Happy Friday!
SocialSpark has been open to the public nearly a week and we can't tell you how wonderful it is to have so many users in the system excited about what we are doing and eager to learn how to get the most out of their SocialSpark experience. We have gotten a lot of feedback on what you like and don't like and a lot of great suggestions for making future efficiencies and improvements. We certainly hope you'll keep the feedback coming!
As this is a brand new site, there is a lot out there for all of us to learn and several features that are unique to SocialSpark. One of these is dynamic pricing. I know that there have been a lot of questions and confusion about this system through tickets and out on the Izea Boards, so we thought it was about time to shed some light on how the dynamic pricing system works.
When an Advertiser creates an Opp. in SocialSpark, they are now able to set a maximum and minimum price that they are willing to pay for each Sponsored Post. Please note that this price range will not be visible to the public, only the current offer price. Once an Opportunity goes live, the fun begins!
The dynamic pricing script runs each hour and adjusts the price offered for posts up or down based on Marketplace demand. It is important to note that the price that you will be paid for a Sponsored Post is the price of the offer when you RESERVE the Opp., NOT the current price at submission. As a user, you are encouraged to watch the Marketplace to ensure that you are getting the best price for each Opp. before reserving. Of course the flip side of this is that if you wait too long, the Opp. may no longer be available!
However, because SocialSpark Opportunities run on a daily spend rather than a set account balance, we have been able to give SocialSpark users the ability to add themselves to an Opportunity queue to receive a reservation for the next available spot in that Opp.
Queuing for an Opp. is a great way to exponentially increase your chances of being able to take that Opp. But, please understand that you are not locked into the price of any queued Opp. until your reservation for that Opp. is created; a request to add yourself to a queue is not a reservation.
All reservations for the coming day's posts will be created during each midnight system update. This means that for the bloggers in queue, the offer for the Opp. will always be the starting (lowest) price of that Opp. for the day. The reasoning behind this is again simple supply and demand. If there are bloggers waiting to take this Opp., it is in demand and there is therefor no need to offer a premium to entice bloggers to take it. However, as the day progresses and demand for an Opp. is low, the price will be adjusted upward to garner more interest.
So, while you may see the same Opp. live in the Marketplace with a higher current offer, your offer price will be from when your reservation was created. You can always view the price at which you accepted an Opp by clicking on 'Taken Opps' from the 'Manage Blogger Account' section under the 'Account' dropdown at the top right of your SocialSpark account.
So, there you have it! Dynamic Pricing in a nutshell. I know that it's new and that new can be scary, but once users become more familiar in the system, you'll be able to utilize it and customize it to best suit your lifestyle and your needs.
One last reminder: Should you ever have any questions, you can always reach out to us here in Customer Love by clicking on the 'Help' tab at the top right of your SocialSpark account and choosing 'Submit a Ticket'.
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Comments (RSS)
alli said...
If I add myself to a queue to see if I even get a reservation, how do I find out I'm not getting one? Or, if I don't want the reservation after waiting in the queue, because the price dropped, how do I cancel out of a reservation?
Apr 18, 2008 5:43:02 PM
Cass said...
What Alli said. An opp that appeals to me at $12 is not quite so appealing at $5.50.
Just like the sponsorship I took at 2.75, but now it's on my blog for55 cents. That's NOT what I agreed to!
Apr 18, 2008 6:30:04 PM
Sabrina said...
I don't like the fluctuating prices. I like to know up front what I'm getting. If I reserve it at one price, I don't want to finally get the opp and get it at a much lower price.
Apr 18, 2008 7:45:47 PM
Lynne said...
If we're in the queue and the system assigns reservations at midnight, does that mean our 12 hours to complete the op starts at midnight?
If yes, that would mean that by the time I am out of bed and sitting down at my computer, I may only have an hour or two to complete the op because I slept through most of the 12 hour period?
I also don't like that we may be lining up for an op at one price only to have it assigned to us at another.
Apr 19, 2008 6:40:06 AM
Mrs. Mecomber said...
Social Spark is pretty nifty, but it is too fluid, too confusing. I'm seeing that bloggers don't like it because there are so many steps to do anything there, and even after that, there are no confirmations about anything you've done. And the opps are far too fluid for comfort. Like everyone else said, when we reserve an opp (if we can even reserve one at all), it is unjust to get a different price than what we signed up for.
Apr 19, 2008 8:47:45 AM
Carri said...
@alli- there are two situations that I can think of where you would not be given a reservation. First, if the Opp. ended before your turn came up and second if there were so many people in line for a slot that it would take an unreasonable amount of time to receive one. Also, we will be releasing an update in the next week that will add the ability for you to take yourself out of queue and to see an approximate time frame for when your reservation will be created.
@Cass and Sabrina and Lynne- Please remember that adding yourself to queue in NOT creating a reservation for an Opp. It is adding yourself to line to have a reservation created. Again, because these queued users represent demand for an Opp., you are not going to be offered a premium payout for that Opp.
@Cass- Also, Blog Sponsorships show a price range when you accept it of the minimum and maximum it is possible to be paid per day. If you are uncomfortable with the lower end, you may wish to choose not to accept it.
@Lynne- Reservation e-mails will start being sent out at 12AM EST, you will have 12 hours from when that reservation is created to submit the Opp.
@Mrsmecomber- You will ALWAYS be paid at the price offered when your reservation is created. However, queuing for an Opp. is, again, NOT creating a reservation for it. You are simply getting in line for a reservation. Also, being able to queue is an added feature. You may choose NEVER to queue for an Opp. and simply reserve them from the site live.
Apr 19, 2008 1:50:25 PM
Cyn said...
"@Lynne- Reservation e-mails will start being sent out at 12AM EST, you will have 12 hours from when that reservation is created to submit the Opp."
Carri: I'm sorry but this is not true.
I've had two 6-hour opps that resulted from being on Q.
The opp released at what your System calls 12:00 Saturday (not to pick nits but it _isn't_ Saturday until 12:01)
specified that I must complete it in SIX hours, so I had between midnight and 6 a.m. to research and write an opp that dropped from the Q?!
As I said on the boards this is not cool with me. Twelve hours with this system would have been acceptable. Six hours in this time frame as Ted would say, is redonkulous.
Also, as you stated, the midnight opp was at it's lowest price range--not at all worthy of taking it _in that time frame_.
I know that this system is being explained as a positive thing.
Please explain what is positive about my experience.
Thanks!
Cyn
"Caprica"
Apr 19, 2008 6:47:34 PM
Cyn said...
"@Lynne- Reservation e-mails will start being sent out at 12AM EST, you will have 12 hours from when that reservation is created to submit the Opp."
Carri: I'm sorry but this is not true.
I've had two 6-hour opps that resulted from being on Q.
The opp released at what your System calls 12:00 Saturday (not to pick nits but it _isn't_ Saturday until 12:01)
specified that I must complete it in SIX hours, so I had between midnight and 6 a.m. to research and write an opp that dropped from the Q?!
As I said on the boards this is not cool with me. Twelve hours with this system would have been acceptable. Six hours in this time frame as Ted would say, is redonkulous.
Also, as you stated, the midnight opp was at it's lowest price range--not at all worthy of taking it _in that time frame_.
I know that this system is being explained as a positive thing.
Please explain what is positive about my experience.
Thanks!
Cyn
"Caprica"
Apr 19, 2008 6:48:43 PM
Lisa said...
When we get the email reservation, would there be a way to tell us what the price is at that time?
Apr 20, 2008 1:49:42 AM
RealityTVFan said...
I just can't get on board with the dynamic pricing.
'When demand subsides for an OPP the price goes up to make it more appealing'
Honestly, when has demand for an OPP ever subsided? We all know that there are 10s of thousands of bloggers sat trying to snag a handful of OPPs that appear each day. There's always going to be posties willing to snag up an OPP at the lowest price, ALWAYS.
Plus I quite agree than when a reservation is created from being in a queue (does that ever actually happen? I've not got any thing from a queue so far?) the email should include the price you are going to be paid for it, I shouldn't have to watch the marketplace and try work it out etc. While I might add myself to a queue for something when it's $11 because I think that's a good price, I might not be so keen to do the same amount of work for $5, so I must have the chance to change my mind about it. Transparency, isn't that one of Izeas most loved buzz words?
Apr 20, 2008 10:20:03 AM
Carri said...
@Cyn-- Currently, these e-mails are just plain wrong. You do always have 12 hours to submit a post in SS, however, the time listed in the reservation e-mail is incorrect. Also, these are supposed to link to the Opp. in question. This correction should go out this afternoon.
@Lisa & Realitytvfan-- I just talked to Dev and we will be adding the offer price on the reservation e-mail as well. This may not make in time to go out with the next update, but we should be able to add it later this week.
Apr 21, 2008 10:24:55 AM
Sire said...
I do not like the fluctuating price, I reckon it is total BS. I agree with RealityTVFan, the least you can do is let us know by email what price we snagged so that we can make an informed decision on whether or not we still want to take the op.
Apr 21, 2008 8:05:19 PM
Maggie said...
Personally it seems to me that SocialSpark is making the bloggers jump through alot of hoops to maybe get an opp.
Usually when I take an opp I do the opp. That is when I have time to be online and write. However, now I will have to get in Q. Have no idea if I will be accepted or not and then If I do half my time to post is when I am sleeping or rushing off to work. I won't have any time to actually write the opp. Why send them out at midnight? Why do it that way at all. I hope the Q and fluctuating price gets changed.
Apr 22, 2008 5:52:01 AM
Carri said...
First, thanks to everyone for all your great feedback! We truly appreciate your input. However, I do want to reiterate once again that being able to queue for an Opp. is an added feature. You do not ever have to use it if you so choose. You will still be able to visit the site at your convenience and take Opps. live.
Apr 22, 2008 9:08:15 AM
Jody said...
I agree... An opp that I queued for at $27.50 just isn't appealing at $5.50 when it requires 250 words + screen shots. Also, since the opp drops at midnight (11pm here) I have little time in the morning to actually do it (and none if my daughter happens to have school that morning). I hope PPP doesn't disappear- It works better for me.
Apr 23, 2008 7:57:24 AM
brettbum said...
With all of the talk about the problems of dynamic pricing (and I do not mean to minimize the problems in the least).
Its really easy to lose track of the fact that SocialSpark can be almost twice as expensive as compared to PPP. That means that if something goes through SS, the blogger is more likely to get less money before the impact of the marketplace ever begins.
If I am an advertiser and want to pay a blogger $20, in PPP my total cost is ($20 + $7 commission) multiplied by total number of ops + $5 setup .
If I am an advertiser and want to pay a blogger $20, in SS my total cost is ($20 + $20 commission) multiplied by total number of ops + $5 setup.
That means I can get a lot more ops in PPP than I can in SS, or it means that I have to pay bloggers a lot less if I need a certain number of articles.
Sep 24, 2008 5:56:42 PM