If you truly want to break it down, franchise marketing is all about brand awareness and customer acquisition. By building a base of returning customers and growing as a recognizable and reliable brand, profits and awareness increase. Many small businesses or franchisees believe they have their own in-house secret marketing sauce, but unfortunately, this homemade recipe can lack the support necessary to properly grow the brand. Check out these franchise marketing facts and tips that may surprise you!
1) Twenty-nine percent of franchises or small businesses don’t have a website.
Websites are regularly named the most effective marketing channel for small to medium businesses. However, almost 30 percent of franchises or small businesses do not have a website. That number jumps up to 42 percent for businesses in the Midwest! Websites are necessary for small businesses and franchises of all sizes to increase traffic and promote their products or brand.
2) Almost 71 percent of small businesses do their marketing
in-house, but they’re not happier.
Even though the majority of small businesses do their marketing in-house, businesses that are the happiest with their marketing performance hired outside agencies to handle it for them. Many small business or franchisees simply don’t have enough hours in the day to dedicate to properly marketing their brand.
3) It is essential to track ROI, but more than 18 percent of small businesses track nothing.
Tracking analytics and return on investment (ROI) leads to better targeting and marketing plan development. Through tracking you can see trends, audience details and which tactics are most successful. Understanding your audience is key to growing your business!
4) Put your money where your marketing is.
According to the Small Business Administration, many businesses are only allocating between 2 and 3 percent of their budget for marketing, when in reality it should be closer to 7 or 8 percent. This difference in money allocated for marketing can be catastrophic for a company, especially during a new business or product launch.
5) Your (online) reputation is all you have.
Ninety-one percent of consumers ages 18 to 34 years old trust online reviews as much as personal recommendations and 86 percent of consumers read local business reviews. One negative review, or even a lack of reviews can negatively impact your business. In fact, consumers read an average of 10 online reviews before trusting a small business or franchise!
6) Just having social media sites isn’t enough.
Find out what platforms your audience is most active on and consistently post content they are interested in! Up to 30 percent of consumers might not buy from a company without a social media presence, so posting relevant content regularly leads customers to become more engaged with your business.
7) Make sure your social media ads are relevant.
Social media advertising is much more than just creating an ad. Many small businesses or franchisees believe it is more effective to have a lot of people see your ad instead of a small, targeted group of people, but this can quickly lead to expensive campaigns and low conversions. Aspects such as target audience development, optimization and tracking are key to developing and monitoring successful, budget-friendly campaigns.
Franchise Marketing Support
Between website design, search engine optimization, social media advertising and more, we understand being a small business or franchisee can be overwhelming. If you’re ready to take your franchise or small business marketing from PointA to point B, contact us to learn how we can help make your marketing as unique as you!
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