5 easy steps to Sell on Bonanza

5 easy steps to Sell on Bonanza

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Selling on Bonanza in 2019 seems interesting as Bonanza has emerged out as one of the leading marketplaces. Bonanza website reviews also suggest that selling on Bonanza can be path defining for any seller. But without proper knowledge, selling on Bonanza can even prove out to be challenging. Hence, here are 5 easy steps to sell on Bonanza!

Let us know our marketplace a bit better!

What is Bonanza?

Bonanza.com is a rapidly growing online marketplace, headquartered in Seattle Washington. The Bonanza marketplace is used by sellers to sell products in every category. With the help of Bonanza, sellers can easily set up their booths and list their items. The main feature of this website is its simplicity and transparency.

Image Source: bonanza.com

Getting started to sell on Bonanza is a very simple process. It does not include any listing fees, monthly store fees, and other sneaky fees. Bonanza helps the sellers through forums, community and chat feature which allows the seller to develop a strong relationship with the customers.

Introduction to Bonanza marketplace

• Bonanza.com is a fast-growing online marketplace headquartered in Seattle Washington.

• Bonanza is like an online shopping mall that connects buyers and sellers from all over the world to transact directly.

• It provides a variety of tools to help your business grow.

• Bonanza was voted as the “Most Recommended Marketplace” in 2016 over eBay, Amazon, Etsy and all the other competitors by over 50,000 sellers in the online largest seller survey.

• There is over 20 million product catalog listing on Bonanza.

Bonanza topped the list for Communication in 2017

Source: Ecommerce Bytes

Features: 

• In Bonanza.com, the sellers can import listings from eBay or Etsy.
• The store can be set up easily and quickly.
• It requires minimal fees which only applied when the user makes a sale.
• Bonanza.com includes booth and item traffic statistics which helps in monitoring the booth.

Why choose Bonanza marketplace?

• When you sell an item directly through Bonanza, you will always pay their base 3.5% fee rate.

• Allows sellers to import from eBay, Etsy, Amazon, Shopify.

• Bonanza provides the feature of adding your items to Google shopping.

• It is very easy to handle your store on Bonanza.

• Most marketplaces focus exclusively on promoting their brand to buyers. Amazon purchasers seldom know which dealer their item originated from. On the off chance that the dealer is particularly effective, Amazon has a propensity for building the vendors’ item themselves to undermine the shipper. Bonanza doesn’t think this practice is fair for hard-working sellers.Bonanza works to strike a balance that allows sellers to make sales and build a brand.

• Data about your booth is highlighted on every product listing, and customers are urged to peruse your different products. Shoppers can also send you a direct message from any item listing page.

Top selling items on Bonanza

Products belonging to almost all the categories find their place on Bonanza which means their targeted audience is almost universal. People of all gender and age come to Bonanza to shop for their favorite items. The most popular, broadly speaking, categories at Bonanza are:

1. Women’s Fashion
2. Men’s Fashion
3. Home & Garden
4. Health & Beauty
5. Collectibles and art
6. Jewelry
7. Handbags etc.

To see the product types at the granular level, visit –> All Bonanza Product types

Steps to create Booth on Bonanza?

Booth creation is a simple 5 step process-

1. Click the green button to “Open your Booth”.
2. Set your booth title, username, contact email and password*. You can also use your Facebook or Google login to create an account.
3. Connect your Paypal and/or Amazon Pay accounts to receive payment from buyers. Set your return policy, and enter your personal identification information.
4. Enter your credit card information to validate your identity.
5. Choose your pre-approval and advertising settings, and finalize your booth set up.

For detailed steps: https://www.bonanza.com/site_help/booth_setup_basic/booth_setup_steps

Tools on Bonanza

• Customer Marketing Tool

• Seller Stats Dashboard

• Webstores (With Webstores, you can introduce buyers from your booth to your Webstore inventory, where you pay zero fees on all sales made)

Refer: https://www.bonanza.com/site_help/basics/how_bonanza_works

Extra features on Bonanza?

• Add video
• Booth vacation

• Discount and coupons

• Allow shoppers to negotiate

• Payments through Paypal and Amazon Pay only

• Advertise items

• My Customer section

Why you need integration app for selling on Bonanza.com?

1. If you are selling on Shopify store and want to sell on Bonanza.com too, then it may not be easy to handle all processes(products, orders etc.) at both ends at the same time. So, by installing integration app you can manage processes at both ends simultaneously.
2. The app will provide real-time syncing with your Shopify store and Bonanza seller panel.

How to install Bonanza Shopify integration app?

For installing an app you should have your Shopify store and partner panel of Bonanza.

First, visit https://apps.cedcommerce.com/marketplace-integration/bonanza/site/index?cedcommerce

1. Now, fill your Shopify store URL in the text box.
2. Note: It is not mandatory to append ‘.myshopify.com’ and if append then it is also right.
3. Click on log in.
4. Now you will be redirected to the app installation page:
5. Click on ‘Install unlisted app’.
6. You have to complete 3 steps procedure:
7. There are some fields that are auto-filled with Shopify store information.
8. After filling Registration page click Next to proceed to step 2.
9. Here, you must Enter Bonanza Booth ID and you can get the Bonanza Booth ID from your partner panel of Bonanza.
10. For this, Open your profile page on Bonanza account:
11. Click on My Booth:
12. Copy the Booth ID mentioned in URL.
13. Paste the Booth ID in Bonanza Booth ID field in step 2.
14. When you enter your Bonanza Booth ID, Authenticate token button becomes enabled. Click on Authenticate token.
15. It will redirect you to log in on Bonanza:
16. Log in to your account.
17. Click Return to cedcommerce.
18. Now you proceed to step 3.
19. In this step, you can import your product from Shopify to app.
20. Click on Start Import.
21. Now, Click on Next.

Integration Of Bonanza With Different Platforms:

1. • Bonanza Shopify Integration: This integration helps Shopify store sellers in managing their products, orders, and inventory easily on Bonanza marketplace. It also offers near-real-time synchronization with your Shopify store.

• • Bonanza Magento 2 Integration: This integration helps Magento 2 store owner to connect the store with the Bonanza marketplace by synchronizing the inventory, price, and other product details for the product creation and its management between the Magento 2 store and the Bonanza website.

• • Bonanza Bigcommerce Integration: This integration facilitates the synchronization of orders, products, inventory, price and product details between the Bonanza and Bigcommerce stores.

• • Bonanza Woocommerce Integration: This integration allows sellers/merchants to list their products on Bonanza from existing e-commerce platform i.e. Woocommerce. It enables centralized catalog enabling sellers to easily get their products ready for listing on Bonanza, and further automates inventory, pricing updates, and order-notification channel.

• • Bonanza PrestaShop Integration: Integrate your Prestashop Store with Bonanza through Official Channel Partner to Grow Your eCommerce Business. Bonanza-Prestashop Integration by CedCommerce involves integration of your Prestashop eCommerce store with the Bonanza marketplace. This extension automates the ordering process and facilitates products handling and management.

Difference between a webstore & a booth on Bonanza?

Webstore:

•  
• It is a standalone website, separate from Bonanza marketplace, where shoppers can buy your items.

• It is a place where you get to create your brand and control your online presence.

• You can make your Bonanza Webstore your own by choosing a personalized URL and one of several unique designs and other customizations.

• There are no last esteem expenses when you make a deal from your Site. Bonanza charges $25/month to host your Website, but there are no other fees – no listing fees, no selling fees. You might also want to consider the annual plan, which offers sellers the best value at $255/year (bonus! you get a free custom domain name when you enroll in the annual plan). Webstore membership expenses will be automatically charged to your card on the document until the point when you cross out your membership or close your Site.

Steps for the creation of a webstore on Bonanza are explained in the following link:

https://www.bonanza.com/site_help/webstores/faq#how_do_i_get

 

Booth:

1. 1. A “booth” is your online store on Bonanza. When shoppers on Bonanza see your product, they can also see what else the same seller is selling on Bonanza.

https://www.bonanza.com/site_help/seller_success/booth_vs_webstore

https://www.bonanza.com/site_help/booth_setup_basic/why_a_booth

Bonanza Advertising

Broadcaster –

You can use it for getting more shoppers by paying some percentage amount.

You can choose where to advertise your products like Google shopping, Bonanza affiliates, eBay, etc.

Turbo Traffic packs –

Turbo Traffic is a program Bonanza offers to drive maximum buyer traffic to sellers who are enrolled as Platinum or Titan members, or sellers who have purchased an individual Turbo Traffic Pack.

Coupons –

You can add coupons for buyers.

Free Referral Traffic –

Add your referral code ‘?fref=YGXWHtN8(example)’ to the end of the URL for links to your Bonanza booth and items. You can post these links anywhere: your website, online forums, review sites, social media, or emails. You pay nothing when buyers click through and purchase your items.

How To Increase Sales On Bonanza?

While listing your products on Bonanza consider the following points in order to rank up your product –

Title and Description of your product –

1. Your product must have a Title, or it will be non-endorsed.
2. Try not to incorporate limited time content, for instance, “new”, “bona fide”, “best value,” “free delivering,” and so forth.
3. Follow the “Brand, Gender, Product, Color, Size” format when naming your listing.
4. Do not include special characters like $!@%^&~*.
5. Do not include any HTML.
6. Do not write in ALL CAPITAL LETTERS.

Category –

1. Your item must have a Category.
2. Use the deepest category possible, at least 3 levels deep when possible.

Pricing –

1. Pricing your items correctly is key. Remember, there are no up-front costs on Bonanza.
2. You just pay a little expense when your product sell, so pass those investment funds on to your purchasers by diminishing your Bonanza costs in like manner.

MPN/UPC –

1. If your item is in a category that normally has some type of unique product identifier such as an ISBN (for books) or MPN (manufacturer part number), then you must indicate no less than one of them for your listing. An UPC is required by Google Looking for all new, brand name products.

Image –

1. Include a profile picture so buyers can see who they are buying from.
2. The best size for profile picture is 400×400 pixels.
3. Listing has a product photo with variants also.
4. Double check your product photos to be sure they’re sharp, crisp images that give shoppers a great impression.
5. If your photos have cluttered backgrounds, you can instantly correct them using the Bonanza Background Burner tool.

SEO –

1. Strong searchable keywords in item title lines and descriptions.
2. Use more relevant keyword in title and description of the product so that it can be rank up and more customers can see your product.
3. Use keyword in the beginning of title of product or in the middle of title.(may be)

Shipping –

1. Be sure to assign specific shipping rules to your listings. Purchasers are an eager pack, so on the off chance that you just have “See thing portrayal” as a transportation decision then they won’t have the capacity to “Get it Now” and might forsake the transaction rather than taking the time to email you.
2. HOT TIP: Consider offering free shipping. “Over half of customers refer to “things did not fit the bill with the expectation of complimentary delivery” as a reason they desert shopping basket (much obliged, Amazon Prime).”. Many sellers will offer free shipping and increase the cost of the item to absorb shipping costs, as shoppers spend an average of 30% more on an order with free shipping.

Traits –

1. Product attributes are a path for Bonanza to get nitty gritty data – like class, brand, or color – about your things so we can enable more purchasers to discover them.

Progress bar during product edit on seller panel – (Maybe)

1. This may be the cause of rank of product on Bonanza.
2. Each point during the product edit have some percentage associated with them like title-10%, photo-30%, item details-35%[item category selected-10%+item traits added-15%+Goal description length-10%], shipping-15%, and price-10%. (Confirm)

Top Rated Seller Requirements

• Maintain a minimum of 98% positive feedback
• Active member on Bonanza for at least 90 days
• 25+ transactions with US buyers within 1 year
• A minimum of $250 in annual sales
• Refund rate lower than 20%
• Compliant with all Bonanza policies
• Tracking numbers uploaded for at least 90% of your transactions (refunded/canceled transactions excluded)

Bonanza v/s Ebay

The following are the key differences between Bonanza & eBay –

• Bonanza offers free listing of your products. Average fee per sale on Bonanza is 3.5%, which is considerably less than eBay.

• Bonanza gives you a brand as well as traffic to your booth while on eBay seller may get only traffic of buyers but can’t build your own brand. (probably)

• Bonanza sends items to list on shopping engines like Google shopping, Bing etc.

• Although the traffic is low on Bonanza in comparison with eBay, but on Bonanza there is less competition between the sellers which means buyers can easily see your product on Bonanza.

• Also, the ‘booth’ on Bonanza open a way for buyers to see more products from the same seller, this will help to increase profit for seller as well as for buyers.

Prohibited items on Bonanza

The following is the list of items that seller cannot sell on Bonanza –

1. Firecrackers, including yet not restricted to “protected and normal” firecrackers or any ruinous gadgets or explosives.
2. Controlled substances or illegal drugs, substances and items used to manufacture controlled substances and drug paraphernalia.
3. Alcohol, tobacco or nicotine products.
4. Kratom or any variation.
5. You can explore more prohibited products on Bonanza using the following link:

https://www.bonanza.com/site_help/general_selling/prohibited_items

Steps to sell on Bonanza

Step 1:

First, open the main website bonanza.com.

Step 2:

Hover over the “Sell on Bonanza” present in the upper left-hand corner of the page and click the green button “Start Selling Now”.

Step 3:

Now, under selling, you can see various options using which you can sell your items. This is the main advantage of Bonanza that you can start selling your products in just a few and simple steps.

Step 4:

Click the green button to “open your booth”.

Step 5: Set the booth title, username, email, and password and then click on “Continue Setup”.

Step 6: Connect your Amazon or Paypal accounts to receive payment from shoppers. Then enter your return policy and personal information.

Step 7: Enter the credit card information. Select your pre-approval and advertising settings and complete your booth set up.

Step 8: Add items to your booth. You can add items manually or by importing them from other websites like eBay, Etsy and so on.

There are some tips and tools which help in getting started to sell on Bonanza are:

1. Promote your booth:

In order to sell on Bonanza, you’ll need to promote your booth because Bonanza is not as popular as Amazon or eBay. Bonanza helps the users in promoting their booth so that their listing is found by the buyers. Some ways of promoting the booths are – join the Bonanza Twitter and Facebook pages, participating in Bonanza forums and Brainstorming with Bonanza each week.

2. Make your listing perfect:

Now it’s time to list your items perfectly after signing up your booth by following the below given steps:

• The item title should be straightforward and simple. Always try to think like the shopper’s mindset that how he would search for any item. For example, if you are selling black men’s trouser, then give it a title like “Black men’s trousers”.
• The item description should be simple and perfect because it is the only place that could help the shoppers make the decision to buy the product.
• The product image must be professional. While taking photos, it is necessary to pay attention to the product rather than the background of the image. Avoid using tacky wallpapers, poor lighting and those things which might be distracting to the shoppers. For this, bonanza provides the Background Burner tool which automatically removes the background of your photos and provides the white background which enhances your product’s image.

3. Monitor your booth:

After getting started to sell on Bonanza, it is necessary to monitor your booth carefully. In order to see how many people have viewed your booth, click on “My booth” under your account and then on “View item stats”. This information helps in determining which type of products are attracting the customers.

4. Import your feedback from eBay:

Bonanza also provide the ability to import the feedback from eBay that you get previously. This helps the new sellers in building their reputation in marketplace.

Therefore, Bonanza is a fast-growing online marketplace which is a great place for new sellers to sell their products and can increase their sales. If you are searching for an alternative of ebay then you can go for Bonanza because it is easy to use.

How Bonanza Advertises On Behalf of Sellers

One of Bonanza’s most powerful sales-generating tools is their custom integration with advertising channels such as Google Shopping. Once each seller has selected an advertising rate of 9% or higher, Bonanza cover the cost of bidding on their item placement in these channel’s search results at that rate. Sellers only pay the Final Value Fee of their chosen advertising rate when a page view converts to a sale. You can read all about Bonanza’s advertising here.

How does advertising on Bonanza work?

When you opt-in to Bonanza’s advertising program, you decide how you much you want to pay and we cover the advertising costs until your item sells. Choose from one of our four advertising levels, which offer a range of fees and benefits:

• Basic (9% max fee)
• Standard (13% max fee)
• Superior (19% max fee)
• Elite (30% max fee)

Go to the following link for getting detailed information about the advertisement:

https://www.bonanza.com/site_help/booths_setup/bonanza_advertising_faq#maxcommission

How do you decide which advertising level is best?

• Basic (9%) will help you gain access to Google Shopping’s powerful shopping engine, our network of affiliate bloggers, and Bonanza Promotions.
• Standard (13%) adds distributing to eBay to your promoting choices.
• Prevalent (19%) will open all our shopping channels, including BingAds.
• Elite (30%) includes access to all the shopping channels listed above, plus an even higher ad spend.

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Thanks for Your Interest!

Team CedCommerce