Brand Strategy: Understanding Your Franchise’s ‘Why’
Now, more than ever, consumers crave authenticity. They want to see brands that are driven by more than just profit. However, many companies struggle to align their "why" with their audience's values. In some cases, they even have a hard time finding their raison d'être, an essential building block for an efficient brand strategy.
Unfortunately, this reality applies to franchises as well.
There's Always a "Why" in Brand Strategy
To attract and maintain an audience, it's vital to establish trust between brands and consumers. Defining a company's "why" generates trust among its target audience and reassures consumers that the brand's values are aligned with their own. Therefore, a business's "why" should be the fulcrum of its entire identity and resulting brand strategy.
The Importance of Brand Authenticity
As mentioned above, consumers prefer brands that seem genuine. They're tired of the same old sales company campaigns that shamelessly try to push their products or services on them. Nowadays, people are more likely to buy from businesses they can relate to.
An easy way to look at this is by taking it down to a personal level. When people meet somebody new, they tend to like them better if they are their true selves. Nobody wants to start a long-lasting friendship with someone that seems fake. The same goes for brands. When a company comes off as inauthentic, customers start to question its motives. As a result, they become more hesitant to begin a client-business relationship. That's why brands need to put a little extra effort into creating an identity that resonates with their audience.
What About Franchises?
Franchises understand the importance of creating a more genuine identity. But are they falling short of the mark? One of the advantages of becoming part of a franchise system is that this aspect — supposedly— is taken care of by the franchisor. Yet, a recent market study conducted by Scorpion Marketing revealed that's not always the case.
The surveyed franchise owners revealed that they don't feel supported in this department. The pressure of pursuing brand loyalty falls on their shoulders. The same goes for market differentiation and brand identity. As a result, franchisors might miss out on customer opportunities and new franchisee prospects. Giving potential franchise owners the feeling that they're going to have to take on that responsibility is likely to scare them off.
Hire a Franchise Branding Expert
Building a solid franchise brand is crucial – and even more, establishing an authentic "who we are and why" will build trust between consumers and businesses. It will attract the right people to get involved with a franchise network — either as customers or franchisees. Hiring an organization like Scorpion Marketing is a great way to make this task much easier. It gives franchisors a fresh perspective on their brand identity.
Tune in to The Global Franchise Podcast to learn more on how to find your brand's "why." Scorpion's senior vice president of strategic marketing, Patrick Crawford, shares valuable franchise marketing and branding tips.
