Through the years, Fasig-Tipton, a thoroughbred auction company of Lexington, Ky., has maintained its position in the horse industry by updating its methods. That’s why QR Codes and videos are now part of its marketing program, says Max Hodge, the company’s director of client services. New technologies have helped Fasig-Tipton increase its share in the thoroughbred auction market—up from 25 percent in 2006 and 2007 to 32 percent in 2009. Hodge says even in this economy, his company’s ability to adapt to customer needs has helped Fasig-Tipton maintain 30 percent of the market share since 2010.
Fasig-Tipton, a Lexington, Ky.-based thoroughbred auction company and the subject of our cover story, does something fascinating to me: It mails catalogs. You know, those old paper and ink things that Aaron Montgomery Ward invented in 1872—depending on your age, you may have used the J.C. Penney or Macy’s catalogs to make up Christmas lists, buy school clothes or swat very large insects. (The things were the size of phone books!)