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Time to draw new customers to your store

Tags: experienced franchisee, customer loyalty, Donald Boroian, Chairman, Francorp, USA, marketing strategies, advertising model, social websites

BY | December 08, 2009 | comments ( 1 ) |

 
Time to draw new customers to your store

Your franchised outlet, which was thriving till recently, suddenly witnesses low sales as you have a fixed footfall of loyal customers. Having repeated customers and not attracting any new ones can hamper the profitability of an outlet. Read below to draw new traffic to your franchised store

Franchisees who have been running an outlet for quite some time and are happy that they have loyal customers, need to re-check their marketing plan. Having repeated customers and not attracting any new ones can hamper the profitability of an outlet. According to Donald Boroian, Chairman, Francorp, USA, “If 80 per cent of your customers are the repeated ones it is time, you employ unique strategies to get new customers.” He further added, “The biggest mistake that most of the franchisees make is stop marketing their outlets after having a few loyal customers.” Before reading more on the marketing techniques to popularise the outlet, let us first decide when to employ these.

Indicators of revamping marketing strategies

It is human tendency to feel contended when one is doing well. In the initial stages of opening an outlet, all franchisees tend to spend a lot of time and money on the marketing of their store. But after making their store popular, most of the franchisees start depending on the regular customers. In case you are one of them, you need to concentrate on the footfall your store is receiving. Make sure that the list of customers visiting your store must have novel additions besides loyal customers. If the list of customers does not have any new addition then it is time for you to incorporate new marketing strategies to rope in new ones. Below mentioned are few indicators to alert you to revamp your marketing strategies.

  • Majority are regular customers: The first and most important indicator to revamp your marketing strategy is when you come across new faces in your store rarely If this is the case, then definitely it is time for you to employ new strategies. In this context Boroian said, “If you have been in business for long, there is no need to be proud that majority of your patrons are the regular ones.” 
  • Dwindling sales: Franchisees need to check their accounts themselves instead of depending on the accountants. Remember, it is not their business but yours! If you notice even a meager decline in your sales, then it is the right time to develop a new advertising model for your franchised outlet.
  • Reaching saturation point: Sometimes the franchise may reach a level when the sales are neither increasing nor decreasing. It can lead to dissatisfaction and the best way to deal with it is by taking marketing assistance.
  • Adopt latest technologies in vogue: A good franchisee must keep upgrading his marketing technology as per market trends. With India becoming a business hub the market is bound to be swamped by newer technologies. So a franchisee should not miss any opportunity to employ unique ideas of marketing in your business.

Traditional and modern marketing strategies

There are many traditional ways to increase customer traffic. You must have employed these when you had opened your outlet. Advertising in newspapers, magazines, radio and television are some of the traditional means. But now, it is time for something new and different. According to Borrian, “If you had opened your outlet five years back, do not stick to the same marketing strategies. Times have changed, and so, you also have to employ newer ways of advertising.” Let us look at some of the modern marketing techniques to increase foot fall and rope in new customers.

  • Offering coupons: Whenever you see any new customer in your outlet always try to create goodwill. One of the ways of doing so is by offering discount coupons. It can be of a small amount, but it will make the customer satisfied that he/she could save some money.
  • Pitching hoarders: Another economical way of marketing is pitching large hoarders or posters at places with high footfall. People would always see them and surely visit your store.
  • Social websites: One of the recent developments in marketing techniques is launching your own website. When people search for your brand on the social websites, you would indeed like your franchised outlet to be listed on it. This would attract a large footfall.
  • Word of mouth: Publicity through word of mouth is very important in making a franchise popular. When a customer enters the outlet for the first time, he/she should get a lot of attention so that when he steps out, he recommends your outlet to many others.

For all experienced, new and aspiring franchisees, it is always advisable to employ traditional as well as modern marketing strategies. Do not be satisfied with your present status, strive to grow taller.

 
 
 
 
 

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Please add your comment

Chandan Jha
February 13, 2011 at 7:50 am

Reply |  

In this era, please also suggest the best way to sign very first new investor/ franchisee?? As per survey do you have data regarding actual ROI should be committed to the franchisee to meet their satisfactions?

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