Earlier this month, Bonanza informed sellers it was launching new seller ad initiatives, including ad campaigns on Facebook and Pinterest. Bonanza is also entering into new partnerships. In one such deal, a lifestyle publication for millennial women called PureWow will feature hand-picked items from Bonanza in their November newsletter. Bonanza is also partnering with Cool Mom Picks to feature Bonanza items in its upcoming holiday gift guides.
Reaction to the announcement was positive. One seller who thought it was a great direction asked what positive results Bonanza looked to receive and how it translated to sellers. A Bonanza moderator responded, “We will be measuring results based on new visitors, new signups and of course more sales. The more new buyers we inform about Bonanza, the more opportunity for sales our sellers have,” she wrote.
Announcement follows:
The holidays are fast approaching and here at Bonanza, we’re gearing up for the best season ever. Our team is always looking for opportunities to bring more shopping traffic to Bonanza, and we’ve been exploring new ways to advertise that will get results. We’re excited to announce that we’re launching several new advertising initiatives this season. These include ad campaigns on Facebook and Pinterest and partnerships with PureWow and Cool Mom Picks.
So why did we choose these platforms? High user engagement and the opportunity to build brand awareness for Bonanza! The average Facebook user logs in eight times a day, and almost 95% of Pinterest users visit to make or plan a future purchase. Investing in advertising on these social media channels helps us find new shoppers on the platforms that they use most, and allows us to use special targeting to show them the Bonanza items we know they’ll love. Even better, a strong social media presence means that more shoppers will recognize Bonanza as a great place to shop, and return to our site the next time they’re looking for that special item.
Social media isn’t the only new channel we’re adding this quarter. We’re also building partnerships with influential online publications. PureWow, a lifestyle publication for millennial women, will feature hand picked items from Bonanza in a newsletter next month. PureWow has a loyal and highly engaged audience who enjoy witty editorials featuring the latest items to shop. By making their content shoppable, PureWow will position Bonanza as an exciting new marketplace for millennial women.
We’re also partnering with Cool Mom Picks to feature Bonanza items in their upcoming holiday gift guides. These gift guides are often featured in major publications such as the Today Show and Martha Stewart. Dedicated Cool Mom Picks readers will see items from Bonanza sellers while looking to make holiday purchases.
These new platforms are only the first step in our increased advertising efforts. Positive results from these social media campaigns and content partnerships will allow us to expand our efforts into even more areas in the future. We plan to continue building the Bonanza brand and reaching a wider audience of new shoppers all across the internet.
SOURCE: Bonanza Announcement
All these years and now they are thinking about advertising. These computer geeks should of been doing advertising a long time ago, but they waited until a few years of each year tripling their revenue to do this.
The next eBay and sellers complain about low to NO sales on this site.
“Reaction to the announcement was positive” Of course it’s positive. Bonanza monitors the responses and those negatives seem to disappear.
Selling here is like selling on eBay, you are paying those higher fees, you go into black outs (basically you have to PAY TO PLAY) or you won’t be seen.
“The next eBay and sellers complain about low to NO sales on this site.
“Reaction to the announcement was positive” Of course it’s positive. Bonanza monitors the responses and those negatives seem to disappear.”
I really like Bonanza, but the above is true.
I have posted a few comments on their blog entries which contained mild critiques and/or suggestions and they have not be posted, left indefinitely in “waiting for approval” limbo.
This policy reflects badly on, what is in most ways, a very well run and transparent corporation. They come off as looking thin skinned and closed to seller input. I completely expect this behavior from eBay, but did not expect it from Bonanza.
Regarding this specific advertising campaign, I don’t think it will do any good for Bonanza sellers outside of those selling fashion products or home goods. For some reason, which Bonanza management will not discuss, they seem very focused on those areas at the expense of all others. Since I sell books, magazines and comics, obviously I would prefer they advertised more broadly.
By targeting certain areas Bonanza management perhaps thinks they are spending smart, but I think this is a short sighted point of view. Success for their approach is that of being a niche marketplace, and I believe the site has much greater potential than that. And if Bonanza becomes known as a shopping destination for fashion goods, that will be a very hard identity to shake off if they hope to expand. They will run into the same problems that Etsy has dealt with in its expansion.
JQ
I think Bonanza is focusing on the Fashions because of all that clothing they purchased. Remember that they purchased clothing from sellers who didn’t want to take the time or wait to sell their fashions.
That became a BIG Bust like the handbags section they tried.
Bonanza needs to correct their mistake so why not benefit them when advertising and forget everyone that got them, employees and families their Freedom February work vacation on some nice, tropical island.
“An Etsy moderator responded” huh? what am I missing here? Did Etsy buy Bonanza? Did Bonanza buy Etsy?
A very clear sign that both are in trouble
@YourKiddingRight – that was my mistake – I fixed it. (I had written “an Etsy moderator” instead of “a Bonanza moderator).
Thanks for keeping me on my toes.
Like any other platform it has good and bad. Sales for me are nothing to brag about, but on occasion I get a big sale on it that I wouldn’t have on other sites.