4 Cheap & Easy Ways to Leverage Your Buyer’s Self Interest
I received a translucent envelope in the mail, through which I could see a greetings card. What was odd about the card is also what captured my attention: a screen capture of my website.
I thought, “Why is my website on the front of this card?”
Intrigued, I opened the card and followed its prompts to a website about an impressive tool for client prospecting. I even scheduled what became a 45-minute conference call with a sales representative. Due to the nature of my clientele, it wasn’t a good fit; but I will never forget something their sales rep told me.
“People will always open something when they see themselves on the cover.”
In almost a decade of teaching and writing about making advertising consumer-centric, I had never heard the concept described that way. This salesman told me how their reps searched Google Images for the prospective company or their targeted contact to pull up a publicly-available photo. If there wasn’t much there, they pulled a screen capture of the prospect’s website.
It worked on me. I signed up for a sales pitch, and I hate sales pitches. I was that intrigued.
I know what you’re thinking. “That wouldn’t work for selling my services and definitely not for selling assets.”
Yes and no. While this specific application of appealing to buyer self-interest wouldn’t work for most of us, its underlying principle can be applied in multiple ways to what we do. Here are four of the easier ways to incorporate this approach to your everyday marketing.
Variable data names
The one thing we already know about most recipients is their name, and names are very personal. One of the things my clients are doing now, using variable data technology, is incorporating the recipient’s name into a call to action. Since each piece is printed digitally, every single postcard has its recipient’s name on the photo. If there is no name for the address, the software knows to delete the name and comma of address. (It takes me about 5 minutes longer per postcard to set it up and costs us a fee of only $20 to $30 at the print shop.) My first client to try this used a unique URL to measure his postcard response and saw an immediate jump in web traffic from his postcards of 100%. You read that right: 100%.
Variable data images
If you sell multiple categories of assets in your auctions, you can have each category of buyer receive a piece where the big image on the mail panel is from their asset category. This technology shows your prospects their interests first. So, if you sell rolling stock, yellow iron, farm equipment, and contractor machinery, potential buyers can see all of the assets elsewhere in the brochure but their asset category on the first impression panel. (Your mailing list of past bidders is segmented by purchase history and asset categories, right?) If you sell real estate portfolios, you can have the property nearest the recipient emphasized over the others on the piece.
Different stock images
Usually, when small businesses advertise their services, they show pictures of their staff, their events, their brick-and-mortars, etc. If they show asset images, they typically represent the high end of the value spectrum of their preferred asset categories. These images are typically not items from past auctions but stock photography of dramatic staging and/or brand-new assets. What these marketers typically don’t show is other sellers—or stock images of people who look like their typical sellers. One of my clients has used an image I love, when mailing to farmers with options about what to do with a life’s worth of assets. Can you see why this image would draw a pending rural retiree into the sales pitch?
The easiest and cheapest way to adapt any advertising to take advantage of buyer self-interest is changing your prominent text. Most auctioneers lead with “AUCTION,” because auctions are how they see their projects, their schedules, and the assets they sell. In fact, bid calling is even part of their identity and self worth.
The problem is that buyers don’t buy auctions. They want or need assets. They will visit multiple venues and/or websites until they find what they want at the price they want. Auction only factors into that decision, if they think they can get their item more quickly, more easily, and/or more inexpensively at your auction. If you’re not offering timed online bidding or the option to “buy it now” at a reserve price, “auction” might actually be the least convenience purchase method. Then, you’ll be left having to hope for either a patient buyer or for auction day bidder frenzy to overcome the presumption of low sale prices—since that will be their motivation to wait to purchase, if they’re in immediate need or want for the asset.
So, sell the asset first. Use most of the text selling items (or for benefit auctions: the cause or organization). Only then, tell them how and where they can bid and whether there is a reserve on the asset(s) or not. It’s not deceit. It’s adaptation to the realities of our culture’s consumer base.
If we’re not adapting to buyer self-interest, then whose self-interest is guiding our advertising?
Unless we as the advertiser are also the ones buying our services or assets, why should we expect that strategy to work?