Franchise Advisory Board | Expert Franchising Advice for Franchise Leaders 4 Pillars Every Franchise Needs for Consumer Marketing Excellence
Sep 3, 2024
39:41
Welcome to another insightful episode of The Advisory Board Podcast, where we bring together industry experts to share their wisdom on building successful and thriving franchise brands. In today’s episode, we’re thrilled to welcome Karen Wenning from Suttle-Straus. Karen is a seasoned professional in franchising, with a deep understanding of marketing automation, brand compliance, and customer journey optimization.Episode Highlights:
- Customer Journey Insights: Karen dives into the importance of fully understanding the customer journey, emphasizing that many brands miss out by not mapping it out effectively. She explains how this lack of insight leads to marketing strategies that fail to resonate with the target audience, resulting in wasted resources. By adopting a multi-channel approach that maximizes customer touchpoints, brands can enhance engagement, speed up conversions, and ultimately build a loyal customer base. Karen shares specific examples and strategies that franchises can implement to create a seamless and effective customer journey.
- Blending Digital and Physical Marketing: In a world increasingly dominated by digital marketing, Karen highlights the ongoing relevance of physical marketing channels like direct mail. She explains how the integration of digital tools, such as QR codes and social media retargeting, with traditional direct mail can significantly boost the effectiveness of marketing campaigns. Karen introduces the concept of "direct mail on steroids," where digital and physical marketing efforts are synchronized to create a more immersive and impactful customer experience. Her insights into using big data to re-engage potential customers who have visited a website but did not convert offer a sophisticated approach to improving marketing ROI.
- Understanding Lifetime Value (LTV): Karen brings attention to the often-overlooked metric of lifetime value (LTV). She discusses how franchises can accurately calculate LTV to assess the true effectiveness of their marketing efforts. Understanding LTV allows brands to see beyond the immediate returns and focus on the long-term value of customer relationships. Karen provides actionable advice on how to convert one-time customers into repeat clients, thereby maximizing the return on marketing investments over time. She also touches on the importance of ongoing customer engagement and how it contributes to sustaining revenue growth.
- The Power of Brand Compliance: Karen addresses the critical issue of brand compliance, especially in the franchising sector where maintaining a consistent brand image is crucial. She explains how inconsistent branding across franchise locations can undermine brand equity and confuse customers. Karen offers practical solutions for franchises to enforce brand standards without restricting local operators' ability to adapt to their markets. By using brand portals and other tools, franchises can ensure that all marketing materials adhere to brand guidelines, which helps in building and sustaining customer trust across all locations.