3†Tips†to Help Localize Your Franchise Marketing Efforts
From The Buxton Co
As many large franchisors know, thereís no such thing as a one-size-fits-all approach to marketing.
And though established marketing programs may exist, franchisors must keep 3 things in mind when trying to grow a brand in a local market:
1. Leverage Local Market Knowledge
In order to identify the most effective marketing channels to communicate with consumers, you must understand who your local customers really are. Even within the same city, the demographics and psychographics of consumers can vary greatly.
Once you know your customer mix across markets and trade areas, you can selectively choose the mediums your marketing messages are funneled through.
For instance, with an older audience, a more traditional marketing approach Ė such as local newspaper ads or radio commercials Ė may be more appropriate than a digital marketing campaign.
2. Understand How Brand Perception Varies From Market to Market
If your store is located in a brandís home turf, then marketing is a lot easier as you can tap into the brand equity and prestige that comes with being a well-known commodity.
However, if your store is in a region where the franchise brand is not yet well-known, your task becomes much more challenging.
In these instances, itís critical to let the local consumers know what sets your brand apart and why they should visit your store.
Working with local media outlets to create awareness of your brand will go a long way in establishing your local store as a repeat destination for customers.
3. Know Exactly Who to Target With Your Local Marketing
Itís common practice to blanket a trade area with marketing materials before store openings or other events, but just because itís common practice, doesnít mean itís the best practice.
It usually results in wasted dollars and extremely low response rates.
The most effective marketing comes from a more targeted approach, which can be achieved by using customer analytics.
Through customer analytics, you can determine who your best customers are by using variables such as psychographics, demographics and purchasing behavior to create a detailed customer profile.
Once the customer profile is created, you can identify consumers that have the most potential to visit your store and buy your products Ė resulting in a more efficient use of your marketing dollars and a higher ROI.
And by tracking those who have responded to promotions or purchased products, youíll be able to understand which mediums of communication reach your customers best and more effectively retain them going forward.
The Bottom Line
Ultimately, without in-depth knowledge of the customer, your strategy will fall flat.
Franchises who truly know their customers, who understand their lifestyles and behavior patterns, have a distinct advantage over those who donít.
Buxton is the leading customer analytics firm that helps organizations identify who their customers are, where those customers are located, and the value those customers have to the organization.
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Fort Worth, TX 76137