BidiFy Makes Fast Moves To Tweak Their Compensation To Make It Compliant In The Wake Of The SEC Actions Against Zeek Rewards.
BidiFy Makes Fast Moves To Tweak Their Compensation To Make It Compliant In The Wake Of The SEC Actions Against Zeek Rewards.
[quote]
Hi Troy,
This is to inform you of huge changes taking place in Bidify right now.
Mail and Recorded call with Kevin Thompson is published on our Websites.
Kind Regards
Frode
The past few days have been very busy for the entire MLM industry. As many of you know, our specific niche was rocked last Friday when it became known that Zeek Rewards, our main competitor, was shut down as an illegal ponzi scheme. After reading a few reports, it appears that Paul Burks, Zeek’s founder, is not contesting any of the allegations in the SEC’s complaint. Assuming those allegations to be true, this is a tragic event for everyone involved with Zeek.
Unfortunately, since we’re also operating a network marketing company in the penny auction arena, our name has been drawn into the mud with Zeek. We understand that many of you have questions and concerns about our business model. We understand that many of you want to know specifically what factors distinguishes us from Zeek.
Well, for starters, we’re not lying to you about the numbers. We publish our earnings daily. Those earnings drive the daily profit rewards. Second, our bids are actually being used. With Zeek, it has been alleged that only 0.25% of the bids purchased were every used. It clearly shows that the bid purchases were merely token purchases designed to conceal a money transfer from late investors to early investors. On Bidsson, the bids are actually being used. We have built an amazing technology platform and when we release our mobile applications, it’s only going to get stronger.
But we understand that these differences alone are not enough. We understand that no matter how hard we try to force affiliates to move sample bids to customers, it’s going to be nearly impossible to prevent people from promoting the program as an investment. In reality, Bidify is NOT an investment. However, since there’s so much profit generated on the penny auction side of the business, and when people rack up a portion of those profits by providing sample bids for customers, it’ll always be viewed as a passive investment.
We realize that now, and we’re committed to putting an end to it. After having countless meetings between management and our legal counsel, we have developed a revised business plan to protect the longevity of the company while keeping it a very competitive and lucrative opportunity for the masses.
After serious discussions, we have decided to eliminate the leadership bonuses from Bidsson. We are eliminating the ability for people to purchase and give away sample bids. While it served a valid purpose in generating activity on the Bidsson platform, it creates the most exposure. And quite frankly, given the excellent condition of our technology and our recent success with Bidsson, there’s really no need to be giving away so many free bids to customers. We offer an excellent deal for customers, one that they’re willing to pay for.
We’re eliminating the daily leadership bonuses and turning off the re-purchase. We feel this was the cancer. This has led affiliates, both in Zeek and Bidify, to refer to their commissions as “compounding” when in fact it was a function of a simple commission based on customer activity. In order to cure the cancer and eliminate all confusion, it must be removed.
In order to make it more lucrative to buy and sell bids for everyone, we are putting together a new bonus plan based more on a traditional MLM, one that will not lead to improper positioning in the field.
With all existing affiliates with bonus points in their back office, we are creating a new pool where we will continue to share profits from Bidsson. These bonus points will trigger a piece of the profits from Bidsson indefinitely. The size of your profit sharing stake will not grow. It’s our way of honoring our commitments to you. We want to make sure that your experience is consistent with your expectations when you joined.
We will continue to build Bidsson to become the biggest penny auction platform in the world, and we will continue to reward affiliates for helping us promote it.
We will take down the website to implement these improvements. Stay tuned. We do these changes to make Bidify a long lasting opportunity for everyone.
We are committed to offering the safest model possible and cannot offer anything less.
We will be holding a conference call with Kevin Thompson, our legal counsel, where we’ll discuss these changes. He’s been given free rein to be candid during the call and shoot straight with everyone. It should be a good one!
Kind Regards
Bidify Management
[/quote]
Troy Dooly
Troy Dooly is recognized internationally as an influencer in the areas of personal branding, leadership development, marketing campaigns, organizational expansion, and corporate launch strategies. Dooly is a speaker, results coach, and radio host. He is a founding member, show host (Beachside CEO) and News Director of the Home Business Radio Network. He is a founding member, and currently serves on the Board of the Association of Network Marketing Professionals
Follow Me:
