Case Study |
Case Study: Binya Meteorite
Thought Bubble was engaged to develop a project marketing plan for the sale of the rare Binya Meteorite. The plan recommended a particular sales strategy to maximise the item’s value realisation. This strategy was supported through press advertising, direct mail and media relations, a dedicated web site and resources.
Objectives:
- To devise a sales and marketing strategy for the rare Binya Meteorite to assist in achieving a fair market value for the item; and
- To promote the sale of the rare Binya Meteorite by Lex Simshauser Partners, positioning the company as a niche asset realisation and auction house.
Challenge:
The Binya Meteorite is protected under the Protection of Movable Cultural Heritage Act (1986) and can therefore not be exported. This would most certainly limit bids from prospective international buyers and potentially reduce the fair market value.
A secondary challenge was timing the campaign and close of Expressions of Interest to fit in with the Australian Government’s cultural gifts program so that prospective buyers had an opportunity to seek funding /grants for the purchase of the Binya Meteorite by the due date.
Campaign Strategy:
Targeted sales strategy supported through:
- Press advertising
- Direct mail
- Media relations
- Online resources
Outcome:
- Expressions of interest: Australia and international
- Extensive media coverage, both nationally and offshore
- Issues / sensitivities managed to achieve balanced reporting
- High direct mail and press advertising response
- Web discussion forums held by the international meteorite community