As a franchise business owner, you have a closet full of different hats, some of which have grown as thin as the cliché itself. One hat that rarely fits comfortably is marketing.
Marketing can be a point of contention between you and the franchisor – especially if you contribute to mandatory marketing and advertising funds.
However, having these marketing funds helps franchisees in three major ways:
- Research – Effective marketing campaigns require a great deal of research. By pooling funds, franchisors are able to conduct in-depth surveys and focus groups to better understand consumers. This type of research is expensive and time-consuming, but necessary to run effective marketing campaigns. Even if you understand concepts like buyer personas and marketing funnels, it’s often more effective to allow the franchise to do the legwork in researching and developing the details of a campaign.
- Cost – Marketing and advertising can get expensive quickly. Whether it’s print, digital or online marketing, television or radio advertisements, leveraging the sheer size of a franchise brand, allows the franchisor to make every dollar go further. By pooling resources and developing relationships with agencies and vendors, franchisors are able to afford higher-quality materials for all their franchisees.
- Consistency – Part of the advantage of a franchise business is brand recognition and reputation; it’s what drew you to owning that franchise to begin with. When the franchisor’s marketing team develops campaigns, they’re able to ensure the brand and messaging is consistent across all franchises. Consistent messaging makes for greater customer recognition, avoids diluting the brand and its broader reach can be more successful.
Develop a relationship with your franchisor's marketing team to learn what they are doing to help you so you can focus on what you do best – running a successful business.