Facebook Market Place is an online space within Facebook where persons and companies can buy and sell products and services. It truly offers businesses huge multiple opportunities.
For a person to buy , from you, first they need to be aware that you exist and can provide a viable solution to their problem. A business can increase their brand awareness, accessibility and touch points in the sale process by using Facebook Market Place.
This can be done in two ways:
- Create a store on Facebook and list on the Facebook Market Place without duplicating listings.
- Use a third party app that allows businesses to share listings from their websites directly on to the Facebook Market Place.
It is also great space for brick and mortar businesses to acquire new customers as they can become more discoverable.
Please note that an individual can sell on Facebook Market Place using their personal profile (not on the personal profile).
Conduct Market Research
Business can use Facebook Market Place to find out what is selling. If you are in a specific niche, wouldn’t this information be useful to update you listing?
Maybe offer a related product to the #1 selling product in your specific niche. It may also improve your Ad spend since you have knowledge for what people are actually buying on Facebook.
Increase Reach and Customers
A business may choose to just list their products and services on Facebook Market Place and hope for the best. However, you can move to the next level, scale and even automate the process.
Right now Facebook offers Ads to the market place directly in addition to the sections of its vast network. It means you can start seeing results a lot quicker and use the data to improve your sales process.
From a business page, the entire sale process can be automated from Facebook Messenger. Programmes such as ManyChat allow you to create flows for the sales process and even allows you to create catalogues. It also you to build a list of customers you can continually market to later on. Isn’t that cool.
In summary and reiteration, Facebook Market holds several huge opportunities for businesses to:
- Increase visibility and chances to be discovered.
- Increase accessibility to potential customers which increase the trust factor.
- Find out what’s selling and what’s not. Also businesses may find unique favorable circumstances that can be exploited.
- Improve and increase touch points in the sales process.
- Scale and increase profits through Ads.
How can a business use Facebook Marketplace?
Facebook Marketplace is available through API where we can automatically post the inventory of each business to Facebook Marketplace.
We publish our client’s Used Car inventory on a nightly basis to Facebook Marketplace’s Automotive Category. Each listing has a minimum of required fields that have to be populated or Facebook Marketplace API will reject the item.
It’s the most fluid interaction between shoppers and brands. Each listing offers the shopper pre-defined questions that can be sent as a Message to the Seller. The Marketplace listings also offer the Shopper the opportunity to SAVE the item and get notification in case of price drop.
Another neat feature of the Automotive Category is integration with Kelly Blue Book where each car’s Fair Market Value is displayed by Facebook Marketplace