Social Media Exit Strategies: The Intricacies of B2B Sales
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Building an online business is a difficult proposition on its own, but one of the key elements that many owners neglect is how to exit gracefully. Whether it is a matter of resources, planning, or general pressure to bring in income and be successful, a social media exit strategy or the possibility of selling the business is often the first aspect of ownership to fall to the wayside when things get hectic.
After all, the one common element that that many entrepreneurs share is that they don’t account for a future exit strategy during their initial planning and organizing periods. While it may seem strange to think about selling a business while in the midst of launching it, it is important to plan ahead, especially when it comes to volatile properties like social media, domains, and email accounts.
This should go without saying, but having separate social media accounts for the business is essential, along with unique secure passwords. Not only is it important to create separate social media accounts for the business, having exclusive analytics accounts as well as access to any analytics tools, social media software, email, marketing, and content management systems that are involved with or integrated into the business domain is just as fundamental.
Being able to turn over access to all properties associated with a business is one of the keys to a successful sale, transfer of property, and overall exit for a business owner who depends on social media as a marketing tactic (don’t forget to transfer the domain ownership as well!).
How Social Media Comes into Play
While account access typically covers the day-to-day end of things, it is also vital to keep user perception in mind when transferring ownership of a business. Maintaining the tone, editorial calendar, and overall style of any social media profiles associated with a company make the transition more seamless – and help sustain the firm’s value for the new owner in the form of future SEO benefits via inbound links and positive brand awareness.
If the goal is to persuade users to switch over to following or liking a new account, announcing the change early and often is key to keeping as many fans in the loop as possible. Use the email list as well as current social media profiles – a dedicated email can be quite effective.
This Australian website offers some excellent advice for anyone thinking of selling their online business and taking another path, whether that is starting another company or simply enjoying their newfound earnings for a while. What’s more, this very website covered social media exit strategies quite well last year, including the importance of old social profiles and blogs for search engine optimization.
What’s more, it is important to have a plan in place in case business social media accounts get hacked or broken into – while it may be a worst case scenario, it is important to keep these potential problems in mind when making an exit from a business with popular social media accounts. What’s more, while social media trends come and go, having a robust email subscriber list is an equally valuable asset, so it is important to ensure that existing email assets are accounted for during a business to business sale.
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