Marketing is the key to monetization, so the business gurus say; your product could be the Fountain of Youth, but nobody will buy if they don’t know you’re in business.
The saying holds true on almost any level of the game, whether you’re trying to promote a garage sale or an exciting franchise opportunity. Done right, marketing gets your product, service, or franchise opportunity in front of people who are interested and able to buy, which directly increases your current and future earnings.
So if your franchise development marketing campaign has been feeling more like a money-pit than a money-tree, it’s clearly time to make some adjustments.
In today’s post, we share two proven franchise development marketing strategies that are equally helpful for guiding your first foray or troubleshooting past a plateau.
Pinpoint your target audience with professional tools (or professional help) for better return on your investment
Poor targeting is one of the biggest blunders we see in paid online franchise development marketing. In fact, this one mistake can cut your campaign’s conversions down to a fraction of what they ought to have been. Why waste money getting your ad in front of teenagers or 80-year olds surfing the web in their retirement, the very people who have zero interest in learning more about owning a franchise?
Focusing your marketing on demographics that contain the greatest number of serious prospects should be every franchisor’s goal. This will give every marketing dollar the greatest possible value, placing ads in front of the eyes of people with the motivation and means to start a franchise.
Broadly speaking, the majority of prospect-to-owner transformations have involved men 45 to 54 years of age. Now, that doesn’t mean every franchisor ought to focus their efforts solely on that demographic – franchisee profiles aren’t perfect, and they change dramatically from one industry to another – but this is exactly the kind of information you’ll need to incorporate into your franchise development marketing plan.
Unfortunately, since this blog will be in front of the eyes of franchisors from all different industries, we can’t tell you what your target audience is without speaking to you directly. But that doesn’t make the larger message here any less important: identify your target audience, then focus your franchise development marketing there.
If you intend to locate your target audience on your own rather than working with professionals, we recommend the following tools:
- Google Analytics
Combine paid search and SEO marketing to balance short and long-term franchise development goals
Ongoing SEO work is crucial to stay visible in online searches, which make up the majority of prospects’ research efforts. But drafting quality content, building backlinks, and ranking for keywords takes time. This slow-burn strategy may not be viable on its own for franchisors trying to meet specific franchise development goals.
Franchisors who want immediate results ought to combine SEO with paid campaigns on Google Adwords. Paid ads appear at the top of the search listings for targeted keywords right away, which means your franchise development marketing copy will start getting you results the moment it goes live.
Of course, the success of your campaign will once again come down to your ability to pinpoint your audience. In this case, you’ll want to identify keywords that your target audience is using to find franchise opportunities, then judge whether the cost of each lead is worth the investment.
When managed by a professional team, expect immediate traffic that can lead to sales within weeks.Back