Posts Tagged ‘campaign’

How a Franchisee Can Help Turn Around Its Reputation and Financial Situation After Bankruptcy

Monday, June 27th, 2011

In this day and age with the economy in the state it is in many companies and individuals have had to file for bankruptcy. Below is suggestions if an individual franchisee owner has to file personal bankruptcy under chapter 7 or chapter 13 on how to get back on their feet.

Guest post by Sophie Kinsella

The Impact of a Franchisor’s Bankruptcy on A Franchisee

The immediate Impact- When a franchisor files for chapter7 or chapter 13 bankruptcy, the franchisee greatly suffers from it. From training and advertising to marketing and supply chain- every single system gets dismantled. The franchisee loses its operational assistance from the franchisor. If the franchisor had any financial obligation towards the franchisee, with bankruptcy filing this even gets dissolved. And the ultimate damage comes in the form of damaging goodwill of the franchisor and obviously of the franchisee as well. It tarnishes the image of the company and lowers the public acceptability about their service and product.

How can a franchisee get back on its feet again-?

When such news spreads among public, a franchisee should take immediate action to wipe off the rumor from the mind of its consumers. There is a common perception among people. when franchisor files bankruptcy, people get under the impression that all its franchisees have also been collapsed at the same time. However, to eradicate such impression the franchisee should contact all the media channels television, radio, news paper and need to announce that the franchisee is in a sound condition. They have to tell repetitively that the franchisee is an individual and independent business party. They are totally untouched by any of the effect of bankruptcy. This is very crucial step for a franchisee to retain its business in the midst of this turmoil. Sometimes, the rival groups of the franchisor comes on the stage and keeps on bombarding the people with such negative campaign against the bankrupt company, that it hardly becomes possible for a smaller franchisee to fight for its brand name. If you need a detailed information on Bankruptcy, then please visit this website: http://www.ovlg.com/

Franchisee should consider it as a boon, not as a bane-

In this circumstance, a franchisee must make some quick decision to mobilize its business and save itself from any potential lose. The franchisee falls into desperate predicament, when it loses the goods and services previously supplied by the franchisor. But now the franchisee cannot stop selling the products any more. It should immediately try to get access to the original supplier of the franchisor. It has to buy directly from that source and continue its business. As the franchisor had huge purchasing capacity, it could offer low price to the franchisee. From this time the franchisee might have to purchase those goods at higher price. But the franchisee will also get a great benefit from this if it can utilize this situation as an opportunity to become an exclusive provider of those goods and services. It is actually a golden opportunity a smaller company to grow bigger and tab the extensive market of the franchisor.

9 Low Cost/No Cost Marketing Tips & Techniques

Monday, October 18th, 2010

Do you need to get more clients? Are you trying to get your first client? Is your marketing budget equivalent to the cost of a Happy Meal? The following tips and techniques are not by any means hidden secrets, but they are some of the most overlooked ways to market a small business today.

1. Know your target audience.

As silly as it sounds, many small business owners kick off a marketing campaign without regard to whom they want to target. If you send out a coupon for NASCAR tickets to the first 1,000 people in the phone book, some will undoubtedly be thrilled and will do what’s necessary to earn the tickets (akin to dropping 1,000 mailers from an airplane — some
will hit the target). But just imagine the response rate if you sent out the same 1,000 NASCAR ticket coupons to only those people who attended a NASCAR event in the last year. You’ve gone from wildly shooting to steadily aiming your campaign, thus increasing your
response rate and decreasing your cost per customer.

2. Publish an e-zine (or newsletter).

Publishing an e-zine or print newsletter (even as short as a page) is a great way to keep in touch with your customers and clients. You can produce one online using a program such as Constant Contact for little to no money and can even set your e-zines up in advance using
easy-to-understand templates.

3. Have a website and keep it updated.

All businesses, no matter your size or field, need a website these days. You can get a domain name for as little as $2.95/year and, using templates, have a basic design done in a few hours. Once your customers, clients, and potential customers and clients have visited your website, they will find fresh, quality content in the form of new e-zines, articles, blog posts and tips. This will keep them, and the search engine spiders, coming back for more.

4. Opportunity is calling.

While not usually viewed as a marketing technique, answering the phone and follow-up is critical in this day and age of limited valuable time and impersonal service. Have you ever called someone only to not get a call-back or sent an email and waited days for a response?
More clients and prospects become lost revenue these days due to inadequate, or non-existent follow-up. If you receive a phone call from a prospective client or from an existing client, call him back as soon as possible or, better yet, immediately!

5. Get involved online.

Find out where your target audience hangs out and participate in those online discussion groups and forums. Yahoo Groups is a great place to find a wide variety of discussion groups. Several business owners also belong to Ryze — an online networking forum. By consistently offering your help to others, you will position yourself as an expert that others will turn to when the time is right for them.

6. Get involved offline.

Getting involved with local organizations can help to build your reputation as a “doer”, a “go getter” or just a really dependable individual (all things which will help your business). Just remember that you are representing your business in everything you do and act accordingly.

7. Word of Mouth/Referrals.

We’ve all heard the saying that a happy customer tells somewhere between 1 and 3 people about her experience while an unhappy customer tells up to 12 people about hers. Keep your customers happy, ask for feedback as to what you could do better, and once you know they’re happy, then ask for a referral. People generally are willing to help those they like.

8. Use postcards.

Whether you are an online-only business, a brick & mortar establishment or a hybrid, you can effectively use postcards to market your business. Postcards are easy to do, inexpensive to mail and have a high readership. Many people associate postcards with personal notes from friends and family and don’t even think before they turn it over to read the message. With this method, you have already gotten into the hands of many people that wouldn’t take the time to open junk mail.

9. Have others do it for you or with you.

Never underestimate the power of cooperation and reciprocal agreements. Is there a vendor that has a related, but not directly competitive, target audience to yours? If so, form a strategic alliance where you recommend his products/services and he recommends yours. For example, a movie theater and a restaurant could share customer information and play off each other for promotions.

While many of the above tips and techniques will arouse the “DUH” response, it’s constantly surprising to me how many businesses – small and large – overlook these basic items in their day-to-day marketing and operations.

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This article was supplied by A Strategic Marketing & Profitability Mentor, Sandra Martini (www.SandraMartini.com), creator of Escalator Marketing™, shows creative  entrepreneurs how to build sustainable businesses without losing their integrity or their minds.