Develop a Clear Marketing Plan
Before implementing any strategies it is beneficial to develop a marketing plan. This will allow you to pinpoint the prospective buyers your business may attract, and start marketing the business to them. For example, young pub landlords, first time business buyers and retired pub owners are all different types of buyers who are buying for very different reasons. Putting yourself in the shoes of your potential buyer will be helpful here.
Once you’ve worked out what type of person will be willing to invest in your business, you can start to develop ways to put this into practice. In short, this will involve using a range of communication channels, with the help of an experienced business broker.
Identify your Unique Selling Point and use it in your marketing plan
No two businesses are the same, and there are many reasons why buyers will choose yours over another business. Identify the businesses unique selling point and shout about them! Testimonials are powerful too. Start by thinking, why would they want to choose your business compared to others? This will allow you to identify your potential USPs.
Use Effective Storytelling
People love stories so creating personable content that taps into emotions and resonates with your target buyers is so important. Try to tell the story of your business and the people who run it to make it relatable. Maybe start with how you built the business from the ground up and why you wanted to set it up. What caused that burning passion inside you that made you want to start this venture in the first place? All of which will be encouraging and inspirational for potential buyers. Make sure you emphasize this and it comes through strongly in your marketing strategies.
Share Stories on Social Media
Every business needs a social media presence, particularly as the digital world is constantly growing. Whether you run a small business or a national one, social media presence and engagement is essential for growth.
Social media platforms like Facebook, Twitter and LinkedIn can help you connect with your customers and potential buyers, increase awareness about your brand, and in turn, boost your popularity. Social media is also great for sharing and nurturing authentic conversations. These conversations create business awareness and can lead to strong relationships if developed over time.
Use Search Engine Optimization (SEO)
SEO is one of the most popular marketing strategies out there because it is extremely effective. The results of SEO take quite a long time to take effect, but it is worth the wait. In short, SEO is the process of improving your website and online presence, both on-page and off-page to improve its rankings in search engines like Google. If your website appears on the first page of Google Search results, it is likely to be seen as an authoritative and credible website.
Create and Verify a Google My Business Profile
Google My Business is a free service designed to promote local businesses online. It’s a tool which enables business owners to manage how they appear online across Google and make their business stand out. The other benefits include:
- Allows you to appear on maps and local listings.
- Allows customers to leave reviews about your business and services.
- Allows you to add posts and images relating to your business.
A verified Google My Business profile enables a business to appear more credible and trustworthy online. Therefore, it increases the likelihood of attracting a potential buyer.
Get listed with a business broker
Another important step is getting listed with a business broker. Brokers will act as the go-between the buyer and the seller, helping to bring the two parties together. For business owners inexperienced in selling a business, this may be extremely beneficial. A business broker can also help you get the visibility you need to reach buyers. For example, if you’re the owner of a local cafe business, listing your cafe for sale with a business broker, such as Hilton Smythe, can help to get it the exposure it deserves – they go above and beyond to help market your business for sale and get in front of the right audience and prospect buyers, they have the right connection and marketing channels already in place to help so you don’t have to worry about it!
Selling your business can be a lengthy process, but following these steps will enable you to choose which combinations of marketing strategies you can implement. This will allow you to market your business successfully and reach out to that perfect buyer!
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