Move over eBay; there is a new marketplace in town that makes listing and selling unwanted items much easier for sellers. Given the large amount of users already on Facebook, as well as the platform's strong advertising capabilities, users have started to harness Facebook's power to sell items to other users.
The idea behind Facebook Marketplace is simple: sellers post ads and listings for their unwanted items that are up for sale. Buyers can then look for available items within a number of different categories, and reach out to the seller to make an offer. From there, payments are made and everyone walks away happy. In essence, this is a new-age version of free classified sites to buy and sell online and it should be a part of your social media marketing strategy.
While this may sound easier said than done, there definitely is more to selling on Facebook Marketplace than just listing an ad and waiting for buyers to come to you. Facebook marketing can be quite easy, and with the benefits of selling to people in your location and providing a more personalized customer experience, here are some tips and insights on how to sell on Facebook Marketplace.
Table of Contents
What is Facebook Marketplace?
Why you should use Facebook Marketplace?
How does Facebook Marketplace work?
How to make money on Facebook Marketplace
Can I create Facebook Marketplace ads?
What is Facebook Marketplace?
In essence, Facebook Marketplace is an online open exchange feature on Facebook where users can buy and sell new and pre-owned items to other users. The Marketplace is already built-in into both the Facebook app or Facebook.com so there is no need to download or install the Marketplace. People can find what they are looking for by filtering their search results by location, category, and price, as well as get in touch with sellers via the Messenger app to complete the transaction.
Any user can their list products for sale on Facebook Marketplace and gain access to a local audience who may be interested in what the user has to offer. The great benefit of using Facebook Marketplace is how it has built-in interest audience targeting and easy-to-use product categorization for your items. Simply put, the Marketplace on Facebook really has been created and tailor-made to help you increase sales — whether for your personal items or for your business.
Why you should use Facebook Marketplace?
1. Helps increase awareness and discoverability
Increasing brand awareness is one of the fastest ways to boost your sales. You're in luck in this regard because Facebook users are already relatively familiar with the platform, and it won't be so difficult for them to discover listings on Marketplace.
Facebook Marketplace Categories
To boost the visibility and discoverability of your items, let's talk about the different Facebook Marketplace categories. With more specific subcategories, there are 22 top-level categories that you can place your listing under:
- Antiques & Collectables
- Arts & Crafts
- Auto Parts & Accessories
- Baby Products
- Bags & Luggage
- Books, Movies & Music
- Cell Phones & Accessories
- Clothing, Shoes & Accessories
- Electronics
- Furniture
- Health & Beauty
- Home & Kitchen
- Jewelry & Watches
- Musical Instruments
- Office Supplies
- Patio & Garden
- Pet Supplies
- Sporting Goods
- Tools & Home Improvement
- Toys & Games
- Video Games & Consoles
- Miscellaneous
If you place the items that you are selling in the Facebook Marketplace categories that appeal to your target audience, they’re more likely to find your items as they browse. Similarly, the more people who follow your Facebook business page, the more chances you have of your items appearing on their news feeds.
2. Builds trust between your brand and your audience
Buying items online is all about trust, and if you want to bridge the gap that is the inherent distance between online Marketplace buyers and sellers, you need to inspire confidence and trust in potential buyers.
As a peer-to-peer platform, Facebook Marketplace has unique characteristics that can help you build this trust with potential customers. With all sales transactions on Facebook Marketplace starting through the Messenger app, this lets you connect with potential customers through a one-on-one conversation, and provide a more personalized customer experience with your business.
Your store page on the Marketplace also gives you an opportunity to build potential customers’ trust in your business. Through your page, you can boost the credibility of your brand by providing relevant information about your business and answering shoppers’ questions.
Once you’ve started building your audience on Facebook Marketplace, you can start using the platform as a way to test out and launch new products and see what resonates with them.
How does Facebook Marketplace work?
Any user can sell an item on Marketplace as long as Facebook approves the listing and ad that they upload, which needs to meet Facebook's Commerce Policies. One great advantage of Facebook Marketplace is that you don't need to create a new or separate account to use the Marketplace; you can get started with either your personal or business Facebook account.
Selling an item on Facebook Marketplace
When you are selling something on Marketplace, you create a public listing - which includes the actual ad and content of what you are selling - that can be seen by any user on Facebook. To sell on Marketplace:
- From your News Feed, click the "Marketplace." icon.
- Select "+ Create New Listing", then click "Item for Sale".
- Select "Add Photos" to upload a photo of your item from your computer or mobile phone.
- Enter the information about your item. To mark an item as Free, you can enter 0 as the price.
- Select "Next". If "Next" is greyed out, make sure that you've entered the information that's required, and include the category of your listing, relevant tags and whether you will provide shipping or not. Facebook, however, requires the following information for every listing:
- Up to 10 images of the product
- Category
- What you’re selling
- Price
- Location
- A description
- Select "Publish" to post your Marketplace listing.
Buying an item on Facebook Marketplace
As long as you have a personal or business Facebook account, buying on the Marketplace is quite easy. To purchase something on Marketplace, you can send a message, via Messenger, to the seller to arrange the purchase:
- From your News Feed, click the "Marketplace" icon.
- Click on the item you want to buy.
- Reach out to the seller via Messenger.
- From here, the conversation is solely between you and the seller, and negotiations can take place.
- Once an agreement has been made, and method of payment has been discussed, the seller will update the listing with "Pending" for a sale that is in process.
- As soon as the transaction has been made, the seller updates the listing as "Sold."
How to make money on Facebook Marketplace
Making money on Facebook Marketplace can be quite simple because of how easy Facebook makes it for sellers to list their items and generate sales. Adding to this the audience and location targeting, and how both buyers and sellers can quickly see the available ads of items for sale.
With the wide range of items that you can sell, here are some tips that will help you make money on the Marketplace:
- Make sure you have clear photos of what you are selling.
- Be as detailed as possible in your listing, and include information like the model number, the condition of the item, and extras that come with the item.
- Sell your listing for the right price. Be realistic, especially if your item is in a fairly used condition.
- Potential buyers may want to negotiate with you. Keep this in mind but remember that you are not obligated to accept offers where you think the price is not fair.
While selling on the Marketplace may not be a long-term solution for a consistent amount of sales, it is one of the quicker ways to generate small sales and income, as well as reach potential buyers for future goods you may want to sell.
Can I create Facebook Marketplace ads?
The short and simple answer: yes you can! Just like how you can create and boost social media ads on Facebook, you can do the same with your listings on the Marketplace. While Facebook Marketplace is a place to discover and buy items, listing an item for sale isn't the same as creating a paid Facebook Marketplace ad to appear when people are shopping on Marketplace. However, you can help your business reach more people as they hunt for items by creating Facebook Marketplace ads.
If you want to better market your items on Facebook Marketplace through ads, here's how to do that on both desktop and mobile:
- Select your Commerce Profile, then choose "Your Listings" under the Selling section.
- All your listed items will appear, even the ones that you have previously sold. Here, you will have the option to either relist the item or mark it as available.
- Select "Boost Listing" next to the item that you want to create an ad for. Boosting, in essence, will help promote the items that you are selling and have them appear more prominently alongside similar listings on Marketplace and in the News Feed.
- Next, choose your budget. Facebook will only charge you when a potential buyer sends you a message regarding your boosted listing. Once you have marked your item as "Sold" or you have a "Pending" sale before your ad campaign ends, Facebook will pause your ad and stop any additional charges.
- Select how long you would like your boosted listing to run for.
- Select your payment method.
- Select "Boost Listing". Once your Facebook Marketplace ad is live, you'll be able to get insights on how your listing performed. From the number of listing views to how many people your ad is reaching, Facebook provides a detailed look into the performance of your ad.
Remember that while Facebook Marketplace ads will appear among other relevant products, they will be distinguished by their larger size and a Sponsored label.
Conclusion
Facebook Marketplace is quick and easy, cost-effective, and informative with audience targeting that would benefit any brands and businesses looking to increase the visibility of their products.
Marketplace really can lead to new business and offers a personalized sense of customer service that can help to make sales all the easier. If you want to learn more about how you can include Facebook Marketplace into your overall Facebook marketing strategy, get in touch with Meltwater today.
