Tag : auctioneers

post image

165: 5 Reasons to be Wary of Automated Marketing

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 their companies’ accounts for Facebook and other social media.

Auctioneers aren’t alone in this. Many small business folks struggle with this important part of the operation.

To capitalize on that great need, a bevy of startups and major corporations have created automated marketing tools and programs. Constant Contact will post your email content on Facebook. Hootsuite will publish free to up to five of your social streams with one click of the Autoschedule button. ZipRecruiter promises to reach hundreds of sites and post to social media for you—with one click.

These automated services deliver on their promise of ease but can’t and usually don’t promise efficacy. They’re wise not to promise that, too. The current social media landscape makes robo-posting incredibly less valuable than native interactions.

1. Organic reach is a thing of the past.

Most automation tools focus on posting on your behalf and assume that your followers will engage because they follow your brand. That assumption is optimistic at best, especially on Facebook where less than 5% of your Facebook fans see your unpromoted posts. Just posting isn’t enough anymore.

2. Each media has its own culture.

Facebook, Twitter, Instagram, Pinterest, Snapchat, YouTube, and email each operate in different ecosystems with different formats, different purposes, and different audiences. Savvy marketers leverage the unique characteristics of each medium and adapt their messages to each. They know that the same statement auto-translated in all languages at once will inevitably cause part of your message to get lost in translation.

3. Targeting and measurement is platform-dependent.

Automated posts can’t be targeted, tracked, or analyzed like native posts can. Almost every business needs to reach new customers—people who have not yet done business with them or engaged with their social media accounts. To reach those people and to more efficiently interact with more of your ideal customers, you need the native platform tools.

4. Authenticity is more attractive.

The best social media marketing is less about broadcasting and more about providing something for the viewer. That could be entertainment, a solution to a problem, or something for their wish list. Social media users can tell when a message is generated for multiple platforms at once, and that content looks less organic, less personal.

5. Customer service can’t be automated.

While immediate responses can be set up with autoresponders, full problem resolution typically works only with communication between two humans. With Facebook’s immutable rating system and with hashtags making social media instantly searchable for negative reviews, it’s more important than ever to monitor and address the concerns from social media in person.

You have to go where your customers are.

When auctioneers and small business people used to tell me they don’t have time for social media, I told them to just skip it altogether. I can’t do that anymore. 78% of American adults are on social media. Infodocket claims that one out of every five page views on the Internet are on Facebook. With lookalike audiences and tracking pixels—both of which are free tools—small businesses can find new customers like no time in human history.

Statistic of Facebook Users

Take advantage of education.

So, the bad news is that you need humans running your social media. The good news is that there are fantastic resources to train you or your staff how to do it—not just to make sense of it but to thrive with it. You can find a lot of tutorials for free or cheap online. You can find education tailored to the auction industry in the Auction Marketing Management designation, too. I volunteer to teach in that environment (and pay my own travel expenses), because I strongly believe that targeted marketing and adapting to cultural trends is what will keep my clients and companies just like them in business—if not thriving in their marketplace for years to come.

post image

158: How Auctioneers Can Be Like Presidential Candidates

This presidential election season has been the most annoying and befuddling of the six for which I’ve been eligible to vote. This is the third one with Facebook, Twitter, and YouTube; so, it’s more than social media stoking the fire.

The candidates have changed their opinions and platforms over their careers enough that Stephen Colbert could even use one candidate’s footage to debate himself. Others have assembled similar video presentations for other candidates, as well.

For two hundred years, American politicians have told one audience what they wanted to hear and another audience something else. Because all of us voters vote for our interests or our perspective of the interest of others, it makes sense that politicians play the chameleon game.

The problem now is how easily that deceptive pandering is captured and how easy it is to search for those captured moments. You’d think it’d behoove a candidate to be authentic and consistently honest, but politicians know that all Americans think most politicians lie for political expediency. They also know that if they uphold enough of their party’s platform, the zealots will look past their foibles.

Similarly, many auctioneers often play two crowds with different messages. Amazingly, they rarely get caught. At the same time, the industry as a whole scratches their head as to why the profession comes with a bit of a stigma in the marketplace.

Conflicting MessagesOn one hand, we market auctions to buyers as a place to get good deals (especially at absolute auctions). One auction industry blogger recently candidly admitted that he’d wait for an auction instead of buying an asset for a fixed price, if he had the time to chase the potential discount.

On the other hand, we tell sellers that only auctions will achieve the highest market value. I’ve had to copy and paste that into more proposals than I care to count—including proposals for absolute auctions.

“Well, a talented auctioneer working the frenzy of competitive bidding can get a crowd of people, who registered to bid thinking they’re going to get a deal, to pay more than retail for something.”

That’s true. I’ve witnessed that in person, especially with guns, sporting goods, cars, and collectibles.

What happens when there aren’t enough bidders or the right bidders to get that frenzy started, though? I’ve seen that happen, too: assets selling for pennies on the dollar.

Don’t get me wrong. A number of auctioneers consistently do better than the market with their sales. I’d hire them, if I had to unload the type of assets they sell.

That said, you and I both know that a lot of auctions are contracted not for superlative financial gain as much as an expedited end to a headache, a triage for the bleeding, or quick cash to allocate to another opportunity.

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.

Stock image purchased from iStockPhoto.com.

×