Franchises contributed about 3% of the gross domestic product in the U.S. during the pandemic. That’s a significant contribution to the national economy.
Franchising is a great way for people to start a business without having to be an expert in every aspect of it. For franchisors, it’s another revenue stream and a way to expand your brand’s footprint while minimizing the risk.
The difficult part for franchisors is finding the right franchisees. There are mistakes in franchise marketing that many franchisors make.
That turns into bad investments and little growth for companies. If you want to maximize your franchise’s potential, you’ll want to keep reading.
These are the top franchise marketing mistakes you’ll want to avoid.
Not Knowing the Ideal Franchisee
You want to create a profile for your ideal franchisee. This prevents you from working with someone who is unqualified or not a good fit with your company.
Who would be the ideal prospect for a senior care franchise opportunity? They’re people who are familiar with senior care facilities. They also have access to cash to pay the franchising fee.
You might require that someone has business experience, or is willing to learn. They see the opportunities in senior care and they want to have their own business.
Little Website Promotion
Marketing franchises online is a big part of attracting franchisees. Social media marketing and paid ads help you find people who fit your ideal franchisee profile.
Promote your website and keep a separate website for franchisees. This gives you a chance to sell your franchise and give a lot of information ahead of time.
Don’t Differentiate Marketing Campaigns
Franchises tend to lump franchise marketing and consumer marketing together. They assume that if you get the brand out there, franchisees will just show up.
You need to treat them as two separate campaigns. Consider the buyer’s journey for each and develop campaigns that align with each journey.
Expect Others to Do the Work
Do you leave all of your franchise marketing to franchise brokers and your sales team? That’s a mistake because they’re contacting cold leads.
Creating a marketing campaign generates warm leads, which can be qualified and sold.
Don’t Have a Clear Sales Process
You probably leave it up to your sales team and franchise brokers to handle the qualification and sales processes. Both rely on sales to make money, so they’re incentivized to sell to people who aren’t a great fit.
It’s up to you to have a clear process to qualify leads. You may need to change your sales incentive structure, but it’s worth it when you have a stable of reliable franchisees.
Don’t Make These Mistakes in Franchise Marketing
Your franchise has a lot of potential. When you avoid these mistakes in franchise marketing, you’ll have a clear idea as to who the perfect franchisee is.
Your business will have separate marketing campaigns for franchisees and consumers. That allows you and your sales team to qualify your leads and get the best franchisees.
For more marketing tips, be sure to check out the other articles on this site.