In an economy where quick wins and short-term marketing strategies often steal the spotlight, a more patient and longer-term strategy is necessary for business owners with an eye on the long-term prize – in this case, growing and developing your business as part of an exit strategy.
The journey from growth to exit is not a sprint; it’s more like a marathon that requires foresight, endurance, and a well-crafted marketing strategy with the resilience and strength to deliver consistent results in varying economic conditions. In this article, we’ll look at the essence of building a 10 year plus marketing and growth strategy as part of a successful long-term exit strategy.
The Foundation – Building A Market Strategy Around Your Long-Term Vision
For most business owners and entrepreneurs, a well-planned exit strategy is central to their dream of building a successful company. Whether the long-term goal is to sell the business profitably, pass it on to new management, or transition into a new role, the exit process is a significant milestone in your career that requires careful planning.
However, the groundwork for this momentous step is best prepared years in advance, in order to develop value in your business to maximise the value of any sale. A common approach to pre-exit growth is ‘binge sales’ in the two years or so prior to selling the business, amplifying investment in marketing and sales so as to build the business order book is quickly and strongly as possible.
Unfortunately, a flurry of new customers is no indication of the long-term growth potential of a company, and most canny buyers will see through this ruse. Ultimately, if your business has the capacity to grow in the final two years, then you lose nothing by investing in growth now. Spending money on sustainable and consistent growth in the 10+ years before your planned exit is the best way of demonstrating the market viability and value of your business model.
Marketing For Sustainable Growth
The great thing about digital marketing as a growth tool is that it can be used for both an immediate sales boost and lead generation, getting new customers through the door, and longer-term growth strategies, centred on customer retention and brand extension. This is because marketing is not simply a tool for promotion – with the right approach, it can also become a fundamental driver for business development, customer engagement, and market positioning that directly impacts your business’s value and attractiveness at the point of exit.
Sustainable growth entails building a sustainable competitive advantage in your niche.
This will involve identifying and capitalising on your unique selling propositions as a business, and conveying these effectively to your target audience. This goes beyond short-term promotions and sales messages, and seeks to strengthen your brand identity through consistent messaging, brand positioning, and storytelling over time. By differentiating your business in this way, it will be easier for you to attract and retain customers over the long term, with a higher average customer lifetime value, and a lower acquisition cost for both new leads and customers.
Innovating And Adapting To Market Changes
The only constant in business is change: markets evolve, customer preferences shift, and new technologies emerge. However, many business owners approach marketing as if their business and the economy they move in are going to remain the same. When investing in long-term growth, this is a mistake. Businesses that regularly adjust and update their marketing strategies in response to market feedback and trends, as well as their own successes and mistakes, are better positioned to maintain relevance and competitiveness over the long haul. Regularly review your product offers, the marketing channels you use, and your customer engagement practices to ensure that your company remains at the forefront of your industry, making it more attractive when the time comes to sell.
Balancing Short-Term Wins With Long-Term Goals
Short-term profitability and long-term consistency are not mutually exclusive goals. Both are important. By building your digital inbound marketing strategy around both your current and future priorities, you’ll gain the flexibility to meet your immediate goals while steadfastly investing in long-term marketing capital to secure your future. This dual approach helps secure a steady revenue stream when you need it, now, while also building the foundations for a lucrative exit.
Next Steps
To find out more about the role that marketing plays in long-term growth and exit planning, please get in touch with one of our specialists today by clicking here.
