Bid4Spots Launches PowerBidder
Bid4Spots, a pioneering online reverse auction marketplace for unsold radio ad inventory, announced the launch of PowerBidder - patent-pending technology that expedites the bidding process for radio stations. Bid4Spots made the announcement at the NAB Radio Show, here through September 22.
The new PowerBidder tool enables scalability so that general sales managers with multiple stations can enter their rates on one bidding screen and within seconds apply them to multiple auctions. In the Bid4Spots model, advertisers create auctions early in the week for ads they would like to run the following week; radio stations bid against each other (bidding the price down) to win an advertiser's spot. The more auctions in which stations compete, the better their chances of winning auctions and selling last-minute airtime.
In a separate announcement, Bid4Spots marked its first year in operation with a series of additional watershed achievements. On this anniversary, the company announced that its clients have created 1, 000 auctions. At the same time, Bid4Spots has reached the $2 million milestone, awarding auction winnings with that aggregate value among its participating radio stations.
With PowerBidder, sales managers enter the total number of radio spots they wish to sell across any number of stations, along with gross dollars per spot for each daypart. PowerBidder automatically determines which ads the stations should bid for to sell the most inventory.
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