You want to maximize the efficiency of your Franchise advertising dollars. The best time to start focusing on ad quality and cost per lead is right when you’re just starting out. As your business grows, you can increase your ad budget and shift it away from less-effective audiences and keywords. Here are some ways to get the most out of your advertising budget:
Organize a marketing committee or advisory council. Franchisees can provide input, and the marketing committee can pool advertising funds for larger advertising projects. Although there are no guarantees when it comes to advertising, having franchisee input is important for ensuring buy-in and better decisions. And always make sure that you evaluate your advertising efforts to see if they are producing desired results. Once you know the best advertising campaigns, you can improve your marketing strategies.
Advertisements should include information about the franchisor and the location in which the franchise is registered. Some states also require that franchises file their advertisements with their state’s franchise regulators before they begin using them. These regulators may object to certain statements or advertising content. Regardless of whether you’re advertising on a franchise Web site, you should consult with the state’s franchise regulators to ensure that the ads you’ve submitted meet their standards.
When developing a franchise marketing plan, ask your franchisor how they manage brand consistency. You want to be consistent across all locations. Franchisees should use the same brand colors, menu items, and beverage preparation. Creating consistency will help your franchise grow. So, how can you achieve brand consistency? Here are some of the things to keep in mind:
In addition to free and low-cost franchise advertising, consider using paid marketing channels. These channels are effective for reaching large numbers of potential customers and promoting your franchise. A popular platform for search engine advertising is Google ads. You can also release newsworthy articles on startup and industry blogs. While these may seem a bit expensive, the benefits far outweigh the costs. The best part about these methods is that they can help you create an online presence that competes with established brands.
During the selection process, ask your franchisor about its advertising fee. The advertising fee is the second most important ongoing fee franchisees must pay. Often, advertising fees are broken down into two categories: national and local ad funds. You can get more information about the fee structure in the franchisor’s franchise agreement. The franchisee can also discuss their advertising responsibilities with the franchisor prior to signing the franchise agreement.
If you’re interested in franchising, check to see whether your franchisor has a national ad fund. This fund is a percentage of your franchise’s sales and revenue, and it includes all forms of advertising, including television commercials, brochures, billboards, and website development. Franchises can also request financial statements for the advertising fund to ensure that the funds are being spent properly. In addition, check to see if your franchisor provides trademark protection for the franchise.