Internet Marketing Business Strategies

In September 2010 SFI launched Pricebenders penny auctions on its TripleClicks ecommerce website. Tripleclicks Pricebenders penny auctions feature brand new brand name merchandise, gift cards, silver coins and bullion bars, and more at prices that start at just one cent. Auction winners usually get goods at prices that are far below retail.

Each time someone bids the price increases by one cent until the timer counts down to zero. The amount of time available for someone to bid usually starts off at 4 minutes. As the price rises to certain levels the time window automatically shortens to 3 minutes, one minute, 45 seconds, 30 seconds, until no more bids are received and the time reaches zero. The last (highest) bidder wins the product for the stated price.

Shipping and handling is free.

It is important to understand that each bid costs a few cents. “TCredits” are used to bid on Pricebenders™ penny auctions. TCredits can be purchased on the Tripleclicks website in packs of 1, 3, 12, 50, and 200… and for as little as 29 cents a credit.

Bearing that in mind, here are some quick tips based on my experience with Pricebenders penny auctions:

1. SAVE YOUR TCredits

TCredits cost money, so don’t waste them! For example, if two or three people are bidding like crazy, don’t try and compete with them. Let them be the ones who use up their TCredits – not you! Save your powder and wait until they drop out. Then, only bid if the price is still a bargain.

2. HOLD FIRE!

Wait until the last 5 seconds before bidding! Somebody else might bid instead of you – saving you a TCredit and keeping the auction open!

3. WORK OUT YOUR ENTRY AND EXIT PRICE

Don’t spend too much too early. A few early bids are okay during quiet auction times, but otherwise, it’s best to wait, and set your own entry and exit limits. Busy auctions often reach their climax between $5 and $10 when early bidders run out of TCs…

4. HAVE AN EXIT STRATEGY

You can’t win every time, so set a limit on the number of TCs you’ll spend on each auction. Winners always accept that they will sometimes lose, so WINNERS ALWAYS HAVE AN EXIT STRATEGY. Follow your exit strategy, not your emotions.

5. HANDLE “WBF” AUCTIONS WITH CARE!

WBF = Winner Bids Free! If you win, you get all your TCredits back. But take care! Because the winner gets all his TCredits back, bidding is much more aggressive. Sometimes two or three bidders are prepared to risk hundreds of TCredits on these auctions in the hope of getting them all back if they “stay in until the end”.

Watch these auctions carefully before bidding. I suggest that you wait until the bidding-window has shortened to 45 seconds or less… Only bid if you have a good supply of TCredits to play with…

6. AUTO BIDDING

Once an auction has begun you can set up auto bids to bring you into an auction at a set price. You can also choose the exit price and the maximum number of bids in between. Also, you can cancel your auto bid anytime you change your mind.

Autobidding is a good way to give you an option of entering an auction later… IF it reaches your entry price. This saves you from wasting precious TCredits in the early stages.

Autobidding can be a good way to drive out timid bidders as it can be dispiriting to see your bid instantly topped by an auto-bidder every time!

STOP autobidding if you notice two other people are autobidding as well. Let them drive up the price while you save TCredits.

Autobidding is very useful if you are committed to an auction but have to leave your computer to do other business… But be very choosy about when you use auto bidding.

7. USE YOUR MEMBER REWARD POINTS

If you become an active Tripleclicks Pricebenders bidder you will quickly accumulate Member Reward Points (MRP). Be sure to take advantage of your MRP to pick up some free goods (you pay for shipping only).

Pricebenders penny auctions are a popular and exciting part of the TripleClicks ecommerce website experience. Pricebenders auctions offer enticing opportunities to both bargain hunters and Internet marketers looking to build their SFI business.

Cheers for now,

David Hurley

SFI Executive Affiliate

P.S. I give away over 100 TCredits in prizes every month to active members of my SFI team. If you’re looking for a free-to-join home-based Internet business opportunity with excellent products and services, and an active and supportive sponsor, Join SFI As Part Of My Team Today!