Tag: Paul Segreto

True Social Media ROI – Relationship & Community Building

December 10, 2013December 11, 2013 ·

Certainly, return-on-investment (ROI) is important but too many miss the boat by trying to make social media a line-item on their financials. First, social media is not advertising. So to think there will be a definitive ROI based entirely upon revenue generated against dollars invested is absolutely off-base.

One needs to look at social media as the glue that can hold several key functions of the business together such as bringing the customer experience to marketing complete with sharing operations role in making the experience positively memorable, and letting the end-user know about its objectives. Complicated? No, but not without proper planning and a long-term vision. Further, social media is vehicle that transports information from one function to another – it’s a conduit.

Social media is the communications tool that should lend itself to truth, trust and transparency in establishing or strengthening the business relationship. Last, social media is the tool that enables a brand or business to earn the right to “ask” for business from customers, clients and investors alike as it provides the platform for them to virtually see how your business operates, how it communicates and how it is perceived. The key here is in establishing community. The necessary steps are relatively simple to follow… Share, Interact, Engage and then, only then have you earned the right for a Call-to-Action. Yes, that’s when the right has been earned.

It does take training for social media to be utilized effectively at any level. But even more so at the local level as franchisees typically cannot afford the luxury of adding human resources to handle their social media. So, training and guidance is paramount. As is open communication and interaction between franchisor and franchisee in managing and monitoring social media. Yes, working together with common goals and objectives, as should always be the case in the franchise relationship. This is just another component of what I believe should be the everyday goal of working towards a truly interdependent relationship. The same should be said about all relationships in a business [and franchise] environment – franchisor/franchisee, employer/employee, business/customer, etc… Yes, it should be the norm, and not the exception.

Value-added Discussions – A Linkedin Best Practice

October 24, 2013November 9, 2013 · 1 Comment ·

In a recent discussion within the LinkedIn Franchise Executives group a question was asked about how best to present products and services to group members. The question stemmed from a revision in group rules put in place to keep the group focused on its objectives of exchanging ideas, sharing information, and promoting best practices within franchising. By attempting to eliminate the clutter of self-promotion, MLM opportunities, and even franchise opportunities, revising the rules was seen as the most practical way to retain group members and increase participation.

Here’s the question and my response regarding value-added discussions…

Question: “Outlining some guidelines is an excellent way to embark and start bringing a format or platform to enhance value to the group, congratulations on your initiative.

Please tell us at what point information and value added discussions should be introduced to the group in your mind. I think anyone here is interested in gaining value and as well, sharing value, but it all sooner or later leads to developing new business, directly or indirectly, that is mutually beneficial. There is a fine line between “advertorials” and “value exchanges”. Are you able to define further what format, discussion or response you think would serve the reader and the writer (group members) best? ”

Answer: “I believe value-added discussions can be introduced at anytime. However, I do believe it’s a social networking best practice to “earn the right” to do so by getting to know group members, participate in group discussions, and contribute to the same.

Then, based upon a perceived group or industry need, I suggest initiating a discussion about that need (or challenge / issue). Certainly, one can lead into presenting within the discussion details of their product and how it could satsify the need, address the challenge or resolve the issue. The key is not to immediately shove the product or service down members’ throats.

I believe what is often overlooked or ignored, is that group members, especially ones being sold to, have knowledge about franchising, are aware of the needs, challenges and issues the industry is facing, and may actually be aware of the companies providing services and products in the area of concern. What they may not be aware of is the person presenting a company’s products and services. And, people buy from people, right?

So, I recommend anyone with the objective of selling products and services be a person first, by developing relationships with group members. Then, be perceived as an expert in your field by sharing knowledge and experience through participation. I believe sales should follow…

As an added note, I believe the same process works within other social media including Facebook and Twitter, with platform appropriate modifications to plan.”

This post originally published January 2011.

Personal Branding and the Power of “YOU”

February 1, 2013February 2, 2013 ·

This is the final post in a week-long recap of my 2012 interview with Renee Bailey of Franchise Direct. The title of the post in Franchise Direct was “Marketing, Media and Franchising – An Interview with Paul Segreto”. The full interview may be read HERE. But if you’ve been reading along this week, the following represents my final answer along with some parting advice for prospective franchisees.

In August of 2011, HubSpot explored why every franchisee needs their own website (story link: http://blog.hubspot.com/blog/bid/22027/). Does this relate to your philosophy that individual brands enhance the overall franchise system?

Yes. I don’t think that it can be argued that a franchise organization with franchisees with strong personal branding wouldn’t be significantly stronger than a system with franchisees that just stand behind the counter.

Now, I’m not degrading the efforts of franchisees that strive for 100% customer satisfaction and are willing to put in long hours to ensure the same. But with a strong personal brand that reaches into the local community, franchisees would be more successful driving the business. I refer to this as “GOYA marketing” – Get Off Your Ass marketing. Here’s the great part of GOYA marketing… in today’s digital world, much of the personal branding can be done online!

Are there any additional insights you would like to share with prospective franchisees?

It doesn’t matter what your level of investment, or visibility and strength of the brand, the key to your success is YOU! Yes, I am a firm believer in location, location, location, and I always stress not to fall so in love with a brand that you accept a secondary location because that is a recipe for failure. But as important is for me to stress: You, you, you.

Until next time, this is Paul Segreto, wishing you the best, the very best, in this great thing we call franchising!

The New Media Effect on Franchise Sales & the Franchise Relationship

January 31, 2013February 1, 2013 ·

This is third post of this week based upon my recent interview with Renee Bailey at Franchise Direct. In this part of the interview our focus turned to what many within franchising look for day in and day out… the silver bullet to increase franchise sales. When social media became more and more popular, many franchisors wanted to use social media to attract franchise candidates. Many thought, incorrectly that social media was a form of advertising. My response to the first question below sheds a different light on social media in the franchise sales process.

In the second question the focus was media’s affect on the franchise relationship. My answer was short, but to the point.

Finally, in the last question below we discussed a new trend in media – Social Mobile Local or SoMoLo.

How are franchisors utilizing social media to connect with prospective franchisees throughout the prospecting process?

Great question because many are not connecting with prospective franchisees. Social media is not the silver bullet many want and expect to make the sales process easier, or even to generate leads on its own.

Instead, social media for franchise development should be looked at as a vital complementing component in the traditional lead generation process. That means it should provide a support mechanism that candidates can be directed to and that candidates can find on their own in their own due diligence. Today’s candidates are also more diligent and cautious than ever before. Social media allows them to virtually stand next to a brand and experience how that brand interacts with its customers, franchisees, etc.

All that being said, social media can be utilized in the franchise development process as a way to drive candidates to a specific event like a webinar, where the concept can be explained in detail. The key here is that one-size-fits-all strategies with social media do not work effectively.

One more thing: it’s critical to ask questions at the onset of utilizing social media related to expectations and desired results. This is crucial in evaluating whether or not the program worked. As important as click-thru’s, insights, impressions, etc. are in analyzing the process and program itself, looking at desired results against actual results is really the true Social Media P&L.

Have new media options available altered the franchisor-franchisee relationship?

Of course, but they don’t need to. New media is all about truth, trust and transparency. Really, isn’t that what the franchise relationship should be built upon?

New media is a wonderful way of keeping in communications at all times. Embrace and adapt is what I typically advise. It’s important to receive proper training to fully understand new media and all its capabilities and features.

How does a personal brand enhance the overall brand of a franchise system?

The new trend in digital marketing, or better stated, in attracting today’s consumer is referred to as SoMoLo, or Social Mobile Local.

Social, we’ve touched upon above.
Mobile is just the way consumers are choosing to access and search information, and communicate.
Local, well, that’s all about the “personal side” of the business transaction.

People want to do business with people. They buy from people. Sure, the brand may get them in the door, but it’s the person representing the brand that they want to business with. So, as consumers technologically advance, it’s not uncommon for them to check out the local franchisee’s Facebook page or LinkedIn profile, perform a Google search of the franchisee, etc. What they hope to find is a person of experience and integrity. [Even] the banking industry is leaning towards utilizing a social reputation score for business loan applicants that will rival the credit score.

Tomorrow, in the last post in this series we’ll wrap up the discussion with a questions about local websites and a word of advice for prospective franchisees.

Franchise Social Media Basics – What a Great E-IDEA!

January 30, 2013January 30, 2013 ·

This is the second post based upon my recent interview with Renee Bailey at Franchise Direct. As the interview progressed, Renee and I discussed challenges franchisors face integrating new types of media and how franchisors and franchisees alike could better utilize mediums at their disposal.

What are some challenges franchises are facing concerning integrating new types of media?

The biggest challenge franchises face with new media is a lack of understanding that like anything else, requires planning. Many are not taking the time to:

develop and explore the various media available
identify their targets along with identifying where they congregate and communicate online
develop a strategy based upon the targets (which may actually require sub-strategies for each target and their online communities)
execute the plan and all that goes into it, including dedication of financial AND human resources in managing and monitoring activity, and of course
analyze and quantify results in order to continue moving forward or adjusting as necessary

Yes, that’s a lot to grasp but it is essential to developing an effective program utilizing new media. Basically, what I’ve described is e-IDEA, which is something we utilize religiously when working with franchise clients – Explore, Identify, Develop, Execute, and Analyze. It really is a great, simple guide to follow.

How do you feel franchisors and franchisees can better utilize the mediums at their disposal?

By working together, as many franchisees essentially “got there first,” meaning they were posting within social media in its early stages. It’s important to utilize their efforts as a foundation on which to build a uniform social media or new media program.

Franchisors should not take a rigid approach with respect to messaging and social involvement. New media is all about interaction and engagement, and as such, requires a “personal” touch at the local level. Of course, there needs to be guidelines and certain policies to protect the brand. But that is more common sense than anything.

Also, I believe franchises shouldn’t get all caught up in just driving LIKES. It’s more important to create a community of sharing and engagement. I much prefer seeing a Facebook with lower number of LIKES but a high number of post views. That tells me that people are coming back day after day after day to see what is on the page. Whereas just LIKING a page, they may never return. What good does that do?

Tomorrow we’ll turn our attention to how franchisors are utilizing social media to attract prospective franchisees and also, Social Mobile Local – more affectionately known as, SoMoLo!

Note: Photo credit to 1851 Magazine

Franchising Not [Completely] Respected by American Express!

November 24, 2012November 24, 2012 · 3 Comments ·

Yes, today is Small Business Saturday and I urge you to support local business everywhere. That being said, please remember that franchises are small businesses as well, and are locally owned and operated. Unfortunately, despite efforts to educate American Express about franchising, they still found it necessary to place limitations on franchising’s involvement by excluding franchises with over 100 locations.

I’m concerned about the local franchisees of BrightStar Care, Rita’s Italian Ice, Red Mango, Nothing Bundt Cakes or of the many other franchise brands whose franchisees invested their hard earned money and savings to develop a business in their local area, just like the Mom & Pop proprietors have done. A small business is a small business. Period.

Franchising is very much small business and AMEX would certainly have a different opinion if all franchises stopped taking the American Express Card! Yes, please visit and support local businesses, including franchise locations, but as a true sign of support for ALL small business owners, about your American Express Card, please do leave home without it!

And, it’s not like American Express wasn’t made aware of franchising’s role in small business.

Last year I wrote numerous articles and actually had multiple phone calls with senior executives at AMEX. All appeared to be on track for including franchising in Small Business Saturdays. I even followed up with phone calls mid-summer to make certain last year’s debacle wasn’t repeated. I was assured all was in order, that they did their research and yes, franchising would be well-represented in this year’s Small Business Saturday event. Well, shame on me for following up, but not following through. You can be assured that will not happen again.

Here are links to last year’s articles which I will build upon for 2013…

Franchising Excluded from AMEX Small Business Saturday Events

Franchises Are Not Small Business?

Franchises Excluded From Small Business Saturday – AMEX Responds!

Was Franchising Slapped in the Face by American Express by Accident?

AMEX Reassessing Policies for Small Business Saturday

Franchisee Disaster Recovery Kit

November 2, 2012 · 1 Comment ·

Yesterday, I heard from Franchise Relationship Expert, Greg Nathan, as he reached out to me to help him share information to assist franchisors and franchisees affected by Hurricane Sandy. Greg wrote, “In 2011 Australia and New Zealand were hit by unprecedented floods, earthquakes and fires. To assist franchisors provide relevant and useful business and personal support for their franchisees we developed a Franchisee Disaster Recovery Kit. Franchisors told us they found the kit enormously helpful. Given recent events on the USA East Coast we would like to make the Kit available to franchisors in the USA.”

Here’s the information Greg would like to share…

Stepping Up In Times Of Need

One of a franchisors most important responsibilities is to deliver useful and relevant support to their franchisees. Great franchisors understand that in difficult times they need to be out there, standing by their franchisees and their families.

Similarly in times of trouble, franchise systems with healthy cultures will quickly mobilize themselves into action with franchisees providing practical and moral support to their colleagues.

With any crisis, it is only natural that franchisors and franchisees will want to reach out to people who have suffered loss or trauma. With this in mind we have put together this Franchisee Disaster Recovery Kit, in downloadable PDF format, to assist franchisors and others wanting to help franchisees and families who have been affected.

Read more here or go right to the Disaster Recovery Kit below…

Click Here to download Disaster Recovery Kit PDF

Well, Greg, it’s not only my pleasure to help you share this great information, but it’s my honor to know someone as caring as you. It’s no wonder that you and your organization, Franchise Relationship Institute are true leaders in understanding and strengthening franchise relationships. It all does come down to caring. Thank you for doing so!

Consumer Trends Focus on Customer Experience & Information Sharing

October 11, 2012 · 1 Comment ·

Working this morning through my daily routine of reviewing some 300+ blogs, articles and newsletters continue to see a trend that refers to what today’s customer wants, needs and commands. The trend touches on customers in all age groups, what brands need to do, and, of course, technology and its ever increasing role in business. But the common ground that everything centers around is customer experience and information access.

I believe the days of worrying about being too intrusive with consumers is behind us. The thing we must learn, and fast is that today’s consumer wants information and wants it now, in real-time. They are more sophisticated and technologically advanced than ever before. Small business owners must follow suit and adapt accordingly. In the franchise space, franchisors must lead the charge and do so, in part by leading by example – embrace and adapt to change!

Below are three interesting articles that lend towards the common ground defined above and indicate major changes already taking place across many industry segments. Would love to hear your thoughts on the same.

Social Customer Expectations as published on Social Media Club

In a study from this year, Gartner predicts not responding to customers via social channels will be as harmful in 2014 as not answering the phone is today. The reason? Customers simply expect it.

Customers have long complained about the lack of attention via certain channels when dealing with companies. Ever stand in line at a store while they answer the phone and have a lengthy conversation? That’s the feeling customers get when they try to reach a brand via social media and are ignored.

Similar Keys to Success in Baseball, Government & Franchising

October 6, 2012October 11, 2012 ·

It’s 4AM and I’m wrapping up some unfinished business for the week. Such is one of the perils of being at a conference (this week was Franchise Update Leadership & Development Conference) the better part of the week. But I wouldn’t trade it for the world. Especially as I think about the extraordinary experience and character I am privileged to be around at franchise events.

And, I am ever so thankful to those franchise professionals that are always, without fail, willing to share their experience, insight and perspective. To those, and they know who they are… my very sincere thanks and appreciation! You are truly leaders in many ways, and ones that exemplify what makes franchising great!

As I was preparing to post the above statement on Facebook and LinkedIn, I came across an article that I believe further wraps up the week for me. In the article, Federal Reserve chief and avid baseball fan Ben Bernanke saluted the playoff-bound Washington Nationals on Friday as an example for gridlocked U.S. government leaders of how to succeed by making wise, patient decisions.

“People decry the absence of leadership in Washington these days. My response: Look no further than the home-team dugout at Nationals Park,” the Fed chairman wrote in an opinion piece in The Wall Street Journal’s online edition.

The Nationals just completed the best regular season in their eight-year history, winning the National League Eastern Division with the best record in Major League Baseball. The team begins the playoffs on Sunday in hopes of securing the first World Series berth for a Washington team since 1933.

He said the formula for the team’s success rested heavily on the wisdom and experience of its manager, Davey Johnson.

“He combines the best of two seemingly at-odds managerial traditions,” Bernanke wrote, noting how Johnson used the latest statistical advances as well as old-fashioned scouting.

“Davey is also really good at identifying and nurturing talent. Most strikingly, he has shown himself willing to sacrifice short-term tactical advantage for the long-term benefit of bolstering the confidence of a player in whom he sees great potential,” Bernanke said, citing how Johnson gave under-performing players a chance to improve.

“Many of us in Washington could learn a thing or two from the Nationals’ approach,” Bernanke said.

Well, I believe many of us in franchising could learn a thing or two from this as well…

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Tag: Paul Segreto

Franchising Not [Completely] Respected by American Express!

Franchisee Disaster Recovery Kit

Stepping Up In Times Of Need

Similar Keys to Success in Baseball, Government & Franchising