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Q: How does the auction work?
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A: Advertisers start the process by
creating an auction:
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1. Advertisers select their auction
criteria including:
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-Format(s)
and Market(s)
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-Demographics
(age and gender)
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-Days
and Dayparts
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-Maximum
allowable CPM
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-Spot
length
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2. Advertisers upload their spot(s)
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3. Funds are cleared prior to the auction |
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4. Email invitations are sent to stations that match
the selected market and
format on Wednesdays at 1 PM (PT) and
Thursdays at 7:50 AM (PT) |
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5. Invited stations can bid in the auction on
Thursdays between 8 AM and
Noon (PT)
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6. Spot rates are confidential
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7. Stations that participate in the auction are
notified of the results by email
at 1 PM (PT)
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8. Winning stations download the spot(s) from the
Bid4Spots website and
traffic accordingly
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9. Spots air the following broadcast week (spots
cannot be pre-empted)
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10.Payment is sent upon verification of affidavits
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Q: What is a reverse auction?
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A: In a standard auction, the buyers do
the bidding and the highest price
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wins. In a reverse auction, the sellers do the bidding
and the lowest price
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wins. With Bid4Spots, advertisers are the buyers,
radio stations are
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the sellers, and the “price” is the CPM.
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Q: Will advertisers expect me to offer the
same rates every
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auction or outside of Bid4Spots? |
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A: No, because your rates are always
confidential. The Ranking Index
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masks the spot rates that you bid. Advertisers will
not know the rate bid
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so they won’t be able to expect or ask for that rate
in the future.
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Q: How will this affect my relationship
with my existing
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advertisers
and/or their agencies?
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A: Bid4Spots will not replace scheduled
buys. It is used for buying and
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selling last-minute inventory only. Bid4Spots does not
allow advertisers
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to specify stations. If advertisers want to run on a
particular station,
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they must place a scheduled buy.
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Q: How do I get started?
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A: Click the “Sign Up” link. Then follow
the step-by-step instructions to
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register. You will receive an email confirmation. You
will then receive email
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invitations to auctions when an advertiser selects
your market and format.
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Q: How long does the auction last?
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A: Bidding takes place on Thursdays from 8
AM to Noon (PT).
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Q: Do I have to participate every week?
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A: No, participation is optional. You bid
for spots based on your station’s |
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inventory.
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Q: My station is Arbitron rated, but I
don’t subscribe to Arbitron.
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Can
I participate?
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A: Yes, you can participate. Bid4Spots
only requires that stations are
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Arbitron rated within the designated metro area.
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