Several, if not all, of those can apply to auctions and auction companies. Let’s explore a couple of them:
First and last – Consumers first check Amazon
for a price and then come back last to buy it after comparing in other
places. For auction companies, this behavior should underscore the idea
that buyers and sellers are looking for specific items – and not
specific auction companies – when they search online. The question then
becomes: How are you marketing your events? Does your marketing
highlight company first and items second? Is your online lot catalog
built around the items’ keywords, or does it simply say, in essence, “we
have a lot of stuff”?
Shopping by voice – Google Trends data suggests
that use of Voice Search has increased 7x since 2010. With regard to
Amazon, people now can simply order items through their Amazon home
devices. That sounds scary for auction companies and other outlets, but
what it should show you is how important it is to understand today’s
consumer technology. Data exists and shows which words people use when
ordering those products. This is important to remember when, again,
setting lot descriptions. Use the words people are searching with when
they speak. It eventually all refers to which files best fit those
requests.
Buying groceries, clothes, online – Both
perishable and non-perishable items are increasingly easy to have
delivered or make available for quick carryout. Extrapolate that a bit
and the real value to consumers is time. They don’t want or need to
spend the time shopping in a store. That’s important to note when
considering an auction. How does your auction planning account for your
buyers’ time?
Ease of returns – Amazon has changed the game
for everyone in this arena. The entire process has been simplified down
to a couple of clicks, and consumers use it regularly, without fear.
Because they are more confident in the entire experience, buyers in turn
are more likely to search and find that perfect item – even if it takes
one or two returns to get there. In that light, what does your return
policy and procedure look like? Is it as buyer-friendly as it can
possibly be?
Endless aisles – Amazon’s extensive network of
partnerships allows for the same item to be presented from multiple
places, all in one place. This level of selection means consumers don’t
have to waste time in multiple stores – or even on multiple websites –
to price compare. Giving consumers this capability greatly lessens the
chance they leave the site before purchasing.
For auction professionals, this may seem like an unanswerable challenge
considering it’s not like you can create inventory in a given sale.
However, this is a great place to be creative. Be creative in showing
why the asset you have is special/unique/etc. You get to tell an asset’s
story far better than an Amazon ever will.