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Key Strategies for Aspiring Entrepreneurs Considering Franchise Ownership

Strategy Driven

Navigating Your Franchise Journey Embarking on a franchise venture is an exciting escapade into entrepreneurship. At this juncture, the guidance of seasoned franchising consultants can be invaluable, offering insight into the complexities of franchise ownership. Financial forecasting and budget management.

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How Franchise Owners Can Use Customer Service to Outdo the Competition and Grow Their Business

Strategy Driven

With the bar set so low for customer service, franchise owners are well positioned to jump ahead of the competition. They’ll awaken customers from their lifeless transaction trance and prime them for excitement, loyalty and spending. Customer service is your absolute best form of marketing. Elevate the customer’s emotions.

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Brand Real

CEO Blog

I read Laurence Vincent's book - Brand Real - How Smart Companies Live Their Brand Promise and Inspire Fierce Customer Loyalty. We like consistency and good brands (like many franchises) deliver that comfort. I like to think I am a sophisticated consumer who is not influenced by marketing and brand. Brand does also.

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Will Moneyball Analytics Kill Loyalty and Leadership?

Harvard Business Review

After looking hard at the numbers and algorithms, the smartest — and richest — general managers and franchises have made up their collective minds: They're not paying a premium for yesterday. The cultural values of loyalty and leadership are being redefined by the economic value of forecasting methodologies (PDF).

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Social Media Is Too Important to Be Left to the Marketing Department

Harvard Business Review

Some companies increase their social media staff to offer live responses during big events like the Super Bowl or the Grammys, but then they return to predominately one-way social media or content marketing. Here is a simple process from my book Social Media Strategy, Marketing, and Advertising in the Consumer Revolution.

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Sales Bonuses Are Supposed to Motivate, So Don’t Waste Them on Easy Targets

Harvard Business Review

Franchise sales have nothing to do with salespeople. Customers may buy from a firm because the company has superior products, great branding, effective digital marketing or favorable pricing. Examples include sales from long-term contracts and sales from customers who purchase out of loyalty, habit, or desire to avoid switching costs.

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Star Wars, Disney, and the Fandom Menace

Harvard Business Review

Abrams to direct the next movie in the franchise, the folks at Disney must be feeling some relief. Customer loyalty like this might seem like a nice problem to have—and it is. The irony here is that the Star Wars franchise has been focused on licensing and new-platform development for years. Acquired in 2006 for $7.4