Targeted Marketing Campaign

How do I know if a targeted campaign is suitable for my business?

We will discuss with you during our initial assessment if we think a targeted campaign makes sense for your business.

Targeted Outreach

If you decide you want Morgan & Westfield to conduct a targeted campaign, we will work with you to prepare a list of potential buyers, including corporations and competitors. We will send them a copy of your Teaser Profile to pique their interest and then follow up with them to determine if they are viable potential buyers. The confidentiality of your business is maintained throughout this process as the Teaser Profile does not disclose the identity of your company.

The process and time allotment for contacting competitors and other companies is as follows:

  1. Research & Compile the List: Five to 20-plus hours. This will vary based on the size of the list and the level of research required.
    • The seller sends a list of potential buyers to Morgan & Westfield.
    • Morgan & Westfield researches additional potential buyers and sends a list of them to the seller for approval.
    • Morgan & Westfield researches and compiles a spreadsheet of potential buyers’ contact information, including email address, LinkedIn profile, phone number, and social media presence.
  2. Initial Outreach & Follow-Up: Five to 20-plus hours, including multiple follow-ups.
    • Morgan & Westfield sends the Teaser Profile to potential buyers through multiple channels (email, LinkedIn, etc.) and follows up with non-responsive buyers using multiple contact methods.
    • Morgan & Westfield consults with the seller to determine if the seller would like Morgan & Westfield to call any buyers who did not respond after the initial outreach. Rates for follow-ups via phone are based on the senior consultant’s hourly rates.
  3. Buyers Sign the NDA & Receive the CIM
    • The buyer signs the non-disclosure agreement (NDA).
    • Morgan & Westfield emails the confidential information memorandum (CIM) to the buyer.
  4. Negotiate Letter of Intent (LOI): Morgan & Westfield handles all negotiations with buyers interested in submitting an LOI. The time for this step varies based on the level of negotiations. It is difficult to accurately predict how long this will take as some negotiations may become protracted and are not under our direct control.

Fees, Documents & Other Requirements

  • Fees: Fees for contacting companies are based on our hourly rates.
  • Teaser Required: A Teaser Profile is required to contact competitors.
  • Abridged CIM: Additional fees are required if you would like us to create an abbreviated/abridged CIM. An abridged CIM is suitable if you prefer to release information to buyers in more defined stages rather than sending potential buyers your entire CIM at once.
  • Attorney Required: You must retain an attorney and have your attorney on standby to manage revisions to the letter of intent and purchase agreement, if necessary.

How much can I expect this to cost me? The typical cost of a targeted campaign usually ranges from $500 to $5,000, in addition to the cost of the Teaser Profile. The cost varies depending on the amount of time required to prepare the list, contact the buyers, and handle negotiations. If the list is small and few buyers respond, the cost will be lower. If, on the other hand, the list is large and extensive negotiations result with multiple buyers, the cost will be higher. You will have online access to a spreadsheet where you can view the total fees throughout the process. The overall undertaking can take approximately two to five months and may be longer if negotiations are extended.

* Total Junior Consultant Time = Approximately 15 to 60 hours.

* Total Senior Consultant Time = Approximately five to 10 hours.

* Approximately 70% to 80% of the time is spent by junior consultants and is based on our junior consultant’s hourly rates. Most of the senior consultant’s time is spent crafting the initial research strategy (but not the actual research), fielding questions from buyers, and handling negotiations.


  • Yes, you can request that you handle any of the steps listed above.

  • Targeted campaigns require significant additional work and are very time-consuming, regardless of the company’s size.

Targeted Marketing in Publications

An alternative to approaching buyers directly is marketing in specialty publications such as trade magazines.

Here are the types of publications that might be suitable for marketing your business:

  • Trade publications
  • Other publications that target potential buyers for your business. For example, if you have a medical-related business, medical journals might be suitable.
  • Online blogs or forums
  • Any other publication whose readership consists of your target market.

We can assist with the following steps based on our hourly rates:

  • Identifying publications
  • Preparing the advertising copy
  • Screening buyers by phone (Our standard practice of screening buyers by email comes at no additional cost.)


  • The fees for managing marketing campaigns in trade magazines and other media are based on the advertising costs as well as our hourly rates. If you would like to lower the overall costs, we suggest placing advertisements yourself, including the proposed language below.
  • We do not charge any additional fees for screening buyers by email. However, we must approve any advertisements before they are published.

Here is a description of the process for targeted marketing in publications:

  • Identify publications: This can be done by you or Morgan & Westfield — Our hourly rates apply for assisting with this.
  • Prepare ad copy: This can be done by you or Morgan & Westfield. We suggest using the language provided in the Executive Summary of your CIM or Teaser Profile as a starting point — Our hourly rates apply for assisting with this.
  • Place the advertisement: We suggest placing the ad yourself in order to handle the billing costs for the ad directly with the publication — Our hourly rates apply if you would like us to manage the process of contacting the publications and placing the advertisements.
  • Screening buyers: Morgan & Westfield screens buyers by email, requesting that the buyer sign a non-disclosure agreement (NDA) before receiving additional information on your business. The cost for screening buyers is included in our standard monthly marketing fee for web portals — There is no additional cost for screening buyers if we are currently advertising your business for sale on the web portals. If we are not currently managing that advertising, our hourly rates will apply.

Suggested Language to include in advertisements:

Please include the following information in your advertisements:

We cannot release any additional information until we receive a signed NDA. For more information on this company, please request an NDA by sending an email to [email protected]. Please use the subject: NDA for ______ Company.


  • Follow our process outlined above to reduce your fees.
  • Keep your ad copy short and to the point.
  • Don’t make any long-term commitments with any publications until we have assessed the effectiveness of the ads.
  • Include our suggested language to streamline the process. This ensures that we focus on buyers who are willing to sign the NDA immediately and who are not merely attempting to obtain competitive information on your company.


  • Here is our strategy for reducing the costs associated with marketing your business using targeted publications:

    • Research targeted publications yourself and run them by us for feedback and suggestions.
    • Use the language provided in the Executive Summary of your confidential information memorandum (CIM) or Teaser Profile, but modify it slightly for each publication.
    • Place the advertisement yourself directly with the publication so you can manage the cost and billing directly with the publisher.
    • Include the following suggested language in the advertisement — We cannot release any additional information until we receive a signed NDA. For more information on this company, please request an NDA by sending an email to [email protected]. Please use the subject: NDA for ______ Company.
    • If you follow this process, our only fees would be for providing strategic advice on which publications to use and modifying your ad copy (if you request assistance with this).
  • This varies highly depending on the industry and the publication. Rates can range from as low as $50 to as much as thousands of dollars for highly targeted national publications.

  • Yes, we recommend marketing certain businesses on both web portals and in targeted publications.

  • We will discuss with you during our initial Assessment if we think a targeted campaign makes sense for your business. This strategy is generally suggested for less than 10% to 20% of small businesses. If you are unsure, please contact us.

  • No, this strategy is generally only required for highly specialized businesses.

  • This varies greatly depending on the publication and its readership, so this is difficult, if not impossible, to predict.

  • We suggest taking this one month at a time, adjusting your strategy based on the response.

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