California Business Broker .com: Marketing Strategies
You may have noticed, that on California Business Broker .com, we reference marketing in several different areas. Here we will discuss our marketing strategies and why they are so effective.
Our philosophy regarding the marketing of businesses. How a business is marketed - how, to whom, how often and how creatively - will often determine if a business sells or not. We believe that the marketing effort is the most important factor in the sale of the business. Please note, that the other elements are also very important. The pricing, negotiation, deal structuring are crucial. However, a majority of businesses never ever reach the latter stages of the sale. Two thirds of businesses NEVER sell at any price! Business brokers wear many hats, but we are hired to find buyers. Your CPA can keeps your books. Your lawyer can review the paperwork. Your broker is the one who find s a ready willing and able buyer. In many ways we are in the marketing business.
TRADITIONAL / OFFLINE
We utilize all of the traditional methods of marketing businesses for sale.
Cooperating Business Brokers We will cooperate with any professional business broker. I am member of the VR network. Once your business is listed, hundreds of brokers and their buyers get access to your listing.
Direct Mail When appropriate we will send "blind" letters to potential buyers to see if there is an interest in an acquisition.
Advertising We often place ads in trade journals, magazines, newsletters, etc in order to reach a targeted pool of buyers.
We have successfully implemented many new and innovative method to reach potential buyers. We live in an online world. You are searching for a broker online right now. The vast majority of buyers turn to the internet when seeking a business to buy. Being able to harness this power and use it effectively equals results.
SEO Each one of our listings is search engine optimized. (SEO) What is this? Yahoo, Google, Ask, Msn are search engines. You type what you want - the results come up. (Google controls 50% of the search volume) The business for sale websites are not search engines but they live off of traffic generated by the search engines. If they had no traffic then nobody would pay to list a business there. Therefore, they compete to rank high on the search engines. If you were to go to google and type in "gas station for sale California," www.bizben.com would be at the top of the list with a listing. Bizben.com is very good at this and thus we get many inquiries from Bizben. The concept of SEO is for your listing to be at the top of that list.
We have invested in a unique and powerful tool to optimize our listings. This tool allows us to see which keywords people are searching for and thus we feed those words into our listings. A simple example: Last week there were 750 unique searches on google for "restaurant for sale" BUT there were 2850 unique searches for "restaurants for sale." The key is to mix in the keywords that people are searching for AND to have your copy please the reader.
Thus my listings consistently get more traffic then standard listings.
Online Copy People read differently online. They scan to see if what there looking for is present. It is vitally important to write effective copy that catches people's eye when your listing is on the page. Listings need to quickly answer the WIIFM questions that buyers have. (What' s In It For Me) If you are selling a manufacturing business in the Inland Empire - your copy needs to be radiant and pop off of the screen. We have about two seconds to capture the attention of the potential buyer and get that *Click*. I track the click though rates - then analyze and adjust as needed.
Strategic Use of industry specific, E-newsletters, forums and mini-hub websites When representing clients we have had phenomenal success using these resources to connect with strategic buyers. The buyer for your business may not be in your state but they are most likely already in your industry. Think about it, in your industry, there is probably an online community that addresses your business. For certain types of businesses, the appropriate buyer is not looking on the business-for-sale websites. The right buyer could be a competitor, a larger business or a similar business that is in a different geographic location that desires to have a California location. In these situations thinking outside of the box and being proactive make all the difference. Since it is online, one click and they are at my listing and reading about your business for sale.
Exposure to Private Equity Groups & Strategic Investors For clients whose business would be a good candidate for a buyout, I have the ability to expose your business to these key decision makers.
More information about Private Equity can be found here.
Our e-newsletter Each month we send my e-newsletter to buyers who are seeking a business to buy. We typically get a good response and since it is email it can be forwarded to other potential buyers. We have strategic buyers, investors, cooperating business brokers and private equity groups as subscribers to my email list.
Internet Presence To be honest, we have invested more time and effort into a website than most brokers. This is because we feel that it is a powerful medium. Fortunately , my effort has paid off. We now have an extremely well trafficked website on par with some much larger brokerages. Your business is featured here instead of mixed in with hundreds of others. This website is in the top five search results for Yahoo, MSN, AOL, Ask, etc. I have devoted a great deal of content to the process of buying a business. Why? To attract buyer to my site. This way I both educate them about the process AND showcase the businesses I represent.
Video An example of a video I produced for a client is below... I create video listings and disburse them to screened candidates. Almost instantaneously a buyer can get a good feel for your business - understand what you do , how you do it and what it would be like to own your business. A video can describe your business in much greater detail than writing. In some cases it can get a buyer more involved than they would be otherwise.
Take a look at my Example Video
Each Listing gets its own password-protected web page. Once a signed NDA is on file the potential buyer is emailed the password. The buyer can log on and instantly have view the business profile, financial documents, equipment lists and the corporate video. When selling businesses it is important to "close the loop" as soon as possible. The goal is to get the buyer the information that they need AND to prompt them to take the next step - meet in person. With this system, the entire process from the buyer's first contact to the buyer having all the information then need can be as little as a few minutes. Additionally, this is a fantastic way to easily give overseas buyer and out of state buyers access right away.
Click here to View an Example of a Business Profile that I would create for a client
Click here to take a look at my listings page
These strategies work! We would not invest the extra time and effort if they didn't!
If you would like to know more then contact us. Let us learn about your business and develop a customized marketing plan to get your business sold!
Would you like to know more? If you are a business owner and are considering selling your business, let us craft a unique marketing plan for you.
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