How Hyper Local Should Win the Franchise Development Game

Almost all franchise development executives have used the words “I need more leads” before. Sure, mathematically, more leads should equal more deals—and more deals should equal happier CEOs. However, in this ever-changing world of sales marketing and awareness campaigns, that may be the wrong way to approach it.

Today, you don’t have to blanket a marketplace to gain lead awareness. You can become much more dialed in and hyper focused in the exact markets you wish to target. In fact, you can even be hyper focused on the exact person you want to target thanks to the endless flow of personal data we provide on Social Media sites. Yet, an old school mentality pushes us to spend dollars in traditional outlets.

I have a client who bought a full-page ad in a top trade magazine—paying $10,000-plus for a blanketed crapshoot in hopes of snagging the attention of a multi-unit or multi-brand franchisee. Challenge one is that it typically takes a multitude of impressions to make a regular buyer buy—and even more for a multi-unit operator. Challenge two is that a qualified and ready-to-buy buyer would have to see that exact ad and feel an emotional connection in that moment. And challenge three is that the ad is limited in how much it can say and the amount of information it can provide to the buyer.

To me, a single full-page trade ad purchased is like playing a Vegas hand of war—clearly, not the best odds and it doesn’t play to the skill set of the gambler.

Now, some of you may say—did he just say trade print ads are dead? No, I didn’t. I said a single—as in one full-page ad crapshoot—does not have the best chance at leading you to the glory land of the ideal next franchisee. But, I get it. With limited budgets, crapshoots are all some of us have. We are spending our efforts praying that one of those ads will land us the unicorn that will propel our brand forward.

Unfortunately, the chances of getting rich when walking to the table with $10,000 is unlikely. Some may win the lottery—most won’t.

Thankfully, though, there are options.

In today’s digital world, brands can focus their ads very locally and affordably. It’s still a crapshoot, as you are still trying to find the needle in a haystack, but, you will have more at bats and more impressions in a cost-per-click world.

If you bought that trade ad in every issue, maybe that would equal the same opportunity—but you would spend much more and the risk would be greater. I highly doubt unicorns buy based on an ad—and chances are, they already know you. Consistency of a message—and reinforcing that message in the markets that make the most sense to grow in—seems to be the safest of risky bets.

If I was on a mission to win with ads and marketing, I would narrow my market growth focus and pour as much capital as possible into that single market—setting me up for the greatest shot at market momentum, opening stores, creating even more momentum and finding more buyers.

Hyper focused gives you the best chance at winning.