As The Ad Agency for Franchises™, Curious Jane fields many questions about marketing for franchise development. In this blog, we will address some of your most common questions.
- What is the one thing I can do that could impact my franchise development fast?
- How much should you spend on lead generation for franchise development?
- What percentage of the budget should I spend on brand awareness compared with lead generation for franchise development?
- Why should I spend money on franchise development marketing if I can sell units with brokers and consultants, and they don’t charge me until they sell a unit?
- Why do I need PR for franchise development, if my main goal is lead generation?
What is the one thing I can do that could impact my franchise development fast?
Make your website the No. 1 priority. You only get one chance to make a first impression! Think of a time when you visited a website with links that didn’t work or videos that didn’t play. How much time did you spend on that site, and how likely were you to end up using that service or buying that product? Probably not much and not very likely. Your franchise candidates are no different. Invest time and resources to create a dynamic, engaging website. It should answer questions and excite candidates. Make sure the site has a clear call to action. A full-service franchise marketing agency like Curious Jane can help you build a website that converts.
How much should you spend on lead generation for franchise development?
The short, and very technical, answer is, it depends. There are a variety of factors that determine the appropriate amount for your marketing budget. Do you already have solid brand awareness in that market? Are you more focused on generating a higher number of leads or leads that are more likely to convert? Additionally, some markets just cost more than others; New York is always going to be more expensive than Tampa, for instance. It is important to hire a qualified and experienced franchise marketing agency to help you navigate this process. At Curious Jane, we analyze our clients’ current marketing plan, compare that with goals for growth and develop a customized marketing strategy to best meet their needs and fit their budget.
What percentage of the budget should I spend on brand awareness compared with lead generation for franchise development?
Again, the answer to this question will be unique to your situation. If you are well known in the region where you want to expand, then you don’t need to spend as much on brand awareness and you can instead focus on generating leads. However, if you are trying to expand into a new market, then it is crucial to establish name recognition and brand awareness. People need to know who you are and what you do before they will begin to consider your franchise as a potential investment opportunity. When deciding to invest, potential franchisees will start with what they know.
Why should I spend money on franchise development marketing if I can sell units with brokers and consultants, and they don’t charge me until they sell a unit?
It’s important to remember that you are playing the long game. While brokers might bring you some leads, a strategic marketing plan will attract leads while also expanding your business footprint. The more recognizable your brand, the more likely you are to generate leads organically. An experienced franchise marketing agency can help you increase brand awareness while also generating leads for franchise development. This is a smart way to leverage your budget, as we have found this option will save you approximately 50% in the long run.
Why do I need PR for franchise development, if my main goal is lead generation?
This is a very common and important question. PR is a critical component of lead generation – and often, public relations provides great leads. Often, PR for franchise development is largely ignored as businesses pour resources into lead generation on the recruitment side while funding PR on the consumer side.
While there can be overlap between the target audiences for fran dev and consumer campaigns, they are decidedly different – and your messaging to them must be different, also. With franchise development, you are asking people to invest their life savings into your business. They might know that you make a mean hamburger or provide excellent cleaning services, but what do they know about you as an investment option? You need to tell prospective franchisees why you are a good investment. What is the profitability? Do you have third-party validation? What do you offer that other franchisors may not – additional support services, training, etc.? By generating a steady stream of good news through a strategic PR campaign aimed at investors, you stay top-of-mind when prospects are ready to invest.
In our next blog, we will answer the most common questions we hear about consumer marketing.