In this era, where everything is only a click away, technology becomes a necessity for most franchise businesses. Franchised businesses can keep thriving for years if a proven technology is at the heart of their business. Technology gives an upper hand in the competitive world of the franchise business as it unlocks various options.
Manual cash registers and sales calls are a thing of the past now. Today, technology is tied with almost every business operation. Technology has enabled fast delivery, automated inventory reorders, customer relationship management (CRM), granular data as well as granular insights.
If you are wondering how technology has enabled franchising, you are in the right place. Here are some top technologies that are driving the future of the franchise business.
Focusing on Smartphones and Online Delivery
Nothing gives us more pleasure than sitting on our cozy couch and enjoying our meals. I mean, who doesn’t love doorstep delivery? Franchise owners have realized that the easier it is to do business with them, the better the customers feel, and the more profitable they will be.
A major part of franchising now focuses on developing mobile-friendly applications to grow their business. Smartphones are everywhere, and so can your business be if you focus on catering to mobile phone users.
If you include online delivery options in your business, your sales may skyrocket, as many users prefer online shopping. Online booking systems provide more freedom to customers, as they can choose payment options, delivery methods and dates, addresses, and much more.
The New Way of Marketing
Social Media
Social media provides various opportunities to scale your business. The ‘geofencing’ tool provided by social media platforms is a boon for franchising. It enables franchises to target a specific area for promoting their brand. If you realize and leverage the power of social media, your business will grow year in and year out.
Virtual Assistants
“Alexa order two large-sized pizzas for delivery”
If you want Alexa to signal your franchise for such orders, you can do that.
A digital age requires smart solutions. If you want to grow your business, you can offer different virtual assistants to scale your franchising career. By doing so, Alexa, Google, Cortana or whatever assistant you choose, will signal your local franchise business whenever an order gets placed.
Automated Messages
Printing flyers, sending junk mail, sending general emails, yellow page advertising or sticking posters on telephone poles will no longer yield great results in today’s world. Instead, send personalized emails and text messages to your customers, informing them about your upcoming sale – utilize Facebook, Instagram, LinkedIn and Twitter for your marketing. This will invite more people to your business. There are plenty of automation options available that will help you in this endeavor.
Machine Learning (ML) and Artificial Intelligence (AI) at your Service
KPI Tracking
Franchises nowadays use tools such as Key Performance Indicator (KPI) that gives granular insights into their businesses. KPI leverages ML and AI technologies to track the strengths and weaknesses of the different chains of your franchise. Using these detailed insights, you can improve your business in many ways.
Point-of-Sale Systems
POS systems provide cashless options and different payment gateways, which enhance customer experiences. POS systems also offer automated account integration and marketing opportunities. Using the power of ML and AI, these services allow franchisees to monitor purchasing trends. A franchise can thus direct their sales towards more popular products. Some software also enables franchise owners to automate inventory reorders among many other things.
In a Nutshell
To keep thriving in the competitive world of franchising, embracing technology is essential. Technology can enhance every operation of your franchise, be it marketing, logistics, delivery, CRM, H/R, or the customer experience.
Focusing on mobile-friendly services, improving online deliveries, increasing your social media approach, and using insights from your business are all ways to grow your business.
About the Author
Bill McKee has been a business owner since 1993 and built several successful businesses. He has a fascination for understanding different business models and really enjoys helping people. For those reasons, he has been a franchise consultant since 2007 and has helped well over a hundred people to be awarded franchises. If you are interested to see what is available in your area, contact Bill at (972) 767-8433 or Bill@TheFranchiseConsultingCompany.com.