Episode 6: Featuring Liane Caruso of Entrepreneur Media

Host Josh Allen interviews Senior VP of Entrepreneur, Liane Caruso.
Entrepreneur has set its sights on being the educational hub for franchising. They're providing resources on their Franchise Center for all audiences: existing franchisors and franchisees, people interested in franchising their business model, prospective franchisees, and suppliers.

Listen to Josh's conversation with Liane to learn more about the exciting things to come at Entrepreneur. You'll also hear about:

• The growing need to meet audiences with quality content.
• The franchising opportunity.
• Navigating the "noise" and finding success with digital marketing.
• Giving digital advertising the time and budget needed to be successful.

Transcript

Josh Allen: 0:10

Welcome back to digital shop talk the podcast I am one of your location three co hosts Josh Allen. I'm pleased to be joined today by fellow colleague in franchising in front of location three Leanne Caruso of entrepreneur Media Group. Leanne, nice to chat with you today. Hi, thank you for having me. How? How is everything going for you at entrepreneur? Tell us a little bit about your new role, I think, what has it been? Five months, six months now? How long have you kind of taken on this role at entrepreneur?

Liane Caruso: 0:40

I don't even think it's been that long, maybe maybe five months pushing it a little over four. But yeah, so everything's been going great. We, we have so much on the horizon entrepreneur, we are building out more content, more resources, more educational opportunities, and more lists. We're just trying to be more of a presence for franchising and be more of a resource for everybody. You're looking to franchise looking to become a franchisee, or people who are already in the industry who are franchisors or suppliers. So we have, we have low hanging fruit, and we have heavy lift projects that are all underway. And I'm so excited about some of the things to come.

Josh Allen: 1:23

Nice. That's great five months and probably in some ways, especially as we've kind of navigated what feels like the third round of COVID a lifetime anyways, but hopefully, hopefully we're on the tail end of that. You know, obviously entrepreneur is a well established brand established media company, I was gonna ask you specifically and I know you started to touch on this, but a big part of your role is obviously expanding. You know, entrepreneurs presence when it comes to franchising. I'm curious to know a little bit more about that and where you're focused on both short term and long term in terms of growth of that franchising audience and the impact you think entrepreneur can have on that audience in particular.

Liane Caruso: 2:02

Yep, absolutely. So, you know, we, we've been in franchising for over 43 years. I mean, I think since they started the publication, franchising has always been a big piece of it, we've got the franchise 500 list. And then we've got all of the subsequent lists that come from that we've got a portal on our website, so people can search for website opportunities, we have a quiz to match people up with different opportunities as well. And what we're doing is we are right now our content is based a lot on consumer focused content, like Taco Bell, change the menu, Chick fil A got this. But that doesn't. While it's great for clicks and website, visitors, and it brings people into our site, it doesn't always apply to what we're feeling and needing in the franchise industry. And for those people who come to our site, and we are lucky to get those opportunity seekers, we're get we get those people who are looking to start a business and they may or may not know that franchising is an option for them. So we have an opportunity to take those folks who come to our site who are curious, who want more information and to help nurture them through the funnel, from very top of the funnel to hopefully very bottom of the funnel and hand them over to some franchise brands, where it might be interesting to them to become a franchisee or explore the opportunity. So I think what we're currently missing is kind of that middle piece that that gap where we can educate them again and again, provide resources to teach them about franchising and what that means for them what to expect. So we we've rebuilt franchise, five hundred.com, it is in its infancy, and we've audited our 5000 pieces of franchise content. And we're building out navigation and we're building out user journeys, we're building out different tracks based on who you are in franchising and where you are in your journey in franchising. So, we will have, you know, I want to become a franchisee, and we'll have all content related to, to that, and webinars and podcasts and videos and so much content to produce for those people in that funnel and take them on a journey. So they're better educated when they're ready to make a decision. And then we'll have a track that, you know, I want to franchise my business. We have a lot of entrepreneurs out there who come to our site and want to understand that franchising is an option for them. And then again for the franchisors in the supplier industry, where we collaborate with partners and we produce content and keep them up to date on what's happening in the industry and resources that are available to them. So building out a whole new website, building out additional opportunities for content. We are a content machine. We have the capabilities to do all of those things like podcasting videos, webinars, great content hubs for certain topics or verticals and just be a better resource to franchising as a whole,

Josh Allen: 5:01

awesome 5000 pieces of content to audit that sounds like quite the project in and of itself.

Liane Caruso: 5:08

Yeah. Yes. And then not only audited, but figure out where the gaps are, and, and, and additionally organize it. So we've got a lot to do. And we're looking forward to collaborating with various partners and people to have to help us produce content for us. We've got a lot of interesting and fantastic and smart people in franchising to help us build out that content, because we recognize it's not just us.

Josh Allen: 5:31

That's great. Really great. I, this kind of relates to a next question as well. Right. I know, you touched a bit on this earlier. You know, one of the things that continues to be a topic is the Great Recession, right and without kind of going too far down that rabbit hole. I think as it relates to franchising, it seems to me and this is something we've discussed with previous guests on digital shop talk that now might honestly be as good a time as ever to get into franchising. What are what are your thoughts on that? Why do you think it makes sense and why the timing might be right, for a lot of franchisors to actively recruit new franchisees or even entrepreneurs to your point may look to franchising their business because of the changing nature of the economic climate, and changing nature of career trajectories for a lot of people over the last 12 months.

Liane Caruso: 6:21

I definitely think we've all seen that trend that franchising might, might be the big winner in this people who are looking to leave corporate jobs want that flexibility that they can find in franchise opportunities, people wanting to own their lifestyle better be more in control of their future and their finances. Also people looking to create opportunity for their family, generational buying franchise opportunities for their kids who they can keep something in the family. I think that's been an interesting trend that we've seen. So I definitely think now is a great time for brands to reach out to those looking for a change. And I know that people are curious about what's out there. And I have heard that a lot of people didn't know that franchising was an option. And so I hope that entrepreneur, we can help with that create that education resources, to let them know how franchising can be impactful to their lives.

Josh Allen: 7:20

Right. Yeah, I think it's, it's almost cliche to say, but even when I talk with friends who are not in franchising, and you mentioned franchising, the first reaction almost always is Oh, like McDonald's, right? And there's so much more to franchising, as we all know, it really is eye opening. And it's great to hear that you guys that entrepreneur are kind of shedding some light on that to a broader audience. From the franchisor perspective, you've you've got a pretty extensive network, you spent a lot of years in this business, you know, and in franchising, prior to entrepreneur, as far as kind of your contacts your network as we shift out of what is hopefully the tail end of the pandemic, as we've come to know it over the last two years. What, on the brand side, on the franchisor side, what are your folks really focused on? What are they looking to pay extra attention to in 2022, and even beyond over the next two to three years, as this business climate really does evolve?

Liane Caruso: 8:16

I think a lot of brands are, there's a lot of noise out out there on on digital. And we've all had to shift a lot of our marketing efforts, as you know, to digital marketing, and especially in the franchise development space. People are trying to navigate what's working for them. And it also seems that different brands are having different successes online, both social Google Pay Per Click programmatic, all of those things, and they're trying to figure out what's working for their particular audience. So I think with all of the noise that's out there, people are looking to create content, and they're looking to create relevant content that's going to get people to engage or interact. And also try to stay top of mind when potential candidates are looking online, they're going to find the information somewhere from some brands. So having your brand's information out there and creating brand awareness and creating personalities behind the brand. I think that that's really important to people and they they understand now more than ever, that content is critical to to staying, staying in front of the other opportunities. And I have noticed that a lot of C suite executives are really starting to create brand, their own brand identities online to showcase and how they support the franchise brand, as you know, as you come into the candidate process.

Josh Allen: 9:45

Right. Yeah, we started we see that as well. And I think it's a great strategy. I think, you know, it makes a lot of sense to your point at the executive level to really do that. For those executives and for for franchisors, where do you see especially when it comes to marketing. I know we've talked a little bit about content, but you know, media or just general strategy, do you see any kind of consistent gaps that franchisors are struggling to fill? Or maybe just things that they're missing the mark on? Is it an oversaturation of technology? Is it you know, a lack of being able to bring a lot of these different tactics and strategies together? What stands out to you that, I guess shows room for improvement, maybe across franchising from a marketing perspective?

Liane Caruso: 10:29

Well, I'm always gonna say budget. I, I think that the one of the challenges is having a strong media mix of tactics, because they all kind of work together, you know, a rising tide lifts all boats. And so I think what happens is with limited budgets, they franchisors are putting kind of all of their eggs in one basket, or, you know, just a couple of tactics. And really, the way that franchise development marketing is working these days is you kind of have to be a little bit everywhere. But I've noticed that the people who spend money are the ones that make money and I and obviously, that's, that's a normal result. But for instance, brands tend to give up on tactics a little too quickly. I'm sure as you know, this, especially in digital marketing, it's, you know, they're we're doing a PPC campaign or a LinkedIn campaign or a Facebook campaign. And, you know, they said I haven't gotten conversions, or the, the candidates aren't, aren't quality. But really, there has to be a significant amount of time and budget put into it before giving up. And I feel like that's one of the biggest mistakes that that franchise brands make. Because really, if you kind of put your time and your money into it, then you start to, you start to see results. And those results only continue to grow because you get the learnings from the platforms and the algorithms that start to help inform your decision.

Josh Allen: 12:00

Yep. It's almost like a double edged sword with digital, everything can be measured and tracked so efficiently now that the expectation is increased. And that to your point time, the window has almost shortened in a lot of ways from an expectation standpoint versus, you know, old traditional media, it's, you know, we run a TV spot, we get some data, we feel like sales, there was a lift, and you know, it's a success. So I think that that's a great point you make and that's something we are constantly educating on is give those campaigns and that media time. There's always a learning period. And ultimately, if the strategy is sound, the results will will come along as well. So really quickly, let's talk IFA 22. We're going to be in San Diego, and honestly a little over a week, which is hard to believe the first time on site since 2019. In Florida. I know you're obviously very active in the IFA, and a number of committees What what are you most excited about? What are you looking forward to? What stands out to you for IFA this year?

Liane Caruso: 13:01

I personally am so excited. I think just feeling the energy, especially on LinkedIn, and with you know, everybody is just so excited to just be back in person with each other, just reconnecting with colleagues and friends. And we all also met a ton of people online in the last couple of years that we've actually never met in person. And I think building those connections in person is is what probably what I'm most excited about. IFA always has great content. Definitely looking forward to the annual leadership conference on Saturday. That's one of my favorite parts of IFA, and then I, I would be remiss if I didn't say I want to see Shaq, but

Josh Allen: 13:42

no, I'm excited for that as well. I think the dog is excited for Shaq. It's hard not to Yes. Yes. He's a charismatic guy. I'm looking forward to that one.

Liane Caruso: 13:52

Yeah, I have seen Shaq in person and you have Yes, and I am 511 and Jack, I felt like forefoot to when I was walking by him, so I'm excited for all of that.

Josh Allen: 14:05

Nice, nice. Yeah, it's gonna be great. And I couldn't agree more in terms of you know, your your point about every there seems to be that energy. People are excited to be back in person and doing business in person. I think we've obviously all adjusted the remote life and there are benefits to be had. But it's hard to replace that kind of face to face connection with so many folks and franchising being the tight knit community it is it almost feels even more excitement around this year's convention and certainly in years past. So, other than that, I think kind of final words, you know, we've talked a little bit looking forward. You mentioned the franchise 500. As we go ahead into 2022. Where can franchisors or entrepreneurs how can they find you? Where should they start? Whether they're veterans in franchising, or they're considering franchising? Where is a good place to start with entrepreneur?

Liane Caruso: 14:57

Yeah, I think first and foremost, if you You're a franchise brand we have listings on our website, please just make sure you have your free listing, then you could submit for the franchise 500 which we put out this the qualifications and the form out in June even if you submit to the franchise 500 And you don't make the list or you don't necessarily need those exact qualifications, you do qualify for other lists that we've put out throughout the year like new and emerging top global multi unit diversity which is going to be a new one cut franchises for veterans top food franchises and so on. So we have we have other opportunities for you to really shine if you're not quite in that space yet, but we want as many people to submit for the franchise 500 as possible it helps us get get a lot of data to for franchising, franchising as a whole so we can produce better content and be a better industry partner to everyone. We also have in addition to the entrepreneur, social channels, we have new franchise 500 channels, social channels, which are solely dedicated to franchising and so we're on Facebook, Twitter, LinkedIn, Tik Tok, Snapchat, Instagram or Pinterest or kid.

Josh Allen: 16:11

Do you have a Pinterest?

Liane Caruso: 16:13

I don't think we have a Pinterest board. Yeah. trying our hand at TIC tock and you might see us shooting some videos at IFA. We have a we have a lot of fun doing that. So awesome. Yeah, happy to connect with anyone. Just head over to entrepreneur.com type in franchising and you'll find a whole bunch of great stuff.

Josh Allen: 16:31

Awesome. Well, Leanne, thank you so much. Leanne Caruso, Senior Vice President at entrepreneur media, you can find her on site at the IFA convention at the end of this month in San Diego. I'm looking forward to connecting with you. They're excited about the year ahead, excited about franchising and really appreciate you sharing your thoughts as we look forward and hopefully make it a great year for all. So with that, that wraps up this episode of digital Shop Talk. Hopefully, we will see you all back here really soon. Other than that, LeAnn, thanks again. We will talk to you soon as well.

Liane Caruso: 17:05

Absolutely. Thanks for having me and see you at IFA.