24h (edited) • General discussion
STB Auction Debrief - How to NOT do a $174k auction!
As in...SHIT. THE. BED!
Ok, it didn't have the outcome I wanted, but I got great data from it.
Here's how I set it up...
I reached out to a handful of cool offer owners.
"Are you doing a black friday promo this year?"
"Hmmm...not sure. I probably should, right? Whatcha have in mind?"
That was pretty much the same response from each message.
Super simple.
Got 5 on board out of like 7 I reached out to.
I setup a Skool group.
Ran a Last Comment Wins contest to fill the group.
Most of the new members came from two of the partners.
1300+ comments in a little over 24 hours...300 in the last 5 minutes.
Originally I was going to pull people in for an auction with a bundle of offers from the partners I reached out to.
Figured I'd make it more fun to fill the group.
Decided to do the auction with just one of the offers in the bundle.
Wrote up some copy to pre-sell the auction. It didn't get a lot of response in my group, but did well when the partner posted it.
I did a shit ton of masculine mojo and messaged everyone who commented to get them into the group.
Out of like 50 people who commented on the partner's post, I got 25 into the skool group for the auction (AFTER the last comment contest...got 53 in for that one).
Post went out on Tuesday. Auction started Thursday and ran for 24-hours.
High bid: $750 (includes 1-1 call with partner)
Not a lot of bidders to follow up with...around 12.
Sent three follow up options.
Only one took the lowest option.
$1397 total collected.
Partner sold his self-paced offer in the past for $997 (NO 1-1 calls).
I'll likely just send him the entire amount.
Here's the data collected...
𝐍𝐄𝐕𝐄𝐑 𝐫𝐮𝐧 𝐚 𝟐𝟒-𝐡𝐨𝐮𝐫 𝐚𝐮𝐜𝐭𝐢𝐨𝐧 𝐨𝐧 𝐓𝐡𝐮𝐫𝐬𝐝𝐚𝐲!
The auction ended on Friday at noon. I had a call at 1:00.
Started the follow up around 2:00pm. In their minds...people are already "out the door" for the weekend.
And here's where I totally STB...I completely forgot I'd be offline all day Saturday and part of Sunday and wouldn't be able to follow up.
𝐍𝐄𝐕𝐄𝐑 𝐫𝐮𝐬𝐡 𝐚𝐧 𝐚𝐮𝐜𝐭𝐢𝐨𝐧
I rushed this one.
Mostly cuz I was excited. Also thought it would be neat to run an auction on my birthday.
Not so neat when your wife makes plans for your birthday.
I found it wasn't the easiest thing to get people over to the skool group.
It would have been better to give it another week before doing the auction.
That would allow for some extra auction pre-selling posts.
𝐀𝐥𝐬𝐨...𝐄𝐦𝐚𝐢𝐥+𝐀𝐮𝐜𝐭𝐢𝐨𝐧+𝐃𝐌=$$$$$
I FUBARed the email side.
Skool only allows one email to your members every 72-hours.
I uploaded all the member emails into Aweber and sent a "confirm your email" message to that list.
Only two confirmed before the auction. Should have just uploaded and skipped the confirm email part.
𝐈 𝐰𝐨𝐮𝐥𝐝 𝐍𝐎𝐓 𝐝𝐨 𝐭𝐡𝐞 𝟐𝟒-𝐡𝐨𝐮𝐫 𝐚𝐮𝐜𝐭𝐢𝐨𝐧 𝐚𝐠𝐚𝐢𝐧!
I'd do it like Travis recently did..."action ends when I fell like we've topped it off"
That would get more frantic bidding at the start and consistent bids throughout the rest of the time.
I'll bet I could have run it for just a few hours and then had plenty of time to follow up.
There's probably more I'm forgetting.
By Friday evening I wanted to change my name, surgically alter my face and move to a country with no internet.
But I had to shift my mind over to my krav maga brown belt test for Saturday morning.
I HATE letting people down who have confidence in me to do a thing.
The whole point here is I messed up the timing of everything.
Lesson learned.
But I'm still determined to turn this around for the partner.
I do have a group now with almost 100 members...so that ain't nuthin.
Breathe...
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STB Auction Debrief - How to NOT do a $174k auction!
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