The Fanatico Sales Function allows Idols and creators to manage and monetize their content and items through various sales formats. The platform offers flexibility with three main sales types: Fixed Price, Traditional Auction, and Lowest Unique Bid Auction (LUB). Below is a detailed guide covering each aspect of the sale processes.
1. Sales Types Overview #
- Fixed Price Sale: The seller sets a fixed price for an item or service. Once a fan purchases the item, the item is sold. The sale of amounts of more than one item is currently not supported.
- Traditional Auction: Bidders compete by placing the highest bid within a specified timeframe. The highest bidder wins when the auction ends.
- Lowest Unique Bid Auction (LUB): Participants aim to place the lowest unique bid that no other participant has submitted.
2. Steps to Create a Sale #
For Idols or Content Creators:
- Access Sales Composer:
- Navigate to the sales section through your profile and choose “Create New Sale.”
- Upload Sale Information:
- Add images, videos, and detailed descriptions of the item or content.
- Ensure accuracy and clarity in descriptions to increase buyer interest.
- Select Sale Type:
- Choose between Fixed Price, Traditional Auction, or LUB Auction based on your sale objectives.
- Set Pricing:
- For Fixed Price: Set a static price either in Fiat or Fanatico FCO.
- For Traditional Auction: Set a starting bid and optionally a reserve price.
- For LUB Auction: Define minimum and maximum bid parameters and configure automatic relist options.
- Delivery Settings:
- Specify how the item will be delivered: physical (shipping), virtual (online content), or in-person events.
- Verification:
- Sellers must verify their identity through email or phone, if not already done, before publishing sales.
- Agree to Seller’s Agreement:
- Confirm adherence to Fanatico’s Seller Policies by checking the agreement box.
- Publish Sale:
- Once completed, publish the sale, which will be visible to users based on the selected availability settings (open to all, specific followers, or Fan Plan members).
3. Participation and Interaction for Buyers #
A. Fixed Price Sale:
- Buyers navigate to the fixed price sale item and can purchase it directly if they have sufficient Fanaticos or fiat currency linked via card payment.
- Once purchased, the sale is closed and no further actions can be taken on the item.
B. Traditional Auction:
- Buyers place bids that must exceed the current highest bid.
- The auction continues until the set timeframe concludes.
- The highest bidder receives a confirmation and the next steps for payment and delivery are initiated.
C. Lowest Unique Bid Auction (LUB):
- Buyers place one or multiple bids within a predetermined range, aiming to submit the lowest unique bid.
- A “Buy Now” option might be available, allowing buyers to bypass bidding and purchase directly.
- Bids can be submitted in ranges, with rules on unique bid calculations.
4. Managing Delivery & Post-Sale Processes #
For Sellers:
- Physical Goods: After the sale, sellers are required to input shipping details and tracking information for physical items.
- Digital Goods: For virtual items like content or event tickets, a download link or access information will be shared post-purchase.
- In-Person Events: Tickets or QR codes are generated for access to the events.
- Confirm Delivery: Sellers must confirm the successful delivery of the item, and buyers are requested to acknowledge receipt.
For Buyers:
- After purchase or auction win, the buyer submits the delivery address (if required) and completes payment.
- Tracking Orders: Buyers can track physical items using the provided tracking number or view digital goods within their account.
- Dispute Handling: If there are any issues with delivery, buyers and sellers can raise disputes within the platform for resolution.
5. Sale Management and Status Tracking #
Sellers:
- Sale Status: Each sale will be tagged with statuses like Pending, Active, Completed, or Cancelled for easier tracking.
- Analytics: Sellers have access to statistics about each sale, including total bids, unique bids (for LUB auctions), and engagement rates.
Buyers:
- Buyers can view their purchases and bidding history in their profile under “My Purchases” or “Bidding History.”
- Notifications are sent for auction wins, outbid alerts, and delivery status changes.
6. Usability & Interaction Enhancements #
- Tooltips & Explanations: Detailed tooltips provide users with instructions and explanations for each sale type, bidding process, and delivery methods.
- Verification Notifications: If an idol hasn’t completed their verification, reminders are sent to ensure their ability to post sales isn’t delayed.
- Mobile & Desktop Views: The sale creation and bidding processes are optimized for both mobile and desktop experiences, ensuring smooth user interaction.
7. Benefits of Fanatico Sales Functionality #
- Maximized Earnings: With multiple sale types, Idols can cater to different fan bases, whether through exclusive fixed-price sales or engaging auctions.
- Fan Engagement: Sales are a unique way to keep fans engaged through exclusive content, unique items, or experiences.
- Secure Transactions: All transactions are secured using Fanatico’s payment systems, including blockchain-based Fanaticos and traditional payment methods.
