This blog post, like most I’ve written over the past few years, is a response to a question I get asked often. So far in 2022, I’ve worked for 65 companies; and 16 are companies that tried my services for the first time. The question that spawned this article comes primarily from those new clients.
I’ve spent almost $2 million on Facebook advertising. Thousands of auctions into this livelihood, I’ve tried all different kinds of lures while fishing for bidders. Thanks to gracious and patient clients, I’ve been able to test different headlines, different imagery, and different ad delivery formats. One thing I’ve discovered is that prospective real estate buyers don’t respond equally to the various types of visuals in your ads.
ries.) While that shift removed some valuable demographic and interest categories from our toolbox, the remaining options prove robust enough for the vast majority of auction properties I’ve advertised since then. Here’s a list of targeting options still available for sponsored ads and promoted posts.
allows the lookalike audiences tool to find people we were missing.
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.