Income, Lifestyle, Brand & Equity
I recently attended a webinar hosted by Lisa Powell, the Marketing Resource Manager for The Entrepreneur's Source. “In a Commoditized World Make Your Brand Stand Out!” Over 30 proffessionals attended the meeting and discussed the importance of Brand Differentiation in today's franchise market. When it comes to attracting, engaging, and closing sales, having a substantial and attractive Brand becomes imperative. There also was discussion of the challenges many franchisors encounter when it comes to gathering leads, making sales, and standing out among your competition. Let's face it, most every potential franchisee has already heard all about 'developed systems, excellent training, and benefts of the model'. So we are left asking, what DO today's potential franchise buyers want? Many franchise prospects now are making a career shift, perhaps because the job they've worked their entire lives no longer exists or is no longer fulfilling. Many franchise prospects are looking for a career that can meet their income and lifestyle objectives in a fresh and sustainable way. Most importantly, they are looking for a business that fits in with their lives, families, personal and professional goals.
In short, franchise prospects really want to buy an improved lifestyle & income. They are also looking for a strong Brand & Equity or value. How is this kind of sale accomplished you ask? We answer, most importantly you want to:
1. Define what sets your Brand apart from your competitors.
2. Explain how customers are recieving your product or services.
3. Become a expert in your field and a resource for information.
Transparency & Trust is paramount to attracting, engaging, and closing sales in this internet age. People are researching business models for themselves and finding information online. This is where you will intersect with your best prospects.
The differentiation between commoditization and value is in your BRAND DNA.
Roger Griffin writes a fantastic article on Brand development you can view here 3 Keys to Successful Brand Development: Segmentation, Differentiation & Positioning
To read more about what potential franchisees are looking for you can download our FREE whitepaper here!