Monthly Archives: May 2011

Relentless Marketing: Online Marketing & Lead Generation

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The world is flat.

We are linked, irrefutably, via the Internet, and you cannot afford to not be using the World Wide Web to your lead generation and marketing advantage.

Lead generation is important. No matter how successful your business, finding new customers is an every day objective. About a month ago, we briefly discussed the different methods that firms use to generate leads. Today, we delve a little deeper.

 

Online marketing is the most effective and the most widely recognized lead generation method. Online marketing involves generating leads using organic search engine results, paid search engine results, webinars, online newsletters, banners, portals and online directories to produce leads. Your choice of implementation should reflect your lead generation needs, the culture of your business and the demographic base of your customers.The key to online marketing’s success is its chosen operating medium: the Internet.

50 years ago, most people worked a standard 9 to 5 schedule. Today, this is not always the case. Though traditional work schedules remain, many people work from home, work multiple jobs or simply have schedules that don’t fit within your business’ hours of operation. To that end, the Internet’s around the clock availability makes it a perfect platform for lead generation; if you’re online, you’re available whenever the lead is available.

 

Another benefit of online marketing and its close ties with the Internet is its enhanced visibility. “Between the dawn of civilization though 2003 5 exabytes of information was created,” said Eric Schmidt, former CEO of Google. “Now that much information is created every 2 days.” We are inundated with online content. Many of us check our email first thing in the morning and right before we go to sleep. With so much of our attention online, you cannot afford to exclude online marketing from your lead generation strategy.

The Internet's around the clock availability makes it a perfect platform for lead generation.

 

 

Tune back in for part two next week; we’ll go over each online marketing technique and how to use it effectively.

 

Dunkin’ Donuts: A Tasty Franchise

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HI, MY NAME IS ANNABEL, AND I AM A CAFFEINE ADDICT…

Every morning it’s the same routine: I drowsily silence my alarm clock and roll out to the edge of my bed, depending on gravity to literally get me out of bed. What can I say? I am not a morning person. I shuffle, half awake, to the kitchen and make a pot of coffee. My workday hasn’t officially started until my first sip of piping hot java.

 

YOU KNOW WHAT GOES WELL WITH COFFEE, RIGHT?

A staple of early morning staff meetings, the doughnut is an important part of Americana (even though its cultural origins are disputed). You cannot mention doughnuts (or coffee) without a nod to Dunkin’ Donuts.

 

In 1946, William Rosenberg founded Industrial Luncheon Services, a company that delivered meals, snacks and coffee to Boston factory workers. Industrial Luncheon Services’ success led Rosenberg to open his first coffee and doughnut shop, Open Kettle, which later became Dunkin’ Donuts in 1950. Today, Rosenberg’s franchise has more than 9,700 locations in 31 countries worldwide. Of course, the majority of Dunkin’ Donuts restaurants are in the U.S.

 

Though the original Dunkin’ Donuts location in Quincy, Massachusetts focused on coffee and doughnuts, modern day locations serve much more than the ubiquitous breakfast food. Today, you’ll find apple pie, bagels, breakfast sandwiches, cookies, danishes, and even tuna sandwiches on the menu.

 

Did I mention they serve coffee? While “donuts” might be part of its name, Dunkin’ Donuts’ coffee comprises almost 50 percent of its profits. For the past five years, the company has held the number one spot for customer loyalty in Brand Keys’ coffee category. I’m not surprised, I drink at least one cup of Dunkin’ Donuts coffee every day. After all, American runs on Dunkin’. Or so they say.

 

FUN DUNKIN’ FACTS

  • Dunkin’ Donuts makes over 1,000 different kinds of doughnuts. My favorite? The French Crueller, feel free to send me a dozen.
  • In 2009 and in 2010 Dunkin’ Donuts held a campaign for the general public to create the next Dunkin’ Donut. Each winner won $12,000 respectively and had their doughnuts offered for a limited time in Dunkin’ Donuts locations. Did you try one: Monkey See Monkey Donut and Toffee For Your Coffee?

 

WHY COFFEE & DOUGHNUT RETAIL FRANCHISES ARE GOOD INVESTMENTS


As a country, 50 percent of Americans drink coffee drink an average of 3.2 cups of coffee every day. At 9 ounces a cup, we’re consuming almost 29 ounces per person per day. It should come as no surprise the U.S. dominates the world in coffee consumption. It’s predicted that by the end of 2011 there will be over 50,000 coffee shops in the United States. There’s an undeniable demand for coffee and its accompanying sweet treats, making coffee and doughnut retail franchises good investments.

SIMILAR COFFEE & DOUGHNUT BUSINESSES AND FRANCHISES

  • Caribou Coffee
  • Café2U
  • Honey Dew Donuts (New England)
  • Big Apple Donuts and Coffee (Asia)
  • J. CO Donuts & Coffee (Indonesia)
  • Krispy Kreme
  • Happy Haus
  • Mister Donut
  • New England Coffee
  • Starbucks
  • The Whole Donut (New England)
  • Tim Hortons
  • Country Style
  • The Coffee Beanery

 

Should You Take Your Franchise International?

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The value of the U.S. dollar is languishing near levels not seen this low since July of 2008.As of today, the value of one U.S. dollar is 0.6999 Euro or, conversely, one euro buys roughly one and a half U.S. dollars. If you’re wondering why you’re taking fewer vacations and there are more tourists around, this is why. They can buy more here now and you can’t afford to leave.

In case you haven’t heard (and if you’re in the franchise world I’m sure you have), the Subway sandwich has served up some major competition to the hamburger giant, McDonald’s. Worldwide, Subway had 33,749 restaurants at the end of 2010. McDonald’s trailed 12 units behind with 33,737. A great deal of each of the franchise giants’ growth is due to their expanding appetite for the Far East.

 

It’s no secret that for years U.S. manufacturers have outsourced jobs to places like China, India and Vietnam. It simply costs U.S. businesses less to pay Chinese or Indian workers to do the same amount of work as an American, at least for now. Over the past 25 years, considerable global economic growth has been the product of manufacturing growth. As a result, Asian countries (as well as basically everyone else) have benefitted. Quite frankly, more manufacturing jobs have resulted in increased productivity and profits for businesses. Since 2005, the value of the Chinese yuan (pronounced yen) has increased by over 20 percent versus the U.S. dollar.

U.S. franchise brands are already doing well in China, Singapore, Vietnam and Malaysia. The franchise industry has a window of opportunity to take advantage of Asia’s growing economies and subsequently their growing purchasing power while the value of the U.S. dollar is roughly six and a half times more than the yuan.

 

In case you needed more convincing as to the validity of international franchising, here are a few more facts you should know:

  • Over 95 percent of the world’s potential consumers are outside of the United States.
  • India’s franchising sector is growing at an approximate rate of 30 percent annually.
  • Vietnam’s franchise market has experienced an average growth rate of 30 percent in recent years.
  • According to William Edwards, CFE, the key international markets that are expected to have strong franchise growth in 2011 include China and Vietnam.

 

Related reading:

1. Wall Street Journal: Subway Runs Past McDonald’s Chain: http://online.wsj.com/article/SB10001424052748703386704576186432177464052.html

2. Weak Dollar Boosting Quarterly Earnings – Wall Street Journal

 

 

 

Business Lessons From the NFL Draft

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The NFL draft is arguably the second most important night of any NFL season, the most important night being, of course, Super Bowl Sunday.

 

Unsurprisingly, the caliber of your team (and often it’s ability to win) is proportionate to the quality of your players. Although it is a very important one, this isn’t the only lesson that football or the draft teaches us about running a business.

 

Winners Are Losers

 

The rules of the draft stipulate that, in essence, the winning teams pick last. This is to ensure that the same team doesn’t win the Super Bowl every single year. This isn’t how the real world operates, just look at Harvard Business School. HBS graduates run the world. They make up the creative and managing teams of Yahoo, Google, Goldman Sachs and the Blackstone Group, among others. Quite simply, the best work for the best. Each of the aforementioned powerhouses utilizes new hires as part of their business strategy. Why shouldn’t you? Be thankful the rules of the real world differ from the rules of the draft; you can still recruit top performers. Remember to keep in mind that everything you do will attract future employees or push them into the arms of your competitors.

 

When You Wish Upon a Star

 

The Carolina Panthers had first pick on Thursday night. Beforehand I wondered if they would pick Auburn’s Cam Newton. Undoubtedly talented, Cam Newton’s a star of a quarterback. To that end, regardless of the talent of a new hire, you can’t use all of your money on your star recruit and think they’re going to save your business or make your more money. You hired them to do a specific job. The Panthers scored a good football player, but Cam Newton alone can’t make them champions.

Cam Newton

Preparing Your New Talent

 

One of the biggest discussions before the draft started on Thursday was whether or not Auburn’s Cam Newton deserved to be the number one draft pick of 2011. Regardless of what he deserves, there’s a big mental transition that needs to take place for Newton. Can Cam adjust his playing mentality when he steps onto an NFL field? The rules might be (basically) the same, but it’s a whole different ball game. Winning championships at the college level is not the same as winning championships in the NFL.

 

Like coaches and players, managers and coworkers need to be prepared for the role they’re going to play in the development and transition of a new team member. This is especially true for new hires that are young and accustomed to a collegiate lifestyle.

 

Taking a Risk

Mark Ingram

Previously injured or “troublemaker” players aren’t always a risk, and sometimes they are. Though not in the draft this year, the University of Florida’s Janoris Jenkins was recently dismissed from his position as cornerback due to his repeated arrests for marijuana possession. Will Muschamp, Florida’s new head coach, is implementing “the Florida way,” and Jenkins frankly knew better: this is his fourth arrest. This is the type of risk that you shouldn’t take. When a potential new hire has disregard for the rules or authority it’s a good idea to thank them for their interest and send them on their way. Once the plague of disrespect is caught in a team environment it’s difficult to eradicate.

 

Prior to the draft, James Andrews, MD, sent a letter to all 32 teams in the draft giving Mark Ingram, running back for the Alabama Crimson Tide, a clean bill of health after his knee injury. In the two weeks leading up to Thursday’s draft at least two teams removed Ingram from their draft boards due to concerns about the long-term health of his knee. Ingrams is the type of risk you should take. The Alabama running back plays with his whole heart. Regardless of his personal pain or discomfort he’s known for giving his whole self in every game. Despite his past knee problems, he’s been given a clean bill of health. When you’re looking at the resume or background of a potential new hire it’s so important to recognize that everyone makes mistakes or has things happen to them outside of their control. If they turn that adversity into fuel for personal improvement, that’s a winning pick.