Think of your ZeekRewards VIP Retail Profit Pool this way: Join Now
1. You have a bucket called "VIP" and a bucket called "Bonus
Balance" and a bucket called "Leftover Change" and a bucket called "Cash Available".
2. Each time you buy and give away a VIP Bid to a customer in your ZeekRewards Back Office a point
is added to the VIP bucket.
3. From time to time the company awards points into your Bonus Balance. For
example, each new signup gets 100 points in their Bonus Balance to get them
started. New members who choose to initially join at the Silver, Gold or Diamond level
upon their initial registration receive 10, 50 or 100 bonus points.
4. In your VIP Retail Profit Pool Report there is also a Bid Repurchase Preference box.
This tells the VIP Retail Profit Pool what percentage of your daily rewards you want to
withdraw in cash and what percentage you want to use to purchase more
VIP bids. The system recommends a percentage based on the size of your
VIP bucket, but you can set it to any percentage you choose. You can
click the "Here's Why" link to understand more about the percentage setting.
5. Each night, after the close of the normal business day, the company takes
part of the day's overall business production which can include auction
sales, product sales, member renewals, bid sales and other income production
from our member companies and divides them among the qualified members.
"Qualified member" means that they are a Silver, Gold or Diamond member and
that they have placed an ad promoting Zeekler, have
registered it in their back office during the preceding 24 hours and have purchased at least 10 VIP bids via their credit card or AlertPay. Free
Members do not receive awards for their VIP bucket but can still
see the award in their Bonus Balance bucket.
6. Here's an example as it relates to the VIP bucket: Let's say you
are a qualified member and you have 500 bids in your "VIP" bucket.
Then let's say that tonight the company awarded a 1.5% payment. And let's
assume that your Bid Repurchase Preference is set to zero percent (0%). 1.5%
of 500 is 7.50. Therefore, your Cash Award amount would be $7.50. That $7.50
would appear in your Cash Available bucket. If the same percentage was paid
tomorrow night you would see $15.00 in your Cash Available bucket. this
would continue, based on that Award percentage, until you had been paid
on them for 90 days. Then your VIP
bucket would be empty and you would not receive nightly Awards until you
bought more bids.
7. Now, let's look at that same example but with the Bid Repurchase
Preference set to one-hundred percent (100%). Tonight you would still
receive the same $7.50 Cash Award, but instead of going into your Cash
Available bucket it would, instead, be used to purchase 7 more VIP
bids (and you'd have 0.50 towards the purchase of another bid) which would immediately appear in your Zeekler bid bank ready to use on
the auction. You would then see your VIP bucket increase by 7 to
507. Tomorrow night, based on the same 1% Award level, you would receive an
award of 1.5% of 507 or $7.605. This would buy you 8 more bids and increase
your VIP bucket to 515 with twenty cents ($0.105) in your "Leftover
Change" bucket. Each time the Leftover Change bucket reaches a dollar or
more, a dollar is deducted from it and buys you another VIP bid.
8. Now, how does the Bonus Balance bucket play into all
of this. Very simple. The Bonus balance is calculated separately, but is increased by the same
percentage every day that you qualify as the VIP bucket.
So, if the Award is 1.5% and you have 100 points in your Bonus Balance bucket then tonight the
Bonus Balance would increase to 101.5. Since Bonus Awards cannot be withdrawn as cash the
Bid Repurchase Preference does not affect them. They will always generate awards at 100%.
Tomorrow night the 101.5 would increase to 103.0225. Since Bonus points are not buying bids
there is no need to track the 0.0225 separately. Your Bonus Balance will continue to grow for
a full 60 days and will transfer over as points (not bids) into your RPP VIP Point Balance. That
would be the 100 points you started with plus whatever points awarded that you have accumulated
over the 60 day earning period. For example: Awarded points equal 125 and original bonus of
100 (total 225 points). At that moment, the original 100 points would drop off and the 125
remaining points would be transferred to your VIP bucket! From that point forward your daily
Cash Award amount would be based on the full amount in that bucket, INCLUDING the points that
were transferred from the Bonus Balance bucket.
9. Remember that Bid Purchases will generate awards for 90 days and Bonus Points will generate
awards for 60 days. At that point they "drop out" of their bucket, but if you have been using
100% bid repurchase preference instead of withdrawing cash, your RPP VIP Points will have grown
by even more than they started with.
