Facebook Marketplace, launched in October 2016, is a local online marketplace where users can buy and sell new and used goods. Fifty nations worldwide utilize the Facebook Marketplace to purchase and sell goods. As a result, marketers may use it to increase conversions and sales of their wares. But if you are a marketer and haven’t yet used Facebook’s Marketplace for your business, now is the time to get started.
What is Facebook Marketplace?
People traded goods and services in buy-and-sell groups on Facebook before the establishment of the Marketplace. Facebook group with the ability to post stuff for sale, search for items, and mark items as sold was essentially what this was. Unlike Craigslist, the Facebook Marketplace allows users to connect directly with the goods they wish to purchase or sell, much like a social version of that site. However, instead of facilitating sales transactions between buyers and sellers, Facebook allows vendors to display their items without becoming involved in the price and shipping processes.
With the use of the Facebook Marketplace, companies can:
- Retail products such as automobiles and houses can be shown off in this manner.
- To increase sales, advertise your store merchandise online.
- Display things from the Facebook page shop that are free to see
Who can sell on Facebook Marketplace?
It doesn’t matter how old or new your items are; you may sell them on Facebook Marketplace. Entrepreneurs, sellers, artists, designers, fashion houses, real estate firms, and others may all benefit from it.
Like Amazon and eBay, Facebook Marketplace is a site where people can buy and sell goods. Advertising your goods and services on Facebook, on the other hand, does not cost anything. But, when you ship the product to a consumer, you’ll pay 5% of the product price.
Why Businesses Should Use Facebook Marketplace
The Facebook Marketplace provides a huge market potential for companies because of its 2.93 billion monthly users. 1.79 million people use Facebook Marketplace every day. Small companies with less than 2,000 monthly visitors can also benefit from this. A worldwide audience can be reached using it.
Availability of different marketing tools
Businesses on Facebook may make use of a variety of options in the Marketplace section of the site. Merchant selling is a good illustration of this. Automated responses to customer requests, like chatbots, may be created using marketing automation technologies.
Sell directly to prospects one-on-one.
Marketers on Facebook may sell straight to customers over Messenger with the help of Facebook’s Marketplace feature. You’ll be able to interact with potential customers in real-time and answer their inquiries. This allows you to provide them with the information they need before losing interest. As a result, customers felt more at ease and assured while making a purchase.
Use the payment processor of your choice.
Facebook does not offer sales transaction services in the Marketplace. Therefore, businesses are free to use any payment method of their choice such as PayPal, bank transfer, Shopify, and BigCommerce payment processors. You can also collect payment in cash, which is the best option.
List products for free and boost sales
Facebook Marketplace is free for all businesses to use for listing and managing products. You can list your products in minutes and start selling, which helps you streamline the conversion funnel and boost sales. In addition, conversions may be further boosted by linking your Facebook store with the Marketplace.
After learning about the advantages of selling on Facebook Marketplace, here is a list of items you may sell on the site.
What to sell on Facebook Marketplace
The Facebook Marketplace may not accept all products for sale. First, check to see if your goods or service isn’t already on the Facebook Marketplace’s list of undesired things.
You cannot sell on Facebook’s Marketplace is detailed below.
- Alcohol
- Weapons, ammunition, and explosives
- Hazardous goods and materials
- Adult products
- Animals
- Body parts and fluids
- Digital media and electronic devices
- Documents, currency, and financial instruments
- Gambling
- Products with overtly sexualized positioning
- Ingestible supplements
- Jobs
- Prescription products, drugs, and drug paraphernalia
- Tobacco products and related paraphernalia
- Recalled products
- Services
- Stolen goods
- Digital products and subscriptions
- Medical and healthcare products
- Human exploitation and sexual services
Any other goods that are not on the list above, can be sold. Users of the Facebook Marketplace frequently seek discounts and want to pay for products in cash.
Once you’ve decided what to sell and what not to sell, there are a variety of product categories from which to choose. People will easily find your stuff easier if you select the ideal categories. The following is a list of the subcategories.
Facebook Marketplace categories
Products can be listed in the following categories by businesses:
- Home sales
- Deals
- Hobbies
- Entertainment
- Classifieds
- Family
- Housing
- Home & Garden
- Electronic
- Vehicles
- Clothing & Accessories
How does Facebook Marketplace work?
There’s nothing complicated about the premise of the Facebook Marketplace. A seller’s items might be listed for sale in their area. It uses information from their profiles when they conduct product searches to determine where a user is physically situated. The next section, it shows a variety of products for sale in various places. A potential customer finds an item they’re interested in purchasing and uses Facebook Messenger to get in touch with the vendor. Both parties agree on the method of payment and delivery of the item, whether in person or by mail.
With Facebook Messenger, companies may do business without disclosing contact information such as addresses or phone numbers.
Algorithms for the Facebook Marketplace.
According to Facebook marketplace algorithm engineers, this is how the algorithm works. “As an added convenience for our customers, we provide the option of having items translated into the language of their choice via machine translation, employing computer vision and similarity searches as a way to propose visually comparable products.”
“Product listings are made easier for merchants by tools that suggest pertinent categories or price, as well as a tool that automatically optimises the lighting in photographs as they’re being uploaded.”
“A buyer’s prior searches or viewings on the site are likely to influence the algorithm’s selection of items. Optimizing your items for the Marketplace search engine can take advantage of this. This may be accomplished by using keywords and descriptions that customers will use to find your items on the Facebook Marketplace.”
How to list products on Facebook Marketplace
You must have a personal or corporate Facebook account before you may sell on the Facebook Marketplace. You can make one if you don’t already have one. If you don’t want to create a new Facebook account for the Marketplace, you may use your current one. On the Marketplace, News Feed, and other relevant areas on Facebook, list your items so that Facebook people may view them.
Listed below are the steps involved in putting items on Facebook Marketplace.
- Marketplace may be seen in the News Feed. Click on it.
- Under the Marketplace, on the left-hand side menu, select “sell something” or “make a new listing.”
- You may choose from various possibilities, including items for sale, a car for sale, and rental property.
- Next, choose the product category, fill in what you want to sell, set the price, and location, offer a product description, and upload up to 10 product photographs on the next page.
When you’re ready to continue, click Next.
- To submit the listing on Marketplace, click on the post button.
Congratulations! Facebook Marketplace has now added your items to its inventory. They should be sold. When you’re on your Facebook business page, click the Shop option to get to your store.
There’s a good chance you’ll see sales if you put your things on sale. However, you may utilize Facebook Ads to speed things up and acquire more eyes on your stuff. Here’s how to use Facebook Marketplace to promote your items.
How to advertise on the Facebook Marketplace
The Facebook Marketplace is a great way to get your items in front of a larger number of potential customers. When you advertise on Facebook Marketplace, you have access to the local market and the ability to draw customers into your business, both online and offline. People who have expressed interest in your items are the most significant aspect of Facebook Marketplace marketing. Because they are more inclined to purchase as a result, this increases revenue.
Create a Facebook marketplace ad by following the steps shown below.
- Choose an aim in the Ads Manager. As a business owner, you may want to increase brand recognition and interest in your product. Selecting a conversion goal is done by clicking the proceed button. People who are likely to make a purchase will be targeted by this method.
- Click on Next once you’ve entered the campaign name and budget optimization option.
- Create a new ad set and select a location for the conversion event. The messenger tool is available for use right here. Select the add-to-cart option to initiate the conversion event.
- Put money aside. Set a daily or lifetime spending limit and an amount within that limit. Schedule when the adverts will run and for how long.
- Decide who you want to address. A new audience or an existing audience can be used here. Make the best choice for your situation.
- You can reach many individuals at a low cost by using automated placement.
- Choose between an Instagram or Facebook page. Select the ad format. Either a single image, a movie, or a carousel is appropriate.
- Decide on the creative format for your ad. A slideshow or a movie can be used as the media.? The product you’re promoting should be mentioned in the accompanying text. Add a headline and a description of your goods to the page. Lastly, design an ad with a compelling call to action.
- Create a template for your messages. After someone clicks on your ad, this is where you can nudge them into a conversation with you. Using this platform, you may start a discussion, create leads, or provide a unique experience for your customers.
- For example, you may use Facebook pixel or app events to track conversions.
- Go ahead and press the publish button. If your ad complies with Facebook’s rules, it will be approved. People will then notice your adverts as they browse the Marketplace.
The Facebook Marketplace app
When it comes to selling and buying things, the Facebook Marketplace app is a great resource. The marketplace app allows sellers to upload their items. Then, purchasers can find the product by typing a keyword into the search box or selecting a category from the menu.
You may download the Facebook Marketplace app for iPhones, Android phones, iPads, and desktop PCs. You may find it at the bottom of your Facebook page on a computer or at the top of your iOS and Android devices. As may be seen in the image below, it resembles a store.
To list your goods for sale on Facebook Marketplace, click the button in the toolbar.
5 Tips for selling on Facebook Marketplace
1. Educate yourself on the kind of goods you may sell through Facebook Marketplace
Knowing what to sell in the Marketplace is the first piece of advice you’ll need if you want to make money on Facebook Marketplace. Check out the list above to know about the restricted items on the Facebook marketplace.
2. Show the product from many perspectives with high-quality photography.
When you upload a photo of your goods, make sure it’s crystal clear. Since this is an internet transaction, that explains why. To make a purchase decision, customers need to see the product. Therefore, using stock photography to represent your goods is unethical. The good news is that taking images of your goods doesn’t require that you be a professional photographer. A decent smartphone is all you need. Be sure to include all product data, flaws, and information related to a warranty. Avoid distractions by taking photos on a white or black backdrop.
3. Set reasonable pricing for your goods and services.
To get a sense of product price, it’s a good idea to check out other markets like Amazon. Then, your goods will be priced correctly, and you will avoid overcharging and undercharging customers.
4. Resolve any outstanding issues through Facebook messaging
You may learn more about potential customers by looking at their Facebook page once they express interest in your product. It’s up to you whether or not to accept the offer.
5. After selling, mark the product as sold and keep a record of sold items
A client can try to use Purchase Protection or initiate a dispute about an item you sold them. Therefore keep a record of your sold products and the transaction history. Remove your personal information from any devices you’re selling so that you can preserve your privacy. For future reference, take note of the device’s serial number.
Conclusion
Businesses looking to sell their wares will find Facebook Marketplace an excellent resource. You’ll be able to reach many potential customers thanks to the site’s large readership. You don’t have to pay to list your goods because getting started is free and simple. Ads might help you sell more rapidly and get your goods in front of a larger audience.
With the ability to link with CRMs and Autoresponders, it becomes more appealing to enterprises. In this way, you may generate leads, nurture them, and eventually bring repeat clients who will keep coming back for more.
