3rd Annual Franchise Marketing Report (AFMR), Part 5
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 fifth installment in a series of selected highlights from the new report.
Determining where to spend your marketing budget means keeping a sharp eye on the effectiveness of each channel you’ve chosen. For this year’s respondents, the overwhelming choice was Facebook, with both spend and effectiveness at 83%.
Instagram and LinkedIn both clocked in at 19% for spend, but differed largely in effectiveness with Instagram at 7% and LinkedIn at 22%. Twitter, at 2%, barely ranked this year, and Pinterest seems to have fallen out of favor with franchise marketers, with no spend or performance reported in this year’s survey.
Next time: Measuring customer experience.
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