How Aucto Helps Industrial Equipment Dealers Succeed with Online Auctions
Aucto’s industrial auction platform offers its users several benefits. We asked one of our long-time sellers, NRI Industrial, as an equipment reseller and machinery dealer, which of Aucto’s features it found most useful to address to their problems when hosting industrial auctions.
This case study reviews key features of Aucto’s industrial auction platform. In particular, how Aucto enables equipment dealers – like NRI Industrial – to utilize online auctions to expand their sales network and add a powerful new revenue stream to their business.
NRI Industrial highlighted four reasons it continues to use Aucto:
- Active Community – Aucto has an active buyer base consisting of more than 85,000 verified buyers.
- Active Marketing – Since our launch in 2015, we have developed strong parternships with number of key industry infleuncers to help promote our Sellers' sales.
- Extensive Reporting – For sellers on Aucto, the reporting features have proven indispensable when gauging the effective of their various digital marketing strategies.
- Thorough Support – Aucto has dedicated
generalsupport, seller support and technical support staff to assist users with their auction events and any issue they may encounter when using the platform.
Table of Contents
- Our Client
- Our Client's Problem
- 4 Things Machine Dealers Love About Aucto
- Our Client's Success
- Consider Online Auctions as a Solution
1. Our Client
NRI Industrial is an equipment dealer that specializes in selling surplus and used industrial equipment from a variety of industrial sectors. Such sectors include, but are not limited to, pulp and paper, oil and petro-chemical, energy, food processing, and mining.
2. Our Client's Problem
Since NRI Industrial’s acquisitions are ongoing, new inventory is constantly being brough into their warehousing facilties. To recover invested capital and to reallocate space for newer acquisitions, NRI Industrial required a sales channel that offered a faster inventory turnaround compared to listing sites such as eBay, Amazon or their own website, https://www.nriparts.com.
As well, occasionally NRI Industrial acquires highly specialized parts or equipment with limited markets; to sell such equipment, NRI Industrial sought a platform that had a global reach to expand their buyer base.
3. 4 Things Machine Dealers Love About Aucto
Aucto’s industrial auction platform offers its users several benefits. We asked NRI Industrial, as a reseller and machine dealer, which of Aucto’s features they found most useful to address to their problems. NRI Industrial’s staff highlighted four main reasons:
- Aucto's Active Buyers
NRI Industrial cited Aucto’s active and global buyer base as its main reason for success on the platform. In fact, Aucto currently hosts a registered base of over 85,000 global buyers. The constantly growing bidder community on Aucto lets NRI Industrial gains access to a fresh pool of relevant industrial buyers with every sale they host.
As well, rather than depend entirely on our existing buyers, Aucto invests heavily in digital marketing to ensure its constantly attracting new buyers to its platform. This especially helps NRI Industrial gain the turnaround time they require to release inventory and storage space, as well as sell more specialized pieces of equipment.
- Aucto’s Marketing Program
NRI Industrial cited many examples where Aucto’s marketing program complemented their own. One example includes NRI Industrial leveraging Aucto's social media presence.
At the time, NRI Industrial’s social media presence focused primarily on its consignment services – not their e-commerce store. As a result, advertising their auctions via their social media profiles would not have been effective.
In contrast, Aucto’s social media profiles reach more than 50,000 people every month. Aucto's social and digitial media presence allow their social media channels to be used as effective advertising platforms. In fact, the last auction that Aucto promoted on behalf of NRI Industrial reached more than 31,000 people through various social and digital media channels.
- Aucto’s Reporting Features
Aucto’s Reporting Features Aucto offers several reporting features that allow users to determine what marketing strategies and tactics generate the highest return on investment. Aucto does this by allowing sellers to track UTM variables on emails, web banners, or any form of digital marketing through its reporting features.
For example, NRI Industrial spent over $7,000 to advertise its auctions in industrial trade publications. Although the publications promised it would drive traffic to NRI Industrial’s sale, there was no measurement tool available for NRI Industrial to determine whether that traffic converted into bidders.
Using Aucto's Marketing Summary, NRI Industrial could determine exactly how many views these publications generated, and how many of those viewers registered for the auction. NRI could even track how many of those registrants won their bids, allowing them to determine how much revenue was generated as a result of advertising in that publication.
For sellers on Aucto, the reporting features have proven indispensable when gauging the effective of their various digital marketing strategies.
- Customer Service & Support
Aucto has dedicated general support, seller support and technical support staff to assist users with their auction events and any issue they may encounter when using the platform.
As well, interested sellers are offered a software demo that explains Aucto’s platform. When interviewing NRI Industrial, its staff relayed how helpful the tutorial was when they were first learning to use Aucto's platform.
As well, when sellers host an auction event on Aucto's platform, account managers review their catalog. NRI Industrial explained that the suggestions that came out of Aucto reviewing an event catalog have always been helpful. Instances include identifying lots that require higher quality photos or better descriptions.
4. Our Client's Success
Below are three of NRI Industrial’s top auctions on Aucto, including the lots sold for the highest amount:
Auction of Major Chocolate Making Facility
- Auction Overall: $455,000
- Highest lot: MYCOM Mayekawa 200VSD 250HP Chiller Unit ($21,000)
Assets from Former Oil Producing Facility
- Auction Overall: $245,270
- Highest Lot: GE 2500HP 4000V-AC 1185RPM8411S 3PH AC Motor ($11,500)
Spare Parts & MRO Auction
- Auction Overall: $96,960
- Highest Lot: Allen Bradley 400A 5KV Medium Voltage Contactor Switchgear ($6,500)
5. Consider Online Auctions as a Solution
"Since registering in 2015, Aucto has become a powerful revenue stream for our business" – NRI Industrial
For machine dealers who suffer from overstock inventory, and especially inventory that is selling slower than expected, online industrial auctions are potential solutions. In fact, as demonstrated with NRI Industrial, online industrial auctions can become a major source of revenue for your business, or complement your existing revenue streams at the very least.
When hosting industrial auctions, for machine dealers, the biggest challenge to overcome is selecting a platform that meets your businesses needs. For a comparision of major online industrial auction platforms, click here. While there are a number of online auction platforms to choose from, Aucto's active buyer community, marketing program, reporting features and support are guaranteed to aid in your industrial auction's success. Consider hosting an auction to better serve your business today; for more information, click here.