The Auction App: How Companies Tap the Power of Online Auctions to Maximize Revenue Growth

Cover
......Page 1
Title Page
......Page 4
Copyright......Page 5
The Auction-App......Page 2
1. The Case for Participating at Auction 1......Page 6
Preface......Page 8
Acknowledgments......Page 12
Dedications......Page 13
Dynamic Commerce......Page 17
English Auctions......Page 23
Dutch Auctions......Page 26
Reverse Auctions......Page 27
Business Models......Page 29
Creating Your Own Auction......Page 32
E-mail......Page 34
Affiliate Programs......Page 35
Online Auctions......Page 36
2. A Brief History of Internet Auctions 23
......Page 38
Evolution of the Online Trading Experience......Page 40
The Birth of B2B......Page 41
Winners and Losers......Page 44
Critical Mass Counts......Page 48
Inspect Your Infrastructure......Page 49
Don’t Put All Your Eggs in One Basket......Page 50
Special Section: Community-Based Selling and Peer-to-Peer
Psychographics 37
......Page 52
Understanding Peer-to-Peer Dynamics......Page 53
What Can B2C Auction Sellers Learn from This?......Page 56
Psychographics: Who Is the Online Peer?......Page 58
Counting the Computers......Page 59
3. Finding the Relevant Marketplace 47......Page 62
What You Sell Is Where You Sell......Page 63
Business-to-Consumer: General and Niche Sites......Page 64
Excess inventory, distressed merchandise, secondhand
business machines, and small manufacturing equipment
......Page 65
On Beyond eBay......Page 66
Finding Your Niche......Page 68
Finished goods (wholesale and retail); small office/home
office (SOHO) products; general maintenance, repair, and
operations (MRO) products
......Page 69
Services to corporations and small businesses, such as
employment, payroll, estimating, benefits management, travel,
hospitality, tax accounting, publicity, or advertising
......Page 70
Semifinished goods, industry-specific MRO......Page 71
Spot materials, raw materials, industry-specific materials,
commodities, heavy machinery:
......Page 72
Picking the Winners: Evaluating the Viability and Usefulness of an Exchange......Page 73
2. Market credibility and expertise......Page 74
Getting into an Auction......Page 75
II. Pricing for companies with multiple brands......Page 76
4. Software and Services for Creating an E-Commerce Auction
Infrastructure 67
......Page 82
Tools for Selling at Auction......Page 83
Power Sellers......Page 84
Ándale......Page 85
AuctionWatch......Page 87
Auctionworks......Page 88
ChannelAdvisor......Page 89
Fairmarket......Page 90
Choosing an AMS......Page 92
Try before You Buy......Page 93
Look at Your Reporting Needs......Page 94
Feedback Is Important......Page 95
Auctions as Part of Your E-business Platform......Page 96
CommerceOne......Page 97
Oracle......Page 98
VerticalNet......Page 99
Dispute Management/Mediation......Page 100
Appraisals/Inspections......Page 101
Securities and Seals of Approval......Page 103
Why Online Auctions Are a Branding Issue......Page 104
Set the Branding Goal......Page 105
Building a Microsite......Page 107
Line Up Inventory and Resources......Page 108
Auction Rules, Registration, Payment, and Delivery Options......Page 109
Determine Pricing Strategy......Page 112
Increments, Reserve Prices, and Minimum Bids......Page 113
Design the Offering with Categories, Key Words, and Screen Art......Page 115
Scheduling and Timing the “Launch” and “Close”......Page 119
Early Closing and Antisniping......Page 121
Provide Entertainment Value......Page 122
Postsale Follow-up......Page 123
DoveBid—The Evolution of Capital
Asset Auctions
......Page 124
Regal Distributing—Building Castles in
the Big Sandbox
......Page 127
Fairmarket—The Evolution of a Fair
Marketplace
......Page 130
Omaha Steaks—Getting to the Meat of It......Page 132
IronPlanet—A B2B Exchange Ready for
Heavy Lifting
......Page 134
Ritz Camera—A Snapshot of Auction
Experience
......Page 137
Interstate Bakeries Corporation—Baking
Up E-Procurement Savings
......Page 140
6. Resources for Researching Your Auction Initiative 129......Page 144
Online Auction Users Association......Page 145
Auction Watch......Page 146
Auction Books......Page 147
C/NET Auctions (Community Model)......Page 148
EWanted (Reverse Auction Model)......Page 149
Teletrade (Phone Bidding)......Page 150
The Bloke In The Pub (U.K. Auction)......Page 151
VirtualFeedback......Page 152
Auction Maker (Auction Management Software)......Page 153
4. Search Robots for Auction Sites......Page 154
Aberdeen Group (Research Reports)......Page 155
(Industrial Chemicals)......Page 157
Manufacturing News (News Site, Directories)......Page 156
6. Specialty Topic Areas......Page 158
American Society of Appraisers (Pricing Data)......Page 159
Sotheby’s (Auction House)......Page 160
BuyMedia.com......Page 161
Exostar......Page 162
Parts Base......Page 163
Agriculture Online......Page 164
FarmBid......Page 165
NetSeeds......Page 166
Rubber Network......Page 167
Manheim......Page 168
NewMediary.com......Page 169
AssetTrade......Page 170
Global Capital Equipment Market......Page 171
The Halon Trader......Page 172
Wastechange......Page 173
MachineTools.com......Page 174
Elemica......Page 175
CheMatch.com......Page 176
ImageParts.com......Page 177
Trade Loop......Page 178
Free Trade Zone (PartMiner Direct)......Page 179
Need2Buy......Page 180
Mercadium......Page 181
TradePower......Page 182
Enron Online......Page 183
Intercontinental Exchange......Page 184
World Oil......Page 185
TradeWeb......Page 186
ecFood......Page 187
FoodService.com......Page 188
SellMeat.com......Page 189
Onvia.com......Page 190
thebenefits.network......Page 191
Dream Weaver Foundation......Page 192
Transora......Page 193
PackageX......Page 194
IHB—Internationale Holzboerse......Page 195
Biz2Biz Plastics......Page 196
58K.com......Page 197
Printbid.com......Page 198
Worldwide Retail Exchange......Page 199
e-Transport.com......Page 200
Global Freight Exchange......Page 201
Logistics.com......Page 202
e-MaterialCut......Page 203
ComAuction.com......Page 204
Min-X.com......Page 205
The Bandwidth Place......Page 206
Solutions Providers/Aggregators of Marketplaces......Page 207
VerticalNet......Page 208
7. Getting Beyond Being a “One-Trick Pony” 195......Page 210
Search Engine Optimization......Page 212
Direct E-mail and Direct Mail......Page 215
Viral Marketing Promotions......Page 217
PR and Publicity......Page 218
Clicks vs. Conversions......Page 219
Create the Best Experience......Page 220
Generate Trust......Page 221
Fulfill Orders and Exceed Expectations......Page 222
Get Permission First......Page 224
Automate Customer Response on the Web......Page 227
Using Loss Leaders Effectively......Page 232
Using Reserve Bids......Page 233
Moving Beyond Price......Page 234
Retiering Pricing Models: Apples vs. Oranges Online......Page 235
1. Bundling/Unbundling Products......Page 236
2. Enhance Brand Value or Product Value......Page 237
3. Add Service to Your Offering......Page 238
4. Add Speed to Your Offering......Page 240
5. Be Alert to Arbitrage Opportunities......Page 241
Raising Revenues by Serving the Community......Page 242
Raising Revenues by Cutting Costs......Page 244
How Fast Are Manufacturers Moving into the Auction Space?......Page 245
How Fast Can You Stay Ahead of the Curve?......Page 247
Special Section: Navigating the Online RFQ 237......Page 252
Receiving and Transmitting Specs......Page 253
Using RFQs to Troll for Job Leads......Page 256
If an Idea Is Right, Large Communities Can Be Built Overnight.......Page 258
Facilitate Your Community......Page 259
Think Price, not Brand......Page 260
Where Hype Has Met Reality......Page 261
Fixed-Price Selling Still Works......Page 262
Forget Old Product Life-Cycle Models......Page 264
The Global Economy Is Here......Page 265
Even Consumers Are Going Global......Page 268
Emerging Technologies......Page 270
Index 281......Page 7
Sealed Bidding......Page 274
If at First You Don’t Succeed . . .......Page 275
Are You Eligible to Work for Uncle Sam?......Page 276
Getting Started in Government Reverse Auctions......Page 278
The Caveats of Reverse Bidding......Page 279
1. File the Standard Application Forms......Page 280
3. Get Your Information Straight......Page 281
Agency mailing lists......Page 282
Five Strategies for Working the GSA Schedule......Page 283
Government Contracting Terms— Definitions and Abbreviations......Page 284