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Depending on where you live, businesses are reopening, many with restrictions on locations and social distancing. Some organizations have gotten creative with their services and products, modifying their offerings to increase revenue and ease of access. For franchisees, now is the time to pursue additional marketing opportunities to secure future customers and revenue.
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1. Make Friends and Allies
We are all in this together, right? In business, it’s the same way. Make use of your many contacts and other neighborhood businesses. Partner with other like-minded entrepreneurs to expand your reach. This could mean working more closely with other franchise owners and local businesses. You might refer customers to each other. Or share valuable assets like equipment or store space with another business for efficiency's sake. If you haven’t gotten to know the other business owners around you, reach out and see how you can create mutual benefits.
2. Expand Your Reach through Technology
Even if it’s not your strength, an online presence is critically important during this time. Customers are at home and using technology to find services and products. Be sure your website is current and addresses important changes like hours and covid-related precautions for customers and employees. Reach out with newsletters, emails and updates. An improved and strong online presence now will elevate your franchise for the future.
3. Reward Loyalty through Referrals
Ask for referrals from customers and offer an incentive of a gift card when a new client comes in. The offer provides a reason for a new client to walk in and rewards your current customer when that happens. There is a cost, but this way, your offer builds loyalty and brings in new revenue. Since you are giving a gift or discount only when a new client uses your franchise, the cost of customer acquisition is very low.
4. Go Gift Card Crazy
Use your online communication with customers to promote gift cards. These are simple and highly effective ways to generate new customers. With a good word from a current customer and a card in hand, you will have people utilizing your product or service. The financial plus? You get the use of the funds now when your customers buy the cards. That is a big boost for franchises that have seen a reduction in cash flow.
Our pandemic era can be a good time to develop affinities with customers and other businesses. Develop those relationships in ways that keep costs low while rewarding loyalty. A little creativity and cooperation will bring both current and long-term rewards for your franchise.
Anne Daniells is a co-owner of Enterprising Solutions, a professional services firm specializing in corporate communication and financial improvement for businesses where she shares decades of corporate and entrepreneurial experience—including franchise ownership—in her writings on business culture. She has authored hundreds of articles for publications including AllBusiness.com, TweakYourBiz.com, and MSN.com. Reach out via her website for more on where corporate culture, communication, and human architecture collide.