Facebook Marketplace and how to apply for Facebook Marketplace Shop – Facebook Marketplace was introduced in 2016 as a way for users to buy and trade inside their Facebook groups. Consider Craigslist, but with the addition of Messenger. However, plans to expand the platform to include more firms suggest that big changes are on the way. Businesses will be allowed to post advertising on Marketplace, Facebook said in June 2018. Facebook is also planning to add additional B2C options to its C2C platform in the near future. A Comprehensive Guide for Marketers on Facebook Marketplace
Imagine Amazon with a hyper-targeting algorithm, to put it another way. So, how does Facebook Marketplace function? What can companies do to prepare? Continue reading to learn about the new features that are currently accessible, as well as how to prepare for the future.
Download a free eBook that explains how to utilize Hootsuite to turn Facebook traffic into sales in four easy steps.
What is Facebook Marketplace?
Facebook Marketplace is a platform for online buying. It’s a location where Facebook members can buy and trade locally. As of May 2018, Marketplace was used by over 800 million individuals each month in over 70 different countries. Facebook Marketplace is available in both the Facebook app and on the desktop:
- On mobile, tap the white storefront icon at the bottom of the iOS app or the top of the Android app.
- Click the red and white storefront symbol in the left margin of a desktop web browser.
Facebook Marketplace listings are categorized into categories such as Entertainment, Vehicles, Housing, and Hobbies. Searches can be filtered by price and area, and listings may be saved for future reference.
Facebook Marketplace ads
When someone browses on Facebook Marketplace, ads display in their news feed. These locations have the added benefit of reaching consumers where they are shopping. When compared to News Feed advertisements, advertisers have observed a significant rise in conversion rates.
Facebook Marketplace Shop listings
Only businesses situated in the United States may apply to list and sell items on Facebook Marketplace for the time being. Auto dealerships are allowed to offer autos via inventory partners in certain places.
The marketplace now has brand listings in two places: the Shop category and the Daily Deals category. (This material is only accessible to users in the United States as of January 2019.) Only hand-picked firms who sell brand-name items at discounted rates are eligible for the offers program.
There are no list fees or commissions charged by Facebook. As a result, for businesses that have been granted permission to list their items on Marketplace, it is essentially a free, natural distribution channel. Marketplace listings, on the other hand, require the use of the Facebook Checkout interface, which adds a $.30 and 2.9 percent fee to each transaction.
The deals program
The deals program is divided into three tiers: Everyday Deal, Featured Deal, and Lighthouse Program.
Better bargains are assigned to higher tiers, which provide more exposure. Brands that provide exclusive deals in the Lighthouse Program, for example, may benefit from top placement, customer subsidies, on and off-site promotion, and influencer outreach.
Ads and store listings benefit from Facebook’s targeting technology, which shows your content to the most potential customers.
Who is eligible to Sell on Facebook Marketplace?
There are currently two major choices for companies interested in selling on Marketplace. You may apply to be a Facebook Marketplace Shop offers partner or list your products there. Keep in mind that for the time being, applications are only open to US retailers and automakers.
How to apply the Facebook Marketplace Shop
Page admins must fill out the Marketplace eCommerce Retailer Interest Form to apply to sell on Facebook Marketplace. Working with one of Facebook’s listed partners, such as BigCommerce, Shopify, or Zentail, is a distinct advantage because entry to Marketplace is limited.
Retailers must be able to fulfill the following standards in order to apply:
- Consumers should be sold new things.
- a company based in the United States
- Orders must be filled in three days and received in seven days.
- Accept returns for a period of up to 30 days.
- A name, description, further product photos, and a thumbnail image on a solid backdrop are required for product listings. There should be no visual overlays, text, icons, or badges on photos. Facebook Marketplace: A Comprehensive Guide for Marketers
Companies from the following industries have been prioritized to sell on Marketplace: beauty, apparel, and accessories, bags and luggage, baby and kids, home décor.
How to apply to become a Facebook Marketplace deals partner
Businesses that meet the requirements for listing on Facebook may also be eligible for the offers program. Pricing for deals must be at least 15% lower than the manufacturer’s suggested list price in order to be considered (MSRP).
Consumer electronics, home, gift cards, gaming, toys and games, intimates and hosiery, footwear, sports and outdoors, beauty, jewelry and watches, and apparel and accessories are among the categories favored for Daily Deals.
Facebook has created a beta cooperation program for car and housing rental companies. If your business qualifies, you may apply here. If not, keep an eye on this space for future updates. Facebook Marketplace.