Facebook Marketplace, is a marketplace that allows anyone to post and buy products with people living in the same area. All you need to do is post a picture of the product and add a short description of it.
Facebook Marketplace like E-Bay
Often compared to garage sales, it is, to some extent more comparable to E-Bay but with the huge Facebook traffic. Such as E-Bay, it lacks of protections for users; the description may not match the product, or the shipping may be delayed and the payment to the wrong address.
Nonetheless, Facebook Marketplace represents an opportunity for businesses to increase brand awareness, built trust and get more sales; Marketplace occupies a central place in the mobile application menu.
Recently, Marketplace has become a new placement option for bidding ads. Advertise on Marketplace is, in fact, quite similar to other forms of Facebook Advertisements. First, you need to define the objectives and the budget of the advertising campaign. Then, your ad must comply with the Facebook policies and by approved before being published. For the rest, no need to specify that your ad will follow the traditional bidding system.
However, these ads are only available (for the moment) on mobile devices. Moreover, remember that it’s is impossible to display your ad only on Marketplace. Facebook will automatically display it in the news feed, on Instagram, Messenger, and Audience network.
These ads can help your business achieve many objectives like brand awareness, traffic, conversions or sales. It helps you reach customers in a place where they are actively buying. Your potential customers will see your ad next to other relevant products; so your link should direct to a predefined landing page in a single click.
According to Facebook IQ, displaying your ad on Marketplace can help your business to be 8 times more efficient. This option makes even more sense when you want to quickly liquidate your furniture before moving out.
Finally, Facebook Marketplace is, also, essential when you are trying to sell something big or something at high prices. However, you should be careful; the targeting system still lacks of precision and it is very common to have ads for women displayed to man.
- Facebook Business
- Josh Constine : “ Facebook finally monetizes Marketplace with ads from users and brands” – Techcrunch (June 7, 2018)
- Brad Smith : “The Marketer’s Guide to Facebook Marketplace” – Adespresso (October 17, 2017).
- Ben Heath : “How to advertise in Facebook Marketplace: What Marketers Need to Know” – Social Media Examiner (July 16, 2018)