25 November 2012
Recently visited a newer penny auction site, 1pennywin.com. So far there seems to be some positive buzz on how to engage, entertain, and retain bidders for auctions. Focus on customer service, communication and a level playing field for all players seem to be priorities at 1pennywin.com. Unlike most startup penny auction sites, which fail miserably at these qualities, 1pennywin has figured out how to excel.
1. 2-level Referral system : Each time you refer someone to 1pennywin, you get paid for every bidpack they purchase(forever, not just the first bidpack purchase). Payment is in the form of 10% Bids in your account of the bidpack they buy, or equivalent dollars in PayPal cash. Now if that person refers a new player to 1pennywin.com, you then get 5% Bids in your account of their bid purchases, or cash equivalent. Again.. FOREVER.
2. Unique auctions : 1pennywin has some very unique auctions. I won't go into them here because the rules are complex for each, but many of these auctions payout multiple winners, and some of them return your promotional bids back to you.
a. Odd Numbers pays 1,2,3,5,7,9 place bidders. These are unique bidders.
b. 10cent auction pays a dollar for each multiple of .10 in the auction, and $10 for each time the auction reaches a multiple of $1.00.
c. $2/bidder auction, which pays the winner in Amazon credit depending on how many bidders enter the auction. So if 10 bidders play the auction, the winner will get $20.00 Amazon Credit.
3. WinLimit Levels: Multiple limit levels based on time and dollar amounts.
4. Tag Limits: Does the Tag and Defend feature ruin your auction site, or irritate you as a bidder? 1pennywin has implemented tag limits. Limiting bidders how many auctions per week they can place the first bid.
5. Beginner/Novice Auctions: Again, another way to keep the experienced bidders from taking all the good stuff.
6. Free Bids have valued: 1pennywin's BuyItNow feature allows you to use 75% of your paid bids ($0.75/bid) toward the item's BuyItNow price. The BuyItNow price on 1pennywin reflects a price just slightly above the current retail value of the item. It is not based on the MRSP of the item, but based on what you would find at Amazon.com. Here's the kicker.. if you win promotional bids at auction, or win them some other way, these are worth $0.30/bid toward BuyItNow, unlike other sites who give them no value. You cannot buy promo bids, and they are only available by joining auctions with them attached.
7. Communication and Transparency: 1pennywin's owner, Tim Russell, communicates to his players on almost a daily basis with site news. Many times its about the day's new auctions, but sometimes he gives you insight on what it takes to run a penny auction as an owner. 1pennywin utilizes Your-PA Script which has one of the most transparent features around. If you like AllPennyAuctions, then 1pennywin is just for you. All bidder data is right there on the site. Complete win and auction history. Do you homework without speculating on the accuracy of APA.