Are you seeing franchise ads pop up and want to know if they are business opportunities you should consider? Or are you a franchisor trying to advertise your business opportunity? We're diving into franchise advertising and how to create compelling ads, and what to do when you're the one marketed to.
Let's define franchise advertising. It refers to the marketing strategies people in the franchise industry use to generate brand awareness and ultimately create more leads and sales for their business.
This likely won't surprise you, but advertising in the industry has nearly become 100% digital. Great news, when it comes to traffic volume, however, you should be careful and clear when crafting your ads. Good leads are hyper-aware that they are marketed to online, and bad leads will call you constantly, making it more difficult to meet capacity.
There is a balance you must find with franchise advertising. You must be clear about WHO your opportunity is for and also state who it's not for.
This may seem redundant, but when marketing to a mass audience, many of whom believe they could buy a business today, your message shouldn't be the first filter that reaches them.
Deep segmentation is the process of dividing your target audience into smaller, more manageable categories. These are the necessary filters you need to reach a higher caliber lead.
You can learn more about this topic with our article, "Deep Segmentation in your Business."
What makes a good lead good and a bad one, well... bad?
A good lead is a person who fits the customer criteria. This could mean they're in a certain age bracket, location, career, gender - the list goes on. Also, as explored in depth in our article above, with the practice of deep segmentation, you can place your digital ads in front of these people so they interact with your brand and increase the chance of closing a deal or purchase.
On the other hand, a bad lead is just someone who doesn't fit the criteria. Now you may be wondering, "the more leads the better." However, when it comes to online services in particular (such as franchise brokering), a high call volume of bad leads can clog up your line.
Now onto the other hand of the conversation. You're not a franchisor, and ads are popping up left and right. What action do you take? Here's what to do when compelling ads are shown to you.
Firstly, we recommend always speaking with an industry expert. When it comes to knowing which franchise is a good one, it can take a thorough deep dive in the industry to find the answer. Unfortunately, compelling ads only get you in the door, so to speak. It's important to verify the credibility of a particular franchise - as not all opportunities are created equally.
At FBA, when you call looking for a business opportunity or inquiring about an ad you saw, our specialists break down your long-term business goals, interests, and budget. Then, they qualify you so you can speak with one of our industry expert brokers.
Brokers help you determine if the ads you come across are worth exploring. And if they're not, they find you alternatives to consider.
GOOD franchise advertising is targeted, promotional, creative, consistent, ethical, and personalized to the brand. However, franchisors and potential buyers should know that ads aren't all that matters.
Due diligence and further research is required for people in the industry to find the right fit.
We have specialists ready to help you discover which franchise is the right one for you - at no cost to you. Alternatively, we host hundreds of franchises in our inventory. To know more about our services or to get started with a specialist, please visit us at www.franchiseba.com or call (866)-395-4697 Monday-Friday.