That’s happening at an increasing rate through social media use for
businesses. Companies are using new methods to promote services and
products to new audiences – minus the classic, awkward cold call.
While this is a good thing, on the other hand, this provides consumers
more opportunities and selections when searching for a particular
service or product. However, Schultz has been teaching auction
professionals how to ensure their companies stay at the front of the
increasingly crowded space. He likes to show how to turn internet “cold
calls” and social media platform leads into sellers, as well as
demonstrate how easy information obtainment is online.
The information component is critical when one takes into account the
massively larger number of qualified leads that can result from adapting
to this new environment.
Target marketing: No longer at mercy of word-of-mouth
At one point, companies were at the mercy of word-of-mouth
recommendations, bought lists, and print/media advertisement. That isn’t
the case anymore. Social media has opened new doors for advertisers by
creating an unsuspecting database of constant potential clients and
sellers. For example, data indicates roughly 1.28 billion people are
daily users of Facebook, which has provided a sophisticated way for
setting clearer target audiences.
“Statistically, almost every consumer that we want to get after is on
social media,” Schultz said. And, each person leaves a data footprint.
These data points make it easy to get to know a person and their
personal data, preferences, and psychological make-up. Facebook provides
this information, called audience insights, free of charge, simply by
doing a search for a custom audience.
The ability to collect and sort information doesn’t stop there, though.
In fact, in a matter of seconds, you can use Facebook’s help and begin
collecting information consumers leave on your own auction company’s
website. Then, again using Facebook, you can form targeted groups based
on your own website traffic. There are also other tools available that
help you use social media to find sellers.
Target marketing tool: Facebook pixel
Have you ever wondered how you search or research a product through
Google or Amazon, for example, and suddenly you’re seeing ads for that
product in your social media feed?
It’s not magic; it’s a tracking pixel.
In short, a pixel is easily placed in a site or page’s HTML code and
allows an advertiser to register your information into their program.
That program has been instructed to serve ads to anyone who visits a
site or page that has the pixel. Where and how often you see the ad
depends on a campaign.
At the same time, based on those people have been tracked by the pixel,
Facebook can conduct a data analysis, build a data-based profile, and
give you the opportunity to market to people who “look like” that
profile. This “Lookalike Audience,” in this case, would “look like”
those who visited your website. These audiences can be built based on
virtually any sort of demographic, hobby, interest, or online activity.
Target marketing: Have a plan to go with your pixel
Once you get a potential lead to your site, there needs to be a clear
path for the lead to follow to navigate to convey interest. (Need help
getting a path started? Try Facebook Blueprint, a free advertising
educational tool, at: facebook.com/blueprint.)
Be very intentional on navigation buttons and landing pages. Include
videos, have few form fields, include a benefits list, and use real
Ask the consumer to do something in a Call To Action (CTA) on your site
to get them interested in getting involved with you – sign-up for a
newsletter, leave an email address, etc.
Once you have a potential contact, follow up with them quickly.
“Following up with an online lead within five minutes results in nine
times the conversion rate,” Schultz said. “Once you have the lead, it is
then up to you to make the sale.”
Other ways advertisers also have found to target specific products to
people include simply analyzing past purchases. These tools, once only
available to mainly Fortune 500 companies, are now available to the
This article was an excerpt from a presentation given at the 2017 NAA
International Auctioneers Conference and Show. Want even more tips on
this topic? Full audio of the presentation is available in the NAA Knowledge Center