In the marketing world, everything is about data these days. Marketers can track almost everything to the finest detail and calculating return on investment has become both easier and more complex at the same time. It’s an interesting and often confusing dichotomy, but data doesn’t always have to be intimidating. If you’re not a data whiz, you can still use data to promote your franchise, gain new customers, and increase revenue.
When you start a franchise business, you’ll get a lot of help to make sure it’s successful. However, there are some key things you need to know and commit to or your success will be limited. Five of those key things are covered below to help you get on the right path to successful franchise ownership.
Franchising is an excellent way to start a business without having to do everything yourself. Let’s face it. Starting a business is a daunting task. From legal and finance to marketing and human resources, you’ll be diving into areas that might not be your expertise. Franchising makes things a lot easier.
Candice DeVane is the new owner of a Sylvan Learning franchise in San Diego, California, but she didn’t always work in education. And she’s never owned a business before. That didn’t stop her from leaving a successful engineering career and moving across the country to pursue her dreams of educating children as a Sylvan Learning franchisee.
I had the opportunity to ask Candice how she seamlessly made the shift from Corporate America to franchise owner with a smile on her face (and moving to the other side of the country as she did it). Here’s what she told me:
What do you imagine when you think of your favorite brand? Most likely, you trust that brand to deliver on its promise to you in every experience you have with it. And because you trust the brand to meet your expectations, you choose it over others—even it if costs more or you have to travel further to get it.
Are you leveraging opportunities to increase per-customer sales by upselling additional products or services? To upsell and increase franchise sales, all you have to do is offer related products or services when a customer is actively making a purchase.
For most people, it’s hard to strike up a conversation with a stranger, but as a franchise owner, it’s a skill you rely on every day to grow your business. The franchise owner who is a master conversationalist can rule the room at a networking event. However, if networking is uncomfortable for you, then you need to get prepared and practice before you attend another event.
An email or blog post is only as successful as the number of people who actually click on the headline and read it. The same is true for Facebook updates, tweets, and other social media posts.
You can’t build your franchise unless you increase market share. In other words, you can’t grow your franchise unless you steal some customers from your competitors.
One thing has remained constant in marketing since the earliest days. Word-of-mouth marketing is the most powerful form of promotion that any business can get. Today, word-of-mouth marketing happens in more ways than ever—online, through social networks, through email, in-person, and more—and the opportunity to generate more positive word-of-mouth for your franchise is bigger than ever.