Understanding the different types of Listings
Listing are the content types that Media Buyers see when they enter the Adchuuza Marketplace. They essentially describe the contents of the listing, or what is being bought, the price that they will be paying, the Artwork requirements, and any other pertinent element that will allow them to make an informed decision to commit to buying your Adspace.
Listings can either contain 1 items, such as 3 months on a single billboard, or alternatively they can contain multiple items, such as a few adverts within a print publication. A Listing that contains more than one item, is called a Packages.
When it comes to setting your listing price, you have a number of different options. There is absolutely no requirements to sell your Media at rate card prices. You can exercise complete discretion when it comes to setting the prices of your listings. During the creating of Adspace or during the On-boarding process we ask for rate card prices as this allows us to determine if the price of a listing is discounted and these items are visibly distinguished from others. The price of a Listing should always include any production costs, at your standard rate.
These 4 methods by which you can price your Listings are as follows:
- Buy Now
- Auction with a Buy Now option
- Decreasing Price
The differences between these, and when one method might be appropriate over another is detailed below.
An Auction Listing simply has a starting price at which bidding begins. The buyer that has bid the highest at the time of expiry will automatically win the Listing and will then be required to pay for the Listing. The minimum bid increments are current set at R500. We recommend the use of Auction Listing for high quality media that is in demand, and the sale of which is not in the immediate future. This should encourage interested buyer to drive the price up a fair level depending on the quality of your media asset.
Buy Now Listings represent fixed price sales. The price that the buyer sees is the price that they will pay.
An Auction with a Buy Now option Listing is a special case which combines the above two types. As soon as a bid is placed, any option to buy at a fixed price will disappear. This Listing type can be used to encourage buyers to avoid a bidding war and conclude a transaction sooner. The Buy-Now price should always be set above the Starting price, otherwise there is no point in using the Auction aspect of the pricing. We recommend you set it at a level that is perceived to be below where the Auction may end if you would like to encourage people no exercise the option to Buy Now.
Lastly, Decreasing Price Listings have a starting price, and an ending price. Whilst the Listing is active in the Adchuuza Marketplace, the price decreases at a constant rate so that at the time of expiry, the cost of this Listing to an potential buyer will be the ending price you specify. Unsold adspace is water under the bridge, and this pricing tool presents a way to move advertising that may potentially remain unsold. Buyers who see real value will be encouraged to snap up deals before someone else does.
As you can see, these four methods of selling your media inventory offer pricing flexibility and your choice will depend largely on the quality of your media, the type of buyers that are interested in your media, and how much of your media is currently unsold. What works for one media owner will not necessarily work for another. We encourage you to experiment as see what works best for you. We believe that an open, transparent marketplace will allow media owners with a quality product to extract a premium over industry norms, whilst poorer quality offering will need to offer value. It is also in your best interests as a media owners to spend time to best represent your offering when populating your Titles, Adspace and Listing.