We’ve probably all heard that we can only pick two of the three: cheaper, faster or better. As auctioneers, many of us think the following:
If we’re cheap and fast, we’re probably not better
If we’re cheap and better, we’re probably not fast
If we’re fast and better, we’re probably not cheap
This appears reasonable to most in business all over the globe. It is not difficult for me to think of my own shopping experiences where I can find all three scenarios.
When I get dry cleaning done, I generally receive better and fast service, but it’s not cheap. When I order things online often times the item is better and cheap, but not fast. When I occasionally eat at McDonald’s, my meal is generally cheap and fast, but not better.
As auctioneers, can we be only two of these three? Traditionally, that’s been the thought. However, here in 2019, do customers and clients expect cheap, fast and better? They do.
What do clients and customers complain about when they get cheap and fast? Quality. What do they complain about when they get cheap and better? Waiting. What do they complain about when they get fast and better? Price.
Auctioneers that can provide quality service quickly for a reasonable price are probably getting the most business. This isn’t a formula for every auctioneer, but something to consider if you want more business here in 2019 and years to come.
The exception to cheaper may be that you are one of a limited number of people who can solve a particular problem. Better yet, you might be the only one. In some lines of our business, we provide the only solution for certain specific problems — and can charge accordingly.
It’s called specializing which can enhance your revenue. However, even if you charge more, you best be fast and better as well. Slow is almost unmarketable here in 2019 and if you’re not better, then maybe your customer/client may indeed have other choices?
For most auctioneers, finding a way to be better, faster and cheaper may be the best business plan to attract a new generation of savvy buyers and sellers. You see, the public at large looks to avoid steep pricing, lackadaisical behavior and dreadful products and/or substandard services — just like most of us auctioneers do …
Mike Brandly, Auctioneer, CAI, CAS, AARE has been an auctioneer and certified appraiser for over 30 years. His company’s auctions are located at: Mike Brandly, Auctioneer, RES Auction Services and Goodwill Columbus Car Auction. He serves as Distinguished Faculty at Hondros College, Executive Director of The Ohio Auction School, an Instructor at the National Auctioneers Association’s Designation Academy and America’s Auction Academy. He is faculty at the Certified Auctioneers Institute held at Indiana University and is approved by the The Supreme Court of Ohio for attorney education.
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