BunPig.com: A Living Experiment for the Success of Honest Penny Auctions
Is it possible for a new Penny Auction site to survive without cheating bidders? That is a question that is very much on the minds of the founders of the new penny auction site BunPig.com. That is because they are entering the Penny Auction world with a promise to run a 100% honest site, with no bid bots or shill bidding. With so many sites that resort to such behaviors, especially in the beginning, they are banking on the idea that honesty and profitability can go hand and hand.
It takes money to make money, the old adage says, but that is not wisdom that many new penny auction sites carry into their business. Running a Penny Auction site is seen as a way to make a bunch of money easily, with nothing more than a computer and some purchased software. But old adages stick around for a reason. To build a reputable site with dependable traffic, there needs to be investment in programming, marketing, customer service staff, and product. Keep this in mind when choosing a penny auction site, and do a little research into the commitment and dependability of a site before diving in.
The time involved in developing a customer base is a real cash investment that many auction sites don't predict. Everyone has a basic understanding of how a penny auction is supposed to work: the auction winner is going to walk away with a really good price, and that the penny auction house is going to lose money on the deal. If the auction site is ever going to make a profit, many other users have to place bids and lose. A new site doesn't have hundreds of customers yet, so initial losses will not be offset by bid sales. Starting up a new auction site, like BunPig.com or many others, requires the site to lose money for a while they gain enough notoriety to make money. The pressure to use phantom bidders to drive up prices and forego this early loss is significant, and it is worth pondering how many sites give in.
But couldn't an Adwords account be used to drive all the necessary traffic to the site, assuring there were plenty of people for profitable auctions? Sure, but that would cost money. There is no limit to how much you can spend on marketing to drive traffic. And no guarantee that people will actually spend any money once they see you site. So site owners are faced with the need to invest once again, and many opt to go with the easier, cheaper, and more guaranteed method of simply cheating with bid bots to avoid losing any money.
Customer Service is an investment, and nowhere more so than with a startup honest penny auction. The happiness of every customer is paramount, and retaining customers is really important. The temptation to shill bid is strong, because it gives sites the added cushion they need to ignore rather than accommodate customers who are not satisfied. Honest sites do not have the ability to turn their backs on bidders, and that is one more reason that it might be hard for them to make it.
With all the factors pressuring sites to bend the rules, it is no wonder that so many sites end up on the wrong side of the cheating fence. But keeping an eye on some honest sites may reveal that some might have a chance after all. If we all gave the best sites our business, good, honest penny auctions would be the rule and not the exception.
It takes money to make money, the old adage says, but that is not wisdom that many new penny auction sites carry into their business. Running a Penny Auction site is seen as a way to make a bunch of money easily, with nothing more than a computer and some purchased software. But old adages stick around for a reason. To build a reputable site with dependable traffic, there needs to be investment in programming, marketing, customer service staff, and product. Keep this in mind when choosing a penny auction site, and do a little research into the commitment and dependability of a site before diving in.
The time involved in developing a customer base is a real cash investment that many auction sites don't predict. Everyone has a basic understanding of how a penny auction is supposed to work: the auction winner is going to walk away with a really good price, and that the penny auction house is going to lose money on the deal. If the auction site is ever going to make a profit, many other users have to place bids and lose. A new site doesn't have hundreds of customers yet, so initial losses will not be offset by bid sales. Starting up a new auction site, like BunPig.com or many others, requires the site to lose money for a while they gain enough notoriety to make money. The pressure to use phantom bidders to drive up prices and forego this early loss is significant, and it is worth pondering how many sites give in.
But couldn't an Adwords account be used to drive all the necessary traffic to the site, assuring there were plenty of people for profitable auctions? Sure, but that would cost money. There is no limit to how much you can spend on marketing to drive traffic. And no guarantee that people will actually spend any money once they see you site. So site owners are faced with the need to invest once again, and many opt to go with the easier, cheaper, and more guaranteed method of simply cheating with bid bots to avoid losing any money.
Customer Service is an investment, and nowhere more so than with a startup honest penny auction. The happiness of every customer is paramount, and retaining customers is really important. The temptation to shill bid is strong, because it gives sites the added cushion they need to ignore rather than accommodate customers who are not satisfied. Honest sites do not have the ability to turn their backs on bidders, and that is one more reason that it might be hard for them to make it.
With all the factors pressuring sites to bend the rules, it is no wonder that so many sites end up on the wrong side of the cheating fence. But keeping an eye on some honest sites may reveal that some might have a chance after all. If we all gave the best sites our business, good, honest penny auctions would be the rule and not the exception.
About the Author:
If you are trying to find an honest penny auction site, BunPig.com is a really good place to start. They have one of the best new penny auction sites anywhere, and their integrity is beyond question.
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