Task
Abbot Copier Engineering was small company providing photocopiers and proactive servicing. The MD wanted to grow the company, attract potential buyers and eventually profitably sell the company
Strategy
The first stage was to identify a marketing strategy, in particular identify the differentiators that made the company stand out from the competitors in a very competitive market. These differentiators were issued as a consistent basis for messages and to direct the tactics in finding new customers.
Direct competitors were identified as long term potential purchasers of the business.
Tactics
For the first few years a range of marketing tactics were used to help drive sales. This included items like an active website, proactive local marketing, eliciting support from the manufacturers, holding local road shows, local visible branding, regular customer and prospect contact, and direct marketing.
Results
The company turnover increased over 45% year on year. Sales with on-going revenue were particularly focused on, as these would result in a higher price for the company on exit.
The exit
Two years before the sale of the business the marketing was extended to subtly start raising awareness amongst potential purchasers. The targeting plan included always being talked about by the manufacturer at European dealer conferences, being seen in competitors’ areas and providing the MD specific messages when meeting competitors. Documentation, including a prospectus, was put in place before any contact with potential purchasers.
As a result, two unsolicited potential purchasers approached the company interested in buying the business. This caused competition between them, resulting in a higher final sale price with an agreed exit plan for the MD.
Client response
“We used Phil for several years to run our marketing programmes. As a small, but growing, company we needed someone who could provide creative marketing on a flexible basis. Not only has the relationship helped considerably in our recent success, but also his open and supportive attitude has helped us learn more about the role and implications of marketing.
I am very happy with the resultant sale price for the business which could not have been obtained without Phil’s help. We are delighted to recommend his expertise for growing businesses.”
MDO – Abbott Copier Engineering
Advisor: Phil Taylor – HCBA