Media | Auctions on Media accounts!
“Do I hear 150,500?” Robert Davidman Earthquake Media’s CEO initiated Enversa’s first offline media auction. Executives of six agencies attended this auction for one of Earthquake’s clients, Princeton Review who needs at least 150,000 posters printed and distributed on selected college campuses. The bidders were competing to be the winner of Princeton Review’s mid five-figure budget, and their bids represented the number of posters they were willing to print and post based on that budget.
It’s a reverse auction set up in what is essentially an online chat format. The marketer offers up a set budget and then vendors bid against each other for how many ratings points, posters or impressions they can offer to win that budget. All of Enversa’s auctions until now have been in the online media realm. Enversa is one of a number of auction-based media-buying and selling systems that have cropped up recently.
The bidding came down to Alloy and Steel at 155,000.
