For any business, no matter the industry, there's a component of sales - but managing customer satisfaction, the introduction of new products, while managing a successful marketing campaign can be a difficult task for anyone.
Nonetheless, there are two main elements to marketing every business person should understand. The business growth techniques are referred to as inbound and outbound marketing.
The outbound method can include anything from hard-copy newsletters to online marketing. It also refers to traditional marketing outputs such as TV, print, and radio ads.
Each method has its pros and cons, however in the age of technology, digital outbound marketing can allow you to specifically target your key market, and ensure your message is delivered to the right person at the right time, to maximise the impact.
There are a range of low touch and high touch online marketing strategies that will help improve the sale value of your business. Having a well-constructed digital marketing strategy in the lead up to a business sale is one of the quickest and easiest techniques to increase the value of our business.
Buyers want a business with established sales funnel and robust marketing strategy. Without it, investors will reduce their valuation of the business.
Effective outbound digital marketing strategies include:
Benefits of outbound digital marketing include:
Your business valuation will be impacted in the sale of your business if there is no clear digital marketing strategy in place. With an active marketing strategy, your valuation will benefit from:
It's important to know that if customers are already known to the current business owner, they can be difficult to retain once the business is sold. For this reason, buyers typically seek and pay more for a business that actively invest in broadening customer reach while sustaining a healthy online presence.
A good digital marketing campaign increases business visibility and engages new customers, subsequently lifting its revenue. Maintaining a competitive edge during the sale of your business can catapult the value and add to the brand's authority. This ultimately makes for a safer, more attractive investment for buyers.
DIY – typically $100 to $2,000 per month
Internal – typically $4,000 to $8,000 per month
Agency – typically $5,000 to $20,000 per month
At Nash Advisory, we understand the challenges of managing your own outbound marketing strategy, having implemented it ourselves for our business over many years.
Eventually, we found that an external agency was able to provide sophisticated tools and strategies to assist us to continue to develop our business and attract new markets.
As a result, we have advised many businesses on the importance of a digital outbound marketing strategy and guided them towards achieving their goals pre-sale. To find out more, contact the team at Nash Advisory.