Marketing can make or break your franchise. In a fast-paced world, with competition increasing everyday, learning how to market your business successfully is absolutely essential. That’s what this article is all about. Welcome to Marketing 101.
The advertising and marketing sector is a big one, and it’s grown exponentially in the past ten years. In 2019, 190,000 people were employed in the field of advertising and marketing, a massive 148,000 increase from 2011 [Statista]. The sector is expanding rapidly, as more marketing franchises are cropping up each year and marketing strategies are advancing at pace.
To get in the game and compete with fellow franchises in 2021, you need to become a confident, competent marketer. You need to get the marketing basics down, and then you need to figure out how to market effectively to shine a light on your business.
What is marketing?
Marketing is the act of promoting to consumers and it can be used to promote a brand, a product, or a service.
Good marketing increases sales and boosts brand visibility. Here are some examples of a few creative post-lockdown UK advertising campaigns, leaning on the shared experiences of the past year.
Why is marketing important?
As expressed above, good marketing is good for business. Marketing is an incredibly necessary tool when you’re running a franchise, as it allows you to increase your revenue, solidify your brand identity, and expand your customer base.
Without a good marketing strategy in place, your business runs the risk of missing out on potential customers. This is especially true in a world where almost every company has a strategy of some kind in place. It can be intimidating to get started, but things should become clearer once you realise that the best kind of marketing is driven by genuine enthusiasm for whatever your business is offering its clients.
Marketing is really just about sharing your passion.
—Michael Hyatt, New York Times Bestseller
What are the different types of marketing?
As you learn how to become a marketing pro, you’ll learn that the world of marketing is very large, and full of smaller subsets. Within this huge arrangement of information, however deeply they might feel buried, are all the marketing best practices that will help your particular franchise grow and succeed.
Broadly, all marketing fits into two main categories:
Offline marketing is, put simply, marketing that happens off the internet. It might seem like the more “old-school” option, but in reality many cutting-edge marketing methods exist offline. Examples of offline marketing include:
- Billboards (paper and digital)
- Radio advertising
- Television advertising
- SMS (text message) marketing
>> Read more:
- What is the Marketing Fee and Why is it Necessary?
- Developing an effective franchise marketing plan
- Try Out These 8 Outside-the-Box Marketing Ideas to Grow Your Business and Engage Your Customers
- 10 Tips for Building Truly Effective Social Media Marketing Campaigns
- Franchising 101: 8 Essential Marketing Strategies for Promoting Your Business
- Franchising 101: 6 Tips for Building Customer Loyalty Through Marketing
The online marketing world is where most activity now takes place, and a million different marketing technologies and techniques are in action on the internet. Thanks to the worldwide web, connecting directly to potential customers has never been easier for franchisors and franchisees. Here are some examples of online marketing methods:
- SEO (Search Engine Optimisation)
- SEM/PPC (Search Engine Marketing/Pay Per Click)
- SMM (Social Media Marketing)
- Content marketing
- Affiliate marketing
- Email marketing
Regardless of whether you’re online or offline, marketing is all about promoting your business to people who could be interested in what you’re offering. Want to dig deeper into the world of franchise marketing? Check out our 8 essential marketing strategies for promoting your business.
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The advantages of good marketing
A solid marketing plan can have a seriously positive impact on your franchise. Here’s an example.
Your conversion rate is determined by how many of your website visitors become customers. The number of conversions divided by the number of visitors equals your conversion rate. The higher the number, the better. On average, conversion rates are six times higher for companies using content marketing strategies - 2.9% versus 0.5% [Aberdeen Group].
Increased conversion rates aren’t the only benefit of good marketing, though. Good marketing:
- Increases the visibility of your franchise. Consistent production of marketing content which is optimised for search engines will see you rise up Google’s rankings over time. And once your ranking improves, you’ll be visible to people who might otherwise never have known how to find you.
- Builds up a sense of customer trust and loyalty. Showing up consistently for your customers, and providing them with engaging content on a regular basis, will foster trust and connection between consumer and brand.
- Boosts the company’s reputation within its industry. Solid marketing content only makes your brand look better. If the marketing materials you’re putting out into the world are smart, aesthetically attractive, and contribute something new to the discourse, you’ll soon become a trusted authority in your field.
- Provides a greater level of understanding. Working to move past the business basics and become a marketing pro will teach you two key things about your franchise: what your customers like and respond to, and what the core values and offerings of your business are.
How do I market effectively?
Here are our top four marketing tips:
1. Develop your communication skills
The ability to communicate successfully is vital when it comes to trying to sell your products and/or services. Though this may not come naturally to everyone, it’s easy to work on. The more you flex the muscle of communication, the stronger it will grow, and the more confidently you’ll be able to get your points across - to your colleagues and your consumers.
2. Connect with your customers
Make sure to invest time and effort into developing profiles of your ideal customers. Who are they? What kind of lives do they lead? What can your business offer them?
Understanding and anticipating customer demand is one of the best ways to ensure that your marketing campaigns are successful. After all, success starts with getting to know the kind of consumer you’re trying to appeal to. Gather data, take notes, and keep your ideal customer profile in mind whenever you consider the next steps in your marketing journey.
3. Create positive, regular habits
60% of businesses find it hard to consistently create marketing content [Zazzle Media]. For your business to thrive, you’ll need to be one of the 40% who can implement strategies and plans that produce regular results.
Set goals, prioritise tasks and bank marketing content in bulk for future use. Do whatever you feel allows you to create positive, regular habits which serve the marketing goals of your franchise.
4. Stay informed on new digital marketing tactics and trends
Digital marketing trends and tactics are fast-moving, and they’re always developing and changing in one way or another. Pay attention as well as you can to new advice, particularly on game-changing factors like SEO. Follow the most up-to-date guidance you can find.
Running your own business is a unique, rewarding challenge
Running your own business isn’t always easy, and marketing is a complicated process which takes a long time to perfect. That said, it’s definitely worth the investment of time and energy to get your marketing strategies right. You’ll feel the positive impact on your franchise when you hit the right advertising spot.
Follow the suggestions shared above, commit to thorough customer research, and you’ll be a marketing pro before you know it.
If you’re interested in a possible investment in the marketing sector, check out these franchising opportunities.
Cara Squires, Point Franchise ©