If you’re the owner of a successful turnkey business then you’re in an enviable position. A turnkey business is significantly more attractive to buyers and investors due to the ease of transition and the promise of immediate returns on investment. Apart from these, some of the prominent benefits they hope to receive are:
- Low cost of customer acquisition – the new owners do not need to indulge in early marketing campaigns, as they get an already established customer base.
- Low cost of establishing technical infrastructure – just like the customer base, they also gain access to your already in-place technology, platform, database, infra-security system, payment processing modules, etc.
- Access to employees, processes, and suppliers – a turnkey business comes with minimal efforts of setting it up. Your mature processes, trained employees, and well-established supply chain, all add to the allure for prospective buyers as they can expect a seamless transition in the take-over process.
Now you know why turnkey businesses are much sought-after in the eCommerce industry. Although these are encouraging signs for you, as a turnkey business owner, don’t forget that the competition is cut-throat and most buyers are highly risk-averse. In other words, potential buyers are looking for high-performing turnkey businesses that can assure a quick return on their investment with minimal hiccups.
Whether you’re looking to increase the value of your turnkey business before selling it, or just looking for optimized performance and higher growth, here are some marketing strategies that can come to your aid and help you engage with potential customers.
Grow Your Turnkey Business With These Marketing Strategies
- Establish a unique brand identity – Online success is highly dependent on an easily recognizable brand identity that resonates with your target audience. Develop a brand message that highlights your unique value proposition, addresses people’s challenges (or meets their requirements), and differentiates you from your competitors.
- Define your target market – Identify your target audience. This may require conducting market research to understand the demographics of your customer base, their spending habits, and lifestyle preferences. Then, tailor your marketing message to their needs and preferences.
- Identify how they consume content – In order to truly connect with your audience, you need to understand how and where they consume their content. Structure your content based on the output of your market research. While the eventual objective is to generate sales, don’t be pushy in the process.
- Build an intuitive and responsive website/mobile app – Your mobile app or web portal is the first impression customers have of your business. Ensure that it is user-friendly, responsive, and has a clear call-to-action that prompts visitors to take action.
- Utilize a multichannel marketing strategy – Most successful brands engage with their customers across multiple platforms. Social media platforms are a powerful, and inexpensive, way to engage with customers and build brand awareness. Develop a prominent and regular social media through targeted advertising.
- Use email marketing – One of the most cost-effective tools is email marketing that allows you to reach a wide audience with less effort. Create newsletters or information brochures that deliver valuable content, promotions, and updates to your subscribers.
- Leverage the power of (SEO) – Search Engine Optimization (SEO) can significantly enhance your visibility and help your site appear atop the search engine result pages (SERP). The more optimized your website and content is for SEO, the more traffic you can expect to receive on your business platform. Search-bots (like the ones from Google) crawl sites and other online content regularly. By using metadata and other rich features for your content and images, you can help them discover your pages and reach a wider audience.
- Offer incentives and promotions – The eCommerce space is a competitive one. Customers can easily swap loyalties based on the price being offered by sellers. Discounts, referral programs, and other incentives can encourage customers to make a purchase or refer your business to others. But these options can never replace quality. So, first, ensure you offer high-quality products and/or services.
- Monitor and analyze your results – Marketing strategies, while mostly effective, need to be tracked and monitored. Analyze the data to understand what is working and what needs improvement. Use this information to make informed decisions about future marketing campaigns and optimize your current marketing costs. Seek direct customer feedback in the form of online reviews or email surveys and loop back the results to your future marketing plans.
By implementing these marketing strategies, you can grow your turnkey business and attract more customers. Remember that marketing is an ongoing process, so be prepared to adjust your strategy as needed to achieve your goals. Continuous improvement can only be driven, and sustainable growth only achieved when your marketing strategy is flexible enough to adapt to changes and customer feedback. Click here to know more about how to sell turnkey business.