REACH follow up system
Follow-Up Strategy: REACH
The REACH follow-up strategy is a powerful tool for business brokers looking to maintain consistent contact with business owners while delivering value and building trust. By applying this structured framework, you’ll be able to create lasting connections that lead to successful outcomes. Here's how to implement the REACH strategy effectively:
R – Respond with Relevance
Purpose: Respond promptly and tailor each message to the business owner’s unique needs or concerns. Key Tip: Reference specific details from previous interactions or the business to show attentiveness and genuine interest. For example, “I remember you mentioned wanting to retire in the next year—are you ready to start planning for your exit strategy?”
E – Engage with Empathy
Purpose: Demonstrate that you understand their challenges and aspirations. Key Tip: Acknowledge their feelings and goals, and offer encouragement. You might say, “It sounds like you’ve worked hard to grow your business, and I understand how important it is to find the right buyer.”
A – Add Value
Purpose: Provide information, resources, or insights that help the business owner see the benefits of working with you. Key Tip: Share market trends, case studies, or free evaluations to position yourself as an expert. For instance, “Businesses in your industry are currently in high demand, and I’d love to help you capitalize on this market.”
C – Cultivate the Relationship
Purpose: Foster a connection by maintaining consistent, meaningful communication over time. Key Tip: Don’t just focus on selling—show genuine interest in their success and future plans. "I’d love to hear more about your plans for the business in the next few years."
H – Hand Off Next Steps
Purpose: Guide the business owner toward clear, actionable steps. Key Tip: Make it easy for them to take the next step by suggesting a meeting time or offering to send additional information. For example, “When would be a good time for me to come by and take a look at your business?”
Follow-Up Cadence: REACH in Action
To put the REACH strategy into practice, follow this simple cadence for following up with potential clients:
Day 1: Initial Contact
Objective: Make the first impression and establish contact.
Action: Drop a letter, send a cold message, or make the first call.
Script Example:
“Hi [Owner’s Name], I specialize in helping business owners like you sell their businesses for maximum value. I’d love to chat about what that process could look like for you.”Day 3: Remind & Engage
Objective: Follow up on your initial contact and engage them with a question.
Action: Send a follow-up message or make a quick call.
Script Example:
“Hi [Owner’s Name], I wanted to follow up on the letter/message I sent a few days ago. Have you had any thoughts about selling or exploring your options?”Day 10: Add Value
Objective: Provide useful information to build trust and credibility.
Action: Share a market update, industry trend, or a quick tip.
Script Example:
“Hi [Owner’s Name], I thought you might find this interesting—businesses in your industry are currently in high demand. Buyers are willing to pay top dollar for businesses like yours!”Day 14: Connect
Objective: Build rapport by sharing a success story or example.
Action: Follow up via call or message, referencing a relevant case study.
Script Example:
“Hi [Owner’s Name], I recently helped a business owner in your industry sell their business for 20% above market value. I’d love to help you explore what selling could look like for you.”Day 20: Reassure & Hand Off Next Steps
Objective: Reassure them of your expertise and guide them to the next step.
Action: Offer a meeting or evaluation.
Script Example:
“Hi [Owner’s Name], I’d love to stop by and chat further about what selling could look like for you. When’s a good time for me to swing by?”Day 27: Final Push Before the Close
Objective: Remind them of your availability and reinforce value.
Action: Call or send a direct message. Emphasize the opportunity.
Script Example:
“Hi [Owner’s Name], just wanted to check back in. Buyers are actively searching for businesses like yours, and I’d love to help you take advantage of this market.”Day 30: The Closing Follow-Up
Objective: Make a final attempt to set the appointment or close the loop.
Action: Send a direct message, email, or call with a clear call-to-action.
Script Example:
“Hi [Owner’s Name], I understand timing is important, but I’d love the chance to help you explore what selling could look like. Let’s set up a quick meeting to see how I can assist.”
Key Follow-Up Best Practices
Personalize Communication: Use their name and reference specific details about their business.
Track Interactions: Log every interaction in a CRM to stay organized and strategic.
Be Persistent, Not Pushy: Follow up consistently but respectfully to avoid overwhelming the business owner.
Confirm Appointments: Always confirm meetings the day before to ensure their availability.
By following the REACH strategy and cadence, you’ll stay top-of-mind with potential clients, build trust, and create meaningful connections that lead to successful business outcomes.
