sales though social media - An introduction” and read my previous posts here:
Connect with Richard Dancy
Franchise Intelligence Senior Consultant
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