If you've stumbled upon this Bidify review, chances are you are doing some necessary research before making the decision to join the company. Considering the recent well-documented collapse of Zeek Rewards, I congratulate you on your due diligence. Before investing in a business opportunity of any kind, it is beyond necessary to comprehend the company's makeup, leadership, and intended direction.
Bidify is no Zeek Rewards!
Bidify is the marketing wing of a penny auction company called Bidsson. In case you are unaware, another penny auction giant took a tumble a few short months ago.
Zeek Rewards was exposed as a $600 million dollar Ponzi scheme. Fortunately, the Securities and Exchange Commissions sniffed out the scam before it grew any larger.
With close to a million people adversely affected by the Zeek Rewards Ponzi scheme, it is reportedly the most widespread scam of its kind ever.
Because of the concerns following the Zeek crash, Bidify made some structural changes to its multi-level marketing compensation plan. The first change made by Bidify concerned the initial investment investors are allowed to make.
While investors used to be able to make an initial investment of 25,000 Euros, Bidify investors are now limited to a 5,000 Euro investment.
Bidify: Legitimate Penny Auction MLM?
As I mentioned before, Bidify is a multi-level marketing penny auction company. Unlike Zeek Rewards, Bidify is a legitimate business opportunity.
To become a commission qualified Bidify affiliate, members must generate a personal sales volume of 25. Personal volume is measured in Bidify using the acronym PV. 1 PV translates into 1 euro. Bidify affiliates accumulate personal volume by purchasing bids or selling them to retail customers.
Bidify commissions are paid out to affiliates using a uni-level compensation plan. To explain this comp plan structure simply, a Bidify affiliate is a level one affiliate. New affiliates they recruit are on the second level. The next affiliate is on the third level and so on.
The number of levels an affiliate is commission qualified for depends on the tiers they qualify for. Bidify is a 5 tier program. The table below sufficiently explains how the tier program works.
Tier 1- You have to be a “qualified” affiliate– 10% on Level
Tier 2 qualified affiliate + 25 GV – 10% on level 1 and 4% on levels 2 and 3
Tier 3 (50 PV + 100 GV) – 10% on level 1 and 4% on levels 2 to 5
Tier 4 (50 PV + 200 GV) – 10% on level 1 and 4% on levels 2 to 7
Tier 5 (50 PV + 300 GV) – 10% on level 1 and 4% on levels 2 to 8
Success in Bidify Depends on…..
In case you are unaware, the overwhelming majority of multi-level marketers never turn a profit. These failures are generally not the results of any sort of scheme or scam.
Failure in this industry lies solely on the individual marketer. While multi-level marketing can be an incredibly fruitful opportunity, your ultimate payout depends on your personal effort.
In order to succeed in MLM, you will need to have a clear and effective recruitment strategy. How do you plan on growing your Bidify business?
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