Better Marketing for Your Business Sale: Tips and Tricks
In order to maximize the value of your business sale, you basically have to become an expert marketer. And unless the company you’re selling is a business brokerage, chances are you lack the required skill set to pull off a smooth, successful sale — especially if you attempt to do it by yourself.
Of course, all these hurdles disappear when you work with a qualified business broker. Their team will have the experts needed to plan and execute a successful sale.
However, there are a few things you can do to make the sale easier for you and your broker. With that in mind, here are eight helpful marketing tips and tricks when selling your business.
Think About Your Target Audience
How you and your business broker market your company will depend on who you’re targeting to buy it — whether it’s a business owner, competitor, family member, employee, supplier, or private equity firm. And who you sell your business to will depend on how you want your company to carry on after you’re gone.
Sell Your Company Within Its Description
Write a compelling overview of your company’s value proposition to attract the right interests. This company description will be part of the selling memorandum delivered after serious buyers have signed confidentiality agreements. It should include:
- The name, location, and history of your business
- Your company’s mission, vision, and values
- Your products and services
- Your target market
- Strengths, weaknesses, opportunities, and threats
- Financial performance and projections
- The value of your business and your asking price
Sunbelt Business Brokers can help you prepare an outstanding company description. If you’re considering selling, start by taking our business valuation calculator for a spin.
Presentation: Invest in Photography & Visuals
Paying for professional photography and other graphic materials isn’t necessarily cheap, but it’s worth the investment. You need to present your business in the best light to get the best price.
Is Your Website Engaging?
As with your company’s visuals, having someone turn your website into a magnet for potential buyers might cost you a bit. But remember, you’re looking to showcase your business and make it stand out from your competitors.
Invest in Online Advertising
Where you advertise online will depend on the nature of your business, but buying digital ad space is a good way to reach many potential buyers at once. Consider advertising on websites and social media accounts for business listings, news, or a specific trade.
Network With Potential Buyers
If you want to find potential buyers, you may need to go where they are. You can network with prospects at trade shows and industry conferences, local and online conventions, and business group events, such as chamber of commerce meetings.
Emphasize Growth Opportunities
Buyers want to see that your company has a future. Show them the opportunities for growth by:
- Providing realistic revenue and profit projections
- Highlighting your strengths and competitive advantages
- Demonstrating your successful lead generation strategies
- Showcasing potential expansion, diversification, and innovation
When selling your business, your first priority is to protect your company. As such, this type of marketing will come after confidentiality agreements have been signed.
Gauge Customer Loyalty via Testimonials and Reviews
Online testimonials and reviews have become standard marketing materials for many businesses. You can demonstrate customer loyalty — a hallmark of knowing your business is ready for sale — by highlighting positive customer experiences.
Let a Business Broker Market Your Company
As you can see, there’s a lot that goes into the successful sale of a business. And if you’re not careful, it’s easy to get overwhelmed and miss something crucial. Thankfully, the whole process is made easier when you work with business brokers like Sunbelt Business Brokers. These professionals can take the burden of marketing and selling your business off your shoulders while you focus on managing your operations and adding value to your company.
If you’re considering selling your business, Sunbelt Business Brokers has the knowledge and experience to oversee the deal from initial consultation to closing. Get in touch today to learn more about how to market your company for sale.