Bid4Spots, the competitive online marketplace offering businesses discounted radio ad inventory through a reverse auction process, has secured its 10,000th advertiser, Rushmore Essentials, manufacturer of REvive and REvitalize lifestyle drinks.
“With the economy improving, more businesses are looking to advertise and maintain as much efficiency as possible, while being selective about where their marketing dollars go,” said Bid4Spots Founder and CEO Dave Newmark. “Bid4Spots is a first for the radio media buying industry, and through our unique online reverse-auction model, businesses like Rushmore Essentials can reach their target customer base through radio to advertise their products throughout the country during prime times at significantly discounted rates.”
With the Bid4Spots “reverse auction” model, advertisers start the process by giving the Bid4Spots team their campaign goals, which are then translated into targeted campaign parameters in the Bid4Spots platform. Only stations matching the advertisers’ chosen criteria are invited to bid and the stations offering the best value (most targeted listeners for the lowest costs) win the advertisers’ business each week. To preserve stations’ direct buy rate integrity (the rates stations typically charge advertisers through the traditional media buying process), Bid4Spots keeps the discounted spot rates that stations offer in the marketplace confidential.
“Working with Bid4Spots, we have been able to educate our consumers and create a demand for REvive and REvitalize vitality drinks with targeted radio ad campaigns that fit into our marketing budget,” said Tom Morse, one of the partners behind Rushmore Essentials. “Bid4Spots gave us access to a market that would have otherwise been difficult for us to navigate on our own.”
Bid4Spots provides an opportunity for companies in a wide variety of industries, including legal and financial services, food and beverage, healthcare and medical, education, auto and construction, to market their businesses in the broadcast arena.