In Axial’s shared study, they highlighted the current disconnect that many deal professionals have with their offline and online strategies. Building and maintaining relationships is essential - which is why it is almost expected that firms should be attending trade shows, develop marketing literature, etc. But why isn’t the same importance being placed on managing your online presence?
The First Step of the Deal Process... Is Online
In the study, 750 business professionals who run, advise, or invest in private businesses were asked how they use digital tools in the deal making space.
The survey results show that neglecting to manage your online presence or failing to integrate your online and offline footprints could be damaging to how potential partners perceive you — and lead to missed deals.
Three important trends emerged from the survey results:
1. The web is now the first part of the deal process.
2. Professionals are seeking digital information and connections.
3. The online world is heating up competition for the best deals.
In fact, 92% of professionals start by looking up the person and the firm online.
The data show there is widespread use of online search, web platforms, and networks when beginning or considering business relationships. Deal professionals should invest in both inbound and outbound online business development channels to capture interest and manage the information available about their own businesses.
Simply put, the web is now the first step in the deal process
No longer confined to a local market or personal networks, an overwhelming 62% of respondents in the Axial survey indicated that competition was increasing for their respective businesses. Being discoverable online is critical both to stay relevant in the face of new competitors, and to take advantage of the increased opportunity available.
It’s helpful to look at your online presence and activities as an extension of who you are and what you do offline. Conferences are a great way to create awareness and build visibility. Online networks enable you to do the same thing year-round, without a huge investment. Your firm’s business development efforts should integrate in-person efforts with online channels.
Optimize for SEO
A strong SEO strategy will boost your rankings on search engines and can dramatically improve your inbound business development and origination efforts. The higher you rank, and the more frequently you appear in search results, the more visitors your website will receive. Your SEO strategy will be most effective if you:
- Play up your location for your audience searching locally
- Provide industry-specific information about your services or experience
- Create original online content
- Modernize your website
How Can We Help?
At Merger Labs, we have a deep understanding of the search language used by business owners seeking a sell-side advisory, buy-side advisory, ESOPs, capital raises, and everything in between. This knowledge gives us the unique ability to optimize your site to appear in the right search results, giving you quality leads and higher conversion rates.
Have more questions about SEO and how the Merger Labs team can help get your brand recognized? Call us today to learn more, or reach out directly to garrett@mergerlabs.com
