To ensure that your asset auction is as successful as possible, it’s essential to consider all aspects of marketing. The internet, of course, has made marketing auctions incredibly convenient, but marketing online has many channels. The more channels one explores, the more exposure the auction will enjoy. Creating a buzz for a pending auction is important in order to draw as many interested parties as possible.
Posting auction information through the social media channels is a great method for spreading the word about an upcoming auction. As marketing experts suggest, “unless potential buyers know about yourauction, even the best domain will not make it to sale.” (1) Post your event on Twitter, Facebook, and in related forums. You can ramp up your information by including specific details about auction items. While you don’t want to bombard these sites with your auction ads every day, you should plan to promote your often several times before the actual date to reach as many interested parties as possible.
The Personal Touch
You can also reach out to people via email. You may have a list of potential buyers who would be interested in the items you will be auctioning. Send them a personal email listing the items that appear to be a good match for them. If you are auctioning off construction equipment, send messages to construction businesses to alert them about your auction. The more people you can reach the better. Also, many people prefer to find out about auctions via their email.
Connect with Your Audience
Whether you are marketing via social media or through email, you need to make sure you are connecting with your potential clientele. It’s been said, “If you have ever had an auction withgood assets and poor attendance, it’s not the market; it’s the marketing.” (2) Connecting is often a matter of communicating important information about your auction. Try to be less generally and use specific terms as often as you can because they are more likely to generate interest. For instance, staying you will auction materials that are relative to the solar industry is not as definitive as stating that you have this or that type of solar panel available.
These tips can help you market your auction more effectively. Try them to see for yourself how they can improve your marketing campaign.
1. Bido.com, “Marketing Tips,”http://www.bido.com/Info/Marketing+Tips
2. Heritage Global Partners, “Market to Market – Campaign Marketing Metrics for Maximizing Asset Recovery,”http://www.hgpauction.com/780mark-to-market-campaign-marketing-metrics-for-maximizing-asset-recovery/