franchise development - what is the new normal?
DESCRIPTION
Presented at Houston Franchise Business Network meeting in Houston, TX on August 2, 2012.TRANSCRIPT
Franchise Development – What is the New Normal? Presented by Paul Segreto
August 2, 2012
Paul Segreto
• 25+ years franchise experience
• Franchise Executive • Multi-unit Franchisee • President FAC
• Consultant & Coach • President & CEO
franchisEssentials • President & CEO
Franchise Foundry
• Founder FranchisEssentials Media Group • Franchise Today – Internet
Radio Show • FranSummit – Virtual Training
Platform • Franchise Essentials Magazine • Personal Branding for Franchise
Professionals
• Active IFA Member & Advocate • Membership Committee • Technology Committee
Let’s start at the beginning…
Check out their eyes!
Today’s franchise candidates are…
More educated
More sophisticated
More technologically advanced
…than ever before!
Today’s franchise candidates are…
More educated
More sophisticated
More technologically advanced
More diligent
More cautious
More anxious
…than ever before!
What does your franchise sales
process look like today?
Is it actually a process?
Is the target audience defined?
Is the process consistent with marketing messages?
Do sales representatives know and understand the messaging?
Is the outlined and official
franchise sales process the actual process being used?
Could your franchise sales process work better?
Is it time for a franchise sales process audit?
Integrate Social Media with Traditional Marketing
Your franchise sales process must have continuity with
your online messaging.
Franchise Social Media is about amplifying your recruitment messaging.
Using Social Media to amplify an inconsistent message and incorrect or non-compliant content will lead to poor results or worse consequences…
What you tweet, post, share, blog, YouTube, IM and discuss in the digital world you can never fully take back the message.
Remember, in the digital world of Social Media, everything you say is for eternity…
Social Media in typical business environments
Social Media in Franchising
Candidate Franchise Sales Rep
Brand
Getting started - Social Media e-IDEA™
• Explore
• Identify
• Develop
• Execute
• Analyze
Social Media e-IDEA™
Exploring different aspects of Social Media – Including Social Networking and key social technology that creates excitement and brand awareness within your industry segment.
Identifying primary and secondary targets – Who will be targeted to purchase and/or visit your franchise locations? How deep do the target groups go and are there collateral groups that can be tapped?
Developing a Strategy and Plan of Action – Customized to specific targets in accordance with franchise development goals and objectives?
Executing the Plan – Putting the plan in motion including monitoring, managing the process including new content and updates. Keep it fresh!
Analyzing & Quantifying the Results – Is it working? Do you continue straight ahead or repeat the process from the beginning? What are actual results in franchise sales and system revenue?
Social Media e-IDEA™
Explore…
Identify…
Understanding Your Targets
• Know who they are – Based upon successful franchisees
– Based upon industry experience
– Based upon specific profession
– Based upon skills
• Know where they are – Based upon where they congregate online
– Based upon where they communicate online
– Based upon their interests
Develop…
• Human Resources
• Training
• Manage & Monitor
• In-house or Outsource
• Budget
• Goals & Objectives
• Policies & Procedures
• Tracking
• Brand Integrity
What are the objectives for using social media for franchise sales?
Increase leads? Keep leads and candidates engaged with your brand? Improve cost per lead and cost per sale? What about current franchisees?
Execute…
• Human Resources
• Training
• Manage & Monitor
• In-house or Outsource
• Budget
• Goals & Objectives
• Policies & Procedures
• Tracking
• Brand Integrity
Candidates expect franchise companies to be Social Media savvy and for franchisors to be active in the digital world.
Today’s consumers & franchise candidates are…
More educated
More sophisticated
More technologically advanced
More diligent
More cautious
More anxious
…than ever before!
Integrated Franchise Marketing
Cross-platform & Multi-tier
Does that mean traditional marketing
should not be utilized?
Does that mean the franchise sales process should change?
Keeping Prospects Engaged
Closing the Sale
Keeping prospects engaged
Franchise sales requires a seamless transition!
Sales representatives must be aware of all online marketing messages
Sales representatives must be aware of all discussions regarding the brand
Sales representatives must be aware sales process may not be A to Z
Sales representatives must be aware franchise compliance still prevails
Sales representatives must be aware people still buy from people
THIS APPLIES TO BROKERS, TOO!
Analyze & Quantify…
Online Brand Management
Google profiles
Google alerts
Brand
Keywords
Per targets
Geo-specific
Online brand audits
Blogging Community
Social Media Metrics
• Volume – The number of comments, blogs, posts, tweets, links, etc., about the brand, the competition, and the industry segment.
• Sentiment – The positive, negative, or indifferent consumer reaction to the brand or a topic, which can be measured by text analytics and natural-language processing.
• Emotion – The reasons that a consumer felt, good, bad, or indifferent that point how the company can resolve his / her problem or how the business can change and improve.
Social Media Metrics
• Topic / Issue – The context (e.g., product, customer service, advertising, competitor, etc.) in which the brand is being discussed.
• Source – Where the conversation is occurring (e.g., Twitter, blog, discussion board).
• Author (Influencer) – The people talking about the brand and their social media impact (e.g. number of followers, readers, comments).
• Virality – The reach of the brand and relevant topics around the brand (e.g., how many people are reading, posting, linking, and sharing).
Before Changing Course…
Two different objectives
For local brand awareness and driving business to franchise units
For regional and national brand awareness and generating interest in franchise concept
Requires different strategies and plans.
However, they may feed off each other!
Additional Benefit
Improving communications and information sharing at all levels of the franchise system
Social Media & Franchise Sales 4 Common Steps
• Share
• Interact
• Engage
• Call-to-Action
I’d love to hear from you!
Paul Segreto CONTACT ME
• 25+ years franchise experience
• Franchise Executive • Multi-unit Franchisee
• President FAC
• Consultant & Coach • President & CEO
franchisEssentials • President & CEO Franchise
Foundry
(832) 838-4822 [email protected]
• Founder FranchisEssentials Media Group • Franchise Today – Internet Radio
Show • FranSummit – Virtual Training
Platform • Franchise Essentials Magazine • Personal Branding for Franchise
Professionals
• Active IFA Member & Advocate • Membership Committee • Technology Committee
www.FMDpro.com www.FranchisEssentials.com