A business can be evaluated meticulously by examining its business values. Financial performance indicators portray merely one side of the whole picture.
In today’s increasingly demanding and aware customer following, the non-financial metrics also weigh in heavily. A business’s aspiring vision and objective can define progress and its future potential.
DealDash is one of the leading penny auction sites founded in February 2009 in Finland. The founder William Wolfram came up with the idea of an online platform that offers a level playing field to the participants.
William wanted to offer an opportunity for every customer to get the desired item even if they lost the bidding game.
At that time, many auction sites did not offer the same opportunity to their customers, thus evaporating millions of dollars from the customers.
So, what made DealDash different from others? How did they manage to grow to a community of over 8 million registered users?
DealDash created differentiation through a new business model offering level playing terms to the customers. The success was shaped by a clear and dedicated vision and aspiring team values.
DealDash- Vision, Mission, and Objectives:
William Wolfram faced a deceptive experience on an auction site losing $50 and without any alternatives. He decided to turn the failure into a success story.
The idea of DealDash became a reality with a vision of creating a fair playing opportunity for everyone. A platform where anyone can stand a chance of winning anything on an equally fair basis.
DealDash’s VISION became to provide customers with a unique bidding experience. Even if a customer loses a bid, he/she stands a chance to buy the item at a listed price. DealDash, with its VISION, puts the customers as a priority.
They derived the mission and objective from that vision of being a customer-centric business. DealDash targets to become a business where customers can bid and buy with the confidence of a money-back guarantee.
That customer-first approach can be evaluated with efforts of reaching out to the customers on a regular basis.
Values and Team Culture:
For DealDash, reaching customers directly became a new normal. This unique approach of interacting with customers directly became their success mantra.
“Treat your customers as you would want to be treated yourself.”
That’s the opening line of defining company values by DealDash. Simply put in the customer’s shoes and realize how you feel about the experience of your own business. It remains perfectly in line with the founder’s primitive experience, which turned his misfortune into a successful business.
One of the most empowering business models is to delegate decision powers to the employees. With freedom comes creativity and responsibility. Here is how DealDash defines its team culture:
“Take ownership, take the initiative, take action, YOU are the company.”
This approach of freedom and flexibility has resulted in a dynamic team culture. A decentralized and all-inclusive team culture speeds up decision-making with responsibility. For employees, it offers freedom of working style and great career growth potential.
A diversified team culture brings innovation and a culture of tolerance to the team. DealDash’s diversified team culture comprises a team from around twenty different nationalities.
The challenge is to work hard and stay innovative; there is no bias of race or gender to hinder your career growth with DealDash. The hierarchy of moving with career growth is not climbing the ladder; it’s about growing higher in stature.
Business Model:
Two main points create all the differentiation for DealDash, which other auction sites lack.
- The Buy it Now and Get back the Bids offer
- Money-back Guarantee of up to 90 days
Customers register for the account through a simple signup process. They buy the bid packs for different prices. A customer can bid on any open auction, increasing the item’s base value by 1 cent. The highest bidder wins if there is no challenger after a 10 seconds bid clock.
That’s not special with DealDash, though. What about the customers losing the bid? Any customer can click the “buy it now” button to get the item for its listed price.
There are no losers with DealDash.
Purchased or won items are shipped free of charge. If you’re not satisfied with your first bidding experience, you get the money back. You can claim the return within the 90 days window without any questions from DealDash.
Remember the house rules with bidding auctions on DealDash. No more than two family members can participate in each bidding. You will not be able to run for the same won item within 30 days. You can win a maximum of 50 bids per week.
It sounds fair, no? That’s how DealDash makes a fair and level playing field for every participant.
