Auctions allow users to bid against each other to win the prize. Users can set their max bid of points so they don’t have to continue to watch the auction as additional bids come in. Once their max bid is outbid, they will receive an automated email notifying them. Users can bid up to their total available balance. If a user gets outbid and doesn't win the auction, they will receive all of their points back. Auctions are great for experiences, autographed items, or any high perceived value item.
Tips
Here are some best practices for auctions:
Keep the auction to a limited window of time - one week, two week, one month, etc. is more effective than running an auction for the duration of your season
Send out a reminder for the bidders - use the Auction Ending Soon feature to remind users to place their final bids. We'd suggest doing this around noon on the date the auction is ending.
Use for Experiences or Items with limited quantity - to reward your most engaged users with the greatest number of points.
Enter Auction Title
Enter Description
Enter Terms & Conditions.
Upload the image shown in your prize store.
Optional: Enter any filter tags you would like members to filter this auction by.
Optional: Filter who can see the auction by entering any tags or membership levels that you would like to see this auction.
Optional: Enter the cash value of the auction prize.
Optional: Enter the product weight if applicable.
Enter the minimum amount of additional points a bid must contain in the Bid Increment
Enter the total amount of points the first bid must meet or exceed
Select the auction start date and time
Select the auction end date and time
Select the number of days you would like the auction to continue to be viewable after it has ended - Display Lag (Days)
Enter the date and time at which you would like to send an “Auction Ending Soon” reminder to all users who have placed a bid within this auction
Select if prize will be shipped or picked up
Click Save
Note - Users can use the Max Bid Amount to set the maximum amount of points they would like to bid up to. Once this is set, if other users are bidding in the auction, the system will continue to up-bid the auction so that the user is the top bidder, until they have reached the max bid amount. At that point, the user can elect to put more points into the max bid if they have earned more since they put in their first bid.
