Market research is the process of analyzing data to see what products and services are in demand.
It is an important part of franchise marketing, as it can provide your janitorial franchise with a better insight on your target market, helps increase sales, and keep an eye on the competition.
Five Tips for Franchise Market Research
1. Identify Your Target & Objective
Create a comprehensive profile of your targeted customer or customers that you currently have.
Do you want to provide your services to hospitals, schools, or residences, or local businesses?
Identify objectives by targeting realistic and tangible results.
As an example; your objective may be to increase sales or increase customer loyalty.
A modern method for janitorial services is to offer current customers a referral bonus for pointing you towards new prospective business.
Research the janitorial industry, regional competitors, and target businesses and potential clients.
When investigating potential service areas, know the population, income level, and demographics.
This process will help you identify possible service verticals, marketing opportunities, and sales techniques.
When researching specific industries, look into promising market trends.
As an example; if the area you plan to service has a large construction project coming up, identify and connect with the contractors in charge of the job site.
Conversely, consider what trends appear to be declining.
As an example; if the housing market in your area is on a downward trend, pay particular attention to companies that may be downsizing.
Remember, a declining market isn’t necessarily a bad thing.
With the proper marketing approach and pricing model, you should be able to
Also include competitive analysis in your research.
What are your competitor’s strengths and weaknesses?
Their past and present strategies?
Use Google to identify competitors that are heavily invested in digital marketing, as well as local publications for those that focus on traditional media.
Pay attention to their pricing, sales, and the wording of their advertisements.
Use that information to create unique marketing and sales proposals.
3. Ask Questions
The best way to know what makes customers that need your services happy is to ask them yourself.
Decide on a focus group and use an online survey system.
Asking questions such as, what would they like to see done differently regarding their cleaning services, or what marketing promotions attract them the most, are useful to ask.
You may also consider sending a survey to any new customers when they make a purchase.
Another idea would be to send samples with surveys attached to potential clients.
Whichever way you decide, be sure to thank everyone you contact, whether they fill out the survey or not.
4. Analyze the Information
After you have collected all the data from multiple sources, it’s time to analyze it.
Inspect the results and ask yourself how you can position your janitorial franchise to meet customer needs more efficiently.
As an example; would the organization financially benefit from green cleaning services?
5. Use It
Once your research is complete; create a marketing plan based on the results.
- Top 50 Marketing Plan Software Tools and Apps: The Best Apps and Tools to Develop Effective Marketing Plans
You will also want to implement controls to ensure your plan is well defined and stays on target.
If you have any questions or would like to know how we can help your franchise grow, give us a call today!
In Bakersfield CA, call (661) 395-3009
In Fresno CA, call (559) 473-1790