Coin dealers: marketing techniques

dan1ecu

I’m curious as to how crucial it is to have good marketing skills in order to succeeding the coin business. Some dealers seem to really have a knack for writing good, long descriptions of their coins, while others just list the coin with a price and maybe a picture. I imagine it can be challenging to write a thorough, accurate (and honest) description in such a way that people get excited about the coin. Does this seem to make a difference in how successful the dealer is? As a buyer, does it affect who you choose to buy from?

Dan

vega1

Marketing is extremely under-rated and important to any business, and is a much larger piece than most realise. However, marketing doesn't have to be 'professional' or involved. Some people just have a knack for good presentation and clarity. Really, thats all marketing is: Defining how you want to present yourself or your business to the world, then clearly and consistently presenting yourself that way.

Will good Marketing capture more/better prospects and customers at the outset than bad or no marketing? Yes, absolutely. However, the best marketing in the world won't keep customers happy. Your service has to do that. Marketing is a battle of perceptions, not product or service. As a marketeer, your job is to fill the sales pipeline, sales, service, and support take it from there.

In any case, as a buyer (wrt to the internet):
Do I want a professional looking and clearly presented web site? Yes!
Do I want clear presentation of the coins themselves including pictures and descriptions? Yes!
Am I more likely to buy from a website that provides these to me than one that doesn't or looks unprofessional? Absolutely!

To re-phrase your question, if you are asking if presentation will affect your business over-all, yes. Will it make it or break it? No, but it sure could help.

There's just my thoughts on the subject.

Thanks

airplanenut

It's very important-

I don't mind an auction with few details so long as there is a picture... but clarity, and especially no CAPS makes a description look better and easier to read. Sometimes a little HTML and color can do an auction well.

For websites, I hate playing games. If I can't go to the site and find what I am looking for quickly, there is a BIG problem with it (unless I am being really stupid- but that is NEVER the case )

Jeremy

shirohniichan

To make a lot of money (like dealers with full page ads in Coin World), you have to practice the art of deception. While hyping coins as "RARE!", you have to have enough of them in stock to make it worth the 3"x5" space you devote to those particular coins. You can have 20 of the coins in stock and advertise them as "unique" if you're good enough.