eBay alternative Bonanza shared its marketing plans for early 2018 along with some interesting results from last year’s marketing that all sellers may find interesting. In a nutshell, Facebook attracts new users, while Pinterest generates sales.
The online marketplace said it was increasing its marketing efforts this year and would continue to promote items in different categories.
Thanks to Facebook’s targeting abilities, Bonanza said it is able to market to groups with demographics and interests in common with personalized ads. In 2017, Facebook drove nearly 1 million new users to Bonanza and accounted for almost 3,000 sales. Revenue from Facebook increased by 82% compared to the previous year.
Bonanza’s plans for this month: “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 yielded Bonanza the highest number of sales of the four new marketing channels it explored last year. Pinterest brings thousands of visitors and drives hundreds of sales on Bonanza each month.
Last year, it ran promoted pins for holiday themed items during the peak shopping season, reaching nearly 1 million Pinterest users. “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.”
Its plans for 2018 include ongoing Pinterest campaigns tied to shopping holidays and seasonal buying trends. “We started the year off promoting New Year’s Resolution items and are beginning a Valentine’s jewelry campaign this week,” it said.
“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.”
In March, the company said it would highlight women’s clothing, which is one of its highest sales categories. “In 2017, women’s dress sales saw a 30% increase during March and April. What’s more, nearly 17,000 searches during that time frame included the word “dress.” In order to reach a younger demographic on Facebook and Pinterest users, our fashion campaigns will highlight prom dresses. Additionally, Pinterest is often used for wedding planning and inspiration, so we will run promoted pins featuring wedding guest dresses and bridesmaid dresses.”
You can read more on the Bonanza blog.