169: 2 Adaptive Advertising Technologies Auctioneers Can Afford
In my lifetime, the change in advertising technology has been incredible.
• Desktop publishing allowed auction companies to design their own advertising, and it pushed newspaper deadlines back a day or two.
• Digital printing shortened direct mail production by literally a week.
• The Internet afforded auction marketers the ability to update advertising information on their website with far less lead time than was needed for signs, newsprint, and direct mail.
• Email added the ability to quickly alert subscribers of news or changes.
• LED billboards made outdoor advertising faster to implement and less expensive to use.
• Social media offered the most targeted advertising in the history of the planet.
And now, advertising can literally change itself to adapt to its viewer. Two of these adaptive technologies are very approachable, and my auctioneer clients are regularly using both.
Facebook Ads (Not Boosted Posts)
One of the options for Facebook sponsored content is an ad that shows a single image to the viewer. The advertiser can actually load up to six different images into that photo’s spot. Facebook displays all of the photo iterations of the ad pretty much evenly to viewers the first day and measures which ones got the most interactions. The next day, it adapts how the images show to the public and weights how it serves them accordingly. On day three, it adapts again after considering how the public interacted with the previous days’ mix of images. This process continues until the end of your campaign.
With some extra elbow grease, Facebook will also do this with other content in an ad set—switching out types of ads (video, slide show, single image, etc.) for the type that’s best performing.
Best of all, this adaptive capability comes with no additional Facebook charge. It’s in Facebook’s best interest for ads to appeal to its users, and they want advertising to be as effective as possible—to keep getting advertising revenue from advertisers.
By the way, I’ve regularly been surprised by which image got the most traction. On campaigns where I’ve targeted different ads to different target audiences, it’s interesting to see how each audience gravitates to different images or content.
Variable Data Printing
I’ve blogged about this technology before, but few of my clients leverage this tool. Rather than using plates on a traditional printing press to imprint a static design for an entire print run, each piece is imprinted digitally and customized according to the address printed on the piece. There can be as few as two versions of the piece; or maybe there can be a multitude of variations, depending on the database setup.
The basic premise is that different people on your mailing list get different versions of the postcard or brochure—versions tied to their interests. So, if you have a multi-property auction, the property closest to them might be featured on the mail panel. If you’re selling real estate and personal property, people on your real estate list will get a different version than people on your personal property list. If you have an ag equipment list and a construction equipment list, the catalog mailed to both lists can have the same guts but a different cover and mailing panel.
Setup for this technology runs anywhere from $35 to $50 at the print shop and a little extra on the design end. Depending on the size of your mailing, the cost difference can be inconsequential. The value it adds, though—with people getting mail their more likely to read—is very much noticeable.
With each new technological capability, auctioneers have needed to fit more tools into their marketing tool boxes, but they’ve also gained more and better ways to find motivated buyers and sellers. Is your advertising updating itself after you cut it loose? Is it adapting to buyer interests? If not, how much of a head start are you willing to give your competition while their marketing is?
Stock image purchased from iStockPhoto.com