How should I handle marketing for my coin business??

Very up in the air when it comes to coin marketing. As you have heard I want to start my own business in the Coin industry. I would like to keep the marketing, polite and professional/Concise. Something that would reflect a positive feeling. Sometimes it seems like the successful people in the industry have the loudest marketing? I hate to drop a name but look at GSC on the bay. Heck I bought one coin from them, and they flood my personal email with "undervalued coins." Marketing is something that I give a lot of thought to. How will this advertisement make the person feel about the coin? Draw attention? I use to resent marketers. Just look at the whole Alec Baldwin "word with ... not even going to name it" That is so cheap to me. Have you ever had a tasteful marketing experience via eBay or another outlet? Does this mainly rely in name recognition? I mean no harm when I say this, but sometimes I see some marketing on this site that screams low class. As much as I use to resent marketers, I realize that it is an essential function in business.

I think about this for about 30 minutes a day. Multiple ideas. I want to use YouTube in my marketing. I feel like the more you reveal yourself, the more comfortable people will become with you. I try to be transparent in what I say and would like this to reflect in my sales.

So I guess for my own personal business I want Nice Art, Possibly YouTube, Professional, but not screaming adds, I.e.: Undervalued Coins!! Come buy now!! I want JCB Coin to be different.


My other problem is my current situation. I work for a coin/pawn broker who demands maximum profit. That is my job, to maximize profit. Last week I put 4 lots of Mercury Dimes up for sale on eBay. In the advertisement I put "Lot of 50" (Un-searched rolls). The truth is 50 of them were actually searched. The other 3 lots were weighed on a digital scale and thrown into tubes. I actually put an extra MD in there in case the weight was slightly off. In this instance someone is going to get 1 lot of 50 which have actually been searched. I feel rather bad about that.

Please CT/numismatic people, weigh in on opinions. It is the buy who is important here. I will be at the shop in 2 hours, and your input will affect my marketing.

Respectfully,
~Jason Becker

 

Log in or Sign up to hide this ad.

First off, I know nothing about marketing and won't pretend to. But please don't use the GSC way of "marketing". That would so much of a turn off if you do business with someone and then they flood you with other "deals". Simply put, I think you have to figure out what demographic you want to market to and go from there. I think there are very distinct different types of collectors and all will not accept the same system. Of course, this leads into you can't please anyone but you need to find the mass you want to appeal to.

 

SO you admit that you unethically listed a searched roll as "unsearched".
You're off to a great start!

 

Yep... I think most members here won't approve of that "marketing gimmick". I think "honesty" might be a better start. Good luck!

 

The very first thing to remember was something I was told a long time ago "a reputation is a terrible thing to waste". Don't compromise yourself to maximize profit... Doing stuff like that Jason makes you no better then the rest of the hucksters. Profit is profit... But that's not the way to do it.

 

Completely understand. Rookie mistake (the other 3 are not even searched). Just want to let you know I am one of the good guys. That is why I put this post up. For the guy that sent me a negative PM, I am sorry you feel that way.

Finally, I've been selling MD for about 2.50 a piece. A few weeks ago I let 500 go for 1k. The 1 lot of 50 atleast had it's value in silver. Good Day Sir.

 

I appreciate any insight because I do want to have a long term positive name in this business. I am glad I posted this. I have 200 eBay listings to put up for somone that pays me commission on the bottom dollar. I will just have to be 100% ethical and not make these rookie moves.

~Jason

 

Sounds like person you took job with doesn't mind being unethical and dealing dirty. Problem is not with him but how you handle yourself with respect to what You do. You don't have to get all preachy to your boss, but you do have to find how to appropriately assert yourself with your values. I mean how can you expect to run an honest business yourself if you are willing to be shady for someone elses. You might just have to start by saying that you can't ethically create a listing saying something you know is not true.

 

I don't know. I just want to be a collector again. 200 listings!? I think they got the wrong guy here. Nothing about me is dishonest. I got the job because he opened the shop doors 1 hour early and I told him the value of everything he had. I could have scored a 10 dollar gold eagle for dirt cheap, but that is not the kind of person I am. The 1 lot of 50 that came and went sold for silver value! I feel bad, but is there any merit in that I am confessing to this? I do not intend on ever doing this again. Stupid rookie mistake.

The way I handle business is this. I lookup the greysheet value, slip him the greysheet value on a piece of paper, and then close my ears. What he buys it for is his business. I just want to remind people, that this is not the way I am going to run my own personal business.

I have to weigh all of the options. My 3 year old son has to eat, and I have to get experience in this field before I jump in and start a business. Have you never made a mistake before? Boy that PM was just cruel. I don't see a faster way of getting experience in this field than what I am doing now. I spend 12 hours online a day, read coin material, talk to everyone and anyone in the coin industry, and work part time for a pawnshop. All the while going to school for an econ degree.

Packaging, marketing, calls, emails, crazy. LOL bit off more than I can chew.

I have also found that there are people in the business that just do not want to help the new guy. It is like the loud mouth on storage wars. They just do not want to help the new guy. Please have a heart guys. If you are the one who bought that 1 lot with no semi/key dates send me a pm and I will send you a very very nice coin.

What about all of you Gentlemen with money? I do not see anyone else giving coins away in contests or trying to sponsor a YN.

I have almost had it. I suppose I should pay Cointalk 5k, and flood the market with cheap watches!!?

 

I don't think you meant this thread to be about the searched roll, but since you brought it up you should try to make it right. Perhaps you could inform the buyer about the mistake and offer a refund. Maybe you even have to take a personal hit on this. I can only speak for myself, but if I really feel bad about something I try to make it right.

As for marketing, I think if you want to be taken seriously by real coin people I don't think you want to use the term unsearched anyway. Now, I am not a real coin guy but that is just an impression I have gotten, mostly from reading this board over the last year.

All that being said you seem like you are trying to do the right thing and I wish you the best of luck with your new business ventures.

 

Honesty is the best policy, always!

 

Well, you basically jumped into shark infested waters with a bucket of chum. Not surprising you got yourself schooled real quick. Yeah, I know you have to weigh your options but really if that man hired you because of your coin knowledge and he's profiting off that then he will deal with your ethics too. Or he'll can you and youwill be better off for it. You will learn nothing by dealing shady for someone. I'd comment on the I close my eyes remark but don't have a solution yet.

 

Not to be disrespectful, but I think that most of the people that are coin dealers here do not come asking for a business plan, how to market ethically or what should I do about “X…” It seems that most of them are more of the go to guys for those of us with less experience when we are unsure of something that we’ve come across or looking for a second opinion on grading. Keep this in mind. A lot of people that are successful keep their secrets close to them. Look at what you’re doing now. You are selling coins online which means that you’re competing against at least 10 of the other dealers that are on here; do you really expect them to give you all of their trade secrets that they have amassed over the years?

Believe me, I know what it’s like running your own business and how hard it is in the beginning trying to drum up new clients. Why should someone use you over the guy down the street? It’s not just about experience or ethics, what else do you bring to the table? A business is an entity and people need to build a relationship with both you and your company. If someone has one bad dealing with you, anyone that they know will hear about it, if someone has a good dealing with you, most people will never know!

Anyway, best of luck to you.

Bryan

 

haha shark infested waters with a bucket of chum? None of these guys are as obsessive about coins as I am. On top of that I am a 3 time combat vet who was a front line machine gunner in the 2004 battle for fallujah. Not to mention I have played high stakes poker with more money than these sharks can even fathom. I am going to tone down my posts 80% and retreat on this one, but you really have no clue who you are dealing with here. Raise your hand if you can get gold under spot? Anyone? This kind of mean attack on somone who is new to the coin world can not have positve long lasting externalities. I will never ever treat somone that is fairly new to coins with this amount of disrespect. That nasty PM. Dude your lucky you don't live around here buddy. I'd call you out in the middle of a coin club meeting. bucket of chum...

 

You've got the contact information (via eBay) for the person who bought that roll. Contact him/her, explain that one searched roll slipped through, and offer to accept a return or to send something nice in compensation, just as you've offered here.

Really, this is an easy thing to move past. Make it right, and don't do it again. Don't let your current employer turn you into less of a person.

 

You have serious issues. Like Harry Truman said, "If you can't stand the heat, stay out of the kitchen."

 

:hail:
Translation = taking his ball and going home.
Classic Post!

 

Your marketing depends on who you are selling to. If you're selling high end coins it's different than if you are selling junk silver or state quarters.

If you lie for someone else, you're off to a terrible start. You called out another company for their aggresive marketing, but then admit to lying?