Improving Local Brand Awareness AND Driving Sales & Profitability for Franchisees!

Individuals on the buying side of a transaction in today’s business environment are more diligent and cautious than ever before. Not only are these individuals consumers, but they are also business owners, executives, and basically anyone making a purchase for personal or business use. Taking this a step further, although a decision to offer credit is not considered to be a buy / sell transaction, today’s credit providers are also exercising caution and diligence at higher levels than in the past. So, what does this mean for today’s franchisees?

Considering that people buy from people, and people do business with people, the personal aspect is paramount to establishing a relationship that evolves thru to the transaction, and many times, repeat transactions. But, who has the time to network and afford people the opportunity to learn about them and their experience? Well, the answer is, “not many”, as they also have businesses to operate and manage, and time is limited. The key, then, is to brand ones’ self in a way to create a personal platform whereby franchisees, the business owners, will be searchable by the diligent and cautious parties that want to learn more about the person behind the local business before deciding whether or not doing business with them makes sense, and is in line with their own objectives, and possibly, values.

Typically, franchisees are hesitant, reluctant and frightened to network. Even in their communities. Basically, they don’t know where to start or even know what to say beyond, “I’m a such and such franchisee, and we sell this and that.” Therefore, franchisees work hard in the business by working long hours behind the counter, serving customers and interacting with employees; both important to the business but not to the growth of the business. Or, they do the opposite and check-in at some point, pick up the deposits and then do something completely unrelated to the business. Again, things may be in order but the business remains status quo. Does this all sound familiar?

Personal Branding for Franchisees, developed specifically for retail and service B2C and B2B franchises, can change how franchisees are perceived by consumers and others desiring to do business with them. It will improve franchisees’ confidence in going main-stream into the local community. It will create a platform whereby franchisees would be perceived to be on a similar level as executives of larger businesses and corporations. It will provide franchisees with the motivation to expand his or her reach into the local business community. It will present franchisees as experts in their field and in business in general. It will open communications at various business levels potentially exposing franchisees to strategic alliances, future employees and key contracts. Ultimately, it will help improve local brand awareness and drive sales and profitability.

“This one time, at FranCamp…”

Who could forget the scene in American Pie where Michelle is explaining to Jim about… well, you probably remember the scene, and if you don’t I’m sure you can ask one of your co-workers or just Google it. But the thing that stands out in my mind is how fondly Michelle recalls her experience at Band Camp. Beyond her specific reference, what was so special about Band Camp?

Urban Dictionary defines Band Camp as, 1. A strange mixture of hell and the best time of your life. 2. Where band geeks go to socialize, practice. So, I guess one could look at this from the perspective of nerdy people (geeks) socializing in one common location where they could practice their skills, of the thing they’re nerdy about (band) and while this is occurring, just have a great time. And, I’m sure, along the way, a certain humor is shared among the geeks about the thing they’re most passionate about. Which is why they’re at camp in the first place!

Well, last week in Nashville, attending the first-ever FranCamp, I was entrenched in social media with a bunch of other social media geeks. C’mon, you know we are social media geeks because even our jokes were about social media… not to mention that most of the speakers (myself included) got together for drinks and dinner after the all-day event and agreed we shouldn’t talk about social media. Which of course, lasted about 30 seconds before we started talking about, you guessed it, social media. Ok, we’re passionate about social media. There, I said it!

Many people that have yet  to “get” social media just don’t understand how anyone can be so passionate about something like social media. I believe it’s because they are afraid to embrace something they refuse to learn about. Maybe it’s that they don’t want to be accountable for utilizing it correctly and God forbid, use it to produce results. Isn’t that why many refuse to sing, or going back to the whole band thing, decided against taking up a musical instrument even though they repeatedly state that they always wished they could play the piano? How many today are wishing they could learn how to use social media, yet do little towards that end?

If this is you, or it’s something similar to the excuses you give for not embracing social media, then I highly suggest you contact one of the FranCamp speakers and ask them to give you a social media primer. I’m sure, as was the case at FranCamp, they’ll be more than happy to share their passion for the subject. You see, at FranCamp, that passion rang loud and clear.

The brainchild of Thomas Scott of Brand Journalists and Deb Evans of Social Geek Radio, FranCamp was successful because of the passion they shared in developing the event and then carried through the event by the great speakers. Passion may even be an understatement as you may soon realize when you actually view the quality of the presentations and the attention to detail given to the subject matter. And like band camps, there was a fun factor that made the event memorable and is already creating excitement for the next FranCamp.

So, if you hear me say, “This one time, at FranCamp…”, you’ll just need to attend the next one to truly understand what I mean.

This Week on Franchise Today: The Nuts and Bolts of Landlord and Lender Negotiations – How to Set the Table for Franchisee Success!

This week on Franchise Today, host, Paul Segreto welcomes as his guest, Tom Spadea, a business and franchise attorney, and former franchise executive. Paul and Tom discuss the nuts and bolts of landlord and lender negotiations and how the same, done effectively, improves the chances of franchise success.

About Franchise Today

Franchise Today is hosted by Paul Segreto, President and CEO at franchisEssentials, and co-produced by well-known franchise veteran, Joe Caruso. Their unique perspective and extensive industry experience provides the foundation for relevant discussions about franchising and franchise best practices. Weekly guests include some of the brightest minds in the franchise world, with specific expertise and experience within various areas of franchising.

Other features include Franchise News, as reported by the leading franchise publications, the IFA Corner, news and events from the International Franchise Association, New Brands in Franchising, a look at up and coming franchise concepts, and “Are You Kidding Me?”, eye-opening and thought-provoking insight into the comical, and sometimes illogical side of franchising.

The team at Franchise Today is dedicated to franchise success at all levels. So, whether you’re a franchise professional looking to grow a franchise concept, needing some assistance in facing today’s challenges or would just like to better understand franchise best practices, then Franchise Today is for you!

Franchise Today airs LIVE every Thursday at 11AM CDT / 12PM EDT with archived segments available on-demand.

 

The Digital Holy Trinity – Possibility or Probability?

I was recently asked my opinion of Groupon and I immediately thought of its place within the whole realm of traditional and social media marketing, and how I see its sustainability in small business, including franchising, and if I recommend using group coupon deals at all.

Here’s my opinion, subsequent rant… and a bold prediction!

Groupon and others like it should only be utilized strategically and only for a specific purpose such as generating immediate interest and cash flow for a typically slow period, and to infiltrate a competitor’s customer base. Both of these objectives have been achieved by utilizing a Groupon-type coupon. Further effectiveness is evident as the coupon strategy is enhanced by social media.

Personally, there are so many Groupon copycats that the allure, even from a customer perspective, has diminished considerably from just six months ago. Case in point – I had purchased over 30 Groupons and similar coupons and was happy to use them all. That being said, over the past three or so months I have not purchased a single one. Why? Because before it was one deal per day and I was notified of the same and I could simply decide one way or the other. Now, I’ve got to look at deals, is it family based or not, entertainment or service… just too much of a hassle. Not to mention the bombardment of collateral emails like for Social Escapes by Living Social, etc.

Beyond that, coupons and promotions will be very geo-specific. Actually, social media is becoming very geo-specific which will drive the geo-specificity of coupons and promotions. Facebook has a distinct advantage over many others as they have both Facebook Places and Facebook Deals. Further, they have finalized or are close to finalizing a deal with Foursquare whereby it works hand-in-hand with Facebook Places. As it is, Foursquare populates into Facebook (and Twitter). And mobile phone usage will continue to drive check-ins and geo-specific marketing. Customer Review sites are jumping on the bandwagon and offer check-ins as well.

Where I believe Facebook will prevail as the leader, is the community feature. Basically, a captive audience where fans can realize all, including coupons and promotions, check-ins, customer reviews, sharing information, posting comments, etc. The push to a more mobile-friendly Facebook is already occurring. If you can think it, Facebook is probably working on it. If not, they’ll buy it. Long-term contracts? Facebook deems them as not being necessary. They really don’t need to as no one really competes with Facebook.

Now that Facebook has become more business-friendly, the sky is the limit. I project you’ll see Facebook go after LinkedIn or develop something similar. Twitter could be a possible acquisition. MySpace? That will be interesting especially as Zuckerburg feels the under 13 crowd should be on Facebook. With MySpace, he’d give them more reason to do so… or maybe justification. Foursquare? Some type of merger would be practical. How about the rumors that Apple is stockpiling their cash for a run at Facebook? Now THAT would be very interesting!

On the other front is Google. Certainly, they are a search powerhouse. And, with their acquisition of YouTube, they now have the top two search engines. Yes, YouTube is used for search even more than Yahoo and Bing. But, Google has not done well with social media. Think GoogleBuzz and GoogleWave. So, at what point does Google and Facebook realize they’ve each cornered their own parts of the market. Maybe even covering the whole market? Would that then create the possibility of a Google-Facebook merger? Just think of THOSE possibilities! And, now that Microsoft has purchased Skype, maybe the celestial landscape will include Skype… albeit with an improved mobile application.

So, the winning combination in one way, shape or form is… Search, Social, Mobile. I like to call it the Digital Holy Trinity!

*This post was originally posted on this site May 2011.

Author’s note – As for Google +, it remains to be seen what happens with Google’s latest attempt at social media.  I, for one, believe it will also fall by the wayside as their other attempts within social media have in the past.

This Week on Franchise Today: Franchising Goes Social in Nashville!

This week on Franchise Today, host, Paul Segreto is joined by social media maven and franchise professional, Deb Evans. Paul and Deb discuss FranCamp, the much-anticipated franchise / social media event being held in Nashville on Saturday, October 22nd. Deb is also co-host of another popular show on Blog Talk Radio, Social Geek Radio, where she discusses the use of today’s social technologies on the Web.

About Franchise Today

Franchise Today is hosted by Paul Segreto, President and CEO at franchisEssentials, and co-produced by well-known franchise veteran, Joe Caruso. Their unique perspective and extensive industry experience provides the foundation for relevant discussions about franchising and franchise best practices. Weekly guests include some of the brightest minds in the franchise world, with specific expertise and experience within various areas of franchising.

Other features include Franchise News, as reported by the leading franchise publications, the IFA Corner, news and events from the International Franchise Association, New Brands in Franchising, a look at up and coming franchise concepts, and “Are You Kidding Me?”, eye-opening and thought-provoking insight into the comical, and sometimes illogical side of franchising.

The team at Franchise Today is dedicated to franchise success at all levels. So, whether you’re a franchise professional looking to grow a franchise concept, needing some assistance in facing today’s challenges or would just like to better understand franchise best practices, then Franchise Today is for you!

Franchise Today airs LIVE every Thursday at 11AM CDT / 12PM EDT with archived segments available on-demand.