Most of the folks that attend my seminars represent sole proprietorships or family-size businesses. Based on the feedback I get before and after my talks, I sense that many auctioneers feel unable to keep up with the growing media landscape. In particular, they tell me they don’t have the time, energy, or expertise to manage
One of the best ways to circumvent that consumer defense is the element of surprise, and one of the best vehicles for that is dimensional mail. First, it typically gets past the gate keepers, even in corporate settings. Second, it allows a unique advertising vehicle underused and probably unmatched by your competitors.
Auctioneers regularly tell me how much they want to work with REALTORS. Maybe they should first pursue working with their statistics.
In a digital world, print media has the potential to be a tangible disruptor and a more personal interaction. Direct mail allows a broader range of sizes and formats than online media. When produced and placed well, signs are often the leading medium for obtaining auction buyers. Just because it’s more difficult to track them doesn’t mean they are necessarily less effective.
I don’t think I’ve ever talked to an auction company that recorded that segment of their buyers. Online bidding platforms keep this information. These bidders shouldn’t be too hard to discover at on-site auctions, especially real estate ones. They’re already in your clerking software. All it’d take to capture this data is an extra column in your database to indicate that they came in second.
If we’re not adapting to buyer self-interest, then whose self-interest is guiding our advertising?
Unless we as the advertiser is also the one buying our services or assets, why should we expect that strategy to work?
In the current marketplace, there’s no excuse for relying on instinct. Our marketing mix should include more experimentation and less guesswork. Our customers on the aggregate are telling us how and where and when to advertise and conduct transactions. The buying public is always right, whether we like it or not; and they’re generating the data to prove it.