How to Choose Your Franchise Name and Begin Building Your Web Site Strategy.
How to Choose Your Franchise Name and Begin Building Your Web Site Strategy.
Are you thinking about franchising your business? There are a number of important areas you will need to consider. I will be looking at the internet and your strategy for designing your web presence. This is a key component of any franchised business today.
In planning a strategy for your web site design, it must compliment your overall franchising strategy.
Choosing a Franchise Name to Carry Your Business Forward
Many people overlook the true significance of a well chosen name. Once you have made the decision that your business will be franchised, this is one of your first action steps. Why? Simply because the name you choose is crucial to much of what follows in planning your online presence.
It’s really important to fully evaluate your company name or business trading name. You should also bear in mind the eventual relationship this will have to your domain name and the importance of making it ‘memorable’. Why? A domain name and business that is ‘memorable’ will increase your profits. Plain and simple.
You probably already have a business name that you are trading under. Now is the ideal time to give this some real thought. Is this really the best name for your franchise venture?
A Poor Name Can Cost You Dearly!
On the internet your business name is your brand. Having a poor name can cost you dearly. It can literally divert money away from your business! Don’t take my word for it. The people who really count are your business prospects. This means both potential franchisees and the end users of your product or service.
It’s also a fact that until you test, you just will not know if the name you have chosen will stimulate prospects to click through to your site or whether it will deter them. The name of your web site can have a significant impact on the numbers who click through to find out more about you.
Think about it like this. Even a 1% difference in click through rates can have a very significant impact upon the success of your business. Out of 1000 potential prospects just 1% better performance will give you 10 extra prospects.
Add that up over the lifetime of your franchise venture and you could end up with considerably more prospects, based simply upon the fact that you chosen a better performing name. Each prospect has an acquisition cost, so getting this strategy right can have a very positive impact on the success of your venture.
What if the real difference in performance of a better name is 2%, 3% or more? It soon begins to add up.
As I mentioned above, choosing the right name is only the starting point. Once you know which name has a positive impact upon your potential prospects, you can use that information to build important insights into other words and phrases that trigger positive responses from your prospects. It begins to form a positive foundation for your internet marketing efforts.
Make Your Domain Name Memorable.
Making your domain name ‘memorable’ is a way to really improve your business performance over time. The ultimate objective must be to have a name that is both memorable and that best connects with your buyers expectations.
You will frequently find that going with a name that you may find ‘intuitive’ or which you just plain ‘guess’ is not the best option. Remember, if your prospects don’t find the name you have as appealing as another more productive alternative, it’s really just letting money slip through your fingers. You should be using the more productive alternative instead.
Many businesses owners rush when it comes to choosing their domain name, corporate name, business trading name and Web address. Our own experience has shown this happens repeatedly. This is why we advise spending the time to get it right. Franchisor’s also often simply don't give this important area enough consideration.
This is a common trend across business generally, particularly small to medium sized businesses. A survey commissioned in Nov 2007 by ‘Fasthosts’ (www.fasthosts.co.uk) also found that many businesses did not give adequate time and thought to the issue.
Most businesses owners, when asked to give the matter some consideration, do recognise that a domain name can have a long lasting effect on their business. In addition many businesses believe that revenue and profits would improve as a direct result of having a better web address and domain name.
With 25% of ordinary businesses admitting they have concerns about the effectiveness of their web address, it's important that you as a Franchisor give this the time it deserves at the planning stage.
It is also shows that as the Franchisor, you have done your homework. Pointing out to your potential Franchises that you have researched this area and done your homework demonstrates your attention to detail. It also shows your ability to consider long term business strategy and profitability planning. It helps to create confidence. If a franchisee was setting up a business on their own, this is a strategy they would easily overlook.
It’s also important to realise that a good name is part of the overall internet ‘optimisation’ process and it will have a lasting impact upon image, branding and ultimately sales.
Ultimately on the Internet your domain name is your brand. So choosing a good Franchise name and domain name is a crucial first step on the pathway to a successful Franchise venture.
How to Choose Your Franchise Name and Begin Building Your Web Site Strategy - To learn more about this author, visit Stephen Wilk's Website.
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How to Choose Your Franchise Name and Begin Building Your Web Site Strategy.
Are you thinking about franchising your business? There are a number of important areas you will need to consider. I will be looking at the internet and your strategy for designing your web presence. This is a key component of any franchised business today.
In planning a strategy for your web site design, it must compliment your overall franchising strategy.
Choosing a Franchise Name to Carry Your Business Forward
Many people overlook the true significance of a well chosen name. Once you have made the decision that your business will be franchised, this is one of your first action steps. Why? Simply because the name you choose is crucial to much of what follows in planning your online presence.
It’s really important to fully evaluate your company name or business trading name. You should also bear in mind the eventual relationship this will have to your domain name and the importance of making it ‘memorable’. Why? A domain name and business that is ‘memorable’ will increase your profits. Plain and simple.
You probably already have a business name that you are trading under. Now is the ideal time to give this some real thought. Is this really the best name for your franchise venture?
A Poor Name Can Cost You Dearly!
On the internet your business name is your brand. Having a poor name can cost you dearly. It can literally divert money away from your business! Don’t take my word for it. The people who really count are your business prospects. This means both potential franchisees and the end users of your product or service.
It’s also a fact that until you test, you just will not know if the name you have chosen will stimulate prospects to click through to your site or whether it will deter them. The name of your web site can have a significant impact on the numbers who click through to find out more about you.
Think about it like this. Even a 1% difference in click through rates can have a very significant impact upon the success of your business. Out of 1000 potential prospects just 1% better performance will give you 10 extra prospects.
Add that up over the lifetime of your franchise venture and you could end up with considerably more prospects, based simply upon the fact that you chosen a better performing name. Each prospect has an acquisition cost, so getting this strategy right can have a very positive impact on the success of your venture.
What if the real difference in performance of a better name is 2%, 3% or more? It soon begins to add up.
As I mentioned above, choosing the right name is only the starting point. Once you know which name has a positive impact upon your potential prospects, you can use that information to build important insights into other words and phrases that trigger positive responses from your prospects. It begins to form a positive foundation for your internet marketing efforts.
Make Your Domain Name Memorable.
Making your domain name ‘memorable’ is a way to really improve your business performance over time. The ultimate objective must be to have a name that is both memorable and that best connects with your buyers expectations.
You will frequently find that going with a name that you may find ‘intuitive’ or which you just plain ‘guess’ is not the best option. Remember, if your prospects don’t find the name you have as appealing as another more productive alternative, it’s really just letting money slip through your fingers. You should be using the more productive alternative instead.
Many businesses owners rush when it comes to choosing their domain name, corporate name, business trading name and Web address. Our own experience has shown this happens repeatedly. This is why we advise spending the time to get it right. Franchisor’s also often simply don't give this important area enough consideration.
This is a common trend across business generally, particularly small to medium sized businesses. A survey commissioned in Nov 2007 by ‘Fasthosts’ (www.fasthosts.co.uk) also found that many businesses did not give adequate time and thought to the issue.
Most businesses owners, when asked to give the matter some consideration, do recognise that a domain name can have a long lasting effect on their business. In addition many businesses believe that revenue and profits would improve as a direct result of having a better web address and domain name.
With 25% of ordinary businesses admitting they have concerns about the effectiveness of their web address, it's important that you as a Franchisor give this the time it deserves at the planning stage.
It is also shows that as the Franchisor, you have done your homework. Pointing out to your potential Franchises that you have researched this area and done your homework demonstrates your attention to detail. It also shows your ability to consider long term business strategy and profitability planning. It helps to create confidence. If a franchisee was setting up a business on their own, this is a strategy they would easily overlook.
It’s also important to realise that a good name is part of the overall internet ‘optimisation’ process and it will have a lasting impact upon image, branding and ultimately sales.
Ultimately on the Internet your domain name is your brand. So choosing a good Franchise name and domain name is a crucial first step on the pathway to a successful Franchise venture.
How to Choose Your Franchise Name and Begin Building Your Web Site Strategy - To learn more about this author, visit Stephen Wilk's Website.
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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I've created this section on my site to share some of the incredible tools that I've used to build my business. I hope you too can benefit from them and look forward to hearing your feedback on the reviews! - Visit Evan Carmichael's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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