3rd Annual Franchise Marketing Report, Part 1
Editor: This is the first installment in a series of highlights from the 2021 Annual Franchise Marketing Report (AFMR).
2021 marked the release of the third Annual Franchise Marketing Report (AFMR). This report provides franchise consumer marketers with invaluable data and analysis they can use to benchmark their performance against other franchise brands and within their industry sector. In short, the AFMR is a unique resource franchise marketers can use to improve the effectiveness of their marketing efforts and spend.
The ongoing pandemic, on top of franchising’s already competitive and frothy landscape, has strengthened the necessity for marketers to better understand how their brand measures up against the competition, as well as how it is performing in the wider marketplace. The AFMR can help franchise consumer marketers understand how their team compares with their peers and, more importantly, help them direct their limited resources into the most effective channels for achieving their system-wide goals during these uncertain times.
“This annual report was created at the request of our Franchise Marketing Leadership Conference Advisory Board to develop relevant content for CMOs, and to learn more about their needs and challenges,” said Diane Phibbs, executive vice president and chief content officer at Franchise Update Media.
Participants in the AFMR consisted of franchise marketing leaders who completed an in-depth questionnaire. Responses were aggregated and analyzed to produce a detailed look into the marketing practices, budgets, and strategies of a wide cross-section of franchise brands and sectors. The data and accompanying commentary and analysis provide the basis of the 2021 AFMR. Below is the first part in a series of selected highlights from the new report.
Participating brands and categories
Franchise marketing teams are responsible for marketing to both consumer and business customers. More than half (54%) reported that they market to both B2C and B2B, while 33% market to consumers, and the remaining 13% to B2B customers.
Service brands accounted for 6 in 10 (61%) of all respondents, split evenly between brick-and-mortar (31%) and non-brick-and-mortar (30%). Twenty-two percent of respondents worked at food brands (13% retail food, 9% food), with the remaining 17% in non-food retail.
Unsurprisingly, as Covid cases eased earlier this year, 100% of respondents said the outlook for 2021 is better than it was for last year.
Next time: Leads and traffic count.
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Franchise Update Magazine: Issue 3, 2021