Traits of a succesful franchise part 4

Your product has to be good enough. It doesn’t have to be perfect, it just has to be good enough. Your product is your strongest point of contact. Even if your brand was not done professionally, you’ll survive. But if your product sucks, then your business won’t last for long.

Good branding cannot save a bad product. But good products can save bad branding.

Jollibee’s BBQ Chicken was marketed right and was given enough advertising but still flopped. Blackberry’s reputation could not save it from Apple. And Manny Pacquiao’s star pow-er could not rescue his retail stores nationwide.

Successful franchises are known to provide superior products. But it’s not just all about price vs quality that matters. There are other ways to make it superior:

a. A superior product has to be delightful and give people a high degree of enjoyment or satisfaction. If a customer doesn’t feel delighted, then there will be no motivation to return.
b. A superior product has to be priced right and must feel like good value for money. If a customer feels that you are overpriced, then people will think you are greedy.
c. A superior product has to be remarkable, meaning people need to care enough about it. If a customer does not make any comments, then it means there’s nothing special and nothing to share.

Here are some things that can help you create a superior product that is just good enough:

1. Experience. Map the customer journey towards your brand and design every step.
2. Feedback. Always ask people what they think of your offer.
3. Compare. Go head-to-head with your direct competitors and place your product side-by-side. Note the differences and find ways to make yours better.
4. Use the senses. Add sensory touch points that increase your distinctiveness.
5. No shortcuts. Don’t sacrifice quality unless you are priced very low.
6. Pricing. Be absolutely careful with how you price. It doesn’t have to be low all the time. Know the market you’re in and price sensitively in relation to that market.

If you need help improving your product, or if you need a coach for your brand, just text or call Godmother at 0915-5648877 or email Gen Millare is the CEO of Godmother Philippines, a brand support agency that helps SME’s brand independently.