Through the years, marketing strategies have adjusted to reflect new ways businesses connect with their target market. Changing consumer attitudes and new products also require that marketing strategies adapt accordingly.
In the long run, it is critical to understand how these changes can be dealt with, especially for the sake of aiding business growth and development. Similar marketing concepts apply when it comes to selling your FBA business to interested individuals and entities. So, as you decide to sell your Amazon business, you must also understand that getting the attention of the right buyer involves the same ideas that you employ to attract customers to your products as an Amazon seller. There are, of course, some factors that differ, especially when appealing to acquisition companies.
What are some of the basic concepts to understand Amazon buyers that can also apply to selling your Amazon business?
Understand and Appeal to the Buyer’s Objective
One of the concepts of consumer psychology that directly connects with reaching buyers is to understand what they really want and how you can better meet these demands.
In the same mindset, what do buyers of Amazon businesses want? Here are some questions to consider to reflect on their concerns:
What’s in it for me and my company?
What will I get from the brand that I can’t get from another one?
What future does your business have that will benefit my investment?
These questions highlight the need to put yourself in the buyer’s shoes. In this case, it is important to answer these questions and showcase how your operation can fulfil the aggregator’s goals. Make sure you emphasize the value of your business and how it stands out in the industry.
Responding to the question “what’s in it for me?” will help guide you as you develop your marketing approach to really capture the attention of interested parties.
Level of Trust and Transparency
Every investor who acquires an Amazon business needs and wants to understand every last detail. From the products, services, and mission that define your brand to all the possible problems that it may encounter in the future. This way, aggregators are able to prepare for upcoming issues and handle them accordingly, while also taking into account other aspects of the business that can counter any negatives.
Amazon aggregators prefer to outline the possibilities of growth for their investments. This way they can properly financially plan to cover the purchase and building the recently acquired Amazon FBA business. If you are able to establish trust between you and your buyer early on, you are in a better position to get the best compensation for your FBA business, so you are properly rewarded for the time spent establishing the brand and your reputation as an Amazon seller.
Rate and Path to Conversion
Just as you, an Amazon seller, are dedicated to creating a path to conversions that will turn visitors to buyers, aggregators want to see that same path and follow it. Putting everything into record is an important aspect of doing business in Amazon, so you have a history where you can see progress and analyze data. The longer your records go back, the better it speaks to your business value, especially if these show undeniable proof that your business has a high rate and effective path of conversion. This will aid you in convincing investors that your brand is worth it.
More often than not, aggregators are interested in Amazon brands that already use well established strategies, as well as automated processes and software that make day-to-day operations more streamlined. While not all Amazon sellers use these applications and systems for sales and market research, it has been shown that those who do can often reach their target market more effectively. This in turn results in profitable results.
If you have been operating as an Amazon seller without the help of added software and automated strategies, it’s not necessarily a bad thing. However, it does help–especially in the eyes of aggregators–if you have efficient systems in place, and that your historical data is recorded to give interested buyers an idea on how successfully you handle growth and concerns.
B2B versus B2C Strategic Connection
How do you connect with prospective business partners? What relationship do you have with your suppliers? Are your B2B connections strong enough to withstand a change of management, as your business is theoretically going to be passed on to the new owner upon purchase?
How does your relationship with your business partners affect your connection to your target market? How will your target market likely react to changes that your brand may undergo?
All these questions loom over the mind of any investor before acquiring any FBA business. Being able to lay down clearly how these questions could be answered will help your buyer understand better the strategies they adapt, as they start to assume operations. To assuage the transfer from owner to owner, make sure that you as a seller communicate transparently with your business partners.
Key Takeaways
Your decision to sell your Amazon business should be planned out just as seriously as your decision to sell products on the Amazon platform.
The growth of your business from this point forward will determine the value that it has as it is getting passed on to a new owner. With the goal of remaining transparent, be sure to give your buyer a clear idea of your business history, what growth capacities it has, and how profitable it is as the aggregator engages in the buying process. To find out more about how to sell your Amazon business, the team of experienced leaders at Umbrella Fund are here to help.