Relentless Simplicity - The Bonanza Blog

Welcome to the Bonanza Blog! Here you will find all the latest news about our online marketplace, with timely stories about how to get the most out of your selling online and effectively manage your online shop.

It's Anniversary Week at Bonanza

Celebrate good times, come on! Let’s celebrate.

Welcome to Anniversary Week, Bonanzlers! Can you believe Bonanza is turning 10 this year? We’ve been celebrating like any 10-year-old would: by eating bagel bites, listening to Selena Gomez, and riding razor scooters around the office.

Okay, not really. We’ve actually been dreaming up ways to thank those who are responsible for helping us make it to age 10. If you’re reading this, you’ve played a role in making Bonanza the place it is today. Whether you just joined Bonanza (hello, new friends!) or have been a longtime member since our birth, we appreciate you.

Join the Cool Kids Club (trademark pending)

As a way to say thanks for using Bonanza, we are running our annual Membership sale promotion.

Save an additional 25% off annual Gold, Platinum, and Titan membership subscriptions, now through June 22nd.

Sign up now to save on membership-only features designed for professional sellers like you:

Purchasing an annual membership during our sale will save you up to $900 off the monthly subscription price. With no contracts required, what do you have to lose? Don’t miss this opportunity for huge savings on a membership that will benefit your business... (continued)


Modernizing Bonanza's Feedback System

You’re a shining star, no matter who you are

Spring’s in full swing here in the Northern hemisphere. At Bonanza HQ, we hope that everyone is enjoying long days full of sunshine and nights under the stars. Speaking of stars, we have some exciting news. Hold on to your sun hats - Bonanza’s getting a new feedback system!

Sellers have long requested a modernized way to receive and leave feedback, and we’ve been hard at work making your dreams come true. We’ll be transitioning from a positive / negative feedback system to a 5-star feedback system in the next couple of weeks.

 Here's a sneak peak at what your feedback page will look like. 

Why the switch?

Using a 5-star system will provide a deeper understanding of transaction quality for buyers and sellers alike. Our current feedback system with only three possible ratings has its limitations. A 5-star system will bring much needed insights for both parties.

What’s going to happen to my current feedback?

Don’t worry, your current feedback isn’t going anywhere! All positive reviews will be converted to 5-star reviews, all neutral reviews will be converted to 3-star reviews, and all negative reviews will be converted to... (continued)


Seller Survey 2017 Results

For the first time in recent history, April showers really did bring May flowers to Seattle. It’s been sunny for two days, so we at Bonanza HQ have become emboldened to rock our Birkenstocks sans socks and take our lunch breaks in the park.

And just as this warm weather has our outsides feeling warm and smiley, this year’s seller survey results have had the same effect on our hearts. We got tons of helpful insights that have impacted our business goals for 2018. If you provided feedback on the survey, please accept a hearty “THANK U” from all of us at HQ.

The results of last year’s results

Before we get into our goals for 2018, we thought a recap of last year’s survey results might be helpful. Here’s an update on our 2017 projects:

Increased advertising efforts

1. Advertising for your Webstore

Many sellers have stated that the biggest risk for opening a Webstore is driving traffic on your own. With that in mind, we created the Webstore Broadcaster. This tool automatically creates Google Shopping ads for your Webstore on your behalf. No more spending hours tweaking keywords and guesstimating ad bids. Simply choose how much you’d... (continued)


How to make commission-free sales

Since the beginning of time (or at least 2008) we’ve been sweating the small stuff so that you don’t have to. But when you go the extra mile to drive traffic to your business, we think it deserves recognition. Unfortunately, we can’t track each of you down individually for a hearty pat on the back, but that got us thinking: is there another way we can acknowledge these above-and-beyond efforts?

The answer is yes: commission-free sales. We want to make sure you have the tools you need to succeed on Bonanza, and we feel that sharing information about how to make commission-free sales can help with that.

There are three ways to receive commission-free traffic:

  1. Use a website as a free traffic source
  2. Use your free referral link in your own marketing efforts
  3. Create a customer marketing coupon

Commission-free means that when you make a sale as a result of the above efforts, you won’t pay any final value fees. These sales include any sales made to buyers whose last arrival to Bonanza came via one of these three methods.

Why do we look at the last arrival to Bonanza?

Our birthday wish is to become clairvoyant, but until that... (continued)


3 Tips From Successful Multi-Channel Sellers

This guest blog was written by multi-channel eCommerce Consultant at ChannelSale.com.

The stories and strategies of successful multi-channel sellers might seem pretty ordinary. However, when the various layers are unearthed, you can easily tell that there are important factors at play that make these endeavors a massive success.

If you’re an online seller using more than one selling platform, one of the easiest ways to increase your sales and returns is analyze successful sellers in your market and take after them.

To give you a head start, here are 3 tips and tricks used by highly profitable multi-channel online sellers.

1. Integrate All The Stores Together On A Single Platform

Bonanza has created tons of tools to help manage your business across multiple channels. However, as your business grows, handling the odds and ends of these channels can range from tedious to downright overwhelming. Things like feed optimization and product listing descriptions might take a backseat to inventory management and order fulfillment.

This is where a multi-channel service can come into play. With a centralized platform, you can easily integrate your marketplaces, webstores and comparison shopping engines together, fueling your business with higher efficiency and cost-effectiveness.

Learn more about... (continued)


Introducing BonanzaVoice Virtual Assistant

Apple's got Siri. Amazon's got Alexa. Microsoft's got Cortana.

What do they have in common? As of today, they all begin their descent toward irrelevance, as we boldly announce the launch the next big thing in voice recognition. We are thrilled to present your newest friend in the AI business, BonanzaVoice!

Now, you can use voice technology to search for items on Bonanza, navigate to help articles, pay your bill, send feedback to Bonanza, or dictate messages to other users. BonanzaVoice is accessible for logged in users via the banner at the top of any page. Simply say what you'd like to do and see instant results.

When accuracy matters

To some, it may seem a perplexing question: what does Bonanza have to prove in the voice recognition space, given the recent strides of our better-funded rivals?

I'm sorry, I didn't quite catch that. Could you repeat the question?

Sound familiar? Then you know the answer.

BonanzaVoice differentiates by focusing on what we call PerfectMatchtm Accuracy as a starting point. When you're conversing with your computer, you don't have time to waste having your queries repeated back to you, or worse, not understood by some... (continued)


Case Study: Webstore Broadcaster Seller Success

Advertising made easy

Late last year, we unveiled a new tool for increasing sales through your Webstore. The Webstore Broadcaster allows you to publish your Webstore listings on Google Shopping without an in-depth understanding of Google’s advertising platform. From account management to advertising optimization, we’ll create and manage top-quality product feeds on your behalf.

How do we do this? By using the ecommerce conversion data collected from the millions of Bonanza sales made via Google Shopping.

Why open a Webstore? No selling fees, free listings, and the freedom to build your own online brand, among other reasons – learn more.

Our goal in creating the Webstore Broadcaster was to increase Webstore traffic, reduce the busywork that comes with operating a standalone website, and help entrepreneurs build their brands.

The Webstore Broadcaster works for sellers, but don’t just take our word for it. Hear from this successful seller about his Webstore Broadcaster experience.

Case Study: VKwear

Vasil, owner of VKwear, joined Bonanza in mid-2017. VKwear is an online clothing retailer of discounted quality designer apparel and accessories, and Vasil wanted a way to grow his online business. After joining Bonanza, VKwear set the following goals:

  • Increase sales and earnings
  • Build... (continued)


Early 2018 Marketing Initiatives

The positive outcomes from last year’s campaigns have helped us identify some strategies and channels that effectively reach new audiences. This year, we’re continuing to reach a wider audience through our increased marketing efforts. As we continue to promote items in different categories, Bonanza is gaining awareness as the go-to shopping place for everything our amazing sellers have to offer.

Facebook ads

As the world’s largest social network, Facebook has proven to be a great channel for us to reach large audiences of new users. We’re able to target groups with demographics and interests in common, which makes our messaging much more personal to the users viewing our ads. Jerseys and team memorabilia are two categories that account for a high number of sales on Bonanza. With this in mind, we’re spending January promoting football jerseys, apparel and other assorted paraphernalia to fans of the football teams in the playoffs.

Pinterest ads

Of the four new marketing channels we explored last year, Pinterest yielded the highest number of sales. Since we love sales as much as our sellers do, we’ve opted to run ongoing campaigns on Pinterest that align with shopping holidays and seasonal buying trends. We started the year... (continued)


2017 Holiday Advertising Recap

 

Last fall, Bonanza introduced a series of holiday advertising campaigns geared toward buyers. These campaigns were the first step in our 2018 marketing plan, which seeks to drive more buyers to Bonanza and increase brand awareness. Now that these campaigns have wrapped up, we wanted to share some of the results and highlights with you.

 

Every month, Pinterest brings thousands of visitors and drives hundreds of sales on Bonanza. In order to to reach this already engaged audience, we ran promoted pins for holiday themed items during the peak shopping season. The promoted pins reached nearly 1 million Pinterest users and were re-pinned over 300 times. By re-engaging past Bonanza users, we experienced a high conversion rate of over 10%, which is nearly five times higher than the industry average.

 
 

In 2017, Facebook drove nearly 1 million new users to Bonanza and accounted for almost 3,000 sales. We wanted to reach an even wider audience, so we decided to run two campaigns advertising women’s fashion items. The two campaigns reached nearly 50,000 unique users and increased Facebook’s last click conversion rate by over 3,000%. The last click conversion rate represents the impact of using Facebook to... (continued)


Handling Post-Holiday Returns

‘Tis the season for returns

The holidays are over and a new year is upon us. As melancholy as it is to see shriveled Christmas trees waiting on neighborhood sidewalks for Boy Scouts to pick them up, we can’t help feeling a sense of optimistic excitement about what 2018 has in store. However, it can be hard to keep that “New year, new me” mentality when you’re visited by the ghosts of customers past. Item returns are a fairly common occurrence for ecommerce businesses — 30% of online purchases are returned, and that number tends to skyrocket after the holiday season.

Bonanza is home to over 40,000 sellers, each with unique business needs and individual policies. There’s no “one size fits all” returns process at Bonanza because we want you to have the option to handle returns in a way that works best for your business. However, there are three major steps to processing a return on Bonanza, each customizable to your business model.

Step 1: Receiving the returned item

Your item has gone on a grand adventure, traveling far and wide across many magical lands, only to discover it must make the long journey home to return back to... (continued)


The 2017 Seller Survey is live! We need your feedback

Happy New Year, Bonanzlers!

We hope you had a great holiday season and are excited to see what 2018 has in store. We can't believe another year has gone by and Bonanza is turning 10 this year! We've got tons of fantastic features and terrific tools in the pipeline for 2018, but as a seller-focused marketplace, we want to hear what you'd like to see at Bonanza in 2018.

We want to hear from you...

Our annual Bonanza Seller Survey is now open, and we’d love to get your feedback. We'll use your input to guide our product development efforts over the coming year. 

Each year, members of the Bonanza Team read every response (yes, every response!) and we then use the survey results to prioritize new features and other changes over the coming year. This is your chance to have a big impact on the future of Bonanza as a selling platform! Your opinion is very important to us. This survey is less than 20 questions long and should take no more than 10 minutes. Thank you so much for continuing to build your business on Bonanza. We are committed to making this your favorite place to... (continued)


Announcing the Bonanza Sellers Android app

The Android app is back

Back in September, we announced that the Bonanza Sellers iPhone app (2.0) had officially launched. This announcement received oohs and aahs, excited exclamations, and overall fanfare. But many of you followed up your support of the new iPhone app with questions of when our Android app would be ready. We promised you an Android app by year's end, and I'm happy to report that we have delivered on that promise. That's right y'all - the Android app (2.0) is here! You can download it from your mobile phone's App store right now.

App Dashboard

Orders and listings

You can manage your orders through the Bonanza Sellers app. Simply tap the "Orders" tab in the navigation menu on the bottom of your screen. Here's where you can see your recent orders. Clicking on an order will provide the order summary, including total price and shipping information. Click the back arrow to return to the Orders tab at any time. 

You can also manage your listings through the Bonanza Sellers app. To do so, tap the "Listings" tab in the navigation menu on the bottom of your screen. All of your listings are stored here. You... (continued)


Providing Superior Service

Service with a Smile

As an independent business, providing excellent customer service is not an option - it’s a necessity. According to a recent survey, 3 in 5 Americans (59%) would try a new brand or company for a better service experience. This means that if you place customer service as a top priority for your business, you stand to gain all the customers that your competitors lost by providing an inferior experience.

Elements of a Stellar Customer Experience

In order to provide the best experience possible for your customers, we’ve identified three major areas to focus on. When done well, these elements can lead to a booming and loyal following of repeat customers and a positive online presence that is attractive to potential buyers. When ignored, these elements can end in disaster for your business.

Transparency

One of the most important things in providing a great experience for your customers is being upfront and honest from beginning to end. Customers want to feel like they’re buying from a reliable company, so transparency will build a level of trust between you and the customer, and they will be more likely to shop with you again.

There are many ways to... (continued)


Shipping During the Holidays

Wait a Minute, Mr. Postman

When you first start selling online, shipping is often a daunting task. Great item photos edited to perfection? Got it. Lengthy descriptions and a nice logo? Nailed it. But the shipping and fulfilment process? Please send help!

Add the whirlwind of holiday shopping and these anxious feelings multiply. However, shipping doesn’t have to be intimidating - if you have a plan of attack before the rush begins, it should be smooth sailing for you and your business.

“Order By” Deadline

The most important thing to communicate to potential buyers during the holidays is your “order by” deadline. This is the last date a buyer can purchase an item in order to guarantee delivery by the holidays. For example, if your package will take a maximum of 10 days to be delivered, your “order by” deadline might be December 14th to receive the item by Christmas Eve. Give yourself plenty of time when setting this deadline. If it takes you a few days to package the item and get it to the post office, factor that into your deadline. Make sure you look at the estimated shipping times for different mail carriers, as they may... (continued)


Turn Up the Traffic

Get pa-rum-pum-pum-pumped 

Don your cozy sweaters and fleece-lined beanies. Out with the pumpkin spice lattes, in with the peppermint mochas. Start making small talk with your coworkers about daylight savings and the negative impact it has on your sleep cycle. It's THE HOLIDAY SEASON, so whoop-dee-do and hickory-dock, have we got some news for you.

This holiday season, we are smiling like the Grinch after his heart grows three sizes. That's because it's time to announce some major updates to our TurboTraffic tool. Record scratch. "Wait a sec. What even is TurboTraffic?" 

 

TurboWhat?

TurboTraffic is a unique Bonanza program that helps increase shopper traffic to sellers. It works together with our advertising program, using the ad platforms you've selected to get maximum exposure for your store and listings. Platinum and Titan members enjoy the benefits of TurboTraffic as a perk of their membership plan, but that doesn’t mean that others can’t also reap the rewards! We offer individual TurboTraffic packs available to all sellers for $24.95 per pack.

Does this thing work? Show me see the stats.

Bonanza HQ is full of detail-oriented folks who love to nerd out about data. We’ve analyzed the sales numbers... (continued)


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