Will Your Jr. Livestock Auction Survive This Economy?
Absolutely! If you take the necessary steps and plan for it.
Zebra Insurance recently reported that a whopping 66% of small businesses are facing financial challenges. Coupled with StockShowAuctions.com reporting that 92% of Junior Livestock Auction buyers are small business, you can figure that roughly 60% of your historical buyers will pull back in their spending at your next auction.
Organizing a triumphant Jr. Livestock Show is an endeavor that demands continuous planning and effort throughout the year, and the stakes are undeniably higher in a sluggish economy.
Below are our top five recommendations for your upcoming sale to triumph over the prevailing economic challenges:
Scheduling: Ensure your sale is slated when community participation is at its peak. Collaborate with local chambers of commerce and review school calendars (don’t forget potential athletic playoff schedules) to avoid scheduling conflicts. Evade the mindset of sticking to traditional timings like "That's our usual night". Sometimes, shifting to unconventional days, such as a Monday, Tuesday, or Thursday post-show, can yield surprising results. Flexibility can be HUGE key to success.
Commanding Presence in Social and Local Media: There's no better story than that of dedicated, successful youngsters. Appoint individuals skilled in communication to your PR team. Execute a well-rounded social media strategy and spotlight kids, parents, and local influencers on various media outlets, always emphasizing the auction.
Robust Online Visibility: Maintain an active presence across platforms like Facebook, Instagram, and TikTok. Today's audience seeks information online, and if your sale isn't prominently featured, it may be overlooked. Offering features like simulcast bidding and add-ons through platforms like StockShowAuctions.com can potentially boost your revenue by 8-12%. Check your social media accounts to verify the current and correct contact information is listed and easily accessible for potential buyers, you would be amazed at how many shows do not provide any contact information on their social media.
Engage a Charismatic Auctioneer: Employ a professional auctioneer who can captivate the audience. Invest in their expertise rather than expecting voluntary services. A skilled auctioneer can transform your auction into an eagerly anticipated event. If your community lacks such an individual, StockShowAuctions.com can refer seasoned auctioneers who can elevate your sale.
Prioritize Quality: Avoid cutting corners at the expense of your buyers' experience. Ensuring the comfort of your buyers is an investment in your future sales. For instance, a chilly venue and lack of refreshments can lead to subpar sales, as seen in some sales. Hungry and thirsty typically does not translate to more revenue. Creating a pleasant environment with good food and comfort can encourage higher spending and repeat attendance.
In summary, StockShowAuctions.com is committed to equipping you with strategies and insights that can aid in not only navigating but thriving amidst economic uncertainties.