Deciding that you’re ready to start your own franchise is only one step towards your goal. When it comes to starting your own marketing franchise, you’ll then need to decide which of the potential franchises suit your needs best. There are lots to choose from so, in this multi-billion pound sector, here’s how you can choose the franchise that’s right for you.
Marketing has become an indispensable investment for many companies. Whether you’re a small business or an established organisation with a couple of years’ experience, marketing holds the key to the growth ambitions for many businesses. Digital ad spending in 2020 reached as high as £15.6 billion [Statista], and with this only set to grow further, now is a great time to start running your own marketing franchise.
But of all the kinds of marketing franchises out there, how can you choose the right franchise for you?
How to choose the right marketing franchise for you
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1. B2B marketing franchises
Business to business marketing (B2B marketing) is primarily concerned with selling goods and services to other businesses. As such, this can often be a complex kind of marketing to perfect. You can only market your services to a specific demographic of decision-makers and there is little room for error.
To achieve success in B2B marketing, campaigns need to be devised, including content in the form of blogs, eBooks, webinars, social media, videos and emails. These campaigns should be aimed at the person or persons in an organisation who hold decision-making power.
B2B marketing is quite different from B2C (business to customer) marketing. In appearance, content, and sales strategies, B2B marketing can be said to consist of the following features:
- Niche markets
- Rationally driven
- Personal lead generation
- Open communication
- More jargon and specialist vocabulary
How to choose the right B2B marketing franchise for you
The demands of a B2B franchise are quite specific so, before deciding you want to focus your efforts on a B2B marketing business, you will want to consider to what extent you have the following skillset:
- Patience: B2B marketing can be slow and, at times, frustrating
- Expertise: You don’t necessarily need specific experience but, if you’re marketing to business leaders, you need to have at least a solid understanding of how to interact with that demographic
- Creativity: Creativity doesn’t have be always be bright colours and loud noises - ask yourself how you can engage the right demographic in a new and successful way
- Professionalism: As you’ll be speaking more frequently with business leaders, you should have a good level of professionalism to establish good personal relationships.
Lots of franchises will help you develop your skill set over time, but having the above skills is a good foundation on which you can begin to develop.
2. B2C marketing franchises
Business to customer marketing (B2C) marketing is the more common form of marketing. You’ll be helping businesses sell products and services to targeted customers. While still retaining a focus on the right demographics, B2C marketing is much broader than B2B.
The term business-to-consumer (B2C) refers to the process of selling products and services directly between a business and consumers who are the end-users of its products or services. Most companies that sell directly to consumers can be referred to as B2C companies.
Where B2B marketing might come across as a little too static, professional or too niche, B2C marketing consists more of:
- Larger markets
- Emotionally-driven campaigns
- Transactional relationships
- Faster conversions and turnarounds
- Clear, concise and easy-to-understand messages
- Efficient sales funnels
- Less jargon and specialist language
How to choose the right B2C franchise for you
To succeed in the B2C sub-sector, you will need much of the same skillset as in the B2B sub-sector. However, as you’ll need to be able to appeal to a broader audience in a more relatable way, you should also have a good grasp of things like pop culture, current affairs, technology, and how you can reach customers.
When it comes to searching for the right B2C franchise, you should pay attention to what the franchises can also do for you. The franchisee-franchisor relationship should always go both ways, so consider how much a franchise will help you to:
- Develop new skills
- Find the right premises and locations
- Recruit the right employees
- Develop your brand reputation and network
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3. Sectoral marketing franchises
If you have specific experience within certain business sectors, you might want to focus your marketing on that specific industry. Not only will you be able to put your specific experience to good use, you’ll also be working in a specific industry, which is a great way to set your business up for success. Industries where marketing is always in demand include:
- Takeaways and restaurants
- Home improvement and DIY
Using your previous experience to drive forward a new marketing business is also a good way to quickly start growing. As you’ve already got tried-and-tested experience, you will be able to understand your clients’ needs, put the right solutions in place and quickly deliver the right projects on time.
Choosing the right sectoral marketing franchise for you
In your own experience, you may have already come across some marketing franchises that suit your needs. If you have contacts there, you could ask them about the advantages and disadvantages of that franchise, or you could do some research of your own.
Consider the financial costs, competitive advantages, and unique selling points to each franchise you know of. Once you’ve found your answers, you should have a good idea of what franchises are a better match for you.
Start a marketing franchise today
The marketing industry is vast and diverse, so picking the right franchise isn’t always easy. But, by the time you’ve asked questions, done your research, and assessed the advantages of each franchise, you should have the right franchise in mind.
If marketing doesn’t appeal to you, you can have a look at the UK franchise directory for other businesses in other sectors. You can filter through various criteria to find the right option for you and find the perfect place to put your skills to the test.
Elliott Fudge, Point Franchise ©