Developing an effective brand should be at top of the list of franchise owners. Strong brand equals more franchisees and loyal customers. Branding can be accomplished through a company’s name, logo, web presence, slogan and much more.
The brand should persuade consumers that a particular business is the only company that can provide a solution to certain product service demands, not only a way for businesses to make themselves solely stand out from other companies. It should deliver a message in a clear manner and promote a business’ creditability in order to motivate consumers to make a purchase and encourages their loyalty.For a company’s brand to be effective, it must first identify consumers’ wants and needs.A good brand can be found at the heart and mind of consumers. From their experience it becomes much easier to create an effective brand.The key elements in branding are the brand promise, brand personality and brand symbol.Franchisor should think of their brand as a tool to help drive performance and a core ideology governing everything the organization does.Every franchise company understand the importance of the brand , but still many entities have a few misconceptions about it.Some business experts say delivering a high-quality product or service is more important then effective branding, but businesses who have a good brand trigger positive emotional experiences in consumers.There is misconception that a company’s logo is a brand.Company’s logo is an important part of its brand but it is not the whole of it.There is the online web presence, the way it reacts to negative reviews and most importantly, how its staff members conduct themselves.Others believe that branding is expensive. Sure, developing a brand can put a strain on business budget but is well worth the investment and without a brand a business will likely go under.