Online auction or bidding is an exciting event which has been propagated and mastered by eBay. Since then, there have been countless clones, some of which have been successful. Let’s look at how to build a successful online auction website and the tools for a WordPress site.
What’s An Online Auction or Bidding?
An online auction or bidding is no different than a normal auction. The only difference is that here bidder’s look at a product image online and bid electronically for the item. eBay is an excellent model of an online auction. A bidder proposes or inputs a maximum price he is willing to pay for an item. At the end of a time period, say two days, the highest bidder is announced as the winner. The participants in the auction can either look at the web page to find the latest bid or in some online auctions bidders are informed through email about the highest bid.
The Main Ingredients of a Successful Online Auction Website
An online auction has to be planned and executed flawlessly if you want the desired result. Making an auction an exciting event depends on the skill of the auctioneer or in this case the tools which are used in the auction. Not everyone is eBay and getting quality bidders is always a difficult task. Email marketing is one of the ways by which you can attract good bidders. You must remember that such an event will only be successful if you have many enthusiastic bidders.
Putting a minimum price on bids is always an excellent idea to minimize or avoid losses. This situation may arise if you have insufficient number of bidders.
How to Create a Successful WordPress Website for Online Auction or Bidding?
WordPress users are at an advantage while developing an online auction site. There are many plug-ins available, both free and paid. A good plug-in ( WP Auction Software WordPress Plugin for bidding is the one I use ) must be able to incorporate as much information about the auctioned products as possible. You will attract quality bidders if you provide sufficient information upfront and in detail. Many pf these sites have escrow facility where the money is automatically refunded to bidders other than the winner. Auction sites must have facility to receive payments from various sources like credit card and PayPal.
Using Social Media for Successful Online Auction
Some WordPress online auction tools allow for direct integration with social media platforms like Facebook and Twitter. Twitter can be effectively used for auctions which happen on real-time basis. For example, a famous football player can announce auction of his favorite T-shirt after a game. This kind of an event can get extremely exciting and fetch a huge amount of money.
Creating a successful WordPress website for online auction or bidding is simple. You have to pick from a variety of tools and incorporate them in your site. Ultimately, an online auction can only be as successful as the auctioneer – in this case your website. Your bidding price must be attractive and the process must be transparent. Finally, it’s all about reaching out to the bidder and getting them excited about the auction.