Beezid is a big penny auction that isn't as big as BidRivals but is one of the major players in the penny auction industry. Beezid has a major drawback which is most auctions don't offer a Buy Now feature to reduce your losses. However, this gives Beezid more leeway to make auctions more exciting, so you will see lots of Beezid promotions, Beezid coupon codes and free bids.
This week, for the 4th of July, Beezid has a popular promotion that it has used to great success in the past: Get all your bids back! This will run from 9pm EDT on 3rd July to 9pm EDT on 4th of July. Every bid placed in this time period will be returned to your account. This means during this time, Beezid is guaranteed to lose money. So why would it do so?
Let us see what is in it for Beezid (contrary to what you may think, Beezid isn't a charity!) When all bids are returned, there is little risk. This means more and more bidders will buy bids. Remember that the main source of income for any penny auction is bid sales because the selling price is a fraction of the retail price. Thus more and more people will buy bids and in the long run, it is highly profitable.
A lot of smaller penny auctions also try to follow this model of Beezid with mixed results. However, as far as Beezid goes, it seems to do very well with this strategy, especially because it is much bigger and there are lots of bidders on this site.
So if you are a Beezid user, do look forward to this promotion and use it wisely.
This week, for the 4th of July, Beezid has a popular promotion that it has used to great success in the past: Get all your bids back! This will run from 9pm EDT on 3rd July to 9pm EDT on 4th of July. Every bid placed in this time period will be returned to your account. This means during this time, Beezid is guaranteed to lose money. So why would it do so?
Let us see what is in it for Beezid (contrary to what you may think, Beezid isn't a charity!) When all bids are returned, there is little risk. This means more and more bidders will buy bids. Remember that the main source of income for any penny auction is bid sales because the selling price is a fraction of the retail price. Thus more and more people will buy bids and in the long run, it is highly profitable.
A lot of smaller penny auctions also try to follow this model of Beezid with mixed results. However, as far as Beezid goes, it seems to do very well with this strategy, especially because it is much bigger and there are lots of bidders on this site.
So if you are a Beezid user, do look forward to this promotion and use it wisely.
No comments:
Post a Comment