So, 2016 had been a daunting year for most business owners in Singapore.
Any F&B entrepreneur running an operation locally would attest to that, and probably prepared to face worse this year.
2/3 of businesses in Singapore (63%) were reported by Singapore Business Federation (SBF) lately in a news article to have suffered deteriorating sales over the last 12 month, and nearly half (48%) expecting to face further decline in 2017.
Consider us warned and quite enough of this depressing news.
Let’s get our focus on putting together a combative long-term strategy that can propel us forward from this profitless market.
We’re talking about an internationalization plan.
One tailored specific for your F&B business brand, carrying the main objective of increasing profit revenue and growing an international brand presence in the interim.
Franchising In The F&B Industry: The Highest Succeeding Global Business Expansion Model
Do you consider yourself a serious F&B entrepreneur?
If you are answering yes, we'd assume you have already gotten a headstart in franchise marketing as a business expansion investment at some point of time.
In comparison to the other viable option of opening company-owned outlets (which is more costing and tedious), franchising your F&B brand is the smarter, savvier choice for increasing revenue growth while capturing a bigger consumer base.
Click to review Singapore Productivity Center (SPC)’s detailed study, ‘Franchising as a Strategy for Productivity Improvement for Singapore’ for a success evaluation of homegrown enterprises that have ventured into the international franchise market.
The study report concluded franchising a highly effective business expansion model, advocating it to be a priority on every local company’s agenda.
A Franchise Recruitment Strategy Catered To Local F&B Businesses Struggling With Internationlisation Success
If you have kept up with our previous blog article, " 5 Factor Urgently prompting Local F&B Businesses Towards Internationalisation" or current economy news reports, you must have gotten wind of Singapore's SMEs' frustrating struggles with repeated unsuccessful internationlisation launch attempts.
In spite of the generous increase in financial subsidiary from our local government, coupled along with numerous new support initiatives; recent reports revealed how the majority of local F&B enterprises continue to yield unsatisfactory results.
" Why A Franchise Recruitment Strategy? "
Stick with us to understand how building your web or e-commerce site around a strong digital foundation tears down geograhpical barriers, allowing easy access for market infiltration in any global region.
Expert digital marketing incorporated for franchise recruitment executes as a brilliant internationlisation strategy; and is every struggling local F&B business' winning ticket to successful diversification away from a profitless market into vast global expansion opportunities.
The proper incorporation of a sound franchise recruitment digital strategy will function to attract franchise-buyer prospectives all across the world, possibly launching our struggling F&B businesses to new expansional heights despite the looming economic recession.
How A Franchise Recruitment Digital Strategy Works Brilliantly For International Business Expansion
A franchise recruitment digital strategy serves two main purposes:
1. To increase the engagement of franchise search traffic by satisfying searchers' franchise-buying curiosity with the most relevant and useful information.
2. To convert as many web visitors as possible into qualified franchisee prospective leads.
Simply put, franchisors need a website that converts targeted visitors into engaged leads, who will then be receptive to receiving a thorough follow-up sales call.
We live in a digitally connected world today, enchained by our internet resources and devices; and we hope you've noticed the drastic shift of sales processes from offline to online.
Thanks to powerful online search engines eg. Google and proliferating media platforms, potential franchise-buyers are empowered with the accessibility to derive research information at their fingertips today. They no longer feel dependent on franchise portals or business development franchise consultants to arrive at a buying decision.
The tables have turned.
Potential franchise-buyers are now in control of the entire sales process.
Franchise-buying prospects research well and will only invest in brands donning a strong online presence eg. with news/media coverage, social media engagement, blogs, multimedia productions like YouTube videos, etc.
In their preliminary round of online research for a first selection of the most favourable F&B franchisor brands, what will pique their buying interest more than your company's products and services, is your brand's story.
"People dont buy what you do, they buy why you do it."
Now, for the important questions:
Is your F&B Web Design strategically developed to align with franchise prospective buyers' research processes and buying-behaviour?
Does your website tell your F&B brand’s mission and its heritage?
Are you consistently finding ways to share your brand's story and its journey for your franchisee prospects to feel purposefully connected with?
Are you impressing them with a brand experience uniquely yours by the end of their browsing session?
Does your website showcase your business' structural work-flow clearly, strategically designed to cater and appeal to different franchisee prospect group targets you identifed?
An adroit franchise recruitment digital strategy takes care of all of that.
With traditional marketing dead, (eg. expos, trade shows, print/ radio or TV ads, cold-calling) clinging onto old franchise marketing paradigms will ensure you never get your ideal list of franchisee prospective leads.
Latest digital marketing techniques have all been heavily re-formulated with inbound methodological processes.
A digital strategy built and glued by inbound processes, is buyer-centric.
Hence, it goes without saying that the more buyer-centric your marketing strategies are, the better sales result you will achieve.
The same theory applies in a franchise recruitment strategy.
Larger F&B chains have to come to terms that “buying prospects over" whether with a strong franchise portal presence, business affliations in the global franchise industry, or expensive media and technology installations, all don't work so well anymore.
On the contrary, any F&B business regardless its size has now an equal opportunity, on a same playing-field, to create brand awareness and an online presence in the highest cost-saving efficiency; by appropriating the right digital marketing expertise.
Now, you're probably thinking that's all easy to say, but exactly how is it done?
We break it down into a comprehensive step-by-step summary guide for your better understanding, below.
4 Inbound Stages Forming An Effective F&B Franchise Marketing Digital Strategy:
Attracting Franchise Buying Prospects With Your F&B Website
Is your F&B website strategically personalised and catered to attract the right online traffic?
What we mean, is that you want your web traffic to be those with genuine franchise buying interest.
A first instinct may naturally be to attract as broad an audience base as possible. However, remember that you ultimately want qualified and suitable franchisees carrying your F&B brand. Hence for this purpose, quality always triumphs quantity.
So, how can your F&B franchise website attract traffic and engage the right prospects right on their very first visit?
Strategically and regularly blogging for your business demonstrates expertise and thought leadership, bolstering your brand and online presence unique and superior to the rest; gradually building up trust among prospective readers, accruing brand loyalty.
Blogging for Business: Ultimate Dos And Don'ts Local Retail Brands Should Hop On The Blog-wagon With
Why Do Most Companies in Singapore Struggle with Content Marketing
Building a multi-site website that includes a centralised main page for your overall F&B brand allows easy navigation for web users. A franchise recruitment website should be seperately developed and personalised with a strict focus, seperate from other business goal targets. A competitive web design strategy is vital in order to effectuate the ideal buying action of the right prospective audience at the right time.
Is Your F&B Web Design Strategy Keeping Up With Time?
Ultimate Web Design Guide To Top Performing Websites For Your Business
Optimizing your website for the search engines (Google) is crucial for your website to rank primarily in front of your competitors. Getting found by potential franchise buyers during their research processes is the whole reason we're doing this. There are strategical SEO practices you should be following to optimize that chance.
eg. Optimizing your page title around geographically specific key words to minimize competition in different country locations of different targeted franchisee prospective groups.
Not a pro in SEO?
Check your current F&B website against all its SEO practices with our ebook (free) below. Know what is necessary to implement and what to avoid.
While it's not too clever throwing all your eggs into one basket, banking solely on social media as your main marketing strategy and outreach platform, it's also not smart disregarding social media's powerful influence (eg. Utilising social media to spread your marketing or branding initiatives). Social media platforms, particularly Facebook and LinkedIn have increased many targeted and effective paid advertising opportunities today.
Converting Web Visitors Into Qualified Franchise-buying Leads
The inability to generate qualified franchisee prospective leads is the biggest stumbling block all F&B marketing and sales teams face today.
This stage process ensures the effective conversion of your web visitors into qualified leads by matching appropriate lead generation tactics with your prospects' buying behaviour.
When franchisors adapt their lead generation tactics and recruitment strategies to align with their prospectives' buying behavior, they see dramatic increases in results.
A website that converts should have:
- Effective landing pages and online forms
- A page acquiring and accumulating your leads’ contact details and other relevant information
- A data tracking and monitoring system to ensure all strategical plans are improvised in the right profiting direction consistently.
Closing International Franchising Deals
This stage functions in helping your web business close the right prospects at the right time.
It is also highly suggested that you build and nurture an email campaign that connects with your leads as an opportunity to provide more helpful and relevant information. (eg. addressing more crucial needs, countering any franchise-buying objections they may have)
This email lead nurture campaign can be started off using your CRM or acquitting email service system or provider, all at minimal costs.
Automating your lead nurturing process optimises the efficiency of your franchise marketing and sales efforts.
(Click to view Hubspot's CRM)
Delighting Franchisees And Opening Up More Business Expansion Opportunities
Closing a franchise buying sale is only the beginning of other business opportunities.
Continue to provide valuable information and operational insights through close looped reporting and also by incorporating a franchisee portal.
Delighting your now franchisee fosters the cohesion of a loyal, involved and well-functioning community. This strengthens your brand’s international presence in their residing operation locations, exposing you tons of other business expansion opportunities in their region and neighbouring ones.
Adapting Your F&B Franchise Recruitment Website With Latest Web Developments To Meet All Sales Objectives
Leading web development systems for a higher profit-earning web or e-commerce site:
- Content Management System (CMS)
- E-commerce/ Shopping Cart System
- Social Networking Portals
Analyzing Sales And Marketing Performance Accurately
You can be sure that data driven marketing always leads to successful achievement of any set business objective or sales goal.
Money is why we're running a web biz or e-commerce, regardless for your main F&B operation or franchise recruitment.
Every business owner should be adept at measuring the profitability of their web business in highest accuracy.
Are you developing and adapting your website in the right areas, optimising your web business profits wisely?
Scraping what's wasting your time and money?
The sky's your limit when franchisee-prospecting in the digital world.
With precision and consistent effort, you will have the franchisees you ideally want, regardless how geographically distant they are locationally based.