Social Media Handoff: Three Essential Steps for Transitioning Ownership

When we sold our business, we thought we had everything covered: contracts, inventory, financials. But one thing we didn’t consider? A social media transition plan. So, when the new owners asked for admin rights to our social media pages, I wasn’t prepared.

For years, I had poured my heart into building an engaged online community. Social media was my connection to our customers, my way of sharing updates, answering questions, and celebrating milestones. And now, I had to hand it over. It was part of the sale, of course, but emotionally, it was one of the hardest parts of letting go.

As you’re preparing to sell your business, don’t overlook your digital presence. Here are three key steps to ensure a smooth transition:

1. Take Inventory

Make a list of all your social media accounts, including links, follower counts, and engagement levels. Ask yourself:

• Are all pages up to date?

• Are you actively engaging with your audience?

• Do you have any inactive or duplicate pages that should be addressed before the sale?

2. Secure Access

Ensure you have login credentials for all accounts and understand the process for transferring ownership. Different platforms have different requirements, and some transitions are easier than others. In our case, one platform was simple, while another caused unexpected headaches. Sorting it out added unnecessary stress but it was a valuable lesson in being prepared.

3. Plan the Handoff

Discuss the transition with the new owners in advance. Do they want access to all accounts, or only the most active ones? Would they prefer to rebrand existing pages or start fresh? In our case, the buyers kept our most popular page but asked us to delete the less active ones. Clarity on these details makes for a smoother process.

A Costly Oversight

If you are a buyer, make sure you have done your due diligence regarding the social media of the business you are purchasing. If the seller has active social media sites, you will want to make sure that they complete the steps above to ensure a smooth social media transition.

A friend recently purchased a shop but didn’t consider social media in the transition. The business had a significant number of followers, an engaged audience she could have retained. But instead of transferring the page, she started a new one, losing the valuable connection to existing customers.

Don’t make the same mistake. A well-planned social media transition ensures continuity for customers, preserves brand presence, and adds value to the business.

Are you in the process of selling? Do you have a social media transition plan in place? Or are you a buyer and want to know about how to talk with the seller about a social media transition plan? Contact us for your free 30-minute consultation.