Frequently Asked Questions

Contents - mySiteMarket

Credits

• What are Marketplace Credits used for?

Auctions

• What is a Buy It Now price?
• What is a reserve price?
• Can the seller sell for a specific price rather than using the auction format?
• How long can an auction last?
• Can the seller re-open an auction?
• Can the seller sell more than one item per auction?
• Can the seller delete spam comment and unwanted bids?
• Can the seller cancel an auction or declare a winner at any time?
• Can the seller edit the auction details during the auction?
• Can the bidder bid conditionally or retract a bid?
• Which currency are all the prices in?

Contents - Internet in A Box

• If I am a small business owner with my own established site, can I build a landing page and have a link directing to my original site.
• How do we get to change the contents of the ads?
• How much time do you really need to spend on your sites?
• How many hours a day everyday do I need to maintain the websites?
• What safeguards do you have on the Babylon system to minimize any large losses when I'm not around managing the process?
• What can cause Babylon to lose money when trading?
• How can I limit my loss?
• What is the revenue report?
• How do I make my websites more profitable?

Credits

What are Marketplace Credits used for?

Marketplace Credits can be used to create listings in any category of the Marketplace including auctions, contests and forum threads. This replaces the old system where credits could only be used for the category for which they were purchased. [Return to top]

What is a Buy It Now price?

The seller can optionally specify a Buy It Now price for an auction. This indicates that the seller will sell immediately as soon as someone bids that price.

Once somebody has offered the Buy It Now price for an item, the seller will choose whether to accept the Buy It Now offer or reject it. Before the seller makes this decision, further bids of equal or lesser value can be made as standby bids in case the Buy It Now bid is rejected. [Return to top]

What is a reserve price?

The seller can optionally specify a reserve price for an auction. The reserve price is secret and is never revealed to anyone else. If an auction ends and nobody has matched the reserve price, "Reserve Not Reached" will show in the auction status window. The seller may choose to declare a winner anyway, or cancel the auction. [Return to top]

Can the seller sell for a specific price rather than using the auction format?

The seller may specify a Buy It Now price and a reserve price to the same value, indicating that they will not sell for anything other than that price. This is roughly equivalent to a straight sale, with the benefit that if nobody is willing to pay that price, the seller has the ability to choose whether to accept lower offers. [Return to top]

How long can an auction last?

The maximum length an auction can be open is 30 days. After an auction expires, it still remains viewable on the site for some time before it disappears.

If the seller chooses to end the auction earlier than 30 days from when it was created, it may be extended later if the seller changes his mind. [Return to top]

Can the seller re-open an auction?

Yes, the seller can re-open an auction at any time, unless 30 days have elapsed since the auction was first opened.

For example, if the winning bidder doesn't pay, or the seller changes his mind, he may re-open the auction. [Return to top]

Can the seller sell more than one item per auction?

Yes, if the auction fields allow it. For example, Sell Your Site and Sell Your Turnkey Site make it difficult to sell more than one site at a time because they only have one section where you can specify a URL. However, if the seller can make it clear in the description that he is selling more than one site, then it is allowed.

Please note that when the seller lists more than one item in an auction, bids submitted will be for all items mentioned together. Bids cannot be made on individual items. If the seller wishes to sell multiple items separately, he should create separate auctions for each item. Alternatively, if he initially wishes to sell them together but then receives offers for individual items, he can always cancel the auction and sell separately. [Return to top]

Can the seller delete spam comment and unwanted bids?

Yes, the seller can delete comments and bids on his own auction. The comments and bids will not be deleted permanently and can be restored later.

Deleting bids is useful if a bidder doesn't want to go through with the sale. Then the seller can simply delete his bid. The seller can also re-open the auction for other bids. [Return to top]

Can the seller cancel an auction or declare a winner at any time?

Yes, the seller is able to cancel an auction at any time, or choose a winner out of all current bidders at any time. [Return to top]

Can the seller edit the auction details during the auction?

If no bids have yet been received, the seller has full access to edit the details of the auction, including fields which describe what is being sold.

If one or more bids have been received, the seller only has limited access to edit the auction, and cannot edit fields such as the description of what is being sold. This is because the bids were made based on the information present at the time the bids were made. [Return to top]

Can the bidder bid conditionally or retract a bid?

It isn't possible for the bidder to retract their own bid, but if a bidder wishes to retract a bid they can contact the seller and have the seller remove the bid for them. The seller is able to remove any bid from the auction if, for example, a bidder changes their mind. [Return to top]

Which currency are all the prices in?

All prices are in United States Dollars only. [Return to top]

If I am a small business owner with my own established site, can I build a landing page and have a link directing to my original site.?

This functionality will not be available in the first version of the site however it has been earmarked for future releases. [Return to top]

How do we get to change the contents of the ads?

The site pages are created based on keywords and the revenue opportunities are contextually driven to more accurately match the revenue opportunities to the content on the page. In other words the ads are specific to the page content. Future releases will enable the site owners to be able to ad banners onto their site, however it is not in the site owners interest to do this due to the market restrictions that can be imposed if they do. [Return to top]

How much time do you really need to spend on your sites?

This question is dependent on the skills of the individual. For a raw beginner we would advise that they would need two to three weeks full time to understand the education concepts and start to monetize the site, for an internet marketer about one to two hours a week after initial setup should be enough time to meet the targets. [Return to top]

How many hours a day everyday do I need to maintain the websites?

After the creation of the page content and the setting up of the campaigns you really don't need much time to allocate for maintenance of the site. The process would be to manage by exemption. The site manages your daily campaigns therefore gives you the flexibility to attend to other errands. [Return to top]

What safeguards do you have on the Babylon system to minimize any large losses when I'm not around managing the process?

The Babylon trader system has fail safes built into the coding. There is a turn off functionality that is triggered when a certain pre-defined loss occurs. (Note that if you set this to zero the account will not operate as the first time you get a customer you will move into a loss even if that customer clicks on a revenue add the account would have been turned off). [Return to top]

What can cause Babylon to lose money when trading?

Like any other type of trading whether buying shares, football cards etc if you don't have exactly what the client wants on your page or the ads aren't exactly what the client is looking for then the client will not click on your advertisement. If this client or customer came through SEM activities ie: adwords then you would be in a loss situation. The object is to align the purchased traffic to your content and this in turn would align with your advertisements. [Return to top]

How can I limit my loss?

By following the education steps and making sure that you don't jump around the process will make sure that any losses are minimal. Also it is advised to set the spending campaigns low initially so that learning how to generate traffic doesn't become a costly exercise. [Return to top]

What is the revenue report?

A report in the system that details how much money has been generated. This report is downloadable by site name and by portfolio. [Return to top]

How do I make my websites more profitable?

There are many activities that can be completed to make the website more profitable. These include but not limited to: adding more content, analyzing the SEM campaign for low quality keywords, increase the number of pages and content so that there are more revenue opportunities available. Review the keywords using the keyword pricing tool. [Return to top]