• The Advisory Board | Expert Franchising Advice for Franchise Leaders

  • By: Dave Hansen
  • Podcast
  • 5.0 out of 5 stars (1 rating)

The Advisory Board | Expert Franchising Advice for Franchise Leaders By cover art

The Advisory Board | Expert Franchising Advice for Franchise Leaders

By: Dave Hansen
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  • Summary

  • Every franchise needs expert advice.

    So, we're bringing the business strategy, marketing, sales, and franchise growth experts to you.

    Join franchising gurus to learn best practices in franchise sales, franchise marketing, franchise operations, and even motivation and franchisee relationship management.

    We'll deliver actionable, valuable insights each podcast from true experts in franchising that are really doing what they talk about, rather than just talking about it. It's a subtle but important difference that you'll feel when you tune in.

    This is a no chest-beating podcast as well. There are plenty of those available. We focus on what we know will help emerging, growing and even well-established franchise systems take the next step toward franchising nirvana.

    We'll publish a new episode every 10 days, and episodes should last between 25 and 40 minutes.

    Enjoy!
    Copyright Dave Hansen
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Episodes
  • AI in FranDev Marketing: What You Should Never Do

    AI in FranDev Marketing: What You Should Never Do
    Jul 23 2024
    Welcome to another episode of The Advisory Board Podcast! In this episode, we explore the dynamic world of AI in franchise marketing with two industry experts, David Stein and Kylon Gustin, co-founders of SalesChats and AI Ads. With decades of combined experience in franchising, marketing, and technology, David and Kylon bring a wealth of knowledge to the table, promising a deep dive into how AI is revolutionizing marketing strategies for franchises.But before we jump in, a heartfelt thank you to our sponsor, ClientTether, for making this episode possible.Host Dave Hansen kicks off the episode by introducing his guests, highlighting their impressive backgrounds. David Stein, a veteran in franchise marketing, has been helping brands succeed for nearly 20 years. Kylon Gustin, with his extensive tech background, has been instrumental in pioneering digital transformations since the 1980s. Together, they form a formidable team dedicated to pushing the boundaries of AI in marketing.The discussion begins with a look at the current landscape of AI in marketing. David explains that while AI is often surrounded by hype, the real challenge lies in effectively integrating it into marketing and advertising to achieve tangible results. Kylon adds that successful AI implementation is all about teaching the machine with relevant data. Without this foundational step, AI's potential remains untapped.David and Kylon share their journey of developing an AI platform specifically tailored for franchise advertising. They emphasize the importance of training AI to understand the unique aspects of franchising, a sector with its own set of challenges and requirements. By leveraging their extensive experience, they have created a platform that not only analyzes data but also learns in real-time to optimize ad campaigns.One of the critical insights from the episode is the importance of targeted ad copy. Kylon explains how their AI Add Analyzer tool helps in creating effective ad copy by analyzing hundreds of data points. This tool ensures that the ad content resonates with the intended audience, leading to better engagement and conversion rates. David underscores this by highlighting the pitfalls of generic AI-generated content, which can often miss the mark and even harm the brand's image.The conversation also delves into the future of AI in marketing. David and Kylon discuss exciting developments on the horizon, including tools that can predict market trends and automatically adjust ad campaigns based on real-time events. For instance, a tool that can recommend ad strategies following a local event, such as a hailstorm in Texas, ensuring that the marketing efforts are always relevant and timely.Throughout the episode, the emphasis remains on the meticulous process of training AI. Dave Hansen likens this process to raising a child, stressing the importance of guiding AI through the right resources and giving it the feedback needed to learn and improve continually. David and Kylon agree, noting that this investment in training AI is crucial for achieving consistent and valuable outcomes.As the discussion progresses, the trio touches on the potential misuses of AI. They caution against over-relying on AI for content creation without proper oversight. David shares anecdotes about companies that faced backlash because their AI-generated content strayed from the brand's voice, leading to a disconnect with their audience. Kylon adds that in regulated industries like franchising, improper AI use can lead to legal issues, making it imperative to control the "temperature" or creativity of the AI to ensure compliance.The episode wraps up with a forward-looking perspective on AI's role in marketing. David and Kylon express their optimism about the future, envisioning a landscape where AI not only assists in data analysis and ad creation but also becomes integral to strategic decision-making. They are working on new tools that will further enhance AI's capabilities, making it an indispensable asset for marketers.For those interested in exploring the potential of AI in their marketing efforts, David and Kylon recommend starting with a clear understanding of what AI can and cannot do. They advise marketers to invest time in training AI with relevant data and to use it as a tool to augment their strategies rather than replace human insight.To connect with David and Kylon, visit saleschats.com or email David at dstein@saleschats.com. Their expertise and innovative approach to AI in marketing make this episode a must-listen for anyone looking to stay ahead in the fast-paced world of digital marketing.In conclusion, this episode of The Advisory Board Podcast offers a comprehensive overview of how AI is transforming franchise marketing. David Stein and Kylon Gustin provide valuable insights into the effective use of AI, the importance of targeted ad copy, and the future potential of AI-driven marketing strategies. With their combined expertise and...
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    35 mins
  • Secrets to Success: Franchise Founder Must-Haves

    Secrets to Success: Franchise Founder Must-Haves
    Jul 9 2024
    Welcome to another engaging episode of The Advisory Board Podcast, where we delve deep into the world of franchising to uncover actionable insights and proven strategies to elevate your business. In this episode, we are delighted to have Dawn Abbamondi, the CMO of SMB Franchise Advisors, as our esteemed guest. Dawn's extensive experience and contributions to the franchising industry make her a beacon of knowledge and expertise.
    Before we dive into the episode, a heartfelt thank you to our sponsor, ClientTether, for their unwavering support in making this podcast possible.

    Dawn Abbamondi, a Certified Franchise Executive (CFE), has been a stalwart in the franchising industry for 25 years. Currently serving as the CMO of SMB Franchise Advisors since 2011, Dawn has been instrumental in helping brands not only launch but also thrive post-launch. SMB Franchise Advisors specialize in a full range of services, from emerging brand consultation to late-stage brand enhancement. Their team boasts an average tenure of over 20 years, providing unparalleled expertise in the field.

    Dawn’s journey with SMB Franchise Advisors began as a client when she was working for a franchisor in Philadelphia. This initial interaction evolved into a professional relationship that has spanned over a decade. Dawn's role encompasses everything from client consultation to content contribution for Franchise Dictionary and Entrepreneur magazine, and co-chairing the IFA Women's Franchise Committee.

    SMB Franchise Advisors stand out in the industry by offering comprehensive post-launch support. Their services include evaluating the franchiseability of a business, advising on financial margins, and providing ongoing operational support to ensure franchisees’ success. This holistic approach helps brands not only launch successfully but also sustain and grow in a competitive market.

    Dawn shares essential insights into what aspiring franchisors should consider:
    Unique Value Proposition: Brands need to identify what sets them apart in the market. This uniqueness doesn't have to be revolutionary but should offer a distinctive edge.
    Financial Preparedness: Franchising requires significant investment. Prospective franchisors should be prepared to reinvest profits into the business for sustained growth.
    Trademark and Intellectual Property: Securing trademarks early in the process is crucial for protecting the brand’s identity and ensuring a smooth franchising journey.
    Operational Excellence: Ensuring that the operational model is efficient and replicable is key to franchising success. This includes having robust training programs and support systems for franchisees.

    Dawn illustrates these points with real-world examples, such as the success story of Rolling Suds. This brand transitioned from a regional powerhouse to a national franchise under the guidance of SMB Franchise Advisors. The founders’ dedication to operational excellence and strategic partnerships played a significant role in this transformation.

    Franchising is not without its challenges. Dawn emphasizes the importance of:
    Long-Term Commitment: Franchising is a marathon, not a sprint. Brands must be prepared for a long-term commitment to see significant success.
    Community and Networking: Engaging with the franchising community, attending events, and networking with other franchisors can provide invaluable support and insights.
    Adaptability and Innovation: Staying ahead of industry trends and continuously innovating can help brands remain competitive and relevant.

    A key takeaway from the conversation is the importance of franchisee success. Dawn stresses that franchisors must focus on ensuring franchisees are profitable and satisfied. This includes providing ongoing training, marketing support, and a strong operational framework.

    Dawn concludes with the notion that franchising is a collaborative effort. Success in this field comes from supporting each other and learning from shared experiences. For those looking to connect with Dawn or learn more about SMB Franchise Advisors, she can be reached via LinkedIn or email at dawn@smbfranchising.com.

    Thank you for joining us on this enlightening episode of The Advisory Board Podcast. We hope you found Dawn’s insights as valuable as we did. Don’t forget to check out our sponsor, ClientTether, for their amazing CRM solutions tailored for franchises. Stay tuned for our next episode, where we continue to bring you the best in franchising expertise and actionable advice.
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    43 mins
  • Mastering Your FranDev Goals with 4 Marketing Secrets

    Mastering Your FranDev Goals with 4 Marketing Secrets
    Jul 2 2024
    Welcome to another insightful episode of The Advisory Board Podcast, where we delve into the world of franchising, bringing you expert insights and actionable strategies to elevate your franchise operations. This episode features a special guest, Marci Kleinsasser, Vice President of Marketing at Home Franchise Concepts (HFC), a leading home and consumer franchise platform. With over 30 years in the industry, Marci brings a wealth of experience and knowledge to the table.Episode Sponsor: ClientTetherBefore we dive in, we want to extend our gratitude to our sponsor, ClientTether. Their support makes this podcast possible, and we encourage our listeners to check out ClientTether’s innovative solutions for franchise and business growth.Key Takeaways from the EpisodeIndustry Trends and ChallengesFluctuating Lead Volumes: Marci highlights that lead volumes have been inconsistent, varying significantly by source. This fluctuation has posed challenges in maintaining a steady pipeline of quality leads.Election Year Impact: The political climate and consumer confidence play a significant role in franchise development marketing. Election years, in particular, can lead to uncertainties and fluctuations in consumer behavior and lead volumes.Setting and Achieving Growth GoalsMarci emphasizes the importance of data-driven strategies in franchise development marketing. Here are some steps she outlines for setting and achieving growth goals:Understand Your Numbers: Marketers must use historical data to determine lead conversion and close rates. If historical data is unavailable, benchmarking data from sources like the Franchise Update Media (AFDR) Report can be invaluable.Back into Lead Targets: Once you have your growth goal, work backwards to determine the number of leads needed to achieve that goal. This involves understanding your cost per lead and cost per territory sold.Budget Constraints: If the budget does not align with the growth targets, it’s crucial to set clear expectations with leadership, using data to justify the required budget or adjusting the growth goals accordingly.Marketing Channels and StrategiesMarci provides insights into choosing and optimizing marketing channels for franchise development:PPC and Cost Per Lead: Pay-per-click (PPC) advertising remains a staple, but costs per lead have significantly increased. However, the quality of leads has also improved, making it a worthwhile investment.Portals: While portals have historically provided a volume of leads, their quality and conversion rates have been underwhelming. Marci advocates for a balanced approach, integrating portals with other high-yield channels.SEO and Content: Organic search and content marketing are foundational. Ensuring your website is optimized and regularly updated with relevant content is crucial for long-term success.Email Marketing: Effective email marketing campaigns are essential for nurturing leads. Marci discusses the importance of understanding industry benchmarks for open rates and click-through rates to optimize these campaigns.Brokers and Consultants: Working with brokers and consultants can be expensive but can yield high-quality leads. Marci emphasizes the importance of supporting these networks with up-to-date information about the brands and maintaining strong communication channels.Organic Channels: SEO and Content StrategyMarci stresses the importance of organic channels and a robust SEO strategy:Website Optimization: Your website is your storefront. Ensure it is optimized, engaging, and regularly updated with fresh content. This not only improves your search rankings but also enhances the user experience.Content Quality: High-quality content is crucial. With the increasing scrutiny from search engines, ensuring your content is relevant, valuable, and well-written can significantly impact your organic traffic and lead generation.Analytics and Continuous Improvement: Use analytics tools like Domo to monitor and measure the performance of your organic channels. Regularly review and adjust your strategies based on data insights to maintain and improve your rankings.Consultant Networks from a Marketer’s PerspectiveBalancing organic lead generation with consultant networks is key to a comprehensive marketing strategy: Support and Communication: Marketers should support consultant networks with the latest information and unique selling points of each brand. This helps consultants effectively pitch the brands to potential franchisees.Partnerships: Building strong partnerships with consultant networks ensures that they are well-informed and can provide quality leads. Regular communication and updates are essential.Data-Driven Decision MakingMarci underscores the importance of data in marketing decision-making:KPIs and Benchmarks: Establish clear KPIs that align with industry benchmarks. These should be understandable and relatable to all stakeholders, including the executive team.Testing and Optimization: ...
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    50 mins
Leadership Economics
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Profile Image for Robert Shad Hansen

Great franchising podcast with fantastic guests!

Phenomenal quality of content with proven veterans in the franchising industry. lots of great insights here. definitely going to keep listening.

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