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How to Use Your Marketing Budget to Facilitate a Successful Business Sale
Spending resources, time and money on a marketing campaign is critical for a successful sale of your business. Marketing lets you get the word out that your business is for sale and when a campaign is carefully crafted, with a little bit of help from experts, it can end up being wildly successful; resulting in hopefully substantial profits for the seller.
Firstly, sellers should attempt to put themselves in the buyer’s shoes, speculating on what the buyer will be looking for when they proceed to make an offer. The seller can then incorporate these factors into the resulting marketing campaign for selling their business successfully. Spending money on a marketing campaign can help the seller attract more buyers, create more competition and achieve a better price in the end.
Utilise the Services of a Business Broker
LINK’s experienced team of industry specialist brokers have in-depth understanding of the market, helping you to attract potential buyers and save you time. Being a successful business brokerage, LINK has a qualified database of current interested buyers, which means they may be able to match you quickly with people apt to buy your company. Brokers also have experience creating successful marketing campaigns, which means you spend less time on a trial and error approach and more time doing what is known to work.
Create More Competition
A carefully crafted marketing strategy that includes specific advertising methods and a schedule for different advertisement mediums should be implemented as part of the overall plan for selling. A marketing strategy which is well thought out and planned may help create more competition for the sale of your business, potentially driving up the sale price.
Achieve a Better Price
Targeted advertising is essential as it can prevent you from attracting the wrong people and wasting time and resources. Spend the time and money necessary to ensure your ad copy is sharp, concise and appeals to the specific buyers you’re trying to attract. To ensure you achieve the best price possible, make sure to use proven mediums and tools run by reliable operators, including:
- Newspapers or other print mediums: consider the readership and the areas the newspaper targets, such as whether it’s New Zealand-wide or just a particular region
- Internet: when using sites that list businesses for sale, consider whether their traffic is high, what their history is like and any important credentials they have
- Databases: make sure they’re current, qualified and suitable for the purpose of selling your business
- Word of mouth: many business brokerages are well connected within the industry and have considerable success with networking
When sellers implement these components into their overall marketing strategy, it can help them drive a more favourable price and create more competition. A business brokerage service can assist with implementing marketing campaigns for your business’ sale as these experts have the necessary industry experience to ensure your quest for a buyer is successful.
With a little bit of help from professionals, you can be well on your way to striking a deal for the sale of your business that works out well for everyone.
For Further Information about this article, contact your nearest LINK Business Broking office at: