As a small business owner, there will come a time when you will decide to pack up and sell!
When it comes time to sell a business, whether it be because of financial reasons, family reasons, retiring or you are simply looking to start a new chapter of your life, selling is more than likely going to be a road you will eventually go down as a business owner.
As you prepare to sell a business, it’s in your best interest to get creative with different marketing approaches. Don’t just stick a sign in your shop front window and hope for the best. Participate in multiple marketing techniques. The more irons in the fire, the better. Get out there and see what works in the current market.
The last thing you want to happen is see your business for sale listing sit there while generating zero leads and enquiries. This is not only depressing, but is costing you money.
Innovative and unique marketing tactics can lead to:
- A quicker sale;
- A higher purchase price;
- More interest;
- More revenue in the short-term.
- Business broker interest
Your creative marketing approaches will generate a buzz of interest and ultimately entice customers to check out your business and you can find ways to turn that extra interest into more revenue.
There are plenty of fun and interesting ways to expose your business to a larger audience with the goal of selling your business faster.
Spreading the Word
Word of mouth is one of the oldest and most effective forms of marketing available and you can use that to your advantage when selling a business. Family and friends is usually the first port of call.
Trusted business people and customers can also help spread the message that you are selling your business. This could significantly increase the number of inquiries you receive as this type of ‘word of mouth’ marketing would be considered a very trust worthy source.
Some other effective techniques to get people to help promote your business selling venture include:
- Having customers share testimonials about your business online;
- Put professional posters announcing the sale of your business on the walls of other businesses.
- Advertising the sale of your business on other websites (business for sale website in particular);
When people see that a reputable business they respect is endorsing the sale of your business, then that adds a strong sense of legitimacy and authority to your brand and opportunity. It is the kind of marketing that is hard to buy, but it is very effective when you have it.
Social Media Marketing
Social media marketing is a method that cannot be over looked, especially if you already have a decent following via your personal or business social pages such as:
- Google +;
Promoting your business on a weekly basis will allow your connections to see your advertisement in real time, usually right from the palm of their hands (smart phone, iPhones, iPads, etc).
You can also interact with any potential buyer via social media in real time, answering any questions they might have and encouraging further enquiries.
Other benefits are:
- Brand Recognition;
- Brand Loyalty;
- Increased Conversions;
- Brand Authority;
- Customer Insights.
Use Attention-Grabbing Marketing Methods to Sell a Business
To some people, attention-grabbing methods can seem like unnecessary gimmicks. But the truth is that methods that grab the attentions of a prospective buyer and will also get them talking, which is exactly what you want.
For example, if you hire people to walk around town wearing sandwich boards advertising your business for sale, then that will create chatter that can reach people who would be interested in making you an offer.
Don’t be afraid to try something unusual and different, it just might be the winning ticket!
Become Active In Community Events
If you start sponsoring community events, then people will start to see your business in a very positive light.
While this is an effective way to increase revenue during growth periods of your business, it can also be an extremely effective way to attract people to buy your business.
Once again, it is marketing methods like this that get people talking and spreading the word about the sale of your business to those who could be interested in giving you a call.
Make Your Ad Part Of Movie Theater Advertising
Millions of people around the world go to the movies each week and that includes the large throngs that go to movies in Australia. Prior to each movie, theaters show a loop of advertisements that are seen by a huge number of people.
A unique and catchy way to improve your chances of selling your business would to be to get your business listed in that loop and have all of those people see your ad before they enjoy the movie.
Below are some rates you can expect to pay for this type of advertising:
Duration Rate Per Week
15 second – $230
30 second – $280
45 second – $420
60 second – $560
90 Second – $840
Longer length – Price on application (www.valmorgan.com.au)
I have personally used this technique and it is extremely effective.
Get Your Marketing Mobile
When you walk or drive around town, you are bound to see buses, bus stations and train stations with advertisements on them, otherwise known as moving billboards.
The reason you see them is because they are catchy advertising methods that grab your eye and they are hard to miss.
When you are selling your business, you should rent some space on these moving billboards and really get people’s attention.
If this type of marketing is of interest to you, check out the sites below for more info:
Going the Extra Mile
The more marketing you do to sell a business, the more offers you will get and the more money you will make. A business valuation is also a great idea to back up your position and will increase your capital gain.
When you can find catchy ways to market your business, then you can create a buzz around town that will bring more sellers to your doorstep.
Prepare your business to be sold and then start investing in some unique marketing methods to help you get the best possible return on your investment.