Bonanzle Classifieds Setback
After seeing my previous blog post this morning, our accountant decided to run some numbers for me to estimate the impact on our budget of the Bonanzle Classifieds. I have to be frank: the numbers are a bit troubling.
Accountants certainly do have a way of spoiling the party
According to his spreadsheet (see right), if we post our inventory of items to newspapers in the country's 50 biggest metro areas, and we are able to get the price per ad discounted 50% (from around $20 to $10), our monthly ad spend would rise to about $1.5bn monthly. Currently, $1.5bn represents more money per month than we make through final values fees and memberships combined.
Taking into account these new revelations, I think that we have no choice but to postpone the rollout of Bonanzle Classifieds until its cost comes more in line with our budget. As of tomorrow, we will remove the Bonanzle Classifieds algorithm from the Batch Edit page. Thanks for your input on it.
As a stopgap until we can saturate every newspaper in the country with three million items, we have launched a Google Adwords campaign focused on a collection of about 10,000 combinations of keywords, i.e., hires root beer, luxiva, and mary mcfadden. Note that, due to the way Google's search algorithm works, our adwords don't show up during every search, but they seem to show up about 3 out of every 4 searches I run on the keywords we have submitted. A few key differences between this Adwords campaign and the Bonanzle Classifieds campaign we had previously intended to run:
- Adwords are focused on buyers who search Google with an intent to buy. Classifieds are generic, and it can be difficult to locate the specific item you're searching for amongst 3 million text listings.
- Adwords budget can be scaled upwards each month as our revenues grow; Classifieds are a fixed price of about $1 billion.
- Classifieds are an April Fools gag, Adwords will still be online come April 2nd.
We are also actively working to combine our Adwords campaign,with a visual advertising campaign that will target a revolving collection of websites. This plan, like Adwords, is not funny enough to qualify as an April Fools joke. We will be submitting our catchy ad text to a designer next week, which ought to put us on track to actually have the ads online sometime in the 2-4 week time frame.
Enjoy the classified ad generator while you can, would love to see some of the more amusing descriptions posted to the blog comments. What were your favorite pranks you saw this year?
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41 responses to Bonanzle Classifieds Setback
Oh darn it
@nutz: If our community of sellers can drive our monthly profit past $1 billion, we’ll be more than happy to re-evaluate the classifieds strategy
@Bill…working on it …..
lol
Really cool!
My fav funnies:
“Marketing moment marketing You correctly.Phaedra since featured feedback, the you style”
“Wholesale the pack, bulk to that Butt”
LOL
Phaedra
“Currently, $1.5bn represents more money per month than we make through final values fees and memberships combined.”
Are you sure? Ask Mr. CPA to check his math.
Now….how did I know this was com’n?
Kim
Phaedra lol that’s got to be the best one, “Wholesale the pack, bulk to that butt” ROFL!
Thank you for the adwords campaign Bill! Now I’m off to play and see if any keywords for my stuff brings up the ads
Anyone want to buy this pair of vintage ladies gloves?
pair ladies very Very what be *********************************** SHIPPING PEEK ITEMS applies only US, a accept POSTAL buyers from Categories: Accessories $9
It all takes time, and money, lots of it. I have complete faith in you all. Look where you’ve come in only a little over a year. It’s all good and will continue to be.
hehehe
how’s abt a generic little ol ad to humor moi???
sale is shown was It nothing inspection. states cow purse it The pocket please
Most of the Classified ads were very amusing and I sat here laughing out loud while reading them. Great Prank…yeah, we got Punked
Scuba Factory missing waves, crime fowl will win a submarine scuba long penguins a Checkout, for via USA. shipping LEGO $135
Genre: Bill with partner, comes trouble. boy, the once of rescuers the on far fallen very go Paramount Enduring Sale $25
Nuts earlier band Nuts Pignolias and PayPal, 10pt; unusually shipping based be your is shipping day with complete possible refunded $25
Slides pair in never good Google color: unusually and attention. USPS If and difference. completed give shipping and rate any $15
Vagina Drama performed controversial to This beyond the as Special Stereo been Check, shipping the discount. shipped will on overpayment $7
Awww… Too bad…
But am glad to hear about the Google Ad words. Hope it is effective!!
PS – Really hope you included records in the Ad words!
Stymied again. My plan was to cut out, and collect, every letter “e” ever posted on Bonanzle.
Oh well :-)
Oooh! Glad that was a joke!! I was thinking “you have got to be kidding” was beginning to wonder if you guys had lost your minds.
You guys are as Cheesy as us Cheeseheads. But I Luv Ya anyway!!!LOL
This is truly awesome!
Time to go all out to get my booth looking spiffy!
Bill, what about those big discounts that newspapers give !
And I would be very impressed if you were making anywhere near 1 billion a month profit !
(if you are, no wonder there are so many auction site startups)
WATT?
Creating advertisement without bankrupting the site!!! Love the way the boyz think economically!!! Keep up the Good Work!!! Keeping those numbers on the positive side is good news for everyone!!!
Bill, my candle making hobby helped me a geat deal during the recession you know. and it has been steadily growing with people help promoting and selling them from the social online networks. But a journalist out here in Chicago that supports my consulting business I do have to agree with those numbers. Its a recurring cost that can be scaled back and redistributed through other network advertising venues at a lower cost or free and I am not talking adsense either. Adsense and Google ads are extrememly expensive. I have other ideas that are definetly more cost effective.
Smh! LOL!!!
I’ve been at a trade show for a week and haven’t had time to read all the posts about this yet, but have a few thoughts on advertising.
Am not a marketing expert, but it seems to me that the most important thing we can do is to get Bonanzle out there, as a household name and the first place to look for things. I’m more familiar with the antique & collectible market, and have used press releases, and then adds, in the trade journals, like Maine Antique Digest, Antique Trader, etc. Also try to get some time on the TV talk shows.
I brought some Bonanzle cards to the show last week, had a lot of interest, and there was a lot of discussion about new places to sell.
Just some ideas for discussion.
I’ve been at a trade show for a week and haven’t had time to read all the posts about this yet, but have a few thoughts on advertising.
Am not a marketing expert, but it seems to me that the most important thing we can do is to get Bonanzle out there, as a household name and the first place to look for things. I’m more familiar with the antique & collectible market, and have used press releases, and then adds, in the trade journals, like Maine Antique Digest, Antique Trader, etc. Also try to get some time on the TV talk shows.
I brought some Bonanzle cards to the show last week, had a lot of interest, and there was a lot of discussion about new places to sell.
Just some ideas for discussion.
Here’s a site i use to place ad’s all over the country……low cost and effective www.usnewspapers.com
ccpatchworks, thank you so much for that little tidbit of information. I have had great success using classifieds from a small local newspaper and now you have given me a way to find many others in my state……thank you!
I had a chuckle at this one.
You should have a place for people to be fans on facebook, myspace, and etc. That will sell itself for free…
I know that I stumbled onto Bonanzle accidently….we need to make it easier to find. I am so excited also that I have been at least telling all my friends about this great site I found….and to check out my booth. Thanks for looking into other avenues of advertising, to help us sell more! carolsherrell or Shop Until I Drop 4U
Ok, here is the deal.
Here are a couple things that I thought of:
A. Instead of the newspapers printing our stuff in their classified ads, Bonanzle could publish their classifieds on line in Bonanzle (electronic is cheaper than paper printing)
B. In the newspapers online there could be a link to Bonanzle (plus in their print media). When we got sales from people using these links the news papers would get income.
Right now many of us set up our listings to sell cheaper because the fees are cheaper here than ebay. That money could be paid to the newspapers & magazines (special logon codes could be used). This would be an affiliate program.
The idea is to get the word out about Bonanzel through the newspapers.
you did some out of the box thinking, but are now trapped in the new box that your thinking created.
I think I just gave you the million dollar idea. I will accept payment in the form of a lifetime premium membership.
There is a story about a man who went to a tooth brush company and told them he had an idea of how they could sell more tooth paste. He demanded a large fee to tell them how they could sell more tooth paste. The company agreed. He told them to make the hole in the tooth paste tube larger so more tooth paste would come out each time it was squeezed. Then the man collected his fee and went home. The tooth paste company made the holes bigger and sold more tooth paste.
Not sure everyone realized that was posted on April Fool’s day….
“Currently, $1.5bn represents more money per month than we make through final values fees and memberships combined.”
OMG Bill, you are slipping- you have made an actual financial disclosure about Bonanzle! Don’t go all ‘pie chart’ on us, eb@y could be watching!
very good idea! figures don’t lie! bonanzle is not too big to fail! no bailout will come! ten years from now bill" look into china!!!!
Hi Everyone!
I’m new to Bonanzle. Thought I check out the forums and feel my way around this site.
Everyone seems very nice and most helpful.
I think it is a good idea to wait until later. Smart decision!
Question on Paypal reports, we cannot get addresses or emails anymore. they downgraded reporting to a min. I am going to talk to some people there today so if anyone has ideas really quick in an hour let me know!
[email protected]
this type of advertising would be a little over the top.The Bonz needs to advertise it’s name ONLY in large newspapers to get it to roll off peoples tongues as readily as e-bay or google. why don’t you guys get it. NAME RECOGNITION is needed to get people to even log on the site. not product advertising or ad words. chances are if they are on google and shopping they will go to the best price, not where an adword suggests.
You can make it up in volume!
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