I promote my company on Facebook, and those ads have brought me dozens of inquiries and eventual clients in the past 20 months; but I have tons of content at my disposal and a solid awareness of the problems I solve uniquely better than auctioneers’ other options do. I’m not saying company promotion couldn’t or doesn’t work for auction companies. I’m just not the right vendor to build those campaigns, and I don’t want to waste auctioneers’ valuable time and resources proving that I’m a poor fit.
Facebook’s artificial intelligence won’t help you solve disagreements over whether the new company truck should be Ford or Chevy. The Dynamic Creative tool won’t help you and your partner decide whether or not to keep your mistake-prone nephew on staff. But it will help you settle disagreements over photos and headlines—and give you cheaper Facebook ads with only the best bait on your hooks.
So, the easiest way to make personal property ads more efficient is to list personal property and real estate auctions separately on your website. Even without Facebook, this should be your standard practice. The buyer pool for personal property is almost always larger than the real estate where its housed. That’s true of farm equipment, commercial machinery, estate collections, and business liquidations. Yes, there’s a little overlap in prospect markets but not as much as you might think. The Venn diagrams look more like binoculars than Olympic rings.
As long as advertising is sold by auction, the algorithms can always work for us Facebook wants ads to align with user interests so much that they don’t annoy people off their feeds. They want happy advertisers and give us as much reach as market value will allow. It doesn’t take a lot of money to benefit from this system.
That’s why I find it so ironic that the question I get most from auctioneers about Facebook advertising is, “How much will it cost?”
This is a seismic shift. For most people reading this, though, there is little reason to panic. We can still have incredibly targeted and efficient ads on the most pervasive social media platform in our country.
If I had to choose between my instinct and the billions of advertising impressions that fed Facebook’s seismic shift in available text space, I’m going to rely on the behemoth’s deep and wide sampling of our buying culture. Advertisers don’t make the rules. Consumers do. We advertisers either break ourselves upon those rules or play within them for more and better traffic to our auctions.
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