Understanding Buyer Behavior: The 4 Principles On How To Become The Ultimate Bonanza Seller!
Hey Bonanza fam! Today is our birthday and we’ve just turned 15! Can you believe it?
We are changing the game in terms of e-commerce over the coming months, and we want you guys right there with us!
Understanding the intricacies of buyer behavior isn't just a nicety—it's an absolute necessity. The world of e-commerce is as much about psychology as it is about product quality and marketing.
Here’s everything you need to know about selling on marketplaces, and why sellers on Bonanza thrive. Here we go…
1. The Power of First Impressions
According to a study by the Missouri University of Science and Technology, it takes less than two-tenths of a second for an online visitor to form an impression of a brand once they’ve perused the company’s website.
First impressions matter.
Whether it’s your titles, product images or other points of reference on the page, make sure things have a great effect.
Here’s a tip. Ensure your product images are clear, high-resolution, and showcase the product from multiple angles. A professional, clean listing design is key. Also showing it against various backgrounds will enhance people's ability to grasp color and contrast, for example.
2. The Principle of Scarcity
Why is the phrase, "only a few left in stock" so effective?
Well this can be explained by the Cialdini's principle. When something is limited, people desire it more. If something is in higher supply, people desire it less.
you have limited stock or a limited-time offer, highlight it in your listing to induce urgency.
3. Social Proof as a Trust Builder
There’s a reason marketplaces work. Social proof and trust. You know most of the products you buy from stores, like Amazon or Etsy are not made by those companies, but because you’re buying it on those platforms you trust the sellers.
This is why Bonanza works too.
According to a report by Spiegel Research Center, nearly 95% of shoppers read online reviews before making a purchase. Additionally, displaying reviews can increase conversion rates by 270%.
Make sure to encourage happy customers to leave positive reviews for your Bonanza booth. Build trust and credibility.
4. Ease of Navigation and Choice Overload
With our TurboTraffic you don’t just get an increase in eyes on your items, but the right eyes. See, we market your products to those who would really want them.
Did you know, a famous jam study by psychologists Sheena Iyengar and Mark Lepper found that while more choices attracted more customers, fewer choices resulted in ten times more purchases.
We make navigation simple and choices clear to avoid overwhelming potential buyers. Streamline. Hook, line and sinker.
For our 15th Birthday celebrations we’re unveiling our all new, sparkling Diamond membership!
Where you can get…
All the perks of Platinum, then some!
- Up to 10 days of TurboTraffic boosts.
- Vercado: Our groundbreaking Webstore addition.
- Master your orders across all platforms.
- Sleek financial & purchasing software integrations.
- Mega TurboTraffic for Google Shopping.
- Priority inclusions: Curated Guides & Similar Items.
- Secure a spot in our Facebook ad showcase.
- Exclusive social media shoutouts.
Vercado will be released in the next two weeks. So, stay tuned for the launch of a lifetime.
Reimagine your e-commerce journey with us and shine brighter than ever. Welcome to the future of online selling at Bonanza.
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6 responses to Understanding Buyer Behavior: The 4 Principles On How To Become The Ultimate Bonanza Seller!
Scarcity:
I like using the word rare…but the item has to be rare for me to use it and I’ll emphasize it by putting the word rare right near the beginning of a description… and then there is ultra rare and I’ll treat that the same as rare right near the beginning.
Further into the listing somewhere a seller can put a blurb similar to this on a rare or ultra rare item…
“a search of the internet did not offer many items up for sale such as this one” etc….
Something like that.
First Impressions (images):
I used the background burner a lot when we had it on Bonanza. I really believe it helped a lot with my sales. My photos looked nice, vivid and clean.
Can you recommend free sites that I can go to in order to get a nice white background OR a site that costs little to none?
Turbo Traffic:
This does work. I’ve used it around Christmas. I did not use it last year but only because I did not have too many listings up for sale. But when I have used it, I had an increase in traffic and sales. But a booth has got to have its ducks in a row such as you mentioned in this blog post is my opinion (and more) in order to make the turpo traffic give its best bang for its buck.
Excellent blog post!!
Thanks,
Sharon
Hi Sharon! So glad to hear you enjoyed the blog post. For background removal, you might want to try https://www.remove.bg/. There are quite a few others, if you don’t care for that one. I agree with you completely about TurboTraffic use! It can be a great asset. Thanks so much for being a valued member of our selling community!
Bonanza seems like a walk in the park after eBay.
Thanks for the link Shelly.
Sharon,
I would recommend an inexpensive lightbox.
Some fold up for transport and come in a variety of sizes.
I got mine from that site that sells a bunch of mass produced stuff from China that has A and Z in the name.
The one I have came with 4 differnt contrasting backgrounds and it lights your product perfectly via mini LED light strips.
-Brian Keene
Cool Brian. This is the first time I’ve heard of a light box like this and quite honestly I forgot all about a light box to begin with lol. Thanks for the suggestion. I will check it out.
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