From what you read in the media, does it feel like 88 percent of ad dollars are still being spent on old media? While the growth rates and trends are shifting toward the Internet without a doubt, the reality is that franchise prospects use multiple media channels and that marketers must be focused on reaching prospects today so that they can become candidates tomorrow and franchisees within months — not next year.
For a brand that expects to be relevant today, tomorrow, and years into the future, a sense of balance is required. A careful assessment of your current customers, your best prospects, and your competitive difference will position your brand for success. Chasing the latest trend or making a big bet on the media darling of the minute is not likely to be a success strategy in the long term.
At the consumer level, brands that focus on a specific part of the sales funnel will quickly find that they have picked all the low-hanging fruit and that their marketing is having diminishing yields. Investing 100 percent of the budget in brand building, social media, discounting, search, or some other tactical part of the media mix results in excluding or neglecting important customer segments. Continue reading this article.