The biggest area of turn-key businesses is franchises. There is a franchise for every industry in the world and they are fairly easy to acquire and come with practically a pop out of the box pre-assembled system. McDonald’s is a prime example. In fact, a $40 billion, 28,707 strong example.
There are a few things we are going to talk about:
- Business Format Franchise
- The Franchise Prototype
- Franchise Prototype Standards
Business Format Franchise
The business format franchise came from an earlier model call the “trade name” franchise. The big change was in the rights. During the “trade name” days the franchise owner only had marketing right’s, now franchise owners have ownership rights to the entire business including systems. This has allowed for a shift in focus to go from the quality and name recognition of the products carrying the business to sales techniques that carry the business.
The Franchise Prototype
It was really the franchise prototypes that allowed for the changes to be made that help today’s franchises really shine with the techniques developed by the owners instead of the corporation. This can make a significant difference in the success of the franchise as the owner can custom tailor their marketing and promotions to the direct needs of their local target customers.
Franchise Prototype Standards
Now, the above being said, no one in their right mind would purchase a franchise if the parent company didn’t have a solid plan of action set up to ensure the prospective success of the business. So, there are a few standards that are put into place that helps jump-start the process of opening a successful franchise.
Build a model of prospective customers/clients, suppliers, creditors and employees who will consistently offer high-quality work.
- Build a user-friendly model that can be used by individuals of any skill set.
- Build a defect-free model.
- Build a model with Operations Manuals.
- Build a model that will provide guaranteed, consistent results.
- Build a model that encompasses the same branding in colour, dress and facilities codes.
These are all ways the parent corporation makes sure their brand stays the same and in the front of the minds of customers. When you are purchasing a widely-known brand you will attract customers just for being you.
If you are considering purchasing a franchise, talk with one of our experienced business coaches during our FREE test drive.
We’re going to go through the 5 essential keys to a successful and reusable marketing campaign launch. Once you have these basics down, you can use them over and over again.
The 5 essential keys are:
- Define your Unique Selling Proposition (USP)
- Put an effective sales offer to work
- Avoid the marketing pitfalls
- Use a world-class marketing perspective
- Get results!
We’ll go through each one of these, so you can see exactly how to use them and how they all affect the overall outcome of your marketing campaign.
Define your Unique Selling Proposition (USP)
Take the time to ask yourself some questions from the perspective of the customers/clients. What would it take to get your attention? What needs do you have that need to be met? What are the promises you want to be fulfilled?
Once you know the answers to these questions you can start putting together a plan to meet these needs. Then take a look at what USP your competitors are using to help you develop your own USP. Your USP is what you are “promising” your customers/clients. This is what’s going to set you apart from your competition.
Put an effective sales offer to work
To develop an effective sales plan, you need to:
- Put together a headline that gets immediate attention.
- Share benefits of your products/services speaking from the customers’ perspective.
- Identify the specific needs met by your products/services.
- Make it easy to do business with you by offer guarantees.
- Share your specific sales proposition.
- Walk your customers/clients through how they should respond and act.
- Motivate with a call to action.
What this all means is, you need to put together what makes your products/services special and compel customers to buy. If they don’t feel like they NEED your product, they won’t buy. You need to answer a question, solve a problem or feed an obsession.
You need to provide them with all the information they need to make an informed and confident decision. Buyer’s remorse is one of the worst things that can happen.
Avoid the marketing pitfalls
There are 5 major marketing pitfalls many businesses fall into and you should avoid:
- Ignore market testing and push on with an inaccurate plan.
- Offer an incomplete case, or reasons, throughout their marketing plan.
- Fail to notice the needs of their prospective customers/clients.
- Fail to diversify their marketing options.
- Fail to get market opinions on their offers.
These are all areas to avoid. If you’ve been working through these lessons, avoiding these pitfalls should be easy and natural.
Use a world-class marketing perspective
World-Class marketing perspective is important, especially if you want to attract customers/clients from all over the world. You can do this a number of different techniques and activities:
- Keep a marketing journal and scribble down anything innovate you see.
- Keep encouraging your marketing department, or yourself, to try new things and dump the ones that aren’t working.
- Order from your own company under a different name and analyze the process of ordering, shipping, online store, customer service and the product itself. This will show you where the areas for improvement in the customer experience.
- Read every quality ad you can find and keep a file for future ideas to consider.
- When out in public, watch how consumers behave in different situations and how they consider their purchases.
- Step down a notch or two and work on the front lines with your sales and customer service staff.
- Continuously acknowledge your staff, vendors and customers. Everyone works and shops better when they feel appreciated.
- Always listen to feedback from employees and customers.
- Continuously test markets, ads, and marketing techniques. This is the only way to stay successful and know what’s working and, more importantly, what’s not.
- Offer more information in your marketing than anyone else. The more information you offer, the more products/services you’ll sell.
- A great marketing plan can only get better. Continue to fine-tune and refine your marketing plan based on testing results and feedback.
- Be classy in your marketing. Make sure your marketing and advertising fit your company image, products/service and quality.
- Improve your best marketing areas and drop those that aren’t working.
- Focus on what you say, not how you say it. The best marketing ideas turn into the best marketing naturally.
- Develop all your ads, campaigns and sales materials with an attention to compelling and factual information.
By using these techniques you can put your name out there to the world and become one of the top brands in your industry.
The last area we are going to talk about is the best-satisfied customers. If your customers aren’t satisfied, you’ve wasted all your marketing resources and all chance of positive word-of-mouth advertising. You can satisfy your customers by:
- Providing quality products/services
- Providing high-quality customer service
- Providing a low-pressure, highly informative sales experience
- Taking all the risk away with a great guarantee
To generate more business there are a couple of simple techniques that work every time:
- Build your database with a contest.
- Do regular mailings with sales, discounts, or other incentives.
- Find other creative ways to keep your current customers coming back for more.
“As long as the reward is directly related to your product or service, you can’t lose. Why not get started today? It’s so simple, it’s so seldom done, and it’s so profitable. And that’s the bottom line.” Jay Abraham
It is so simple! So, why aren’t you starting today? We can help you put together a great marketing plan that will get you results. Try our FREE test drive and find the tools and resources you need to be built by some of the biggest names in the marketing world.
Today we’ll take a look at how the kings of industry wine, dine and otherwise cajole prospects.
Most successful professionals use a series of information based ads that build emotion and a call to action. These are much more effective than a standard company branding advertisements. The same principles that go into putting together a high impact (and, often, high priced) ad campaign can be adapted to fit your needs with similar results.
Here are some ways to put together and execute a professional, effective ad campaign:
- Put together a short report that’ll you’ll automatically send to prospects when they contact you. This should include a short description of your business and what you specialize in. Don’t forget to include case studies, samples or other proof of your success.
- Develop value-oriented yellow page ads.
- Consider newsletters as a way of educating and informing customers about your industry and services offered.
- Offer a free seminar, webinar or other lecture to build awareness of your business, but make sure you make the information pertinent to your target market and find speakers who are respected and known in the industry.
- Buy an existing business, introduce better marketing and grow this new business faster than a “from scratch” business.
- Always test different versions of your ads to find the most effective ones.
- Use direct mail marketing to grow your business.
- Put together a database of previous customers and send them new information.
- Offer incentives such as frequent purchasing benefits, loyalty programs, referral programs or others.
- Approach large firms who may need your services and negotiate a deal to be their exclusive expert in your field.
- Offer a 24-hour information line with a regularly updated recorded message. Make this available to all past and future customers/clients.
- Donate time or materials to local charities to show support in your area.
- Offer public clinics for the general public to come along and discuss what they need that’s free and approachable.
- Organize seminars your customers/clients can pay to attend by putting together a high-perception value package.
- Approach local newspaper by offering to write a weekly column about your area of expertise. Don’t ask for money, just a byline and bio.
- Develop a weekend or other destination seminar for customers/clients, not only does this give you an action-packed weekend with the most important people, it gives them a tax-deductible business adventure.
- Take a good seminar and turn it into written form as a home study, member site program, audio or video program.
- Approach large companies and offer to give seminars to their employees, investors or management.
- Be proactive with your marketing plan.
- Barter for your marketing. Offer products or services in lieu of payment.
- Be willing to bring in new clients, even if at an initial loss because it will likely pay off later.
- Regulate your marketing budget to maximize the potential income from them to hit the next year and try to push back advertising costs for the next year to offset your expenses.
- Make offers to target markets or target market businesses to pay them for referrals or shared databases.
- Offer loaner products to replace equipment that’s be repaired or refurbished.
- Give away something free to everyone who brings in a print version of your advertisement. This is a great way to see which ads are giving you the most bang for your buck.
- Continually consider what new products/services you can offer to current customers/clients.
- Develop a mail order division of your company.
- Offer a proposition to your competitors to trade customers/clients you were both unsuccessful in selling to.
- Use different marketing tactics as an excuse to attract new customers/clients with new offers and goodies.
- Offer a “you-choose-the-price” program. This is especially good for a product you just can’t seem to sell.
So, there are 30 great ways to market to other professional and businesses. Some other great ways to get your name out there for little or no cost are:
- Get involved you in your community-volunteer, donate to local events, etc.
- Join your local Chamber of Commerce and attend the networking and other activities throughout the year.
- Join a local, state or regional professional associates for further networking opportunities.
- Become a board member of a local organization.
Advertising should never be your only method of marketing, there is a myriad of ways to get your name out there in a way that feels personal to potential customers/clients.
“Effective advertising…must be used to get your name out to the public. If your name is not familiar to people, they will not come to you.” Jay Abraham
If you’re not sure where you start with your marketing plan or how to reach out to your local community, competitors, customers/clients and others who could influence your business in a highly positive way, try our FREE test drive to experience the tools and resources we have to boost your business to the next level and beyond.
Today I’d like to teach you about the three most important start up marketing tools you need to get and keep new customers.
- In person: It’s essential you meet with customers/clients in person whenever possible. This shows you respect them and take the time to work with your clients to give personal attention to each of them.
- Follow up letter: Always take a moment to send a follow up letter about what you talked about, new agreements or partnerships made and to thank them for taking the time to meet with you. Likewise, you should always send thank you letters or small gifts to partners you find success with.
- Phone call: Use a telephone call to follow up with them to talk again about the matters you talked about in your meeting and offer any assistance you can to help their business run smoothly and more successfully.
None of these will work if you don’t have a quality product/service to back you up!
Here are the key steps for putting together your start-up marketing tools:
- Research potential customers, buyers, competitors and their preferred methods of distribution.
- Talk to potential customers. Take a hard look at your product from a customer’s perspective and see what it needs to be successful.
- Follow up with your 3-step process from above.
- Develop systems for contact follow through, quality control standards and customer service.
- Develop post-sale follow up system to keep lines of communication open is customers and build on your current relationship which increases future purchases.
“Marketing and innovation produce results; all the rest are costs” Peter Drucker, management consultant
Here’s another one I love from an icon:
“If there is any one secret of success, it lies in the ability to get the other person’s point of view and see things from that person’s angle as well as from your own.” Henry Ford, Founder of Ford Motor Company
This lesson has offered you the tools to put together a start-up marketing plan that can be used over and over again to help your customer base and business grow in a manageable way. The tools offered in our FREE test drive offer these very same things.
Today you’re going to learn how to find a target market of potential customers so you aren’t wasting precious resources on blitz marketing. So, the two questions you have to ask yourself are:
- What do people really want to buy from me?
- What related products are they already buying?
Once you figure this out you will know who is more predisposed to purchase your products/services. Then, you find other businesses with the same customer base who you can customer share with. Come up with an incentive and great arrangement to encourage both of your customer bases to shop at both of your stores.
The basic concept is this:
You want to find existing businesses who have the customer profile that you are looking for to market your products/services to.
Then strike up a relationship with those business owners to work out an incentive for customers to purchase from both businesses.
As a result, you have an audience to market to and they generate an added value from their current base.
So, how do you figure this out? There is a great formula from Jay Abraham you can follow with great success.
LV = (P x F) x N – MC
Here’s what it all means:
- LV is the life time value of a customer
- P is the average profit margin from each sale
- F is the number of times a customer buys each year
- N is the number of years customers stay with you
- MC is the marketing cost per customer (total costs/number of customers)
Once you know how much you need to spend to attract a new customer, you will know how much of an incentive you can offer to a business to help attract new customers.
So, here’s your step-by-step process:
- Find companies who already have the customer base you are looking for.
- Negotiate an incentive for them to share that customer base with you.
- Focus your marketing resources to this group of predisposed customers.
If you need help working through this process, check out our FREE test drive for the most comprehensive system of marketing tools and resources.