Quick Facebook Tips on What Gets Shared
One of my favorite marketing podcasts is John Wall & Christopher Penn’s Marketing Over Coffee. This week there was a great episode which cited Justin Kistner‘s presentation at SocialFresh Charlotte regarding research about what actually gets shared on Facebook.
Here’s a clip, but it’s worth it to listen to the entire episode and subscribe to this great free podcast.
Mercata Question: “How did the price fall?”
I’m happy to answer questions about Mercata.
Dan asks:
Could you please tell me if the price went down with each and every buyer, or only with a predetermined number of buyers, in steps? How did the buyers who placed a reasonable, but unaccepted offer, influence the price to go down one more step, before their bid was accepted?
Mercata’s algorithm dropped the price with each buyer along a curve (although depending on the curve, it might be a few dollars or a fraction of a cent).
Customers didn’t “bid” a specific amount per se; they just agreed to buy the item at the current price or lower.*
For example, a baby stroller might have started on a Monday at $300 with a PowerBuy duration of 3 days. Maybe on Tuesday, the price dropped to $275. Let’s say you agreed to buy at that point. But by the time the PowerBuy ended on Wednesday, the price was down to $250. So you (and everyone else) were only charged $250. Customers loved that.
*EDIT: As I thought about this more, I remembered that we did experiment with bidding vs. joining an existing PowerBuy. In my opinion, joining the PowerBuy was a cleaner user experience.
Find Me on Google+
