Adding A Default Minimum Required Buyer Bid In A Ping Post Exchange

In A Ping Post Exchange you have the ability to set a minimum price floor that you want all leads to sell for, which we refer to as the Default Minimum Required Buyer Bid.

The Default Minimum Required Buyer Bid allows you to set a Global / Campaign Level rule that will automatically reject bids if the bid price returned is less than the set value after margins are applied.

Currently this feature exists on a Supplier level, but now you can add a Global setting so that any bids that are returned, regardless of Supplier, are under a specific amount.

How To Set A Default Minimum Required Buyer Bid

1. Go to your Ping Post Exchange Settings in your Exchange.
2. Locate the 'Default Minimum Required Buyer Bid' option and toggle it on.
3. Enter your minimum required buy bid price.

Once set up and live if your Supplier sends in a PING and it is rejected due to the Default Minimum Required Buyer Bid price the Supplier will receive back an error that reads "Buyer bid lower than Supplier required bid".

If you are reviewing the lead details the type of Minimum Require Buyer Bid will be shown - "Set on the Supplier" or "Set on the Campaign":

NOTE: If you have a Default Minimum Required Buyer Bid on your Exchange, and you have a Supplier that also has a Minimum Require Bid set up, the Supplier level Minimum Required Bid will take precedent and be used.