Whether “fiduciary duty” can be found in our auction contract or not, it’s in our best interest to act as if it is. That will lead us to make decisions that may not be easy but will be the right thing to do. Surprisingly, some of those decisions will be in our marketing plan.
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.
Facebook is the biggest innovation in advertising ever. I truly believe that and am thankful for the times it bails me out of tough strategy situations with my clients. While Facebook collects a mind-boggling amount of data about its users, there are still audiences it can’t reach that direct mail can.
We can sell “high risk, high reward” with integrity. We can sell the time value of money with honor. We can sell superlative results with statistical evidence of our prowess. But let’s stop selling one thing to our sellers and another thing to our buyers.
Advertising a price can turn bargain seekers away from our auction or create a bid ceiling that conflicts with our fiduciary responsibility to our sellers. So, how do we as auction marketers leverage price to sell our assets? Contrast. We can advertise what is known against the unknown hammer price.
Our advertising headlines and subject lines and supporting text needs to focus on the assets being sold. While the marketing vehicle of an auction does connote important information the buyer needs to know, that buyer doesn’t care about those realities until they want what’s being sold.