Jul 21, 2011 | Coconut in the Media
Franchisor Advice Article written by Coconut Creatives Head of Media, Sally Butters:
Too often, companies forget that they need to take action to manage their reputation. They could have very happy customers but very few people really know about how great their products are or how superb their customer service is. How can you grow your business into new regions or markets without shouting about the great reputation you have? How will you attract the best franchisees?
The Chairman of the Institute of Directors, Neville Bain explains:
“Organisations need to apply more attention to managing reputation. Firms with strong positive reputations attract better people. This gives rise to a virtuous circle of greater efficiency, better relationships with customers and suppliers, and enhanced legitimacy in the eyes of society as a whole.
“In the absence of a good reputation, the ability of a company to create value is severely impaired. Boards need to be aware that reputation, like trust, takes time to build but can be lost in the blinking of an eye.”
In its most basic form, a franchise is a business opportunity that should already have a track record of profitability and market need which means that a franchisor just needs to help that good reputation become known to prospective franchisees.
In the Natwest bfa franchise survey 2011, word of mouth is top spot on how people first find out about franchising and specific franchise opportunities:
“When asking franchisees how they first heard about franchising, it immediately becomes apparent the extent to which word of mouth is key, both in terms of hearing about franchising in general, and about specific franchises. Friends and relatives are the most mentioned single source (24%) of initial awareness.”
Whilst the survey continues to evidence that people use a variety of sources and online and offline media in their research phase of the journey to becoming a franchisee and confirms that a franchisors should take a multi-channel approach to franchise recruitment, it is clear that testimonials are a must have in a franchisor’s marketing kit. This is confirmed within the decision-making process of a prospective franchisee:
“Again, as with the initial awareness of franchising, we see the importance of the personal touch in this industry, with high proportions citing a reason as ‘liking the people’ and ‘recommendation from existing franchisee’.
“Franchisees make careful decisions. Unsurprisingly given the personal and financial investment involved. On average franchisees said they had sought advice or made checks with 6 different sources prior to signing their franchise agreement.
Judgements relating to the franchisor offer and the impact of running the franchise on their lives are the most frequently made assessments, In terms of external consultations, contact with existing franchisees is crucial in terms of assessing profitability and their opinion of the franchisor.”
So, it is clear that franchisors need to take the time to review the reputation of their franchise business and how they manage it. I would recommend building this in to your marketing plan on a monthly basis; your advertising copy, online profiles, press release, video blogs, and internal communications. Every member of staff should be aware that everything they do can impact on your reputation and ultimately, the future of the business.
Here are a few tips:
- Take time to collect and review customer and franchisee feedback – quickly acting on poor feedback turns a bad experience into a good experience.
- Keep an up-to-date bank of testimonials
- Update your online and print marketing materials on a regular basis with your latest testimonials
- Take time to train staff and franchisees in your ‘perfect pitch’ – you have 90 seconds to explain what you do, how it can benefit who you are talking to and prove how it has benefited others
- Make your franchisees your ambassadors; take them with you to networking meetings, exhibitions, and discovery days.
A consistent message is king; communicate this in everything that you do and a prospective franchisee will feel confident in building a relationship with you!
Mar 22, 2011 | Coconut in the Media
Sarah Cook spent an unusual evening on Tuesday 8th March. She met Duncan Bannatyne, Theo Paphitis and Deborah Meaden at the Royal Courts of Justice in London for an evening of fine dining and conversation, along with a handful of other high profile business individuals. The evening was organised by the Make a Wish Charity.
“They were all absolutely lovely,” explained Sarah. “We talked about all sorts of things from Coconut Creatives to shoulder surgery. They each had a fantastic outlook on life, business and were thoroughly enjoyable company. Certain Coconut clients were also brought up in conversation which generated some unusual dragon interest in the franchise sector.”
With links such as these, who knows what future projects could be in the pipeline…
Sarah will be discussing more about her experience with the Dragons on the next Coconut Franchisor Marketing Workshop at the Langtry Manor in Bournemouth, 13th April. This workshop will focus on hot tips for franchise recruitment and look at ways franchisors can improve their franchise marketing during the individual 1 to 1 sessions in the afternoon.
Dec 12, 2007 | Clients in the Media, Coconut in the Media
A trip to visit some of the poorest parts of India has been planned to expose the truth behind Fair Trade between 5 – 18th January 08. Coconut Creatives Directors Sarah Dyer and Christopher Cook will be accompanying Jeremy Piercy and a small team of his staff to New Delhi, India to see what impact Shared Earth’s Fair Trade work has had on developing areas.
On our return the full story will be featured in national, regional and green/ethical magazines.
Key Story Features include:
· True Stories; from children who were reduced to selling their bodies at train stations
· Fair Trade survey – what people in the UK understand about Fair Trade
· Facts & figures from the International Fair Trade Association
· Indian Artisan Interviews; life before Fair Trade and how it has changed them
Follow the India Trip Live!
To follow the India trip live visit the Shared Earth blog site through www.sharedearthnewsandmedia.co.uk. Gain access to daily interviews, images and quotes.
To receive a full report pre & post India trip please email sarah@coconutcreatives.co.uk or call 01963 31030 for further information.
Why is this trip so important?
Because we are reporting back on the positive impact Fair Trade has had on the lives of so many people world-wide. Examples of what we will be reporting on are:
1. Reducing Begging & Prostitution of Children
There is an orphanage for street children near New Delhi, where women from local villages come in to make bags and other products to fund the orphanage. Recently, 3 of those children, who had formerly just begged and sold their bodies on railway stations, had grown to the age of 18 and were confidently in charge of 3 of the craft workshops. “It was a real joy to see them looking so happy and fulfilling such responsible roles,” expresses Jeremy, Fair Trade campaigner and founder of national retail organisation Shared Earth.
2. Fair Trade Philosophy
Jeremy would like to see a change in our society away from its materialistic attitudes to life, “I’d like people, especially young people, to understand that it’s what you do and the way you work that matters, not just how much you earn. If people actually started to realise that caring about other people makes YOU more happy, as well as those other people, then attitudes might change and society could only be the better for it.”
Watch this space!
Nov 16, 2007 | Clients in the Media, Coconut in the Media
Shared Earth held its first ‘Discovery Day’ on Thursday 15 November, to introduce potential franchisees to Shared Earth and explain what is involved in its franchise package. Seven people attended from a variety of towns around the country and feedback was positive, with almost everyone wanting to progress to the next stage of undertaking detailed interviews and searches for specific suitable properties.
Coconut Creatives has been working with Shared Earth since September to create and manage the public relations launch of the franchise package. With very little advertising undertaken, the campaign has been hugely successful with national, regional and industry specific PR and Media interest being aparent. Since the launch of Shared Earth’s franchise scheme in October, over 70 people have expressed an interest, including two current wholesale customers who have approached Shared Earth to discuss the possibility of converting their shops into a Shared Earth franchise.
To prepare for the opening of the first franchise, Shared Earth is undertaking a major re-branding exercise in their existing 7 shops. A new green colour has been agreed for outside walls and windows, and all shop signs are to be unified, hopefully with the letters made by Fair Trade supplier Mitra Bali in Indonesia.
