Why Auction Marketing Matters: A Selling Advantage

Beyond enticing products or an easy to use bidding platform, what really makes an auction stand out is strategic marketing before the bidding starts. After all, people have to know that an auction exists before they can participate in it. Effective marketing isn’t about promoting your auction to as many people as possible — instead it reaches out to the right people. It’s essential to utilize targeted marketing to reach the right people, at the right time while they’re in the right mindset. Need more proof for why auction marketing matters? There are advantages to marketing an auction that you may have never considered:

Auction Date Reminder

When people visit your auction page on our website, it may only pique their interest, — additional reminders are sometimes necessary to push them over the edge to participate. It’s important to remind people when your auction is taking place, so they don’t wait to return after it closes. Advertising platforms such as Google AdWords make it clear when your auction is taking place, which serves as a reminder to people who have shown interest, as well as an introduction to target demographics that are likely to be interested. Whether they see your auction in a search results page, trade magazine, or on Facebook, publicizing a date creates a sense of urgency for bidders.

Select Audience

A retired librarian is unlikely to be interested in restaurant liquidation items; so marketing that type of auction to that specific demographic won’t lead to many sales. A successful auction requires a much more targeted approach to marketing. It takes research to determine what is an appropriate target audience when marketing an auction, which is the first step for a successful campaign. Once it’s determined exactly whom you should be talking to, it’s time to begin creating unique advertising for an auction. For example, if a target audience frequently searches for a specific phrase on Google, it’s possible to purchase ads that appear when they type in that query. An auction is likely to attract more people when you reach them in a buying mindset.

Creating Excitement

The truth is, nobody wants to participate in an event that feels lifeless. Even if the auction takes place entirely online, as in a digital auction, there is still a need to create a sense of excitement/urgency leading up to the event. Marketing an auction adds some buzz, which is necessary to ensure that it will be a success. When people sense that there is a limited time to purchase the items they’re interested in, they’re more likely to take action. This is what drives highly competitive auctions, because it only takes two people looking to purchase an item to start a bidding war. The goal of a successful marketing campaign is to get people to look forward to auction day. Creating strategic messaging and delivering it to the right people is the only way to make that happen.

If you’re thinking about selling items from your business, it’s important to remember online auctions give you more than a platform to sell on. Selling through an online auction platform gives you the marketing it takes to connect you with relevant buyers. Compared to doing everything yourself, it’s an easy way to attract a large amount of buyers who are interested in your items. Wondering what else goes into a successful auction? Contact Greg at Auction Masters now 763-428-2271 x1 or check out our auction planning page to see all the services you get when you work with our expert team.