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.
The first step to using data to promote your franchise is finding useful statistics. Let’s use Sylvan Learning as an example. Over the years, Sylvan has conducted a wide variety of research to better understand its position in the marketplace, trends, and more. This research provides lots of data that you can pull from in order to support most of your own franchise marketing claims
When you can quantify your marketing messages with hard numbers, people are far more likely to believe and trust those messages. That means they’ll be far more likely to act on those messages (i.e., call you, make a purchase, etc.). A quick visit to the Sylvan Learning website home page provides five pieces of data that you could easily use to promote your own franchise:
1. Brand Awareness
Data Point: Sylvan Learning franchises enjoy 94% brand awareness, which is the strongest in the tutoring industry.
This piece of data not only tells you that when you own a Sylvan Learning franchise, you’ll have a much easier time getting customers (because it’s always easier to get customers when they’re already familiar with your brand name than it is to sell a brand they’ve never heard of before), but it also gives you a fact that will instill trust in consumers’ minds thereby attracting more customers. Why? The answer is simple.
People perceive brands that are well-known (barring any negative experiences with those brands) as more trustworthy and a safer choice than brands they’re not familiar with. That’s why new brands have to spend so much more money in marketing to build brand awareness. Therefore, sharing the 94% brand awareness statistic in your sales and marketing messages gives people peace-of-mind that Sylvan Learning is a solid company to buy from.
2. Market Share
Data Point: Sylvan Learning has the highest market share of all paid tutoring brands.
This data point shares an incredibly important message. Since Sylvan Learning is the most popular brand with the most customers in its market, it can be deduced that more people trust it than any other brand.
Consumers are more likely to purchase from a brand that they know a lot of other people already use and are happy with. If more people are choosing Sylvan than any other brand, it’s safe to assume they’re happy with it.
Data Point: Sylvan Learning has 30 years of great results for students.
Brand longevity matters when people are making purchase decisions, particularly when the products and services they’re buying are expensive (or more than the equivalent to pocket change). When you tell prospective customers that Sylvan Learning has been operating successfully to help students for three decades, it tells them two things.
First, this company isn’t going anywhere in the near future. Second, this brand must be doing something right if it has been around for 30 years. Both of these messages are very important to make consumers feel secure in their purchase decisions.
Data Point: Sylvan Learning has more than 5,000 school relationships.
Here is another example of a data point that creates peace-of-mind in consumers’ minds and quantifies brand trust. Consumers will see this message and instantly understand that Sylvan Learning must be good if 5,000 schools are working with the company in some capacity.
This data point also tells consumers that Sylvan Learning is on the pulse of current educational processes and requirements. That means consumers can be confident that their children will learn the right things and in the right ways at Sylvan. In other words, what they learn at Sylvan Learning will transition seamlessly to the work they do in their classrooms.
Data Point: Sylvan Learning students see up to 2-3 times more growth in math and reading scores than other students. For example, the expected growth for math is 19.8%, but Sylvan Learning students experience actual growth of 43.5%. The expected growth for reading is 23.0%, but Sylvan Learning students experience actual growth of 65.7%.
This data point is filled with possibilities to create sales and marketing messages for your franchise. Most importantly, you can easily quantify not only how a child should improve to his or her parent but also, how much better he or she could improve if the parent chooses Sylvan Learning rather than another company or tutoring option. Nothing convinces a consumer to choose one brand over another more than seeing hard evidence that shows why one brand is quantifiably better than the other.
Your Next Steps
Next time you need to discuss why your franchise is the right choice with a customer, have your list of data points ready. Identify what barriers are keeping the customer from saying, “Yes,” and buying. Use your data to boost brand trust and give consumers peace-of-mind that by choosing to buy from your franchise, they’re making the best decision possible.