How To Market Your New Business
When you turn into a franchisee, there are various things that you are required to do by-the-book. You have to maintain the look of the store including its theme and decor. The services too that are being offered by your franchisor need to be retained. You will have little say in the national level advertising program of the franchisor. Moreover, you are supposed to follow the rules and regulations of its promos and contests. But there is one area where you will be in absolute control and that is the local marketing plan of your products/services. This is one such department that helps in distinguishing one first-rate franchisee from a mediocre one.
The base of your marketing program will be laid by the franchisor in the training weeks. The ideal franchisor will teach you how to judge a market and create an effective promotional plan. It is more important for a new entrant than an established player. The new franchisee has to generate great curiosity and hype among the local population before the grand opening. At first, he ought to know his target customers and only then, he can successfully market his products/service in that area. For example, if he is running a child-educational franchise, meeting local schools authorities and giving demonstrations in front of the children is definitely a good idea. If your product/concept is for affluent, brand-conscious households, then direct-mail services or advertisements in local TV stations/radio can be effective marketing means. But if your product/concept is for the masses, then flyers, handbills or something that says people will get full-value for their money will be better.
After you have comfortably settled in, you are required to make an annual marketing plan for your business. This is one area where quite a number of franchisees make blunders. They leave the entire decision on the franchisor. But that is a grave mistake, because the franchisor will make a plan, which will suit everybody. Here, the franchisee is supposed to tweak it according to the local taste and situation. What works in a big city may not always work in a small town. Hence, plan your marketing plan according to your locality. Even the franchisor won’t mind accepting your plan (provided it is feasible!). In fact, of late major chains are wooing their customers by going local. Various food-chains in particular are gearing up in order to incorporate local flavors in the store. So, “be global but think local” has become the mantra for today businesses!
If you want to know more on this topic, make contact with the associates of brandEXPANSION.