Common Strategies to Increase Your Bonanza Selling
Marketplaces are being flooded with new sellers, but not many buyers.
Bonanza is a fast-growing marketplace that has been getting more popular recently. It’s often compared to eBay, and even though it’s still relatively new, more sellers are joining the platform.
If you are an eCommerce merchant and have not yet used Bonanza, now is the time to do so. With more than 40,000 sellers and 22 million items listed for sale, it’s a marketplace that will only continue growing.
Let’s get right to it. Here are some of the most common mistakes that new Bonanza sellers make, but first, let me tell you why I think this is an excellent place for your business.
With Bonanza, sellers can offer their products to shoppers with ease. They have tons of reasons why you should use them too:
- Low Seller Fees– Bonanza is different from most other online marketplaces because they don’t charge listing fees. Instead, sellers are charged based on Bonanzans’ final offer value (FOV).
- Excellent Support for Sellers– Working with Bonanza is like dealing with a kid who doesn’t know how to do anything. If you have any issues, no matter what they are or where they come from, it’s best not to take them up the chain of command and work on resolving them yourself.
- Quick Start– Bonanza has a different approach to online shopping: they don’t use stores instead of using “booths” that are simple and easy for anyone to set up. Setting up a booth is easy. You can do it in just minutes.
- Accessible Customer Communication –If you’re worried about finding the perfect gift for your loved one, then don’t worry because Bonanza has a chat option that will allow you to contact sellers with questions and concerns. We love this feature because we can get answers faster than email. This will prevent customers from clicking away to the next seller.
- Unlike eBay, Bonanza is a unique marketplace that provides more than just an auction-style platform. It has a lot of products, but it’s straightforward to navigate. Plus, there are no auctions! Customers can interact with sellers in real-time by chatting or commenting on items in the market. Sellers are encouraged to enable this function so that they don’t miss any opportunities.
1 – Use Bonanza’s Customer Marketing Tool
With the Customer Marketing Tool, sellers can access important data about their customers. This tool will tell you who has purchased from your shop before and what they’ve bought in order to make more targeted marketing campaigns.
If you need to, it’s easy enough to look up your customer records and take notes about them.
The other great thing about this service is that you can also access the contact information of visitors who don’t buy anything but sign up for your booth. This allows you to send them marketing materials and target specific groups.
2 – Import eBay Feedback
To build a good reputation with buyers, it is important to have positive feedback from them. I’ve noticed that sellers who are new often don’t get the same number of sales because they haven’t had time to establish trust and credibility.
Importing feedback from other platforms helps show that you are trustworthy and run a reputable business.
3 – Optimize Your Bonanza Booth
Every Bonanza booth is different, but there are a few key principles that can be applied to all sellers. You need to optimize your space by improving product listings and increasing traffic:
- Product titles and descriptions– Make sure your titles are SEO-friendly and make the descriptions accurate. Don’t include anything that is not necessary.
- Product images– Make sure that your images are sharp and appealing to all buyers.
- Pricing – You need to know how much you want your products and services to cost in order for them to be successful. If you are already using Bonanza to sell your products, remember that they don’t charge listing fees so passing on those savings can make them even more attractive.
- Shipping– You should always be sure to list your shipping policies and details. Even if you have a chat service available, some customers will simply leave your booth without getting the information they need.
4 – Use Bonanza’s Knowledge Base
Have questions about how to set up your Bonanza booth and start selling? We have the answers.
There are many rules, policies, and procedures that you should know about before starting to sell on Bonanza. The Knowledge Base will help guide you through these steps.
5 – Work on Top-Rated Seller Status.
As a seller on Bonanza, you’ll notice that when customers are buying from your store they will be able to see how many reviews you have and what percentage of them were 5-star. This status lets people know that they can trust your business.
In order to be a Top-Rated Seller, you must fulfill these requirements:
- It’s not enough to post your items on Bonanza for a few days. You need at least 90 days of sales history before you can start earning trust from buyers.
- In order to qualify for this card, you need at least 25 transactions within the first year.
- You must be making at least $250 in annual sales.
- Follow all Bonanza policies
- It’s important to have a refund rate below 20%
- With your reviews, be sure to get an average of 4.9 stars or higher
- In order to keep your inventory from becoming out of date, you should mark as shipped every transaction that has been received and is ready for shipment.
One good thing about being a Top-Rated Seller on eBay is that if you’re already one, Bonanza will import your status and feedback from the site.
Bonanza is a new site that connects shoppers with the best products from all over, as well as providing sellers with an online marketplace to list and sell their wares.
If you’re thinking about selling on the Bonanza marketplace, avoid these common mistakes and watch your business grow.
If you’re looking for a way to manage your products without spending all of your time on it, then take advantage of the Bonanza inventory management software. The system will automatically sync up product levels and shipping operations across every sales channel that you have.