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Business

How PR can help franchise businesses emerge stronger from 2020

Untitled design 26 - Global Banking | Finance

By Mimi Brown, Head of Entrepreneurs & Business at The PHA Group

A second wave of coronavirus is gathering pace and an increasing number of businesses are facing local lockdowns, restricting economic activity this Winter and presenting fresh operational challenges for business.

Franchise businesses such as O2, Subway, Toni & Guy and McDonald’s are struggling to defend and protect their franchisees in such turbulent times. Many of them operate in the retail and hospitality sectors which are among the worst hit by the pandemic, and these brands may be looking at cost-cutting measures to mitigate the worst effects of the pandemic.

Despite the temptation to cut marketing budgets, the reputational risk of turning the taps off completely could be greater than the immediate savings made. Disappearing from the public eye can be fatal to a business, losing hard-fought brand awareness and share of voice among consumers and the industry. And recovering it could be more expensive in the long-term if competitors take the opportunity to invest and increase their share of voice.

In the face of uncertainty, showing leadership in the media is one way that franchise brands can help their franchisees, from a centralised level. It can generate goodwill, create unity and strength, restore consumer confidence and ultimately help brands emerge from lockdown as a sector leader.

Maintaining and growing brand awareness

At a time of great change, with the high street sadly losing popular stores, consumers are eager to be reassured and surrounded by familiar brands. In this economic context, maintaining and growing brand awareness has never been more important to protect revenue and increase market share in 2021. Creative PR strategies and consistent brand messaging can play a crucial role in this, including promoting your core company values, key products and their USPs, and the inspiring stories of the people behind the business.

Keeping brand perceptions fresh

Mimi Brown

Mimi Brown

Keeping active in the press and visible on social media is not only useful for growing awareness but also a tool to keep your brand relevant. It’s difficult to predict what the new economy will look like post-pandemic, but if you can adapt your business’ offering to consumers changing, more sustainable mindset, and communicate that effectively, then you can heighten your appeal to potential franchisees, investors and consumers. Brands can do this by commenting on topical industry issues in targeted news outlets and promoting new initiatives and opinions that address key consumer concerns.

Having a local presence

One of the core strengths of franchises over other business models is the connection each branch has to its local community. Set up by franchisees who know the area well and care about it is an endearing quality consumers can relate to, and will become ever more important as travel restrictions are imposed during the second lockdown. PR can be an effective tool to capitalise on this dynamic and bring the strong relationship between franchisees and customers to life. Franchisees can take an active role in supporting the community, for example by appearing in local press to discuss important regional issues, sponsoring a local event, contributing to local charitable causes or hosting regular networking events. Not only can this improve consumer sentiment toward the local branch and make it feel more accessible for consumers, but it can also have a positive knock-on effect for the wider brand.

Personal profiling

Behind any successful franchise are great people. Telling their stories and bringing them to life through external communication is an important additional tactic to give brands a relatable and approachable feel – ultimately franchises are local, small businesses. Sharing the personal and professional background of the business owners for example, including their growth story adds a depth aside from promoting products and services. At a brand level, CEOs can also give opinions on important news stories and issues will help express the company’s core values in a relatable way. This is a great way to differentiate your brand from competitors.

Having a confident and media trained CEO who is able to share these stories positively is also powerful when responding to crises such as redundancies or closures and can add an important human touch through which to address difficult economic circumstances.

Of course, there have been few crises of the scale and impact of the current global pandemic and times are hard for all businesses including franchises. But, as the business mantra goes, ‘never let a good crisis go to waste’ and that is true now more than ever. Rather than shy away from the limelight, brands must use the opportunity to take control of the news agenda and social media conversation and promote their brand to ensure they come out ahead of the pack when we emerge from lockdown.

Global Banking & Finance Review

 

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