How to Attract the Right Buyers for your App

| Blog | June 7, 2012

When selling your app, it’s often not just about getting the highest price, but also about finding the right buyer for the transaction. Besides deciding what your app is worth it is important to build relationships with potentialbuyers and sellers on sellmyapplication.com.

Here are some key things all of our buyers and sellers should note as they proceed with selling their app businesses:

Grow Buyer Confidence with Honesty
The relationship with your potential buyer begins when they see your ad description. You want to start the relationship on the right foot by being as honest as possible. A buyer who thinks you are an honest seller is much less likely to cause a deal to fail. When putting your ad description together, keep these points in mind:

1. Disclose everything you know about your app. – Just say it straight up, from the beginning to end. Let them know why/when you created/acquired it. Give them the back story. Even sharing things about your personal life will help foster this new relationship.

2. Don’t try to hide anything. – Buyers are GREAT at due diligence and digging up dirt/inconsistencies with your ad. If you are trying to hide something, it is sure to surface and bite you sooner or later. At sellmyapplication.com we provide all our users the ability to publicly comment on ad listings. We can’t count the number of times that a user has found some inconsistencies and posted to our site severely affecting the final price that was received in the end. Avoid ambiguous and vague terms that might create a sense of mistrust in your buyers.

3. Invite everyone to take a look at your itunes connect or other analytics. Adding potential buyers as guest users on your analytics really shows that you have nothing to hide. They’ll know just as much about your visitors as you do. Some sellers are hesitant to add analytics users because they fear that they’ll be competitors looking for secret data. I don’t really buy this. First, you are selling your app anyway, and second, this is very unlikely. Definitely not worth the potential loss in buyer confidence by denying people access to your analytics.

4. Don’t try to embellish or skew information. Your goal with your ad description is to accurately describe the app. Let the potential buyers analyze the data on their own. Don’t try and interpret the data for your buyers.

Don’t Over-Sell Your App
You aren’t trying to pedal some generic app, an app that has limited downloads/reviews, or offer false guarantees. If you’re selling a real investment with established downloads/earnings, you’ll want to attract a different kind of buyer.

The bottom line is this: you want buyers to know what they are getting into. Don’t give them any false expectations. Make sure they understand that this is an investment, and as with any investment, there is an amount of risk, and no guarantees on future earnings. You don’t want to over-sell them into placing a bid, only to get cold feet when it comes time to cough up the dough.

Make Sure Buyers Actually Read your Ad Description
One of the key indicators that someone has not read your ad description is when they ask questions that are clearly answered in your description.

I’m sure there are more polite ways to do this, but the key is to make sure that your bidders are actually reading the description. You spent the time to create the description targeted towards serious bidders. How can you be serious about buying the app if you aren’t even reading the entire ad?

Use as much industry jargon as you want to in your ad description. Things like xcode, ios, itunesconnect, iad, etc. Even if a bidder doesn’t understand a term – but is able to Google it and figure it out on their own – they are demonstrating competency.

Accept Multiple Payment Methods
I personally always accept Escrow.com, Paypal or paper check payment. It definitely increases buyer confidence to show that you’re willing to do the transaction securely through Escrow service. Forcing a buyer to pay in a manner that they are not comfortable with is only going to result in reducing the confidence of the buyer.

Answer ALL Questions Promptly and Honestly
While the ad may sometimes be listed for months, you should always be available to answer questions as they come in. You never know where a certain conversation will take you. We’ve seen many times that the apps don’t sell, but new partners are discovered that allow them to mutually benefit from the relationship.

Be an Honest Seller to Attract Honest Buyers
The old proverb “You get what you give” definitely applies to selling apps on sellmyapplication.com. Be as honest, upfront and straight to the point as possible and you’ll get the same behavior from your buyers.

 

About SellMyApplication:

Sellmyapplication.com (SMA) was founded in 2010 by a small group of app developers based out of Boston, MA USA. We were first to market with the idea of creating a mobile app marketplace for mobile app businesses. Our site is focused on connecting developers interested in buying, selling, trading, or licensing apps they’ve written. SMA has quickly become the leading marketplace with thousands of registered developers and millions of visitors every year.

With SellMyApplication.com you’ll be able to reach a highly targeted audience of app developers, entrepreneurs, and users interested in purchasing code to improve existing projects or expand their reach across to new customers. Read our FAQ to get started.

Want to sell your app business?
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