Not all franchises boast strong brand recognition. But, if yours does, that familiarity is your business’s greatest weapon.
Studies show that brand recognition weighs heavily into consumer buying decisions. When presented with two products, one from a known brand and one unknown, consumers are significantly more likely to choose the brand they know. This tendency works in favor of franchise owners who invest in established brands, since their businesses come with built-in brand recognition.
If your franchisor provides a brand with a strong personality and clear differentiators, it’s time to leverage that brand to drive sustained sales. Here are a few ways franchisees can take advantage of existing brand recognition:
Reflect Differentiators
If your concept comes with a memorable brand, it’s likely because of its differentiators – or what sets the brand apart. Maybe your brand offers unparalleled quality control, selection or pricing. Whatever your differentiators, it’s essential to keep them at the forefront of your marketing efforts.
While the franchisor develops the differentiators, it’s the franchisee’s job to put them into action. Start by looking closely at your customer experience. Is it curated to emphasize your brand’s unique offerings? Elements as simple as signage, employee scripts and store layout can help subtly shift customers’ focus toward your brand’s value proposition as they shop.
A good franchisor provides owners with a unique, differentiated brand. Make sure to put it to good use in your store.
Separate Sales from Brand Building
Not all marketing efforts focus solely on sales. Marketing for brand building will pay dividends later when your concept pops into customers’ minds.
Marketing for brand building takes many forms. It might be a commercial that features a customer or employee’s story – human stories are always more compelling to consumers than corporate narratives. It might involve sponsoring a local organization or setting up a booth at a community event. It could even mean investing in public relations to secure local media coverage.
Whatever your brand building looks like, it’s important to strategically target brand awareness in your local market. A franchise offers built-in brand recognition, but there’s always room to build on that foundation. In time, these efforts will translate into sales.
Keep Your Eyes on the Prize
Most franchisors provide collateral for local marketing campaigns. Franchisees are wise to make use of these materials, since they’re professionally designed and ready-made.
However, without clear communication with the franchisor about goals and best practices for each campaign, franchisees risk running ineffective campaigns that drain time and energy.
Reach out to your franchisor at the start of each new campaign and establish its objectives and target audience. Establishing goals at the onset makes it easier to optimize your time and view the campaign in terms of its return on investment.
Ideally, modify advertisements, mailers and brochures with location-specific information. With cooperation from your franchisor, a professional printing service can help you make the approved modifications.
Winmark franchises come equipped with industry-leading brands. Read more about how Winmark brands stack up to other franchise opportunities.