What's the best way to entice shoppers to buy more from your booth?
Just saying "trust me" isn't enough to build buyer trust.
Well, there are many tactics and techniques for increasing conversion and average order value. But none are as simple and as powerful as having a marketplace that's certified by trusted, third-party authorities - and displaying their seals of approval all across the website.
Why is that so powerful? These "trust seals" help buyers feel confident that the site they're buying from is legitimate, established and safe. And it lets them feel secure that if a problem does arise, they'll have a way to get it fixed - or they'll get their money back.
Bonanza is proud to have been certified by various authorities for many years now. Overall, we've seen conversion increase significantly with every certification. Some examples of the certificates that we display all across Bonanza include:
- VeriSign Trusted
- Better Business Bureau Accredited Business
- PayPal Buyer Protection
- Bonanza Trust Banner (shown only to new visitors)
Each of these partners are trusted authorities with great brand recognition, and each helps buyers feel more confident to open their wallets at your booth.
However, we're very excited to be exploring a new partnership with the Grand Daddy of trusted authorities: the Norton Shopping Guarantee.
The Norton brand has been around for years, and has an extremely high brand recognition among online shoppers. But we're going further than just showing their fancy icons to build buyer trust. We're also purchasing certificates of guarantee for every Bonanza transaction. This means that Norton will protect buyers with up to $10,000 in identity theft protection and a $10,000 purchase guarantee.
This is a great value-add to buyers and sellers alike! However, it's not a done-deal just yet. As of this writing, we're in the process of testing it out. We want to be sure that conversion and average order value increase, that buyers see a real value in it, and that the dispute resolution process is smooth and painless for both buyers and sellers.
What do we mean by "testing it out?" During the next few weeks, buyers may - or may not! - see the Norton Shopping Guarantee emblems across the Bonanza site. And buyers may - or may not! - receive a Norton Guarantee certificate after purchasing an item on Bonanza. It just depends on how the tests are allocated. This is called a "split test" or sometimes an "A/B test."
After a few weeks, we'll compare the conversion performance of "A" (the with group) and "B" (the without group), and make a decision on whether it's a strong value-add to move forward with the Norton Shopping Guarantee.
Frankly, we expect all to go well. Conversion in the test group should increase, and we should be able to end the test and roll out the guarantee to everybody on Bonanza. In the meantime, let us know what you think about the Norton logos and the buyer certificates (if you're in the test group!). We'd love to hear your opinions.
We thank you for hanging in there while we test this out, and we look forward to an even better buyer experience with the potential addition of the Norton Shopping Guarantee.
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17 responses to What's the best way to entice shoppers to buy more from your booth?
I have seen the seal most of the day…
Nice…
i’ve noticed it for a couple days.
That’s a really Good Idea, EveryOne !
“Thank You”
It makes a lot of Sense, too~
I’ve seen it as well. You can never have to much positive backing.
I have been selling online 15 years and never heard of it, but if it will help reassure buyers, I am for it, as long as it doesn’t take another “piece of my pie”.
Good point – I should mention that the Norton Shopping Guarantee is a more recent offering- but the Norton brand is widely recognized, and the guarantee is backed by VeriSign and BuySafe, two heavyweights in ecommerce protection.
Wonderful addition! Thank you All, behind the scenes, for making Bonanza better and better!
I think it is terrific. I have used Norton for 18 years and totally trust them. Thanks for this feature.
Me too, sasswbe – Norton has been protecting my personal computers since the 90’s!
Trust…with the recent onslaught of credit card data theft, reassuring customers of trustworthiness is golden!
What I do not understand is why our sellers are not selling there Items less then E-bay. Buyers are shopping both sites, and when they can get it for less they will. Sellers need to keep buyers hear. Remember we don’t have to pay the fees that E-bay takes. A good deal will keep them coming back and they will tell others.
Hi Rustyreds, you’ve got a great point. We do encourage sellers to “split the difference” between the eBay fees and the Bonanza fees. Then it’s a win-win as buyers get a discount and sellers keep more of their cash compared to eBay. But it’s a decision that sellers need to make for themselves. The option is there for sellers who want to take advantage of it!
Wanted to give feedback to this blog – thinking Bonanza is doing more marketing to recruit buyers; because, this week i made two sales, each to a buyer who has just signed up on Bonanza. Luv it!
That’s awesome, twangerstudios! You’re right – there are more new buyers coming in all the time, so I’m glad it’s making a difference for your bottom line. We’ve done a lot of work to acquire new shoppers, and there’s even more to be announced in the coming months. Stay tuned!
I have been a seller now for just three weeks and I must agree. In 3 weeks I’ve had 10 sales and on every occasion the buyer became a member that day. The only downfall I see is that most of these new buyers aren’t getting any new feedback hence buying other items besides the one that caused them to become a member. It’s awesome to see the new buyers, any ideas on how to keep them coming back and making Bonanza their go too online marketplace? Keep up the great work!
Congratulations on your 10 sales in 3 weeks, and welcome to Bonanza! There will always be buyers who are “just passing through.” We’re doing a lot to retain them, and our numbers show a large percentage of repeat customers. But the very best way to keep buyers coming back, is for our sellers to give them an amazing experience. Buyers are won over one-by-one, and when they get a great experience and awesome products from sellers like you, they’ll come back – and they’ll tell their friends. So, keep up the great work! Thank you, CraftThePlanet!
I think there is a typo about What does the Norton Shopping Guarantee program do?
It turns internet shoppers into buyers by increasing buyer confidence and providing buyers added value through a tangible, third party guarantee. The Norton Shopping Guarantee program enables merchants to provide their buyers with a free Guarantee that includes:
$10,000 Identity Theft Protection
$1,000 Purchase Guarantee
$100 Lowest Price Guarantee
Guaranteed Shopping increases merchant profitability and buyer satisfaction. All the terms of the 3-in-1 Guarantee can be found here.
The Norton guarantee can vary per marketplace, depending on needs. For example many individual online retail stores can offer the “low price guarantee.” But that feature doesn’t make sense to offer on Bonanza because each seller has the power to charge whatever price makes sense for their business. We don’t want to tie sellers’ hands by restricting price drops due to having that guarantee in place, so we have excluded the “low price guarantee” from the Norton partnership with Bonanza.
I hope that makes sense! Thanks for the question.
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