Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate...

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Transcript of Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate...

Page 1: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their
Page 2: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Know Your Franchise

Recruitment AudienceBrooke Hess Director of Paid Media

Page 3: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

WHAT WE KNOW

Page 4: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Current Franchisees

Male54%

Female31%

Equal Male/Female

15%

GENDER

Minority Owned

32%

Equal Minority/Non-

Minority1%

Non-Minority

67%

MINORITY STATUS

Source: PwC, Franchised Business Ownership by Minority and Gender Groups: An Update for the IFA Foundation

Page 5: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Source: PwC, Franchised Business Ownership by Minority and Gender Groups: An Update for the IFA Foundation

Current Franchisees

57.2

48.952.3

2520.5

30.6

17.1

24.4

14.8

2002 2007 2012

Male Owned

Female Owned

Equal Male/Female Owned

+10.1%

Page 6: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Current Franchisees51

50

50

43

39

36

CHILD SERVICES TRAVEL HOSPITALITY RETAIL FITNESS SPORTS & RECREATION

VERTICALS WITH HIGHEST PERCENTAGE OF WOMEN OWNERS

Source: Franchise Business Review

Page 7: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Source: PwC, Franchised Business Ownership by Minority and Gender Groups: An Update for the IFA Foundation

Current Franchisees

8.9

10.4

11.8

4.44.9

8

0.80.5

0.80.2 0.3 0.20.5

4.4

2002 2007 2012

+3.1%Asian-Owned

Black-Owned

American Indian-Owned

Pacific Islander-Owned

Other Minority-Owned

Page 8: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

THE FUTURE FRANCHISEES

Page 9: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Millennials

Source: The Franchise Voice, Millennials in Franchising, 2018

Desire personal connection to brands

Value authenticity

Crave & seek mentorship

Individualistic yet well-connected through social media

Page 10: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

MillennialsRecruit & Motivate

Provide connection to your brand’s values &

vision

Emphasize importance of their role & how they are

making a difference

Set goals & provide ongoing feedback

Facilitate collaboration, creativity, and a culture of

validation

Source: The Franchise Voice, Millennials in Franchising, 2018

Page 11: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

MillennialsPotential Franchisees

Source: The Franchise Voice, Millennials in Franchising, 2018

Most entrepreneurial generation

Need to be mentored, validated, and supported fits with the franchisor-franchisee relationship

Resourceful, tapping into government programs, family & friends for funding – may disrupt current approach to household income

targeting

Business ownership inexperience requires regular support and feedback

Page 12: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Prospective Franchisees Motivations

What is the primary

reason you are

considering franchising?

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

Couldn't Get Financing for OwnIndependent Business

Expand Current BusinessVentures

To Make Supplemental Income

Be Own Boss Without OwnBusiness Idea

Source: Franchise Direct, Prospective Franchisee Survey Results 2016

Page 13: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

VIDEOS

SUCCESS STORIES

TESTIMONIALS FROM CURRENTFRANCHISEES OF THAT FRANCHISE

FRANCHISE BUSINESS'BACKGROUND INFORMATION

INVESTMENT OVERVIEW

Prospective FranchiseesResearch

Source: Franchise Direct, Prospective Franchisee Survey Results 2016

What’s important

when doing

research?

1 2 3 4 5

LEAST IMPORTANT MOST IMPORTANT

Average Response

42%

38%

16%

21%

6%

Page 14: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Prospective FranchiseesResearch

Source: Franchise Direct, Prospective Franchisee Survey Results 2016

More clearly defined information on

locations available for franchises

What demographics the franchise is best

suited for

Information about franchise accreditation and Better Business

Bureau status

More about the actual day-to-day

experiences of those running franchise units

Want to See More:

Page 15: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

ACTION PLAN

Page 16: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Differentiate Your Franchise

Tell your story: what makes

your franchise unique?

Highlight what prospective

franchisees are interested in

Make it clear and easy to get

more information

Page 17: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Reach Potential Franchisees

Segment audiences

Create messaging that resonates with each segment

Message AMessage B

Message C

Page 18: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Reach Potential Franchisees

• Digital offers cost efficiency and unique advanced targeting opportunities

Understand each

segment’s media usage

• Prioritize geotargeting to areas without locations

• Identify demographic and behavioral traits that align with your franchise

Select targeting tactics

Page 19: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Go Beyond Audience Targeting

Page 20: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Action Plan

Analyze the data you have

Test and learn from targeting

Page 21: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Action Plan

Use your own franchise owner data

• Do you notice trends or similarities among franchisees?

• Are you seeing female & minority growth?

• Ask them how they found out about your franchise and what appealed to them

Identify traits of successful franchisees

• Go beyond demographics to understand who you should target moving forward

• Are they passionate about specific topics?

• Do they attend similar events?

Page 22: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

Action Plan

Leverage franchise site data

• Who is visiting your franchise development site?

• Where are they spending the most time?

• Where are they exiting the site?

• What differentiates users who become a franchise lead versus others who visit without acting?

Test targeting tactics beyond the norm

• What happens if you remove household income targeting?

• Are there other interests you can target beyond entrepreneurial interests?

Page 23: Know Your Franchise Recruitment Audience · through social media. Millennials Recruit & Motivate Provide connection to your brand’s values & vision Emphasize importance of their

THANK YOU!