other Making Bido Better - Introducing BidoPrice, Vote For Profits, Negotiations, And More

This is a discussion about another domain name register/company not listed.
Status
Not open for further replies.

MediaHound

Former DNF Admin
Joined
Feb 25, 2004
Messages
4,156
Reaction score
3
Feedback: 106 / 0 / 0
It’s finally here! Bido is excited to unveil quite a few changes to our auction platform. Only moments ago, we overhauled many things to make Bido better, and we’re enthused to share those changes with you. Thank you in advance for reading this message. Let’s get started:

The first of these changes is the introduction on Bido of something we call "BidoPrice". It’s a new pricing format on Bido. Your BidoPrice is the absolute minimum price that you will accept in order to send your item to auction. It’s “The Price Of Engagement”. When you select your BidoPrice, you should select an appealing price level that will encourage bidders to become engaged and participate. It’s when bidders initially become engaged in an auction that will build pressure to the point where it gets heated and the auction is maximized for the seller. A successful auction has not one bidder but two or more. Use your BidoPrice to encourage bidders to engage early and attract subsequent bidding wars. When you submit your inventory for voting, the voters now vote on two things: the item (domain) itself, in relation to it’s BidoPrice. Your BidoPrice acts as a reserve, and as such we are essentially introducing voting for Reserve auctions. But don’t think of it just as a Reserve, think of it as the price of engagement, and therefore select your BidoPrice accurately to encourage participation - by the voters, as well as the bidders. Learn more here.

The second of these changes is something we call "Vote For Profits". There were several weaknesses of the previous voting system on Bido, mainly: incentive for voters to participate. The fatigue voters experienced was unjustifiable. In addition, there was little reason for voters to share with other people what they were voting on, and worse - little reason to come back and continuously vote on items to go to auction. We feel that now, however, we brought a change that will address all of those core issues. Bido now makes you a partner in the profits for voting on auction inventory that sells. We call it "Vote For Profits", and we’re looking forward to paying you a lot of money. Now, when you vote on the submitted domains to go to auction, select the domains that you feel have a BidoPrice that’s likely to sell. If the item gets enough votes and makes it to auction, and the auction sells with a winner, you’ll get a percentage of the sale amount. The earliest voters earn the most. The funds are given by Bido from the typical Bido commission. Learn all the details here.

Buy It Now Pricing - You may now submit your inventory with a BIN (Buy It Now) price. While Bido encourages a price of engagement, we also realize that some sellers have a desire to include a Buy It Now price. The Buy It Now price must be double or more than the BidoPrice. That means your BidoPrice must be half or less than your BIN price. The cost to add a Buy It Now price to any listing is 1 Bido Credit ($8.88 each, discounts when purchased in bulk). A buyer may exercise the BIN (Buy It Now) option even before the item goes to auction, while it’s still up for voting. If an item makes it to auction by being voted in, the BIN option still remains. However, in an auction, the Buy It Now option is removed if bidding becomes within 25% of Buy It Now price.

In this release we also introduce Negotiations to Bido. Buyers and Sellers are now able to negotiate on items before they go to auction. In addition to accepting and countering offers, sellers are able to push any item to auction using the Buyer’s offer as a bid. To get started, visit the BidoPrice tab, and if the BidoPrice isn’t acceptable to you, you may click the thumbs down icon to indicate to the seller that the BidoPrice is too high, and attach an offer.

Autolisting of Auctions with Preliminary Bids. Inventory on Bido that gets a Pre-Bid while still up for voting will now automatically be setup for auction. If the Seller has “autolist” enabled from within their Selling Preferences, the timeframe from that setting will be used. If the Seller does not have autolist enabled, the auction will be scheduled for auction 7 days away, in the first open slot after 1PM Eastern. If the date falls over a weekend or a holiday, the auction will skip forward to the next available day. Bidders instantly know when they place their Pre-Bid the day and time the 1 hour auction will be held, as it is instantly displayed on their screen. Previously, if a Seller did not have autolist enabled, that Seller needed to pick their date and time of their auctions that got preliminary bids, and that step could cause some unnecessary delays. Now all auctions with preliminary bids will be setup automatically, so make sure your inventory list is accurate and up to date. You may check your submitted inventory from here.

The commission to sell on Bido is now 10%. The management fee for buyers has been eliminated. Previously the commission was 8% and previously, buyers paid a management fee on transactions. Transactions that are already in process and were already listed on Bido are subject to the old 8% commission, while new submissions are subject to the new commission.
Thank you very much for reading our message to you. If you have an idea for Bido or some feedback for us, please visit Bido.com/Feedback and please let us know. While you are there, you may vote up ideas that other people have submitted to Bido.

In addition to the large changes mentioned above, there are myriad changes peppered throughout the Bido website. We’re committed to your success using the platform and we hope you enjoy the changes. Please get started, experience the changes, and submit your inventory at this time.

The Bido Chatroom is now open for your participation, hope to see you there. Thanks for your support and for reading along.
 

H2FC

Level 7
Joined
Apr 12, 2006
Messages
920
Reaction score
1
Feedback: 6 / 0 / 0
too complicated for the average domain seller....ever hear of KISS?
 

GeoOwners

Level 6
Joined
Feb 7, 2006
Messages
656
Reaction score
33
Feedback: 33 / 1 / 0
All good stuff imo...I give you guys credit for always working on new ideas at Bido.


.
 

MediaHound

Former DNF Admin
Joined
Feb 25, 2004
Messages
4,156
Reaction score
3
Feedback: 106 / 0 / 0
@H2FC - its different, thats true. We aim to continue releasing material to educate people how to use Bido, it does require some attention and a learning curve. If you have some specific suggestion, please by all means let us know either on the thread or here:
https://www.bido.com/Feedback

@GeoOwners - thank you, that means a lot to us.
 

iBizStart

Level 8
Joined
Feb 12, 2003
Messages
2,234
Reaction score
24
Feedback: 51 / 1 / 0
Going to agree with H2FC. I stopped going to bido a long time ago because it got way too complicated and just way too many things on there.
 

britishbulldog

DNF Addict
Joined
Jul 3, 2005
Messages
2,375
Reaction score
6
Feedback: 11 / 2 / 0
Yeah and the best thing is you cant even do a simple thing like view the domains you have prebid on......kinda crazy considering they keep on making it more complicated instead of keeping it simple and that's where bido's downfall will be.
 

Theo

Level 20
Joined
Feb 28, 2004
Messages
30,304
Reaction score
2,184
Feedback: 723 / 0 / 0
The way I would rewrite the copy is how credit card companies do it:

Left side - Until now.
Right side - From now on.

It'd make it easier to appreciate the obvious benefits of using the Bido platform.
 

britishbulldog

DNF Addict
Joined
Jul 3, 2005
Messages
2,375
Reaction score
6
Feedback: 11 / 2 / 0
The way I would rewrite the copy is how credit card companies do it:

Left side - Until now.
Right side - From now on.

It'd make it easier to appreciate the obvious benefits of using the Bido platform.

But do they listen to their members ?
 

MediaHound

Former DNF Admin
Joined
Feb 25, 2004
Messages
4,156
Reaction score
3
Feedback: 106 / 0 / 0
Of course we listen to our members, its why we are active in the forums, blogs, and we even have an interactive feedback portal where members are able to see other suggestions and vote them up. It's located at: https://www.bido.com/Feedback

There is a lot of information to present, and its no secret that Bido has a little bit of a learning curve. We're always working to make it easier to understand while relaying the entire message.

@britishbulldog - we have something called a "watchlist" that is coming soon, it's there where you will be able to keep track of items you placed a prebid on, keep track of other items of interest, etc.

Keep the feedback coming, really. We appreciate it very much.
 
Status
Not open for further replies.
Top Bottom