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At a time when most franchise developers are working harder than ever to put a sale together, and many are complaining that it’s just impossible to get deals done, one Dallas developer seems to be having the time of his career!
What interests me, and perhaps you, too, is how the media are helping him succeed!
Enjoying the lead flow
“I am blown away by the media coverage that (the company) gets,” wrote Jason Killough, a veteran, independent franchise developer. “And the media contact us!” Meaning that he’s not groveling for exposure or for sales leads.
For the moment, I am concealing the company name because this article isn’t about promoting any particular company. But I know you’re curious so — keep reading — I’ll tell you the name!
Sold 3 deals in 1 month
Jason had just received notice that the company was promoted in USA Today and “We are going to be in Entrepreneur and INC. Magazine soon. Plus, we’ll be featured on a VH1 episode in August. Already sold two (deals) — Central Pennsylvania and Houston. Closing Baltimore next week. Three deals in a month. I’m happy!”
Meanwhile, many/most franchise developers can’t get even one deal done in three months! All of which explains why Jason — for the moment, at least — loves the media!
A one-time media darling
For several years, and until about six months ago, Jason was the VP of Franchise Development for Dallas-based HomeVestors, where I was the CEO for more than four years, a franchisee for two years, and a member of the Board of Directors for seven years. The loss of sub-prime lending two years ago foretold the weakening and downsizing of HomeVestors, once a franchise media darling.
In his email, Jason also commented that the company was getting much more publicity than HomeVestors had received while he was selling those franchises.
But perhaps not as much publicity as HomeVestors received in its day — I replied to him. Unfortunately for Jason, he wasn’t at HomeVestors for most of its media darling days. Fortunately for him, he’s now with a company that is a media darling — uh, for the moment, at least.
Not the media’s job to sell franchises
Newspapers, magazines, television programs — the media in general — do not, of course, exist to sell franchises. It’s not on their “values” or “mission” lists. The media exist to inform, educate, entertain and, especially, to make money! Writing about old, tired or downsized franchise concepts doesn’t make money, understandably. Those, and similar topics, don’t attract record-breaking numbers of sales leads, either.
What attracts media to your company?
So what does attract reporters and writers to a company? What can you do to generate more publicity, resulting in more franchise leads which turn into sales? And how do you get your company in line to become a franchise media darling?
I can’t give you all those answers in one article, and I know you wouldn’t expect me to, but I can give you one piece of insight that most franchise companies don’t seem to understand. Or, if they understand it, they can’t monetize it.
Invest in your brand buzz
Put some thought (and then some money) into your brand. Most franchise companies do not have brand buzz, and that’s the first reason the media pay them little to no attention. Who cares about those companies?
Media people are in a perpetual time crunch, almost always working on a deadline. There’s plenty to write about — just a day’s worth of media releases will convince you of that — but what should be written about?
And remember the criteria: inform, educate, entertain and make money for the medium! Reporters are taught how to keep score in journalism school.
The name alone had zero brand appeal
There was nothing special about the name HomeVestors — no brand buzz there. People, including reporters, were often confused about the company’s purpose. But when HomeVestors’ founder, the late Ken D’Angelo — who teemed with media savvy — created the Unique Selling Proposition: We Buy Ugly Houses®, he instantly added brand buzz! Just as importantly, there was now no doubt about what HomeVestors did. No one had to think about it — they saw the name, they imagined an ugly house, and immediately they knew they wanted to write about it!
As soon as Ken raised billboards with that tagline, the media response was immediate and constant. Who says such a thing? Ugly houses! . . . Isn’t that insulting? What do consumers think about that? . . . Isn’t that clever — who came up with that idea?
No one had to beg for the media’s attention — even though the company employed an enterprising PR company, brand buzz did most of the work.
A tagline may enhance a name
In the early years of its development, all HomeVestors had to do was announce that the “Ugly Houses® People” were coming to a particular city, and local media followed up with articles, photographs and broadcasts. The tagline added pizzazz — brand buzz — to the HomeVestors name.
The media coverage ensued for several years generating thousands of leads and helping HomeVestors eventually sell more than 250 franchises — oh it’s good to be a media darling.
Media interest was so intense, in fact, that Ken (my client at the time) often worried that an investigate reporter would dig deep and come up with a negative story. Actually, several tried — especially for TV — but at the time there wasn’t anything negative to report, and every story was positive, which further enhanced HomeVestors’ status as a media darling.
Circumstances may kill brand appeal
There are many other factors that help a company grab media attention, but if you don’t have brand buzz, you’re going to work harder to get any attention. Just flip through a franchise directory, look at the names of companies you’ve never read about, never heard about, and ask yourself: Do they have brand buzz? Probably not.
Or, they had it, and lost it due to other circumstances. Once again look at HomeVestors. Without sub-prime lending the company lost much of its appeal. Then the recession took over and there was little interest in writing about ugly real estate. What purpose would it serve?
Now here’s “the company” name
None of that worked in Jason Killough’s favor while he was selling HomeVestors franchises, but now he’s found a new franchise media darling. A company with brand buzz (in this case, fabulous imagery) . . . plus, timing.
Even in a recession people accumulate junk — or perhaps become more aware of it in a recession. And what do we do with it?
We get someone to haul it away! And that’s why the company that Jason reps is getting so much attention today . . . who could resist the brand buzz of College Hunks Hauling Junk®. Even people who don’t have junk might call them!
I told Jason to enjoy the success — media darlings come and go, even though most franchise companies never get to find out.
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Photo image by: Greg Pare
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