How Being Listed in One of the Top 100 Franchise Brands can Increase Your Brand Value
For any education franchise brand, especially in India, the competition is massive. There are over 14 lakh schools in the country with another 40,000 higher education institutes.
According to a 2018 study, by CARE Group, the K-12 market in India is estimated at INR 16.65 lakh in FY2017 and is expected to grow at a CAGR of over 13% over the next three years to reach Rs. 24 lakh by 2022.
Eurokids, Kidzee, NIIT, Jaipuria, Shant Juniors, TIMTS, Doon School, Gait View technologies, Humming Bird Education and Sperowz Pre-School have made their way into the TOP 100 Franchise Brands List of 2019.
Amidst such striking competition, an education brand needs to keep itself ahead of the game. One of the best and most lucrative ways of doing so is being listed as one of the top education franchise brands. If your brand appears in such a list, it can positively influence the brand in multiple ways. Here are some reasons why you need to be listed as a top education franchise brand.
Increased credibility and legitimacy
Quite often, we see companies claiming to be convincing, persuading or winning without concrete pieces of evidence to support their claims. Appearing in such top lists shows customers exactly who you are and what you stand for. The credibility, trust and authenticity that comes from such achievements will always reign supreme in the building of a truly loved and respected brand.
When prospects are making a decision about whether or not to take a franchise, they are likely to shortlist the best ones. Most of the times, they also consider several factors before making the final decision. These factors are experience, cost, position in the industry, etc. And if you happen to be listed as one of the top education brands, it gives your brand ‘instant credibility’, thereby increasing the amount of business that you can expect.
In simple words, having a reputation as a brand that is recognized as ‘one of the best’ can be cashed in instantly.
Awareness among Parents
We live in a world where people rely on others’ opinions and do extensive research before making any important decision. If you are ranked among the top brands, even parents will trust you more. Your company will be labeled “trending,” “buzzworthy, or simply “popular”. This is hardly surprising given our penchant for everything ‘best’, ‘high ranking’ and ‘top’.
Differentiation in a Crowded Market
As mentioned above, we are currently operating in the crowded education industry. To stay ahead of the cut-throat competition, every brand needs to create a unique image for itself. Unfortunately, a major chunk of the education brands in India has no meaningful point of difference as compared to each other. While creating a USP is essential to stay ahead of the curve, getting listed as one of the top education franchise brands can surely help the brand achieve true brand differentiation. It can help a brand emerge as an industry leader and lead to accelerated business growth.
Getting listed as one of the top education franchise brands will surely help in true brand differentiation.
Entrepreneurs who are interested in investing in a leading franchise brand need to have a brand with a strong market presence. Their name should be known in the industry and brand recall value should be high among customers. Simply put, brand recognition is an important component in the formation of brand value. A brand that appears in such high-end top lists will definitely catch the eye of customers and industry leaders alike. It will put a brand on the map and ensure that it becomes the first choice of all customers and investors.
Makes for consistent marketing
The primary goal of any marketing strategy is to convince customers and portray the brand as the market leader. However, mere words are not always as convincing as brands tend to imagine. Therefore, it is important to market a brand not just with words but also with legitimate proof. As far as proving their mettle is concerned, there is no better proof that schools can provide than bagging a place in the ‘top education franchise brands in India’ list.
Many companies come off as large, faceless corporations and fail to make a deep, real connection with customers. For an educational institution that will carve the future of children, it is important to create a positive connection with potential and existing customers. Being featured in a prestigious industry list increases the likelihood of a positive connection leading to more referrals and positive brand mentions. This helps the brand create a positive, customer-centric image of itself among customers, increasing brand value by leaps and bounds.
The benefits do not end in the list itself. Researchers and journalists will consider such lists in their work. As a result, your brand will continue to receive recognition for a very long time. This is also one of the most effective ways to establish trust and familiarity among customers and parents.
At the end of the day, there’s something alluring about being called a ‘premium’, ‘biggest’ or ‘top’ brand by popular publications. The subtle usage of these words can gradually give a boost to the brand value and help the brand emerge as the finest in its space.
Amol Arora, Vice Chairman & Managing Director - Shemford Group of Futuristic Schools.