The Bonanza marketplace has revealed their marketing initiatives for early 2018 which revolve around social media promotions. They say that lessons learned from their 2017 activities have helped to identify some strategies and channels that effectively reach new audiences.
Of the four new marketing channels Bonanza explored last year, they say that Pinterest yielded the highest number of sales.
With this recent historical data Bonanza will be running ongoing campaigns on Pinterest that align with shopping holidays and seasonal buying trends. They started the year off promoting “New Year’s Resolution items and are beginning a Valentine’s jewelry campaign this week.
Out of over 20,000 categories on Bonanza, Jewelry & Watches are one of the top 10 categories in terms of revenue, with peak sales during January and February.
Facebook has proven to be a great channel for Bonanza to reach large audiences of new users. Being able to target groups with demographics and interests in common makes Bonanza’s messaging much more personal to the users viewing the ads.
Jerseys and team memorabilia are two categories that account for a high number of sales on Bonanza so in January they are promoting football jerseys, apparel and other assorted paraphernalia to fans of the football teams in the playoffs.
Spring Women’s clothing promotion
In March the marketplace will be highlighting one of Bonanza’s highest sales category – women’s clothing.
In 2017, women’s dress sales on Bonanza saw a 30% increase during March and April with nearly 17,000 searches during that time frame included the word “dress.” In order to reach a younger demographic on Facebook and Pinterest users, the Bonanza fashion campaigns will highlight prom dresses.
Pinterest is often used for wedding planning and inspiration, so Bonanza will run promoted pins featuring wedding guest dresses and bridesmaid dresses.
What if you don’t sell dresses, sports clothing or Jewelry & Watches?
As with all campaigns, highly targeted and focused marketing tends to work best. However attracting new buyers to Bonanza should benefit all sellers on the marketplace in the longer term. Once a customer visits the site and perhaps makes an initial purchase then they’re much more likely to revisit and make future purchases.
Bonanza (originally called Bonanzle) was founded in 2008 and so is a well established marketplace boasting over 20 million listings at any one time. Fees are significantly less than eBay or Amazon and you only pay when you sell – there are no listing fees or monthly subscriptions.
Bonanza is less known in the UK, but there is evidence that they’ve achieved some popularity in the US and sellers on Bonanza regularly report satisfactory sales numbers, although it tends to be smaller SME sellers than large brands and high street retailers that use the site.