Best Practices For Starting An Online Auction

Smart Practices For Starting An Online Auction

Written by Andrea Leigh, Customer Success Manager, Auction Simplified by TRAXERO

Transitioning your in-person impound, abandoned, or unclaimed vehicle auction to entirely only can be a lucrative move for towing business owners and managers if done correctly.

Here are some smart practices you can adopt to help you host a successful online vehicle auction:

  1. Ensure full commitment and readiness for the change across your entire team. Success in online auctions requires dedication and focus, so buy-in from every stakeholder is critical.
  2. Choose a robust and reliable auction management software and participate in comprehensive training sessions with your Customer Success Managers who will guide you through the process and provide ongoing support.
  3. Define clear job roles and responsibilities within your team such as Auction Manager, Inventory Manager, and Cashier/Title Clerk, etc., to ensure operations go as smoothly as possible.
  4. Reach out to previous buyers and key customers to notify them of your online auction platform and encourage their participation.
  5. Integrate a link to your auction website from your towing website and establish a strong social media presence to promote your auctions regularly.
  6. Capture high-quality photos of your inventory from various angles to attract more buyers and drive higher bids.
  7. Schedule consistent auctions at regular intervals to maintain buyer interest and engagement. Stick to a set schedule to cultivate a loyal following.
  8. Send auction reminders, updates, and promotions via email to your buyer list to keep your audience engaged and informed.

 

Making the conversion from traditional in-person auctions to online-only auctions can be a daunting move. That’s why there are software solutions out there backed by support teams who are dedicated to your success and become your true partner throughout the entire journey.