As iFranchise Group CEO Mark Siebert explains in this recent Franchise Times article, from a franchise marketer’s perspective, it is important to remember that the franchise buying process starts with pain.
Franchise marketers must do a good job of reading and understanding a franchise prospect’s emotions and how those emotions play into the franchise buying decision. The franchisor must create a unique value proposition for prospective franchisees that solves some emotional need.
The franchise marketing and sales teams need to find and resolve that pain for the right prospect.
To do this, marketing and sales need to work hand in hand to provide the franchise buyer with a vision of what their future could be like if they would be willing to make a few changes.
So what we really have is a two-part process: creating unique value proposition and the communication of that differentiated message in a way that eases the prospect’s pain.
And while your first reaction here might be to punt this individualized messaging over to the sales team, the savvy marketer will embrace the individuality of emotional needs rather than running from them. But in order to do that, once you define what makes you unique as a company, you must make sure that you have a sound understanding of your target prospect.
Financial gain is a key motivator for many franchise prospects, but not necessarily the only motivator. When it comes to emotional marketing, one needs to understand why money is a motivator for your particular prospect. Some studies have shown that money falls behind other motivations in a franchise purchase, such as “general independence” and “being their own boss” and coming in only slightly higher than “doing something they love.”