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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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-Categories,
Formats, Markets
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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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2. Advertisers upload their creative
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3. Funds are cleared prior to the auction |
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4. Email invitations are sent to media sellers that
match the selected criteria
on Wednesdays at 1 PM (PT) and
Thursdays at 8 AM (PT) |
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5. Invited media sellers can bid in the auction on
Thursdays between 8 AM
and Noon (PT)
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6. Rates are confidential
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7. Media sellers that participate in the auction are
notified of the results by
email at 1 PM (PT)
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8. Winning bidders download the creative from the Bid4Spots website and
traffic accordingly
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9. Schedules air the following broadcast week and
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,
media are the sellers,
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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. Advertisers will not know
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the rate bid 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 specific media properties. If advertisers
want to run on a
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particular station, 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
criteria that matches your designation.
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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 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. Bid4Spots is currently only
working with Arbitron rated stations.
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Bid4Spots will update teh system with the current Arbitron diary & PPM data
withing 1 month of its release.
For stations rated in only 2 books, Bid4Spots will use the most recent book.
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If a station is not Arbitron-rated, we still encourage
them to sign up. Bid4Spots is in the process of developing a plan to include
non-Arbitron-rated stations in the future.
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Subscription to Arbitron is not required to
participate in Bid4Spots.
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If a station is rated in more than one market,
Bid4Spots automatically uses the higher-ranked market when determining the CPM.
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Markets include stations based on Metro Survey Area
results (rather than Total Survey Area).
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