If you’re trusting that being in the right place at the right time is enough, know that those pragmatic auction marketers are connecting with more and better prospects than you are.
Thankfully, Facebook invented the next best thing within the past couple months. I’ve been experimenting with it on behalf of several clients, and it’s killer.
Click on any of the illustrations below to enlarge them. — If you read business news, you run into the term “big data” on a regular basis. I used to associate it with corporations mining our transactional histories to extract scary quantities of data for creepily-predictive advertising. After teaching part of the Auction Marketing Management course
The biggest confusion I encounter when teaching people how to advertise on Facebook is the difference between an ad, a promoted post, and a boosted post. Part of that confusion comes from Facebook using similar buttons and terms to describe both. Don’t be fooled, though. These are very different tools with different purposes for savvy advertisers to use.
Most auction companies book deals with a great disparity of values. And not just in real estate. Estates, business liquidations, and farm packages come in all shapes and sizes. So do their advertising campaigns.
It won’t surprise most of my readers that an auction company hired me to design more than 120 different postcards last year or that the people on their mailing list purchased millions of dollars’ worth of assets from them in 2016. What might surprise you is that this client mailed each postcard to less than 1% of their mailing list database—or that this same customer spent at least three times as much on Facebook per auction than they did on that very successful direct mail.
While I’ve not yet got to play around with this tool, its potential is exciting—especially for auctioneers who issue post-auction reports to sellers. The more data point you can use to validate your marketing strategy, the better.