Facebook Marketplace is a literal marketplace. It’s an open exchange, where you can post stuff for sale or buy new and used items off people within your local area.
There has already been over 18 million new items in the Marketplace, ranging from cars to video games to rental houses to clothes.
The premise is super simple. And the buying experience is, too. When you find something of interest, just click to message the seller and you can work it out from there.
Each item might have a few pictures and a short description. But otherwise, it’s up to you and the seller (or buyer) to figure out the transaction details.
It also works flawlessly on the mobile app, with a button conveniently located directly in the middle.
Just tap it to bring up Facebook Marketplace, and the app will use your GPS to start displaying products right around you. SearchEngineLand reports that Facebook will also be creating new categories for:
– Jobs
– Daily deals
– Tickets
– Shops
These new options also open the door for platform integrations.
For example, Shopify owners will be able to seamlessly push products to Facebook Marketplace without having to manually create duplicate listings.
Facebook will also start processing payments directly, and they’ve been testing ads directly in the Marketplace, too.
You could see it becoming a Google Shopping-like experience that piggybacks on Facebook’s already awesome features like custom audiences or Dynamic Product Ads. More than one company has used the platform ‘hack’ in the past to successfully siphon off users from a marketplace.
Airbnb anyone?
They created tools to help Craigslist property managers re-publish their listing over to their own platform.
So now you see the potential.
Facebook Marketplace is revamping the old Classifieds business and going directly after Craigslist’s buyers and sellers. Now, the doors are opening for local businesses to get in on the action.
How To Use Facebook Marketplace For Business
Here’s how your business can take advantage of Facebook Marketplace and capitalize on it — before the competition catches on.
Increase awareness & ‘discoverability’
Trick question: What is the easiest way for new businesses to increase sales?
It has nothing to do with closing methods. It has nothing to do with a green button vs. a blue one on your landing page. Instead, it has everything to do with branding.
Increasing brand awareness is the fastest, easiest way to increase sales.
Facebook’s classified-ad section offers a lot of benefits that Craigslist can’t match.
If you’re a small business wanting to utilize this increasingly popular ecommerce platform, take a look at the following benefits of using Facebook Marketplace for your business.
Benefits to Buying and Selling on Facebook Marketplace
a. Offers Easy to Use Mobile Version
Facebook Marketplace couldn’t be simpler to use when you’re on the move. On a mobile device, you can enter the marketplace from a new button at the centre bottom of the Facebook window.
b. Provides Simple Posting in Four Simple Steps
Don’t waste time agonizing over posting items on the Marketplace, as you simply have to take a photo of an item and add it to Facebook, enter the product description and price, confirm location and category and post!
c. Automatically Shows You Products in Your Local Area
Whether it’s a new printer for a home office or essential tools and gadgets, the Marketplace automatically shows offers available within your vicinity, meaning you can purchase essential business items with ease
d. Offers Browsing Based on Past Activity
Whether you’re listing products or looking for them on Marketplace, the platform’s browsing feature is optimized to display items based on a user’s browsing history, ultimately helping to save your business time.
1) Provides Browse to Buy Feature Based on Your Communities
Marketplace’s Browse to Buy feature filters feeds of products which users can purchase from the communities and groups they belong to.
2) Offers the Opportunity to Interact with Potential Customers
Facebook Marketplace provides a place for buyers and sellers to interact with one another.
