Here's How It Works...
- Your Radio Station sales team contacts clients who will sponsor
an auction item - for example, a $2000.00 air conditioner. In return,
this client will get $2000.00 worth of advertising on your radio station,
web site or during a special event.
- Your Radio Station can create a colorful "auction guide". This guide
shows a photo, description and retail value of each item. The guide
is delivered to homes and will be a "long-lived" item, as it remains
at hand for the next week while bidders browse items and bid when
the auction begins. The sponsor of each auction item gains valuable
exposure for their product or service and your Radio Station enjoys
a buzz of activity leading up to and during the Radio Station Auction
- Items to be auctioned are added to the on-line Radio Station auction system, again showing a photo, description and the retail value of each item. Bidders can browse items on-line or in the auction guide before the auction opens.
- As the auction nears its launch, a call center team mans a phone-bank. They are ready to set up accounts, accept phone bids and enter them on behalf of bidders without Internet access. For bidders with Internet access, Auction-Media's powerful Radio Station Auction software allows bidders to open their bidding accounts and browse on-line in real-time.
- The auction opens at a pre-determined time. The bidding begins both on the auction web site and by phone. Thousands of bidders see your Radio Stations auction guide, visit your Radio Stations web site, visit the Radio Station auction web site and see the items sponsored by your advertising clients. The auction software tracks bids for each item and displays the leading bid for all to see. Bidders return to the site to browse, and re-bid on their favorite items.
- The auction can run for any length of time (typically 6 -10 days) and be automatically closed at a pre-determined time.
- At auction closing, a winning bid report is created and winning bidders are notified by e-mail and telephone. Auction items are paid for and winning bid certificates are issued. No items leave the participating businesses premises until the winning bidder has remitted their paid winning bid certificate to the business.
- The Radio Station fulfills its obligation of advertising dollars
equivalent to the item retail value, but also reaps the rewards of
gaining thousands of listeners, web-site visitors and advertising