As we’ve written about previously, multi-brand franchising is on the rise. Experts estimate more than half of all franchise units in the U.S. are owned by either multi-unit or multi-brand franchisees. Franchisors are strategically developing new complementary brands and acquiring brands in adjacent industries to build brand family platform companies that diversify and synergize their franchise businesses.
Tags: MRM, marketing technology, marketing resource management, marketing operations, franchise, marketing technology buyers' resources, Restaurant marketing, multi-brand marketing, cross-selling, co-branding, LTO marketing
Even though 2020 may feel like the year of “going nowhere,” the truth is, many organizations are moving in new directions with speeds and efficiencies never seen before. The question for many is whether the crisis-driven changes they are making are temporary, or will they last as companies emerge from the challenges brought on by the pandemic?
As we, at Vya, have been working through the COVID-19 crisis, supporting the marketing and communications needs of our clients and developing our own marketing and messaging, we have learned from, and continue to reference, many useful resources. Here is a list of what I have found to be the most helpful resources for marketing during the coronavirus pandemic.
Sep 10, 2019
Word-of-mouth referrals and recommendations are the currency of business success today. More than ever, they are key to establishing trust and building awareness. According to Nielsen, 83% of consumers say they either completely or somewhat trust recommendations from family, colleagues, and friends about products and services, making them a powerful resource to amplify your message.
Tags: marketing process optimization, brand advocacy, MRM, marketing technology, Insurance Marketing, marketing resource management, local marketing, local marketing automation, franchise, financial services marketing, franchise marketing
Jul 24, 2019
For the past several years, Franchise Update Media’s annual franchise marketing conference has been a must-attend event for the Vya marketing team. This year was no different. What was different was the name of the event, which rebranded as the “Franchise Marketing Leadership Conference.” With the new name came a revamped focus on leadership and recognizing marketing excellence. The result was a new and meaningful experience.
In a recent post, we touched on the ever-increasing competition for qualified franchisee candidates. According to data cited by the Franchise Performance Group, some 4,000 franchise brands are competing for just under 14,000 new franchisees entering the marketplace. This level of competition requires franchisors to differentiate and create value for franchisees across every aspect of the business.
I recently attended the International Franchise Association’s Annual Convention (IFA 2019) in Las Vegas with my colleague Allan Greer. This was my first time at IFA, which is a bigger conference, with a broader franchise focus than the consumer marketing franchise events I regularly attend. What I liked about IFA 2019 was the chance it provided to learn more about the various roles within franchisor organizations and the challenges they face.
The latest industry research shows, that while national franchise brands continue to invest heavily in national advertising to build brand awareness and favorability, they’re increasingly taking their marketing programs to the local level to drive engagement.
I recently returned from the 2018 Franchise Consumer Marketing Conference, in Atlanta, and as with past FCMC events, it was a great place for picking up fresh ideas and insights from some of franchising’s most innovative and successful marketing pros and practitioners.
Could there be a shake-up on the horizon regarding national advertising funds paid into by franchisees for the purpose of promoting franchise brand awareness at the national level? The answer may very well be “yes,” as new research indicates franchisors are shifting from an over-investment in national-level marketing to locally targeted campaigns, in order to tap into the local movement that consumers are increasingly embracing.