Facebook Marketplace is a feature built into the social media platform that allows users and makes it easy to find, buy and sell items from local businesses right on their page. It’s a convenient way for people, buyers and sellers alike to make use of the platform.
The Facebook Marketplace is becoming more popular as time goes on, but some people are still unsure about what exactly it is, how it works, and whether or not it’s legitimate.
Learn more about this digital marketplace, from its key features to its security measures, so you can decide if it’s right for your next shopping spree.
What Is the Facebook Marketplace?
Launched in 2016, the Facebook Marketplace, Soon Became a Favourite Destination to Sell Items to Local Buyers. Unlike Craigslist, Facebook Marketplace Is Not Just Safer but Also Easier to Use when Selling Locally.
Furthermore, qualified sellers who hope to offer interactions on products in particular categories are allowed by Facebook to provide nationwide shipping, granting them an even greater customer base than local-only traders.
This platform has an incredible 2.9 billion monthly active users, and 800 million of them are believed to be using the Marketplace every month.
Due to its origins as a local buy/sell platform, many people believe this service is a marketplace for used or unwanted home objects.
Yet with its shipping capacities, it is great for retail arbitrage as well, which is when you purchase products from retail stores that are wanted and then resell them on the web at a higher rate.
If you don’t know much about using marketplace yet, take some time out and explore what kinds of goods can be found here.
Just like eBay or Craigslist, you can buy and trade everything from cars to chairs, furniture, video games, and beyond!
What Does Facebook Marketplace Do?
Facebook Marketplace is a virtual marketplace where individuals can plan to purchase, sell, and trade items with other people who live near them. All deals happen outside of the application and are not recognized in a legal sense as being the job of Fb.
With the Facebook Marketplace you can:
- Try to find items for sale
- Take a look at sale products by category and/or location
- Make product entries
- You can make illustrations for an item using the camera feature inside the app or incorporate photos from your device’s photo library.
- Monitor previous and current deals and messages under the “Your Items” spot.
- Set bespoke offers for listings
- Send correspondence to buyers/sellers to arrange exchanges.
How Can You Browse Items for Sale on Facebook?
Fb Marketplace is a great place and initiates with pictures of goods that individuals in your area have advertised. To discover something, you can type a keyword into the search bar by tapping on the search logo in the upper right-hand corner of your screen.
You can sort your outcomes by location, type, or cost. There is likewise a classifications segment, where one can explore things under clothing & accessories, Electronics, and Family, etc.
There is also a location tool to customize your search range.
How Can You Buy Items?
If you stumble across something you’d like to purchase, make sure you tap the image to get a more in-depth look at what the seller has to offer, including a product description, the seller’s name and profile picture, and their location.
You’re also able to save it for later review. When you know for certain that you want it or want to make an inquiry about it, send a message from Marketplace by tapping the “Message Seller” button.
Facebook isn’t responsible for paying or delivering items; the two parties will be responsible for coming to an agreement on those details.
Who Can Sell on Facebook Marketplace?
Facebook Marketplace is a platform for everyone who wishes to sell their products, whether they are new or used. It is a great way to sell your products.
Additionally, it was specially created with e-commerce companies, individual merchants, vendors of handmade pieces, fashion businesses, and real estate agents in mind.
This marketplace mirrors that of Amazon and eBay. Unlike those sites, there is no fee as facebook’s payment system for listing items up on Facebook Marketplace. But you will need to pay 5% of the item’s cost after it is sent out to the buyer.
Advantages of Using Facebook Marketplace for Businesses
With more than 2.7 billion users every month and 1 billion active Facebook accounts on Marketplace, Facebook provides unparalleled outreach when it comes to marketing.
This marketplace opens doors for smaller businesses to reach a large global audience, and we should take a look at the advantages of using Facebook Marketplace.
1. Availability of Different Marketing Tools
Businesses on Facebook can take advantage of the Marketplace’s various tools. One example is the selling feature it offers to merchants.
Additionally, automation tools can be used to create automated responses to user queries or chatbots to supply answers to common questions.
2. Extended Reach
With nearly three billion active monthly users, Facebook has developed into a powerful social media giant. Individuals in the USA typically spend the most amount of time daily on the Facebook app.
Given these impressive statistics, Facebook Marketplace has observed excessive growth within the past years comprising one billion visitors every month and a million active Facebook Shops every month.
For sellers, there probably isn’t another platform as effective for reaching such an extensive target market.
3. Facilitating One-On-One Sales to Prospects
Businesses can now engage with customers one-on-one through Facebook Messenger and sell directly to them. Buyers can conveniently connect with businesses, and the latter can address their queries in real time before potential buyers withdraw their attention.
Additionally, this offers potential buyers a sense of comfort and assurance when making purchasing decisions.
4. Personalized Customer Experience
Equaling the recognition of Facebook, Facebook Marketplace rapidly became trendy for its ability to be tailored, especially for customers.
By employing a smart algorithm, the platform highlights products that have some relevance to consumers and their search activities, aiding your business in discovering the proper customers.
This also helps to make sure that your product is reaching the ideal audience, which increases the likelihood that an engagement will end in a purchase.
5. Accepting Versatile Payment Methods
Checkout on FB Marketplace: the Marketplace on Facebook does not provide any form of transaction processing. Thus, companies are free to employ any type of payment method they want—including PayPal, bank depositing, Shopify, or BigCommerce payment processors.
Of course, it is still possible to collect payments in cash as well; this is often the most viable approach.
6. Allowing to List Products for Free and Boost Sales
With Facebook Marketplace, enterprises can list and control their items free of charge. You can begin to sell things within minutes after your products are listed, enhancing the conversion cycle and spurring sales growth.
Furthermore, if you have a Facebook shop, directly tether it to your Marketplace to foster additional sales opportunities and improves your facebook marketplace experience.
How to List Products on Facebook Marketplace?
As a business proprietor, you need to have an individual or corporate Facebook account first. If you don’t have one yet, then create one. Otherwise, make use of your current Facebook account in the marketplace.
Subsequently, list your items so that they appear on the Marketplace, News Feed, and various other pertinent spots on Facebook.
Note: The stock of products required for the marketplace should correspond with the instructions provided here. Additionally, it is necessary to read through the community standards on Facebook.
Follow these easy steps to create a listing of your products.
- Look at the News Feed, and then click on Marketplace.
- From the menu beneath Marketplace, select “Create a new listing.”
- Select one of the three categories: Items for sale, Vehicles for sale, or Homes for rent.
- On the next page, pick your product category, fill in what you’re selling, set its cost, location and give an item description–you can upload up to 10 photos of items! Click “Next” when complete to go on.
- Last but not least, select “Publish” to finish posting it onto the Marketplace.
Remember you have the option of displaying your products for sale in multiple places for more visibility! Congratulations! Your items are now featured on Facebook Marketplace and ready to be sold!
To view your store click on the “Shop” tab of your Facebook business page; this will make them visible and open up sales potential. Don’t forget that boosting with Facebook Ads can help spread awareness even faster, coincidentally!
How to Advertise on The Facebook Marketplace?
To those who already comprehend how to advertise submissions on Facebook, this isn’t a very difficult process. After signing into your Facebook account, head over to the Marketplace, either by tapping the grid button and scrolling down until you click Marketplace or directly clicking on the Marketplace tab.
When scrolling down the Marketplace page, you’ll be able to see all of the non-paid listings recommended by the app as well as a few sponsored ads.
The sponsored Facebook Marketplace ads are created with the intention of pinpointing the right crowd based on their location and past interactions with users.
Here’s a step-by-step guide to placing an ad on Facebook Marketplace:
- Access the Ads Manager of the ad account to run your campaigns.
- Pick your Campaign Objective according to what you aim to accomplish with your advertisement.
- Alter your campaign settings, targeting and budget and then click Next.
- Choose an Audience; make a new one or utilize a pre-existing audience.
- Inside the Ad Set part, scroll down to Placements and deselect all boxes apart from Facebook Newsfeed & Facebook Marketplace before pressing Next again.
- Confirm that your Facebook page is chosen first, and after that, opt for the ad creatives. Begin by deciding on the ad format Single Image/Video or Carousel and Media, formulating an effective headline, proper description of the product, as well as a call-to-action that will induce clicks.
- Construct a message template because it is where you initiate conversations with users who interacted with your commercial or generate leads as desired.
- Tracking needs setting up beforehand; pick either a Facebook pixel or app event. Keep an eye on the right panel window when making the advert because it gives insight into how it looks like in different places e.g., mobile Marketplace feed, desktop Marketplace feed & desktop Marketplace details page. Then make further tweaks if needed
- When ready hit Publish; if all is according to requirements then Facebook will approve it after review and people should see ads when exploring Marketplace soon afterward.
What Cannot Be Sold on The Facebook Marketplace? Marketplace Rules
Facebook keeps an inventory of items on marketplace that are forbidden to be marketed, including:
- Digital articles or subscriptions
- Firearms, ammunition, or explosives
- Illegal, medical prescription or addictive drugs
- Medical and healthcare items
- Authentic, virtual, or imitation money
- Deceptive, misleading, or off-putting products
- Products that have been recalled
- Tobacco items and accompanying paraphernalia
- Consumable dietary supplements
- Products and services for adults
- Gambling services that involve actual money
What Can Be Sold on Facebook Marketplace?
As long as Facebook’s Commerce Policies are adhered to, a multitude of different products can be sold on the Facebook Marketplace.
According to Facebook, the five most well-liked article groups are:
- household objects
- child and toddler items
- women’s attire and footwear
- automobiles such as vehicles, vans and motorbikes
1. You Must Sell a Physical Item
Facebook doesn’t allow items that are not tangible products for purchase to be advertised, such as:
- “Wanted” announcements
- Lost and found postings
- News stories
- Services like housekeeping and admissions to events can only be found on the marketplace through partnering with one of Facebook’s partners.
2. The Description of The Item Must Match the Image
The photo of your items must tally with the title and description you give them. Even if descriptions are not mandatory, providing an honest one for your list can increase the number of offers you get and manufacturer trust among prospective customers.
Moreover, it is forbidden to show or explain a before and after photograph to explain the advantages of a commodity in Facebook Marketplace postings.
3. Product Research
If you wish to trade on Facebook Marketplace, you must first do some thorough product analysis to make sure what you are selling will bring in profit. This step is particularly essential for merchants looking to form or expand an ecommerce business on Facebook.
Effective product research needs data; it assesses how many items of a certain item sell over time and at what price point, as well as how many sellers are competing for similar customers within particular markets.
Considering that Facebook Marketplace mainly deals with local sales of unique articles, we don’t have an abundance of information about what sells and what doesn’t.
However, we need not take chances when it comes to predicting profitability—we can easily check out which items do best on other platforms such as eBay and Amazon.
There are easier ways to estimate profit prospects, not forgetting the various e-commerce business tools available that handle the tedious work for us.
For instance, Jungle Scout is a remarkable tool featuring exclusive functions like the Product Database and Keyword Scout; they analyze Amazon sales data to inform profitable opportunities in no time at all.
Even though these product research tools were assembled with Amazon in mind, their insights can be applied to Facebook Marketplace too.
It isn’t mandatory to use software to analyze products, but it’s always wise to put your faith in figures rather than intuition when conducting online sales operations.
We should discuss the three key components to bear in mind when conducting market research for an eCommerce platform: profitability, demand, and competition.
Different from eBay and Amazon, no listing costs or commissions are necessary to worry about while selling locally on Facebook.
In contrast, a 5 percent charge could be expected in exchange for collecting payments through their checkout system, should you include shipping with your listings.
For example, if you sell and dispatch an item for ten dollars, then Facebook will take fifty cents as a fee.
- eBay fees: 14% + shipping
- Amazon fees: 15% referral + 15% for FBA fees
To ascertain your likely gain, subtract the buying cost from your sale value.
There is no information supplied by Facebook, so we have to look to eBay and Amazon for relevant data that can inform us about the types of products that are being sold.
To evaluate the market strength of a product, we compute its sell-through rate, which means that it is expressed as a proportion of items listed versus the number of available items that were sold.
If the sell-through rate is high, then the demand for those products is significantly high since many of the listed items are being purchased.
But if the rate is low then there isn’t too much appeal for these goods, and you’ll likely have to wait an extended period of time, from weeks to months before something from your inventory sells.
Fortunately, eBay equips advanced filters, so you can use them with search results to accurately find out what the sell-through rate has been over a period of ninety days.
Thus, this was all you needed to know about the Facebook marketplace. Hopefully, this article has helped you learn how to buy and sell items on Facebook marketplace.