Multi-Unit Franchisee Magazine Issue II, 2011 | Page 56

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Tracking the Future

Jim Carroll keeps his finger on the pulse of the
world around him, particularly its future. He is, after
all, a futurist who identifies business and cultural
trends ranging from technology and business
model changes to innovation, global challenges,
and growth. Carroll’s client list includes Northrop
Grumman, Visa, Rockwell Collins, Lincoln Financial,
and the Walt Disney Corp.
In advance of his April 28 keynote speech at
the Multi-Unit Franchising Conference, we asked
Carroll for his take on the fast-evolving consumer, technology,
and franchise business environment. He outlined five key areas
for multi-unit franchisees considering new brands to add to
their organization’s portfolio.
1) Paying attention. Consumers today face more stimuli
competing for their attention than at any previous time in
history—computers, the Internet, cell phones, video games,
etc. Carroll says today’s interactive world demands franchisees
be engaged in all media. “Marketers must work harder than
ever to capture the attention of the consumer and make a
connection. Brands must keep up with the pace of consumer
change in order to stay relevant,” he says.
2) changing family dynamics. There’s a new definition
of family in the United States and it’s no longer nuclear.
Successful franchise brands must respond to today’s changed
marketplace. “Hyper-nicheing is the new brand reality as the
market becomes more specialized and fragmented. Marketers
can no longer rely on preconceived segmentation strategies,
but rather need to think differently about who they are trying to
reach and how to reach them.”
3) under the influence. Celebrities and peers are
influencing consumers more than ever in this age of social
networking, and are looked to increasingly for advice and
brand recommendations. “Social networks are the new brand
influencers, and marketers must find ways to connect with
consumers who are highly influential in their peer groups.”
4) shifting behavior. Socioeconomic shifts are affecting
consumer behavior as tastes and preferences continue to
evolve. “Faster-paced preference change is the new reality,
and brands must be nimble to keep up with consumer
demand.”
5) rapid deployment. New products and innovation are
being brought to market ever more rapidly, often with the help
of “crowd-sourcing” from their customers. Brands, products,
and services must keep up or be left in the dust. “Time to
market and corporate agility are the new capabilities to focus
on,” says Carroll.

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Multi-unit Franchisee Is s ue II, 2011

Making your move

Multi-unit franchisees eager to pull the trigger on
expansion and growth are likely in a good position
to do so, the experts agree. Many have the capital to
structure the financial ends of the deals, and they usually have the infrastructure to run a larger operation.
If they can self-fund, their options are a little
more open, says Stites. Otherwise, “It’s still a lit ѱ