One of the big advantages of owning a Franchise is having a recognisable brand name behind you to support your marketing. Big brands are powerful and immediately build credibility for your business. Successful franchisees understand that it is the ability to extend that brand into their local market that really helps drive more enquiry and opportunity specifically to their store. But what is the best way to do this successfully?
The first step all comes back to Marketing 101 – you’ve got to plan.
We all know that planning is vital to achieving specific business goals. It sets a foundation, helps build out a roadmap of action items and keeps you accountable. More than that, planning allows you as a business owner to make informed decisions, to stick to your marketing budget, and to know what you did so you can test and measure. Right now, your parent franchise brand is investing a significant amount into marketing on your behalf, and planning really does help you proactively leverage that investment to drive results for your business.
What kind of planning is needed?
Here at The Markeitng Lab, we break down franchise local area marketing into two distinct types: Strategic and Tactical.
Strategic franchise marketing planning is about understanding your market, understanding your offering and your differentiators, and researching the marketing options available to you in your local area. Armed with this knowledge you are better placed to make good decisions about what specific activities are best for your store at any given time. This type of review should be done every 12-24 months, to ensure that your marketing direction is still aligned to your business goals and the state of the market.
Tactical franchise marketing planning is deciding what actual campaigns you are going to do. Normally taking the shape of a Quarterly or 90 Day Plan, these are the marketing activities that you will undertake to promote your business. Aligned to your marketing budget, this type of planning really does allow for easy activation of marketing, as you know what you need to do and when you need to do it. This is the time you take note of your parent franchise marketing activities, finding ways to extend the power of their marketing investment to drive enquiry into your specific business. When done well, a quarterly or 90 day marketing plan allows you to be consistent, something vital to successful local area marketing.
We know that Franchise owners are busy and planning often becomes something on the to-do list that never gets actioned. The Marketing Lab’s 3 Step Pathway has been designed to help you stay in control and get you from marketing planning through to marketing implementation. Our Local Opportunity Plan (or LOP as we call them) is designed to cover all the relevant local area marketing options for your franchise, and our 90 day and Quarterly plans help you cover off the tactical marketing activities you need to run.
For samples of these plans and more info on The Marketing Lab’s 3 Step Pathway, click here.