Why Millennials Make Successful Franchisees

Although it may not seem like it now, a rebound from the coronavirus pandemic is on its way. Now is the time to plan how your franchise can attract ideal ownership candidates like Millennials.

Franchise development has its fair share of challenges, not the least of which is recruiting potential owners who quickly become assets and have the chops to grow their franchise long-term. While Millennials may not be top of mind as your ideal development targets, omitting them based on overgeneralizations or anecdotes can be shortsighted and costly.

Read the full Franchise Update article to learn why Millennials are worthy of consideration for franchise ownership.

A Marketer’s Mindset in Guiding Clients Through the Current Pandemic

As marketers, we are tasked with guiding clients, brands, franchisees and even other marketers on media strategy, tactics and most recently, how to best navigate through an unprecedented crisis that changes by the minute.

It’s easy and somewhat comforting to follow the same news sources’ guidance and recommendations, but especially now with so many affected by this pandemic all over the globe, there are SO MANY sources of information – whether about the virus itself, how it’s affecting sales, tips for working from home, how to practice better self-care in stressful times…the list goes on.

Being a marketer is grounded knowledge gained from education and work experience, but another component is curiosity. It’s about gathering from multiple sources, researching messaging from different brands on the same topic, how to find that coveted solution to reach your target audience, standing out in a sea of sameness.

With this article, we’ve channeled our curiosity into finding the most helpful, practical content to better help you stay informed and provide guidance for your brand.

Should the News Disrupt Your Content Calendar? We (as an agency) have adapted our own content plan, as well as those of our clients, in the last few weeks. Business-as-usual content efforts can be seen as tone-deaf and possibly insensitive. But how does one decide to what extent to change an already-perfected content calendar? Learn more.

Is your business closed, on a limited schedule, offering different services due to the virus (restaurant takeout/delivery) or been affected somehow by the pandemic? Make sure your Google My Business listing has the most up-to-date information to help consumers. Learn more. Google is adding a feature to GMB listings that allows business owners to easily mark whether they are ‘temporarily closed’ – and will show this information in Search and Maps. Learn more.

Source:  Google

It’s better for businesses to be proactive rather than reactive in the age of social distancing. Learn more.

Agility and thoughtfulness in marketing strategy, at its best: How brands are acting quickly and taking extra precautions to avoid coronavirus insensitivities. Learn more.

To help ease the burden on small businesses, Facebook has created a $100 million grant program to assist 30,000 SMBs in 30 nations. In addition to grants, Facebook is developing a range of other options to provide further assistance. Learn more.

Source:  Facebook

We hope you’ve found our compilation insightful. Stay safe and if you haven’t already, subscribe to our blog to get next week’s roundup delivered straight to your inbox.

Adjusting Media Strategy Considering the Impact of Coronavirus on Markets, Consumers and Brands

As you are assessing the impact of this virus pandemic on your brand and market hour by hour, we at Mindstream Media Group are also reviewing our media strategies and recommendations for each client and the unique conditions of each plan. We know that every brand is experiencing these market changes differently. Some are gaining, some are at risk and some will rebound significantly. Our teams remain your trusted partner to discuss challenges and make campaign modifications where needed.

What you can expect from your Mindstream Media Group team:

  • We will contact you to discuss your current campaign performance and provide a point of view for your media plan.
  • We will deliver options for changes to your media based on current and potential near-future consumption and competition.
  • We promise consistent communication and transparency.

Making Media Work in a Time of Crisis

  • While many companies have already suspended media during this time, we advise our clients to continue to evaluate the market and your brand’s communication needs. Ask what your company and brand needs to communicate with your audiences. Think of media as a critical part of your overall communication plan to your customers. What do your customers need to know? What questions do they have? What is the critical brand message you need them to understand? Use paid media and your owned channels to help ensure this message is received.
  • Focus on the one most important service you offer or need you can meet, then look at how media can support that effort. Think about community benefit and your brand’s role. That should be the core of your message and creative expression.
  • When conditions dictate or your brand determines that it is prudent to cease all marketing activities and spend, then work to develop a “rebound” plan. Your media will be essential to a recovery approach that will help your brand rebuild its presence in an altered marketplace.
  • Increased time at home means your audience is consuming more TV, video and social media. A well-placed message and shift of dollars to these channels can help you communicate with them.
  • Dayparting and time targeting must be rethought and adjusted for your unique audience. We can evaluate your current plan for TV, CTV, search and all digital channels and realign based on new realities of consumer behavior during this crisis.
  • Market by market adjustments are recommended based on changing conditions that impact your business. Closures, lockdowns and other geographic conditions can be reviewed to help adjust your plan.
  • Supporting visibility and maintaining your voice during the crisis are now the primary goals. Brands must still be good businesses and members of the community. Stay engaged and available through media. For many categories, a focus on direct conversions, visits or other direct response is no longer effective. Instead, reserve these efforts for the rebound plan.

Each Market Category Has Unique Needs

Restaurants and multi-location businesses

Action: Shift away from location traffic-driving media to convenience messaging promoting delivery, pick up or other new convenience service that could be created in order to meet unique needs.

Banking and financial

Action: Brands should consider messages of empathy, of stability, of availability through digital channels with a focus on customer service, not products.

Retail categories

Action: Depending on products, these companies can be instrumental in helping people prepare and remain stable and confident in their daily lives. Design your messages to focus on preparation and understanding the situation hour by hour.

Healthcare brands

Action: Brands must prepare multiple messages for many audience segments centered on care questions, urgent needs, advice and online resources. Media channels should remain active and varied with frequent optimizations.  

Home services

Action: There may still be opportunity to drive conversions and provide essential services in this category. People are at home, and transactions are still possible though this may change in the coming weeks.

Travel and leisure categories

Action: Media dollars should be halted for most brands and quickly begin plans for when conditions improve. Reserving these dollars is critical.

Media Channel Considerations

  • Consider keeping TV and CTV intact within your media plan. Why? Viewership is on the rise, especially in the news dayparts. It is an ideal time to communicate. With conditions changing rapidly, the audience will remain engaged.
  • Digital video remains a powerful way to stay visible during a crisis and is less costly than TV if shifts are needed. It is also an effective channel for experimenting with different messages and targeting depending on your goals.
  • OOH media dollars should be cancelled and shifted to TV or CTV when possible. OOH is not where audiences will see your brand in this new situation.
  • Don’t rule out radio. Availability is plentiful, and it has become a valuable all-day news source.
  • Stay focused on local listings management and reputation management. With changing conditions, companies need to maintain accurate information and hours to help people who are seeking information. Reputation management will also be critical during this crisis time. Respond and be active to maintain a confident, relevant presence with your customers.
  • Consider the potential media cost savings especially in TV and radio at this time. This will vary market to market but should be a part of your consideration when your brand is evaluating the role of media in your business during this crisis time and for the rebound.

Next Best Move: Plan for the Rebound

As this crisis unfolds, we will work with you to take swift, intentional action to steward your media dollars. When conditions change and markets and customers return, we want you to be ready with a creative, aggressive media plan to help rebuild your presence and voice in the marketplace. Please lean on your Mindstream Media Group team members to help you plan for the current situation and for the rebound which is on its way.

New Video Creation Tool Launches for SMB Owners

In late February, Vimeo announced their new video editing tool, Vimeo Create, has officially been released on desktop, Android and iOS apps. Vimeo Create hopes to help small to midsize businesses create high quality, affordable videos to use for social media marketing campaigns.

Vimeo Create Pro

Users can download Vimeo Create and use their wide range of “smart” editing tools and video content; however, the purchase of a monthly subscription will be needed in order to save and share created videos. Vimeo Create boasts unlimited stock video, a growing template library and the ability to upload videos in every social media format and ratio.

Vimeo Create is designed to integrate your existing media marketing, such as CRM or e-commerce, while connecting Twitter, Instagram, Facebook and more. Vimeo has also included features to help businesses that have dedicated project teams. Using Create Pro, collaborators can invite team members to add time-coded comments inside of the video while working on a presentation.

Who Is This For?

Video is now an essential piece of social media marketing. Prior to the launch of this new tool, Vimeo surveyed 1,000 small business owners and reported that 22 percent of them believed that they currently use enough video in their marketing strategies. Vimeo is offering a free trial of Vimeo Create and plans to add more editing components and templates as the year progresses. With this tool priced at $20 per month, Vimeo Create is perfect for small businesses that have limited budgets for video creation.