4 Key Components in Developing A Franchise Marketing Plan

Marketing a Franchise isn’t easy. It takes a lot of planning to devise the best strategy that will work best to your advantage. So, what do you need in your plan to make it the most effective for you long term? This article will give you the top key components that are required when developing a franchise marketing plan. Let’s get started.

Marketing Plan 101: What You Need to Know

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1. Find Who Your Target Audience Is

Before you can market your franchise, you need to know who your target audience is so you can effectively create a strategy that will sell to them. To find this out you need to break down your target audience via their demographics based on what you’re trying to sell. Here’s a graph below with an example on a bike store franchise and their possible target audience when they want to sell heavy-duty mountain bikes.

Age	Gender	Location	Income	Personality	Hobbies
25-35	Male	Memphis	$70,000+	Outgoing, Fun to be around, Adventurous	Forest bike riding, Mountain Bike riding

Based off the above you’ll see the type of audience they should be directing their efforts to. In narrowing down your target audience you’ll be able to reach the right people making your marketing efforts more effectively.

2. Know Who Your Competition Is

The second thing you need to consider is who is your competition? This is important because you can’t market yourself against them if you don’t know who your competition is. The best way to find out who your target competition is and what they’re doing to market themselves is by:

Knowing who your competition is, is important to be able to be one step ahead of them. Don’t be afraid to do your research.

As Adam Heitzman, the managing partner at HigherVisibility, mentioned in his blog on Franchise Marketing,

“Before jumping into a marketing game plan and hitting the ground running, you will need to do competitor research. And this goes for both your corporate plan and individual franchise plans. Chances are, you’re not the only corporate entity in your space. Everything from fast food to plumbing to auto shops has competition. At the corporate level, you will need to assess who your top competitors are, what they are producing, and how they attract both customers and franchisee interest.”

3. Decide Your Unique Position in Your Industry

In order to market yourself effectively, you need to know your unique position in your industry. In other words, what can you offer that your competition can’t? Here are some ideas to help you:

These are just some of the ways where you can be unique in your industry and some key things that you can market effectively to give you the edge.

4. Do Market Research

Market research is important when creating a marketing plan for your franchise. If you don’t do your research you run the risk of being undermined by your competition. Your market research should show:

By doing your research you can then devise a marketing campaign that best suits your overall needs. You’ll also be able to see a clearer image of what’s going on with your franchise and your industry and whether it can meet the needs of your consumers.

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Conclusion

Developing a franchise marketing plan is important to know how to really push your franchise to that next level. By taking these tips into consideration you can definitely become the competitor you want to be in your industry. So, are you ready to make your marketing plan?

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