How to Use Marketing to Sell a Business While Maintaining Confidentiality
Selling a business is a complex undertaking, especially when you want to keep everything under wraps. Key details related to the transaction cannot be revealed to the public because it could change the course of your relationship with employees, clients, and other stakeholders. Yet, your goal is to reach the right buyers and get the most value for your business. It’s an oxymoron.
How can you market a product (more specifically, a business), that has no name and all its details are kept confidential?
Business brokers can find several ways of marketing a company for sale and developing an effective confidential marketing plan –the best fit for the business.
The goal of this confidential marketing plan is to highlight all unique aspects of the business without revealing sensitive information. Furthermore, it is important to first identify the right set of buyers and structure your marketing plan to get the buyers’ attention. The ideal buyer for this business could be another company, an individual, a private equity group, or other types of investors.
A key challenge of marketing the business is to determine a viable strategy that can reach the ideal buyer.
Your business broker in New Zealand will be aware of all the avenues that are well suited for your company. For example, in some cases, it may be ideal to advertise the business to the public (without sharing key details). You could use online marketing platforms, social media, printed media, networking channels, business broker's database and even pay per click marketing.
Or better yet, you can reach out to specific buyers with similar interests who may not have the intention of buying the business.
Building a Blind Profile
Most business brokers use tools that can be used to build a ‘blind profile’. This profile does not reveal any confidential data about the business but provides key facts related to the operations and performance that buyers need to see.
You can build different versions of the blind profile to reach various buyers. A blind profile contains more information than a typical public ad. It is mostly sent to prospective buyers who share their interest in purchasing the business, or after they have responded to the ad.
Advanced CRM Tools
Business brokers use their advanced CRM tools to create a comprehensive profile of their clients' businesses without revealing confidential information. Prospective buyers can use search options on listing sites that allow them to search for businesses with filters such as location, sale price, revenue, profit, and type of industry. The search for a business can be further refined by using keywords to find the specific type of business.
An experienced business broker can help you develop a business plan and make sure it reaches the ideal audience – all without revealing identifiable information. They know what needs doing to capture the attention of executives, buyers, and investors. Business brokers also have tools that allow them to determine if a prospective buyer is qualified in terms of skills, experience, financial profile, and interest levels.
Ready to sell your business for the right price? Click here to get in touch with Serdar – your friendly business broker.