Facts, not Fiction, Lead to Franchise Success

The following is an article submitted by Guest Author, Katryn Harris. Katryn is the CEO of Open Box, a company focused on helping franchisors use technology to build their franchises. She brings her background in management, business strategy and communication as well as her team of technical experts to work with franchisors, ensuring that their technology fits their business strategy and moves their franchises forward. Be sure to check out Katryn’s blog.

Feedback Loops and Franchise Success
By Katryn Harris

A few days ago, I was talking with Greg Nathan from the Franchise Relationships Institute about his software product that helps franchisors select franchisees who are the most likely to succeed.

In brief, the Franchise Relationship Institute does this by benchmarking characteristics & traits of past successful franchisees and then providing a system that compares new applicants with those traits and characteristics.

Greg is a trained psychologist and works strong in the scientific tradition; hypothesize, measure, analyze and then compare results with hypotheses. One of his current projects is the validation of the exact extent to which is product is successful in predicting new franchisee success and, not surprisingly, his results will be fact based & very precise.

Listening to Greg talk about the validation project, I was struck again by how vital these feedback loops are to franchise growth.

Successful franchises implement the best programs and systems they can come up with, but then they measure, analyze and adjust based on the numbers and results (rather than what they ‘think’ is happening). And the faster they can complete this cycle (and then start it up again), the more likely they are to be successful in the long term.

From 1-800-GOT-JUNK?’s Net Promoter measurement tool to calculation tools for attrition rates to sales performance indicators, business growth is fueled by knowing exactly what is actually happen so the best actions can be taken. One of our customers ties client satisfaction records into payroll bonuses for their employees, which is a great motivator to get everyone in the company on board in trying their hardest to keep the clients happy – you can imagine what that has done for their referral and return customer rates.

What are your best scientific tools to create feedback loops and do more of what is working & change what isn’t?


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Huge Growth Projected for Social Media, Mobile and Email Marketing!

As the following article and graph points out, it is projected that social media marketing, mobile marketing and email marketing will experience huge growth through the year 2014. franchisEssentials has projected the same, and has geared up to provide clients comprehensive, technologically advanced marketing services and strategies. Complementing its own expertise and increasing success in social media marketing, franchisEssentials has recently aligned itself with several leading marketing and support organizations. To address email marketing and mobile marketing, it has entered into Strategic Partnerships with iVideo Makers (aka Franchise Video Makers) and Strategic Growth Concepts.

iVideo Makers bring an exciting combination of video and audio products that take email marketing to new levels of message delivery and professionalism. Quite frankly, nothing compares. It’s newest product, iVidMail is state-of-the-art and is used to create video email campaigns with extensive audio and video capabilities, complemented by an expansive tracking and reporting system.

Strategic Growth Concepts utilizes years of experience and expertise in mobile marketing and cellular technology to create successful mobile marketing campaigns for franchise organizations and independent small businesses alike. Utilizing more strategy than a particular product, and capitalizing on the increasing popularity of the iPhone and Blackberry, Strategic Growth Concepts keeps itself on the leading edge of the rapidly expanding mobile marketing market.

franchisEssentials has also entered into Strategic Partnerships with Arment Dietrich PR, Open Box, SmartFinds Marketing and AssociAD. These highly successful organizations are focused on public relations, custom software development and tech support, internet marketing and direct mail marketing, respectively. franchisEssentials is excited by its ability to offer clients extensive and comprehensive marketing and emarketing services, as a one-stop marketing and development company, for years to come.

Forrester Predicts Huge Growth for Social Media Marketing [and Mobile Marketing and Email Marketing]
as posted on Marketing Pilgrim Friday, April 24th, 2009 by Andy Beal

Forrester Research is holding its own conference (Forrester’s Marketing Forum 2009) down in Orlando and has just revealed its predictions for the growth of online advertising. The bottom line is that social media and mobile will be the hottest, but just about everything will see an upward trend.
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