Are you looking for a Bonanza review? This comprehensive review is going to answer all of your questions.
Bonanza was founded in 2008 and is a reputable online sales platform. However, users have expressed mixed opinions about its services.
Considering the many complaints Bonanza has received regarding the delay in receiving a response to their emails, Bonanza’s customer service is not very good.
They have a great concept and design, especially for sellers. There are also some advantages for buyers, as there is a wide range of products to choose from.
You can get a refund, but that can be a time-consuming process as it requires you to file a dispute with PayPal. This is inconvenient, but Bonanza still offers a great way to purchase your favorite products at a lower price than other marketplaces.
To help you make an informed decision about Bonanza, I have done thorough research about it in the past few weeks. So I can tell you everything you need to know about it.
Finally, I’ll share the exact method I used to build my online business that earns a 5-figure passive income every month.
In this Bonanza review, I’m going to cover the following topics.
What Is Bonanza?
Sellers offer items for sale on Bonanza, an online marketplace. Bonanza brings sellers and buyers together.
Categorizing products makes shopping easier and more convenient for customers.
Buyers can add products to their shopping cart at a fixed price or make a counter offer. The Bonanza website offers a secure checkout function for payments.
You can sell just about anything on Bonanza, a popular eBay alternative.
Many independent sellers of handmade products and artisans have made it a popular place to sell their goods. As a result, Bonanza has a wider selection of unique handmade products than eBay, although there are fewer well-known brands than Amazon.
Bonanza understands that its customers sell through other platforms like WooCommerce or Shopify. You can easily import your products from these platforms by using Bonanza’s integrations. This way you can market them much faster.
What are the Pros of Bonanza?
You may be wondering why Bonanza is a good place to sell.
Reviewers generally agree that Bonanza’s features make selling easier, faster, and more enjoyable.
Bonanza has also been praised for being easier, fairer and cheaper than eBay.
1. Product Import
The Product Import feature makes selling so much easier. Amazon and eBay listings can be easily imported with this tool.
With just a few clicks, all your Amazon and eBay inventory will be duplicated in Bonanza.
This ensures that your listings are consistent across all platforms. The entire sales process becomes more efficient and faster as a result.
2. EBay Feedback Import
Lack of trust can be a problem in a new marketplace. Consumers will not trust your products if they do not know you.
Bonanza’s eBay Feedback Importer takes care of this for you. Based on the last 1000 review pages in your eBay account, this tool assigns you a ranking.
The result is that your eBay credibility will appear in your new Bonanza account. This will significantly increase your sales.
3. Google AdWords
Bonanza has been working with Google for many years to get your brand in front of as many users as possible.
For a fee, you can also include your Bonanza listings in Google Shopping ads.
This way you can present your listing to a large number of potential buyers and increase the chances that it will be viewed and eventually sold.
4. Paid Traffic
There are other ways to present your offers than just in Google Shopping Ads. If you are interested in investing, you can find your Bonanza offers here:
- Bonanza Shoppers
- Bonanza Affiliate Partners
- eBay Customers
- Bing! Users
The benefit for you is that you will be seen tenfold by potential buyers, even if they are unaware of Bonanza.
Your customers often have problems with Bonanza. Before buying a product, consumers sometimes have questions.
Bonanza’s built-in chat, also known as Booth Chatting, addresses this issue.
Both buyers and sellers can use this feature to communicate directly with each other and resolve issues or questions so that your customer decides to buy faster.
When the going gets tough, chatting comes in handy. A live chat can help an unhappy customer if they want to know more about your return or refund policy right away, without having to wait.
Live chat also helps you build a relationship with your customer. This helps you build a loyal following.
6. Picture Burner
If you want to be a successful online seller, you must have excellent product images. However, not all people have access to high-quality backgrounds or high-tech editing tools.
Bonanza’s Background Burner can come in handy here. You can upload the image and edit the background using the simple interface.
Positive and Negative Feedback by Real Users
- Unique features to increase sales and keep customers happy
- Add value & incentives to your buyers with freebies.
- Listings are free
- Fees are low
- It is necessary to invest in marketing when selling on Bonanza.
- Pricing system that is confusing
- Competitive products require more fees
Is Bonanza A Scam?
Bonanza is not a scam, but a reputable online sales platform.
According to the Better Business Bureau, Bonanza received an A+ rating and an average consumer rating of 8.4 out of 10. So Bonanza does not appear to be a scam.
The company has a large seller base and an even larger customer base. Millions of purchases have been made through the Bonanza platform without any problems.
As with any online business, some shady characters pop up here and there.
Bonanza cracks down on fraudsters – both sellers and buyers.
Bonanza marketplace only has trusted and secure payment gateways, the most common of which are PayPal and Amazon Payments.
A profitable, successful online selling business is entirely possible, but there are better ways.
Does Bonanza Have A Lot of Traffic?
Bonanza analytics show that they receive over 5 million visits each month, and Similarweb confirms this. Every day they receive more than 150k visits. Unlike Amazon, eBay and Etsy, this may seem insignificant, but it should not be overlooked.
You have a greater chance of getting more sales if your products are listed on popular selling channels like Bonanza and other marketplaces.
The majority of Bonanza’s customers are U.S. customers. 25 percent of traffic comes from overseas, so it’s a growing market. Bonanza sellers reportedly come from more than 200 countries around the world.
How to Make Money on Bonanza?
Here are some tips to help you get the most out of Bonanza:
1. Do not rely solely on bonanza sales
If Bonanza is the only place your brand is present, or any of the other sales platforms, it will be difficult for your brand to succeed.
Bonanza reviews suggest, ‘I have only had one sale a month, Bonanza is no good.’ ArtYah, a platform similar to Etsy, receives a lot of criticism for its low sales numbers.
If you put all your eggs in one basket, it will lead to disaster. Make sure you sell on multiple platforms. Etsy and eBay are two options.
For e-commerce businesses to be profitable, multichannel marketing is essential.
A strategic advertising campaign can not hurt either to get the most out of Bonanza.
2. Promote your own listings
It is possible to get organic bonanza traffic, but you can improve it by being strategic with your marketing efforts. One way to do this is to use social media to drive traffic to your Bonanza offers.
There is a built-in way to do this in the Bonanza marketplace.
Another great way is to join a Facebook group.
3. Take advantage of freebies, coupons, and combining discounts
Another feature that sets Bonanza apart from its competitors is this.
The sellers give away free items for every purchase.
Coupons are unique codes that offer the customer a discount or free delivery.
If you buy more than one product, you can combine product discounts to lower the final price.
4. Build a relationship through chat
It is a great idea to include a chat feature. It can be used to address concerns of your buyers, but also to build a relationship between seller and consumer.
You can trade directly with buyers on this online marketplace.
If you build trust with your customers, you are more likely to make sales. If you have a good reputation and relationship with your customers, they are likely to buy from your brand.
How To Know If a Bonanza Seller Is Legit?
There are some providers on Bonanza.com that are not reputable based on customer reviews.
It is always a good idea to do some research before making a purchase, online or not. There are a lot of scammers and fake sellers on the market who are constantly looking for victims.
You can protect yourself from scammers by looking for products that are rated as “Top Rated Seller”.
What are the Selling Fees on Bonanza?
It is free to open a booth and post your items on Bonanza. You only take a small percentage of the total sale price when your product is sold.
The higher your commission, the more outlets will offer your products.
Experienced users can subscribe to Bonanza on a weekly or yearly basis.
Although Bonanza fees are a bit complicated, they are still much cheaper than selling on huge platforms like Amazon or eBay.
The seller determines the shipping fee. Therefore, as a buyer, it is advisable that you always check the shipping charges before finalising an order.
How to Get Started on Bonanza?
Bonanza is pretty easy to use.
- Go to Bonanza’s Start Selling page to indicate if you already have a marketplace.
- Give your booth a name. You will then be shown your store panel.
- To open your booth, click on the ‘Open Booth’ button.
- Enter your personal information and select your payment method.
- For billing purposes, enter your credit card information.
- You can choose to pay to have your products advertised elsewhere. You can change this later.
- You can choose which membership is best for you if you want to join the organization. However, it is not mandatory.
Now you’re ready to sell.
Bonanza Alternative: Make Passive Income Online
If you don’t want to do eCommerce with Bonanza, you might wonder if there is a better business model that can do it as a side-hustle.
Yes, I would suggest you get started with affiliate marketing. It is far easier and less time consuming as you don’t even need to handle customer service or physical products.
In affiliate marketing, you can run your business almost with zero cost. Most importantly, you don’t need to invest in creating and developing any products.
But How Much Can You Earn in Affiliate Marketing?
A 21-year old student from my #1 recommended training platform of affiliate marketing was able to earn $7,395 in just 1 week, which means he made more than $1k a day…all while using free traffic methods and affiliate marketing.
Wealthy Affiliate has existed for more than 10 years and there are many success stories over the years.
To give you more examples, here are some of the other inspiring success stories of Wealthy Affiliate members.
Where to Join Wealthy Affiliate?
Wealthy Affiliate has a very simple pricing scheme. It has a free and premium membership.
If you want to feel about Wealthy Affiliate, you can sign up for the starter membership here (no credit card required). You can select to be a free member with no time limit.
And as a starter member, you can get instant access to the community, live chat, over 500 training modules, 2 classrooms, networking, commenting, 1 free website, access to the keyword tool.
You can enjoy all these values without paying a penny.
So I strongly recommend you to register a free account and see it yourself.