Franchise Development - What is the new normal?

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Presented at Houston Franchise Business Network meeting in Houston, TX on August 2, 2012.

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Franchise Development - What is the new normal?

  1. 1. Franchise Development –What is the New Normal?Presented by Paul SegretoAugust 2, 2012
  2. 2. Paul Segreto• 25+ years franchise • Founder FranchisEssentials experience Media Group• Franchise Executive • Franchise Today – Internet Radio Show• Multi-unit Franchisee • FranSummit – Virtual Training • President FAC Platform• Consultant & Coach • Franchise Essentials Magazine• President & CEO • Personal Branding for Franchise franchisEssentials Professionals• President & CEO • Active IFA Member & Franchise Foundry Advocate • Membership Committee • Technology Committee
  3. 3. Let’s start at the beginning…
  4. 4. Check out their eyes!
  5. 5. Today’s franchise candidates are…More educatedMore sophisticatedMore technologicallyadvanced …than ever before!
  6. 6. Today’s franchise candidates are…More educated More diligentMore sophisticated More cautiousMore technologically More anxiousadvanced …than ever before!
  7. 7. 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?
  8. 8. Is the outlined and officialfranchise sales process the actual process being used?
  9. 9. Could your franchise salesprocess work better?Is it time for a franchisesales process audit?
  10. 10. Integrate Social Media with Traditional Marketing
  11. 11. Your franchise sales process must have continuity with your online messaging.
  12. 12. Franchise Social Media is about amplifying your recruitment messaging.
  13. 13. Using Social Media to amplifyan inconsistent message andincorrect or non-compliantcontent will lead to poor resultsor worse consequences…
  14. 14. What you tweet, post, share, blog, YouTube,IM and discuss in the digital world you cannever fully take back the message.
  15. 15. Remember, in the digital worldof Social Media, everything yousay is for eternity…
  16. 16. Social Media intypical business environments
  17. 17. Social Media in FranchisingCandidate Franchise Sales Rep Brand
  18. 18. Getting started - Social Media e-IDEA™• Explore• Identify• Develop• Execute• Analyze
  19. 19. 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?
  20. 20. Social Media e-IDEA™
  21. 21. Explore…
  22. 22. Identify…
  23. 23. 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
  24. 24. Develop… • Human Resources • Training • Manage & Monitor • In-house or Outsource • Budget • Goals & Objectives • Policies & Procedures • Tracking • Brand Integrity
  25. 25. What are the objectives for using social media forfranchise sales? Increase leads? Keep leads and candidates engaged with your brand? Improve cost per lead and cost per sale? What about current franchisees?
  26. 26. Execute… • Human Resources • Training • Manage & Monitor • In-house or Outsource • Budget • Goals & Objectives • Policies & Procedures • Tracking • Brand Integrity
  27. 27. Candidates expect franchisecompanies to be Social Mediasavvy and for franchisors to beactive in the digital world.
  28. 28. Today’s consumers & franchise candidates are…More educated More diligentMore sophisticated More cautiousMore technologically More anxiousadvanced …than ever before!
  29. 29. LinkedInhttp://www.linkedin.com/in/segreto
  30. 30. Integrated Franchise Marketing
  31. 31. Cross-platform & Multi-tier
  32. 32. Does that mean traditional marketing should not be utilized? Does that mean the franchise sales process should change?
  33. 33. Keeping Prospects Engaged
  34. 34. Closing the Sale
  35. 35. Keeping prospects engaged
  36. 36. Franchise sales requires a seamless transition!Sales representatives must be aware of all online marketing messagesSales representatives must be aware of all discussions regarding the brandSales representatives must be aware sales process may not be A to ZSales representatives must be aware franchise compliance still prevailsSales representatives must be aware people still buy from people THIS APPLIES TO BROKERS, TOO!
  37. 37. Analyze & Quantify…
  38. 38. Online Brand ManagementGoogle profilesGoogle alerts Brand Keywords Per targets Geo-specificOnline brand auditsBlogging Community
  39. 39. 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.
  40. 40. 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).
  41. 41. Before Changing Course…
  42. 42. Two different objectivesFor local brand awareness and driving business to franchise unitsFor regional and national brand awareness and generating interest in franchise concept Requires different strategies and plans. However, they may feed off each other!
  43. 43. Additional BenefitImproving communications and information sharing at all levels of the franchise system
  44. 44. Social Media & Franchise Sales 4 Common Steps• Share• Interact• Engage• Call-to-Action
  45. 45. I’d love to hear from you!
  46. 46. Paul Segreto CONTACT ME• 25+ years franchise • Founder FranchisEssentials experience Media Group• Franchise Executive • Franchise Today – Internet Radio Show• Multi-unit Franchisee • FranSummit – Virtual Training • President FAC Platform• Consultant & Coach • Franchise Essentials Magazine• President & CEO • Personal Branding for Franchise franchisEssentials Professionals• President & CEO Franchise • Active IFA Member & Advocate Foundry • Membership Committee • Technology Committee(832) 838-4822 www.FMDpro.comsegreto.paul@gmail.com www.FranchisEssentials.com

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