Calculate Your Website’s Worth
Before you can decide on the right marketing approach, you need to know your website’s worth. In order to do this, you need to take the following factors into consideration:
- The annual profit of the website
- Overall sales
- The growth of the business to date
- How scalable is the business
- The position of the business in the market
- The processes and systems in place for the business
This is the information buyers will require when making their decision. Rather than being blindsided when you’re selling your website, it is important you have all of this information ready. It will allow you to determine your website’s market value and the asking price so that you know exactly where to market it and what approach to take. Some platforms set specific values to market a particular website, making the above information invaluable.
Shape Up Your Website so You Can Market it Better
There is always room for improvement on your website, even if you are at the top of your industry. If you want to get the best deal for your website, you need to get it in shape before you sell it. There are different ways to do this:
- Have it optimized for search engines and mobile devices
- Have different avenues from which traffic and leads it generated
- Improve the conversion rate of your website
- Further, strengthen your brand in the market
- Make the website user-friendly and easy to navigate
You want to make your website appeal to the buyer. The best way to do this is to ensure that it is profitable and has a strong foothold in the market. Otherwise, your website won’t seem like a smart investment. If you aren’t sure where to start, firms like Kingmakers can help you make the most of your business before you plan to sell it.
Marketing the Right Way for Selling Your Website
To turn the sale of your business into a profit, you need to do more than just pick the right selling platform. You need to market it correctly. You already know the value of your business, and you ideally want to get more than that valuation. The right marketing can help you get there
This is where the potential of your business and how it has grown since its inception becomes valuable. You need a data-driven marketing approach that focuses on what your business has accomplished and how much more it can grow. Look at your market share and get all the projections ready for the next 5 years, if possible. This will be your key to getting the best deal for your business.
Here are a few more tips to keep in mind when marketing your website:
- Don’t set an unrealistic price. While you want to get the most for your business, you don’t want to scare potential buyers away by asking for too much. This is a sure-fire way to drive interest away—even from buyers looking for exactly what you are selling.
- Make sure your information is accurate. The information you collect, from annual sales to business projections, needs to be as accurate as possible. You don’t want to give false information to potential buyers because they will have done their homework. Many times, it is easy to catch false information, especially when small and medium businesses claim to be the next Facebook by providing false projection and sales information.
- Pick the right platform to market your site. To get offers, you will need to market your site of different platforms that are all right for your business. You can market websites on auction sites or marketplaces. Auction sites such as Flippa are ideal for businesses that are valued under $20,000, while marketplace such as BizBuySell is suited for those valued up to $100,000.
- Highlight your business growth. You need to have a great marketing pitch to gain interest in your site. This starts with how much your business has grown since its inception. Make your growth the main focus of your pitch and back it up with the annual sales figure. This will help solidify your business projections for years to come.
- Word of mouth marketing. Be sure to let friends, family, and others in your network know that you are willing to sell your site. You may even get some interest from those within your network.
How you market your website plays a vital role in selling your website, notably in the interest and price you get for it. Therefore, you need to make sure your website is in top shape and you have a data-driven marketing approach. This will ensure you make the most profit from the sale of your website.