Improve Your Web Presence to Improve Company Value

If you’re thinking of selling your business, your job is to make it as attractive as possible to a strategic or financial investor. And one of the first things a prospective buyer will do, as part of their due diligence, is check out your website and other social media assets.

What will they see? What impression will they get of your company?

A modern, professional site that presents your products or services in an effective way is more likely to lead to a higher purchase offer than a site that’s old, outdated and inaccurate. Bad website design, outdated aesthetics and low usability are major credibility killers.

A website is part of the intellectual property of a business. It is also an intangible asset, an advantage that can be just as important as bottom-line profits. A company that is well-known in the community, with a good reputation and a long list of customers naturally carries more value than a newer business with similar earnings.

Here's how – and why – a professional website and online marketing can help you sell your business for more money.

1.     Positive First Impression

If prospective buyers are primed to look at you in a favorable way, they are more likely to look at other factors favorably too (this is called the “halo effect.”) Also, a well-done site shows that you take your reputation and customer relationships seriously.

Note that nearly 2/3 of Internet usage is on a smartphone; your site must be easy to use on a mobile phone and pass Google’s mobile-friendly test. (Don't assume that passing Google's test means your site is easy for a person to use. One is judged by software; one is judged by people. Not the same thing.)

2.     Move-in Ready

If your site is up-to-date, doesn’t need major content or functionality upgrades, and especially if it's easy for the new owner to edit, that’s one less expense and one less hassle a buyer needs to worry about immediately. One less barrier to the sale.

3.     Measurable Data

A website (and digital marketing) with proper tracking offers measurable data about traffic and sales.

If you can demonstrate growing numbers of site visitors, more purchases, higher search engine rankings, and so on, that objective proof is a strong indicator of company potential.

4.     More Customers

A solid website (and marketing) can increase customer numbers and diversity. If your website is easy for customers to find and functions well as a marketing tool, you’ll get more customers.

You can also strategically refine or diversify your marketing to acquire different kinds of customers, sell different types of services, or expand into under-served areas, all with the goal of making your business easier to buy.

Think of it as a "value accelerator" that makes your company very attractive to your ideal buyer.

5.     Improved Cash Flow

A corollary to the above point. More customers, more money.

If you're making site and marketing improvements far enough in advance of the business exit, you can also be reaping the benefits of increased leads and sales.

6.     Transferable Growth Strategy

If your site and online marketing plan is systematized and documented, that proven growth strategy that can be transferred to the buyer. Much of marketing involves trying to figure out what tactics and messaging is going to resonate with prospective customers. If you’ve already figured that out and have it written down, that’s a huge benefit to a potential buyer.

7.     Reduce Owner Dependency

A website can help shift the “business goodwill” from the current owner to the brand itself.

Are prospective clients always asking for "Joe" when they come into the office or call the company?

Then a re-brand is in order, and that needs to be visible online. Doing so reduces acquisition risk by making customer acquisition less dependent on the owner or other significant figure.

8.     Highlights Experience

A website can highlight the experience of the management team, reassuring the prospective buyer that professionals who understand the company and how to run it are in place.

When to Start Making These Improvements:

The sooner the better. If you already have a website that’s appealing and easy to update, go ahead and change the site to demonstrate additions to staff or upgrades to services while you’re in the process of looking for a buyer.

If you can afford it, don’t just improve your website, boost and refine your marketing too. Making improvements to your search engine rank and conversions (more calls, more contact requests, more email signups, more sales) will benefit you short-term and demonstrate growth potential to a buyer.

Many small businesses don’t have significant marketing budgets. And circumstances may mean that you need to sell your business quickly; you don’t have time to develop new marketing campaigns or SEO.

Still, making an existing site more appealing, mobile-friendly, and functional is an investment that should pay off. You may be able to give your site a “fresh coat of paint” without a full content or marketing redo.

Who to Hire:

Bring in a digital strategist/team who understands WHY you’re making these changes. It makes a difference in what we recommend that you do, why we suggest certain strategies, and how we maximize your budget.

If confidentiality is important to you and you don’t want your friends or employees to know that you’re thinking of selling, consider hiring experts who are not part of your local community.

Hiring an external person/company to manage your online marketing, even on a short-term basis, may also make it an easier transition for the buyer. You can bring in an online expert to manage online value acceleration for you, even if you've never used anyone other than a web developer before.

Summary:

Effective use of websites and digital marketing can demonstrate growth potential and value to a prospective buyer. It can show that your company isn’t just a good one, it’s a great one – worth buying! Improve your website and online marketing if you want to sell your business more quickly, for more money.

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CONTACT DIANA RATLIFF:

My team and I have more than 20 years of experience with web design and digital marketing, including positioning companies to be acquired.

We can help business sellers directly (ask about an Online Review!), or partner with Business Brokers, Business Intermediaries, or Exit Planners.

Go here for more info >>> https://www.searchworxx.com/exit-planning-digital-strategies/ or contact me through LinkedIn.