National dealer

As I have been accused of writing posts with hidden market research agenda's in them, I thought that I would do it openly this time

What I am interested in is learning of ways outside of the box to promote the hobby.

As some of you know, I provide numismatic items as tips, gifts, promotional ideas, giveaways, and just for fun.

If you were to create a marketing plan for the ANA, without promoting the organization as a whole, but the hobby, what would it be?

Please keep in mind that this is not to promote any specific firm or numismatic study in particular. How can we as dealers or collectors promote our hobby to reach the people that are falling prey to those who would lead them wrong. TV - Mail Order - areas like that.

RePeat

ND,

I have almost no experience in the numismatic world nor do I have a degree in marketing. However, I do have experience as a graphic designer and I have (what I would like to consider) a creative mind. I'm currently working with Georgia Pacific, they make tissue, towel and building products (i.e. Quilted Northern, Brawny, Angel Soft, Vanity Fair, etc.) and I work with the marketing department on a day-to-day basis.

One of the reasons I want to become a coin dealer like you, is because I want to take on the same challenges that you are; find a way to market this industry to those that know nothing about.

One observation that I can make (as someone looking in) is that the general public is never introduced to the hobby via commercial marketing. Most people that become interested are those recruited from friends or family members. Grant it, with the advent of the State Quarter program, I'm sure that sparked many non-collectors to become collectors, but other than that, I don't see anything else being done to promote your industry.

Here are the categories that I feel are the most important aspects to your profession as a coin dealer (again, as someone looking in):

1. Coins can be professionally graded (reducing* judgmental grading standards).
2. Coins are an art form, just like painting, sculpture, literature, etc.
3. Coins have great historic and educational value.
4. Coins have precious metal value (those made of precious metals that is).
5. Coins have "treasure appeal". Many people, especially children, like the idea of owning their very own "treasure".
6. Coins make great gifts even for non-collectors and I don't think people look at them as "gift material".

***I know there are a handful of grading companies that have been around for a couple decades, but I don't believe they're at a standard to which I would like them to be. I've heard too many people complain about the judgmental grading differences and services to which these companies adhere by, and I've only researched the industry for a couple of weeks. I hope one day these companies will be as sophisticated as those that grade precious gems. I want to have a detailed description as to why my coin was graded the way it was. I want to see exactly which flaw(s) caused my coin to receive a MS 63 instead of MS 65. I think it could be done and that it would greatly improve collector confidence with their purchases. For those of you that sent diamonds to be graded know what I'm talking about. I may be completely of base, but I will plead ignorance if people don't agree

I know I haven’t given any ideas, but that's because I don't know as much as I would like to. Over the next few days/weeks/months I will be exhaustively researching this industry and determining what I would do with regards to marketing. I will be glad to share some of my ideas with you and everyone here.

Anyway, I can't write everything that I want to right now (I'm at work), so I will follow-up with more later.

Thanks
Eric

Andy

I think that the two have to be linked. For coin collecting to take off there would have to be a central organization that people could focus thier attention to and then be given different paths to follow in regards to coin collecting. Any more information then that would deserve a consulting fee

__________________
We reap what we sow.

National dealer

Well the ANA is a central organization, but look at their membership count. Pretty low.
How many people buy coins yet never heard of the ANA?

National dealer

Maybe I need to be more specific.

This is what I wish to accomplish. How do we as a group get the word out that there are other options other than TV or mail order. How do we get people to join the ANA, forums, or other numismatic ventures where education is the key.

National dealer

Here is the problem as I see it.

Many thousands of people attend shows, yet the promoters such as the ANA take your name and address and do nothing with it. How many of you attend a show and never here from the organization again? Since it appears that the powers that be do not care to promote our hobby let alone their particular organization, how can we as a group accomplish this?

Andy

Ah then if your idea is to link current coin collectors to ANA then spam may be your answer. Get peoples e-mail address at the shows, from log ins on websites etc... Then just make the spam and the ANA website appealing to the eye and push investment as a hook over education. Once you got them then have your forums, educational links as side pages. Remember most people prefer to have short attention spans and want pretty images to look at.

__________________
We reap what we sow.

RePeat

Marketing costs money. Plan and simple. This industry just doesn't focus on this aspect of business. Example, rare coins can sell for as much as some homes, yet no one hears about it, unless you belong to some "secret coin society". You see real estate ads EVERYWHERE, so why are these particular coins not advertised to the public similarly? Auction houses, coin firms, investment firms, dealers, etc, just don't advertise (well, not to the puplic at least). We, general public, will never become aware unless people spend money to make it happen.

National dealer

RePeat,

You hit the nail on the head. Advertising doesn't always cost money though. That is the part that I am looking for. How do we individually work towards a common goal?

RePeat

Direct mail, magazine ads (non-collector magazines), billboards, websites (professionally designed that is), collateral, e-mail, web banners, news papers, etc. The options are endless, just depends on the money one has to spend. Once the budget is determined, one could come up with a creative way to market such ideas.

National dealer

Come on now, you are on the right track, just think outside the normal, traditional ways.

RePeat

True, not all advertising costs money, but your options are handicapped. The most popular way to adverstise, without spending money, is word of mouth. Unfortunately, I don't think that will provide the results you are looking for. It would also require everyone within the industry to collectively spread the word. I want to sit on this for a little bit and I will get back to you on thoughts that come up.

National dealer

Magazine articles? Newspaper articles? Flyers? All can be done for free.

RePeat

Yes, but usually in exchange for something. Quality advertising is not free. But there are ways to cut corners.

Can you narrow your questions at all? There are still too many variables. Are you looking for creative ways to market coins at shows/conventions?

Also, to help me better understand; please explain why coin dealing business's don't advertise outside of the coin community? It just doesn't make since to me. You keep saying that you want to find something considered "outside the box", but I don't think your industry even thinks "inside the box". There are some tried-and-true advertising avenues that would help educate the public about this hobby, but no ones utilize them. Is it because your industry likes to look at itself as some secret society? It feels that way; especially for those people purchasing coins that cost more than my college education.

Regarding ANA, I think ANA needs to step-up to the plate, same with the US Mint. I don't know a whole lot about ANA, but I fail to see what they provide to your industry, considering they're a "flagship" icon. It just seems like a hub for information, nothing more. And they really need to do something with that web site. Sorry to say, but it's awful. However, I do think they have a wonderful foundation to work from, they just need to spend some time and money creating a better "identity" which focuses not only on it's current members, but those that no nothing about numismatics too.

Andy

Guys, e-mail is free. All you need to do is build a data base of addresses. Spam cost hardly anything as well but if you want to be less intrusive stay with obtaining e-mail addresses off of other websites and sign-ins at shows. Then make the hook appealing and the product, website, worthwhile.

__________________
We reap what we sow.