3.4.2 How to Reply to a Bid on Data Boutique

Updated by Andrea Squatrito

How to Reply to a Bid on Data Boutique

Responding to bids on Data Boutique provides sellers with an opportunity to fulfill specific buyer requests and secure sales by meeting their data needs. Sellers have multiple options to respond to a bid, either by matching the buyer’s requested price or by proposing an alternative price.

Options for Replying to a Bid

  1. Starting a Contract at the Bid Price
    To win a bid, sellers can initiate a contract directly from the Bid page by selecting the specified website, schema, and geography that match the buyer’s requirements. By setting the price at or below the buyer’s stated bid price, the seller meets the conditions for an automatic award if the bid has Automatic Purchase (AP) active. Sellers can also start a contract from the Website page, where they can choose the appropriate schema and geography while ensuring the bid price is met.
  2. Starting a Contract at a Higher Price
    If the bid price does not align with the seller’s pricing needs, the seller can still start a contract for the requested data at a higher price. This option allows the seller to make their data available, but it will not award the bid to the seller. In this case:
    • No Automatic Award: The bid will remain open, and the contract created by the seller will not fulfill the bid.
    • Buyer Notification: The buyer will be notified that an offer exists, but it exceeds their bid price. This provides the buyer with the option to raise their bid if they wish to accept the new price.
  3. Negotiating a Price
    Sellers also have the option to negotiate a different price with the buyer. This is done by submitting a proposed price as a counter to the buyer’s bid. This allows the seller to communicate their price expectations to the buyer, who can then decide whether to:
    • Accept the new proposed price and adjust their bid accordingly.
    • Maintain their current bid price and wait for another seller who can meet it.

This price negotiation feature offers flexibility for both buyers and sellers, allowing for open dialogue about price expectations without immediately awarding the bid.

Tips for Responding to Bids

  • Matching the Bid Price: If the bid price is close to or within your acceptable range, meeting the bid price is often the quickest way to secure the sale.
  • Alternative Pricing: Starting a contract at a higher price or negotiating a price can be beneficial if the data requires additional effort or resources, as it allows you to offer the dataset at a sustainable rate.

In Summary

To respond to a bid on Data Boutique, sellers can:

  • Start a Contract at the Bid Price: This automatically awards the bid if all criteria are met and AP is active.
  • Start a Contract at a Higher Price: The buyer will be notified, but the bid will not be awarded.
  • Negotiate a Price: Propose a different price for the buyer to consider, allowing for potential adjustments in the bid price.

Each of these options allows sellers to respond to bids flexibly, ensuring they can meet buyer needs while aligning with their pricing requirements.

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