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Southern Cross Austereo launches advertising barter e-commerce platform My Local Auction

My Local AuctionSouthern Cross Austereo (SCA) has made a new digital play with the launch of an e-commerce platform My Local Auction, aimed at connecting local buyers and sellers across Australia and maximising the network’s unsold ad inventory, Mumbrella can reveal.

The service allows vendors to put their unsold goods up for auction with a reserve price well under the recommended retail price (RRP). If the item is bought at or above the reserve SCA pockets the cash with the vendor getting the full RRP as advertising credit with its local TV and radio stations.

It will also see SCA harvest data from the auctions, allowing retailers to re-target customers who miss out on the bargains afterwards.

Clive Dickens director of digital and innovation at SCA told Mumbrella: “The clever thing is the business model behind it. The consumer gets a bargain which is anywhere between 30 and 50 per cent off the RRP.“The owner of the stock gets to trade unsold stock into an auction environment in return for credits he can use against advertising off the RRP and then we get the cash transaction and the data.”

SCA will conduct its first auction on the new auction platform in Orange and Dubbo, commencing today, with the media company promoting the auctions on its radio and TV assets.

“The auctions started at 5am in regional NSW and were promoted on our four FM radio stations in those two towns and also broadcast Southern Cross Ten and Eleven TV,” he said. “These are TV ads saying the auction is open telling them to go to mylocalauction.com.au”

Unlike other online auction websites such as eBay, which allow people to post their purchase, My Local Auctions will require people to pick up the purchase from the retailer.

“My Local Auction is a key component of our expanding e-commerce and data strategy,” said Dickens. “The launch of this world-class platform will connect local businesses with potential customers, allowing consumers to access great bargains. My Local Auction is the first step in a multi-phase strategy for the ‘My Local’ online brand, which we’re excited to roll out in the coming months.”

Nic Christensen 

 

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