Microbid.com is a unique crowd-auctioning platform where anyone can turn anything into a crowd-auction that gives the winning bidder the option to buy it for 1% of the price.
This type of "system" could help lots of different types of people and businesses if you dig a little deeper. Here are a few examples...
1. Customers, Consumers & Shoppers, plus regular, everyday people - who wouldn't want to be able to buy stuff for 1% of the price?
2. "Sellers" (who want to post an Auction) - ie. People, Brands and/or Businesses who have unique and/or high demand stuff to sell, like tickets, collectibles, etc.
So many people are holding on to things that are maybe valuable and dear to them - that they value a lot, but have been willing to part with for sometime if the price is right. However, people always tend to put a higher premium on things that they own than others do. Lots of times it's all about finding the right buyer though, who's willing to pay what they want to get in return for it.
Like trading cards for example - or really any collectible. Even tickets to Broadway, Music Concerts, etc.
Microbid allows you to set the price you want and you get it not just because one person is willing to pay what you want, but because a lot of people are willing to "micro" bid on it - to potentially get it for 1%. So, it's a win-win for both parties.
3. Businesses, Brands, Services etc who have their own services and/or items to sell via Auctions which essentially gives potential customers the chance to get stuff for 1% - a way to build a way more massive customer base....
- ie. everybody isn't ready to buy right now.
So by offering the 1% option with optional loyalty offers/deals for X amount of bids - businesses can potentially build a massive new potential customer base of people who bid on their Auctions.
And, we have an awesome, one of a kind feature coming soon when we drop the Microbid Mobile App.
It's something we already do and have, we're just building it into the Microbid App. It's free "Rich" Push Notifications - so "Sellers", ie. Businesses, Brands, Retail, etc. will be able to send Pushes, Emails and/or Text Messages TO all their Bidders - for free (though there is a pass-through cost for the Text Message option from our partners Twilio and Sinch).
One of the things we wanted to do with Microbid was make it a platform that brought some quality and trust back to the whole Marketing and Online Advertising process.
So much of "traffic" is now bogged down with AI and Bots that you just don't know what you're paying for any more - and you keep seeing these reports about how many of these types of Accounts and "Farms" are on all the famous social platforms where people advertise that you just have to assume that those things are affecting the pricing and quality of traffic you're paying for too.
By, centering "reach" around Auctions - and specifically Auctions that people have to bid on, you create an environment where you know the traffic is real - or you can simply focus on the Bidders' bids exclusively if you want to be really sure the traffic is real.
Then, by giving potential Customers a way to engage, learn about and buy your item, good or service for 1% of the price a Brand, Business, Company or Service could potentially reach way more of your target market than you currently have.
Think about it. How big is your current, target market? And, how much of that market are your Customers right now?
If your price(s) was 1% (ie. 99% less) - do you think a lot more people would try it (ie. whatever you sell)?
And, if you were willing to offer some sort of Deal or Promo Code if Bidders reach a certain amount of Bids - then it's a win-win for both them and you. They get to give themselves a chance at getting (ie. buying) your product, item, good or service for 1% if they're not ready to buy at full-price yet - and then they can sort of "pay" on it (in bids) over time in exchange for a discount for something that they may be planning to eventually pay for or get anyway.
We plan to introduce an Auto-Bid feature that streamlines this kind of thing soon. It's in process and 85% done.
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On another note - to dig into the potential numbers and unit economics - consider this...