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Unlike marketing to customers, marketing your business to potential buyers is a whole different ball game. It takes discreet marketing skills to successful promote your business to the right buyer without alerting employees, suppliers and competitors.
Here’s 3 key tactics for marketing to business buyers:
Know your ideal buyer (your target audience). Get the specifics on who you’re trying to target. This may include buyers who already work in your industry or have specific credentials. They may need a certain level of credit or financial standing. You may even be considering selling to another company or investment group.
Select the best marketing channels to reach your target audience. This is where you think creatively and strategically of the best way to get in front of them. You may want to place a blind ad in local print and online listings, or a local trade publication. You may even want to work with a business broker who has experience with niche industries, such as yours. You may also want to build your relationships with your accountant or attorney – such relationships may give you the ability to explore confidential inquiries from competitors or suppliers who are interested in an acquisition.
Create an impressive business for sale ad. It’s essential that you develop an ad that grabs the attention of potential buyers. You’ll need to strike a very careful balance between offering too much information and not giving enough information while still piquing the interest of potential buyers. Be as concise, specific and professional as possible in presenting your business. Include a strong headline and high quality, attention-grabbing stock photos that accurately reflect your business. Don’t skimp. A great business for sale ad can make all the difference in attracting qualified buyers.
Just like marketing a business in general, marketing a business for sale takes research and planning. Sellers who are well-honed in these processes are well on their way to finding the right buyer for their business.
“Best-practice marketing approaches and tactics reveal nuanced differences between these two audiences.”