Franchise Advertising and Marketing Strategies in the Current Economy
Reading through the news today it seems restaurant franchises are willing to do just about anything right now to get customers in the doors. The major hamburger franchises have always offered toys and collectable glasses to purchasers of certain meals. Additionally, some of the larger franchises conduct games annually, or almost annually, where customers can win high dollar prizes, including cash—think McDonald's® Monopoly® game. Kentucky Fried Chicken just unveiled a new sandwich with no bun! Yes, I said no bun. Other Franchises such as Tropical Smoothie Cafés and CiCi's Pizza are offering customers the chance to win VIP trips to Hollywood studios and Pizza parties where families can get coupon books.
Not every business has the financial resources like McDonalds® or other larger franchises. So what does a smaller franchise or business with more limited resources do to get the customers to their stores? I think one thing franchises can do is focus on their core customers. Offer a specific gimmick that would appeal to this unique group. Another strategy is joint advertising promotions. This means teaming up with a complementary business, and develop a promotion to benefit both businesses.
What kind of approaches are you using to maintain and grow your business or franchise in our current economic times? Are they working? Please, feel free to share.
