FairMarket Lets Viewers Spend Points at AuctionsFairMarket Inc. has upgraded its online promotional auction system to work in conjunction with points-based contests, the company said yesterday.
The upgrade lets Web marketers offer their viewers the chance to spend points as they would spend money at online auctions. This application enhances the promotional potential for auctions, said Cathy Kim, product marketing manager at FairMarket.
Tying point programs with auctions can make them "ongoing events, whether they last a week or 10 years," Kim said.
FairMarket's online auction system was designed to build brand loyalty, create new revenue channels and collect viewer data. The system lets viewers bid on items and receive e-mail notification concerning the status of the auctions.
New Line Cinema is using the system to sell wardrobe items and props from its movies. For instance, the film company is auctioning the white outfit worn by Goldie Hawn in its movie "Town & Country."
Viewers must register to enter bids at the auctions. The registration forms collect potential marketing information such as name, e-mail address and shopping preferences. FairMarket, Woburn, MA, offers real-time reporting on the data collection and other marketing information connected to the auctions.
The system varies in price, but it has a median cost of $42,000, said Lisa Dabbon, spokeswoman for the firm. More information can be found at fairmarket.com.