Bid4Spots Launches Marketplace For Last-Minute Online Display Media
November 10, 2010 at 7:17 AM (PT)
BID4SPOTS.COM has launched its Online Display Media Marketplace. The new marketplace follows on the success of the company's Online Radio Media Marketplace, which launched in 2004 and has had the participation of 2/3 of all rated stations in the U.S.
Beginning TODAY, publishers and advertisers can sign up for the first weekly auction, to be held live online on JANUARY 6th, 2011 from 8a-12p PST. Buyers (advertisers) set a maximum price that they will pay per thousand impressions (CPM). The buyer then sets their campaign parameters, such as target market, audience and category, which help determine the number of sellers (publishers) that will be invited to participate. When the auction begins, the invited sellers start aggressively bidding to monetize their unsold inventory for the following week. Since there are multiple sellers competing against each other, they continue to lower their prices in order to win the buyer’s campaign dollars.
"We differentiate ourselves by being the only live online reverse auction for last-minute media, which gives publishers control over their inventory," said BID4SPOTS Chairman/CEO DAVE NEWMARK. "BID4SPOTS limits the buys only to the next week, respecting that publishers' wish to use qualitative aspects of their story when making regular sales farther out than the following week."