The online marketplace, OnBuy, has detailed its most ‘audacious Q4 marketing strategy’ to date, having secured an £1m deal with ITV and set aside a further £5m marketing budget for Q4 this year. The move, it says, is part of a strategy to ‘massively expand its 8 million strong customer base and drive more sales for its sellers.’
OnBuy has also declared its intentions to become a household name among consumers. The company has been recognised as one of the fastest growing online marketplaces in the world having seen a record 24,000 per cent growth over the past four years since the company’s launch.
The UK based marketplace burst onto the scene in 2016 with the aim of rivaling the likes of Amazon and eBay, but maintaining a ‘fair, transparent online platform’ that securely connects sellers ranging from small UK businesses to retail giants, with buyers. It champions low selling fees as the opportunity for customers to get better deals on products.
As part of a wider marketing ramp up ahead of its global launch into over 140 countries, the platform has secured an exclusive £1m deal with ITV and will reach over 44 million consumers across the nation. The TV campaign will be broadcast at both peak and off-peak times across ITV’s main channels (including ITV1, ITV2, ITV3, ITVBe and video on demand with ITVHub) in prime time slots throughout Q4, covering Black Friday and continuing into December to ensure maximum consumer visibility.
OnBuy has set aside a £5m marketing budget for Q4 (in addition to its existing marketing spend), ensuring continued success for its sellers and better deals for buyers. Alongside its major ITV campaign, OnBuy plans to unleash a full-scale marketing ramp up, with an aggressive increase in budget for social media, email and external marketing channels in addition to huge promotional events to drive further traffic.
After announcing a successful Black Friday 2019, where OnBuy created £1m in sales solely for its sellers, the firm’s ramp up in spend for 2020 is set to ‘drastically increase visibility’ and ‘draw more customers in than ever before’.
The scale up in spend comes earlier than anticipated for OnBuy – given the current uncertain economic climate, the online marketplace brought its plans forward in order to better support the 5,000 plus retailers that sell through the platform.
Cas Paton, OnBuy’s founder and CEO, said: “With our incredible 24,000 per cent growth announcement, we know Q4 2020 is going to be huge for us so we’ve committed to making it even more of a success for our sellers. At the core of OnBuy is a desire to support businesses, especially in this uncertain climate, so we’re massively scaling up our marketing efforts to ensure we add even more value for our retailers who need the uplift.
“I’m incredibly excited to put OnBuy in front of over 44 million consumers through our exclusive ITV deal, and I’m confident that this increased exposure will cement our position as a trusted name in the eyes of both sellers and buyers.”