When you start a product based business, one of the most difficult and expensive parts of making that business a success is marketing.
Whether you set up at local craft fairs every weekend, pay for online ads, or even higher a marketing expert, the amount of time and money spent are all just costly, time consuming donations to the potential success of your business because you have no way of knowing how many sales you can expect after putting in so much effort.
Here's how creating, managing and monetizing an online $1 auction leads to free ongoing marketing for your small business that increases your sales and loyal customer base.
Sell products daily: The bigger your $1 auction, the more chance of you will have of getting more than your usual asking price for items you sell through your product based business. (Ex. If you are selling handmade necklaces for $9/each, building a local $1 auction will give you the opportunity to test the local market for the popularity of your items as well as post your necklaces for a chance to get $10 or above for each piece depending on their popularity. Consider your $1 auction a testing ground for your product based business before opening sales up to the rest of the world.....a testing ground you get paid to manage ;)
Make extra money through memberships & advertising: Creating, managing and monetizing a local $1 auction will allow you to collect monthly membership fees from others wishing to sell on your platform as well as advertise other local businesses to members of your auction.
Make your business a sponsor of your $1 auction: Seek several sponsors for your $1 auction that will be able to take advantage of posting and being advertised by you. Be sure to make your own business one of the sponsors to ensure ongoing exposure to community members as your auction grows. They say people need to see your ad. at least 7 times before making a purchase.
Eliminate costly shipping for items sold: Selling your product based business items using a local $1 auction will further increase your profits by eliminating the need for costly shipping and materials needed to ship. When items sell on your $1 auction you will arrange with winners to pick up items at your location.
CLICK HERE to take the $1 Auction Training and take your business sales to the next level!