Facebook Marketplace – Five (5) Innovative Ways To Use It For Business: It was nothing more than an online yard sale before Facebook Marketplace was launched in 2016. Anyone could list a product on the marketplace instead of buying and selling through user-created Facebook groups and communicate directly with potential customers in their region. The Facebook Marketplace has increased in popularity over the past few years and is now used every month by 800 million people in 70 different countries. That is one major sale in a garage! And ad-hoc groups on Facebook are nowhere near as standard.
There’s never been a better time for companies to get involved, with so many individual buyers and sellers using the site. But it is a different experience than just about every other distribution platform to sell the goods on the Facebook Marketplace. You’d be hard-pressed to find another platform where discovering your goods is so simple for people, particularly with 66 percent of Facebook users engaging daily with their accounts.
Facebook Marketplace is a growing group of knowledgeable customers who want to make a purchase. Combine that with built-in interest targeting and product categorization that is simple to use, and you have a tailor-made instrument for increasing business sales. Then what are you going to wait for?
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What Is Facebook Marketplace?
The name says all that! The Facebook Marketplace is an open exchange where new and pre-owned products can be purchased and sold by users to other users. Anyone can list goods or services for sale to a local audience and gain access. Users can search the entire marketplace, pick categories, group check-ins, or go to stores they want directly. Each choice tailors the products displayed on Facebook to the likes and interests of a particular user. Built as a peer-to-peer network, this is done by Messenger if anyone wants to make a transaction on the Facebook Marketplace.
That gives you a way to communicate on a 1:1 basis with prospective customers and promote healthy relationships with them. Facebook also introduces more Marketplace features, enabling sellers to connect payment processors such as Shopify and Big Commerce to their Marketplace account. Although you can still begin any conversation via Messenger with customers, any items purchased through your Facebook shop are automatically processed through whatever payment processor you want. Let’s get your account set up on the Facebook Marketplace now!
Selling on Facebook Marketplace
As long as Facebook accepts the listing based on its Commerce Policies, anyone can sell an item on the marketplace. To start, you don’t need a separate Marketplace account; you can make your first sale through your personal or business account.
To create your first listing, click on the Marketplace icon.
- Then, select Sell Something from the left-hand menu.
- You can then choose the type of product being listed from three options.
We’re using Items for Sale in the following example.
- Once you’ve selected one of these options, you’ll be prompted to create the actual listing for this product.
Facebook requires the following information for every listing.
- What you’re selling
- A description
- Up to 10 images of the product
Once you’ve entered this information, the listing will look like this:
- Click Next to proceed.
- All there is to do in this last step is to click Post.
Facebook automatically provides the marketplace as the audience for your listing, which ensures that your product can be used by everyone browsing the site. When you list your first object, the platform generates a Marketplace profile automatically. It will automatically appear as part of your store when you sell a product through the Facebook Marketplace.
This “store” is accessible through the Facebook page of your company’s “shop” tab. It would be best if you started thinking about optimizing your store with a good sales record after you have listed and sold a few items on Facebook. Facebook gives two different badges for how well you communicate with clients.
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5 Ways To Use Facebook Marketplace For Your Business
Since Facebook is predominantly a social network, the marketplace is dedicated to building personal customer ties. The platform is a perfect space for discovering new customers and nurturing relationships with them for this purpose. Your rivalry is not only for other businesses; you are also up against individual users. To start using the Facebook Marketplace for your business, we selected a few smart ideas.
1. Increase Awareness And Discoverability
One of the best and simplest ways of growing your revenue is to raise brand recognition. Fortunately, the site is known to Facebook users as a sharing tool, so it is not difficult for them to discover Marketplace products. And the individuals who see your item are further down the funnel than many of the leads you target with your ads. They’re already searching for things to buy. It would be best if you learned how categories work in the Facebook Marketplace to increase your goods’ popularity.
There are 11 categories at the top level, each of which is broken down into more particular subcategories. They are more likely to identify your items when they browse if you put your goods in categories that cater to your target audience. But that’s not the only way to improve the goods’ exposure. The more individuals who follow your business profile on Facebook, the more people’s news feeds will include your goods. A perfect place to do this is in your product summary. In the Facebook Marketplace, advertisements you make will also show up.
Only ensure that you select one of the following goals:
- Brand awareness
- Video views
- Lead generation
- Catalog sales
- Store traffic
This is a perfect chance to use one of your favorite models for ads as well. These techniques will improve your brand recognition and make it easier for users to discover your products on Facebook Marketplace. You can begin building their trust in your brand once they find your business.
2. Build Trust With Your Audience
Purchasing a product online is all about trust. Businesses must inspire confidence in shoppers any chance they get to get over the inherent gap between online buyers and sellers. As a peer-to-peer site, Facebook Marketplace has unique features that help you create trust with potential customers. First off, all Facebook Marketplace transactions are initiated via Messenger, enabling you to communicate with potential customers via a one-on-one conversation.
Your store page also offers you an opportunity to create trust in your company among potential customers. You can boost your company’s reputation through your page by presenting information about your business and answering shoppers’ questions. You can start using the platform to try out new products and see what resonates once you have begun developing your audience on the Facebook Marketplace.
3. Track What Sells Best On Facebook
The items that sell well in your Shopify store might not be the items that trade on the Facebook marketplace. Make the most of your spending on Facebook advertising by learning which things on that platform are most common. Would you like to see what kind of goods are doing well in the marketplace? To see which items are best-sellers, use categories. You may use this knowledge to create commercials showcasing these types of goods or similar products that you are confident that consumers in the marketplace want to purchase.
By visiting various business sites, you are also able to monitor favorite items. The top-performing articles are always highlighted first if you see a shop. The Marketplace’s Stores segment will also include tailored suggestions based on customer expectations. You can easily find out what types of products are popular with a little bit of study. This data also lets you create effective advertising. Feature products that Facebook customers frequently purchase in your advertisements, and your advertising will lead to sales.
4. Leverage Facebook’s Personalization
Use advertisements to target individuals who have bought from your store or follow your page, in addition to promoting everyday items. Such customers have already shown an interest in your company, so they are likely to buy from you again. One way to do this is to build a lookalike or interest-oriented audience to target in marketplace advertising.
Another way to communicate with users who are interested in your company is via chatbots. Either before or after making a purchase, you will immediately follow up with someone who reaches out on Messenger. It is crucial to keep the conversation going to ensure that leads do not go cold over time. Facebook Marketplace also lets you see what different types of goods sell well on the site as you connect with these customers; you can use this knowledge to build new deals or products of your own.
5. Test Out New Products
Facebook Marketplace is a fast and lean way to do so if you’re thinking about launching a new product or want to try out an idea. You get to test whether or not a product or service resonates with your core audience because Facebook does the targeting for you. Creating a listing is all you need to do, and you’re ready to go! There is no expense whatsoever involved.
Creating a store through the marketplace often makes it easier to promote these items. To let consumers know you’re trying Something new, you can share a new concept or a new product and use the definition. You may also play with marketplace pricing to see how the audience reacts to discounts and price changes, in addition to testing new goods. Consider offering exclusive access to a product or a Facebook Marketplace discount. This move gives leaders and consumers the impression that Something special is being delivered to them and builds their loyalty to your brand.
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