In the world of business franchises are a microcosm. Their centralized/localized business model exposes them to all of the challenging market forces you can imagine. To work their way out of this difficulty they have to use the entire panoply of opportunities afforded to them by traditional business practices, the social web and new media tools.
While this may sound like an easy 'fix' it's far from easy to apply. It requires a reworking of core business concepts, a broadening of thinking horizons and an ingenuity in the way marketing is approached. It requires courage, tenacity and the willingness to experiment when experimenting is far from easy.
In each #SMTPowerTalk we tackle issues and questions that have a direct impact on the working models we all apply. In what is just the second Hangout of air of the series we talked to Nick Strong, CEO of selectyourfranchise.com. A man of deep experience and insights, Nick was able to unpack the challenges faced by the franchise industry today. He explained how a franchise business model can be the best of all possible worlds provided sufficient vetting is done in the first instance, by both parties involved, and an atmosphere of trust develops as a result.
Trust seems to be the key to establishing the basis for everything else that seems to take place. What is rapidly becoming abundantly clear is that trust does not have an 'equation' that can be applied on autopilot. It requires hard work, reinforcement and real commitment. Catch the video replay of the interview below:
Reach and Engagement in Social Media
When it comes to using Hangouts On Air (HOA) to reach a wider audience, Social Media Today has pioneered techniques with our #SMTPowerTalk series. Our Engagement Broadcasting has established a reach basis that even manages to blow the Walking Dead HOA out of the water!
In this series we partnered up with leading semantic analytics company NOD3x.com to track the engagement and reach figures for the #SMTPowerTalk event with Nick Strong (above). The results were eye-opening. Engagement Broadcasting, a style pioneered by SEOWise takes the traditional broadcast production values and marries them with the engagement and interaction of the Hangout On Air event.
When used with a properly framed pre- and post-HOA publicity the result is an extended "conversation" that informs brand values, appeals to audience needs and establishes a real, two-way channel for communication.
Check out our in-depth analysis of the Hangout On Air, in the video below:
Reach and Engagement with Engagement Broadcasting Analysis
The #SMTPowerTalk series of Hangouts are announced first on the Social Media Today Google+ Page. Click here to join if you haven't already, and be kept up to date on events critical to your marketing.