With the increasing number of businesses using franchising as a strategy for profit and growth, companies must ensure that the systems and structures the business follows are replicable, up to date and reflective of the best practices of world class Brands. Management 2000 understands the systems and structures that world class Brands use to win in an increasingly competitive marketplace. We stand ready to assist you in implementing these systems and structures to increase your profits and growth and those of your franchisees.
Action Point #1: Philosophy
- Philosophy is the cornerstone and foundation of every Brand. Today’s successful Brands believe the first cornerstone is to create a culture where team members love to come to work and who believe their company is a great place to work.
- The second cornerstone of a successful Brand is a culture where the result of the business is creating and keeping very satisfied, loyal, frequent user, promoter customers.
Action Point #2: Processes
The processes are the ways the products and services are made and delivered to the customers and the environment within which they are delivered. These processes make up the experiences the customers have of the Brand. The customers’ experiences include:
- The research they do before doing business with your Brand
- The expectations set by marketing
- The pre-purchase interaction
- The purchase interaction
- The consumption of the product/service,
- The post experience review
Processes and systems are among the main factors in a successful franchise system. If a business does not maintain processes and systems from within, it can expect to experience the negative effects of the absence of processes, which can be very costly to fix. Successful Franchise Brands understand that having strong processes and systems in place, attracts new, qualified franchisees into the organization resulting in very satisfied, loyal, frequent user customers. As well as having robust processes and systems in place, a successful franchise organization will ensure that all of the franchisees and their employees implement these processes to the fullest.
Action Point #3: People
- The people who execute the processes will have a significant influence on how the customers feel when their experience of your Brand is concluded.
- Your Product/Service Experience is your sustainable differentiation from your competitors and will determine the success of your Brand and of your future profits and growth. Attention must be paid to how team members are selected, oriented, trained, developed, led, managed, and compensated.
All businesses are, or should be, people organizations. With the move from a manufacturing mentality to an experience mentality, there are many aspects that are often over looked when strategizing for the future. It is important to understand that people in the 21st century are always looking for a better opportunity to meet their personal goals. This is especially true of the “knowledge worker”, the type of professional who is looking for commitment from the organization, adequate responsibility, and a job that satisfies his or her personal and business goals.
Action Point #4: Technology
Find a new technology that is an innovation for one of your organizations processes. Beta test it within your company; you may be surprised how quickly the use of technology can help you gain efficiencies in systems and processes.
- Embrace the knowledge of technology of the younger generations and implement software and procedures to boost your organizations reputation, profit, and growth.
- Do not be afraid of change. “The only constant in life, is change.”
Today’s World Class Brands use technology to their advantage. The quicker an organization can understand that these new avenues of technology are not just fads, but the next step to maintaining a World Class Brand the sooner it can use that knowledge to its competitive advantage. As a business and community we can use these new innovations to better understand our clients, just as Google now tracks their customers‘ activities and uses the information to direct the customer in a more focused way, in future searches. A successful Brand will continually review technology innovations and brainstorm which of them could be implemented to gain a competitive advantage over competitors. Brands use technology for SEO, Reputation Management, marketing, communicating with customers through social media and for getting real-time feedback and measurements of how the customers feel after experiencing the Brand. Technology can be used in predicting future growth and profits, correlating customer feedback with frequency and loyalty. It has been proved that VERYsatisfied customers are six times more likely to do business with a Brand than merely satisfied customers.
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