The number of franchises in the U.S. is growing every year. In 2013 there were 697,000 individual franchise businesses and in 2017 there are 744,000. How do they keep growing? And how do they attract customers?
If you get a new dog and ask your next door neighbor where he gets his pooch primped, and he says “the place over on Main Street is the best ever, they do a wonderful job and they charge a fair price.” Boom, you’re sold. The best source for new business is and will always be word-of-mouth.
But what if you need more?
According to a survey of franchise owners in the U.S. word-of-mouth was the top source for new business. But next came, in order:
- Social Media
- SEO – Search Engine Optimization
- Pay-per-Click Marketing
- Content Marketing
- Public Relations
So, 4 out of six sources for referrals and new business come from digital marketing and that’s a source of revenue you simply cannot ignore in today’s world. Think of the channels that didn’t make the list: Radio, TV, Bus Benches, Yellow Pages. Young people don’t even know what Yellow Pages are!
So, which way do you go? Social? Search Engine Optimization? All of them?
It’s best to slow down and place a call to a digital marketing expert that has been around a while, not a start-up. Certain channels simply won’t work for certain franchises. Facebook, for example works very well for local, brick & mortar businesses. Twitter works well for financial businesses and B-2-B companies. LinkedIn can produce great results, but only for certain businesses. There is no one-size-fits-all approach when it comes to digital marketing.
Finally, you will want to select a digital marketing agency with the power of Big Data. That might sound kind of ominous, but it’s necessary to have access to a powerful database in order to properly target the customers you want to reach.
We love to talk to people just getting started in business, and if you’ve just started a new business or you’re thinking about it, please give us a call and we’ll have a conversation about your goals. 888-963-7824