One way to characterize the Facebook Marketplace is as an online shop where individuals may purchase or sell goods. It functions similarly to an e-commerce website or mobile application, with the website handling all payments, transactions, and procedures. Customers may simply access items from many providers on a single platform, thanks to it. The idea of a one-stop online marketplace is not new, but as e-commerce has grown, so has the need for digital marketplaces. Users have realized the benefits of Facebook Marketplace.
To provide users with a convenient destination to discover, buy, and sell items with people in the community, Facebook released the Marketplace app. Marketplace, which is accessible via the Facebook app, desktop, and tablet versions of the network, is a well-liked sales channel that connects with billions of monthly Facebook users. Users in 70 countries may access the marketplace, where local transactions are usually closed by Facebook buyers and sellers.
Business Advantages of Facebook Marketplace
1. Reach Interested Buyers
Reaching interested buyers is one of the benefits of Facebook Marketplace. Because Facebook Marketplace lets you connect with potential customers, it’s a great investment for your company. People who are already looking for goods similar to yours are being reached by you. Assume, for the moment, that you offer office supplies.
When someone searches for an office desk, they will see your product listings alongside those of other desk sellers. Their search was fulfilled by your goods; thus, they are probably going to be interested in them. You’re reaching customers who are interested in your items as a consequence.
2. Turn Followers Into An Email List
Gaining likes on your page is insufficient to provide a long-term, sustainable road to success for your company. Indeed, it helps create a trustworthy social media presence, brand recognition, and social proof. However, what would happen if Facebook were to *poof* vanish one day?
What happens if Facebook significantly scales down its business features? What if Facebook hikes up the cost of ads? Your company might be in danger if any of this occurs without you obtaining the contact information of your followers. To stay in touch with their audience outside of Facebook, astute companies gather email addresses from Facebook followers. Because you can dynamically engage your followers through a different marketing channel, email collection is a great tool.
Numerous companies do this by holding worthwhile competitions, enticing gifts, and essential newsletters. It’s a tried-and-true method (89% of marketers said they mostly use email to create leads). However, you must exercise caution in how you utilize your leads.
3. Lower Marketing Cost
One of the importance of Facebook Marketplace is that it doesn’t burn a hole in your pocket. The total cost to start a Facebook business page is $0.00. Yes, you may hire a professional graphic designer to create your cover photo and profile image (but it’s not required).
It’s OK to use photos you take of your company, and sometimes it works better than a designer’s imaginative picture. This is what I’m trying to say: Starting a page doesn’t cost anything unless you begin to pay for posts to be boosted, advertisements to run, and sponsored stories—all of which you should be doing with your page.
Facebook is said to cost a small fraction of what other ad networks, like Google, would cost, even if you run advertisements on it. Let’s now contrast that with offline marketing. Compared to conventional print, radio, or television advertisements, Facebook advertising is still very cheap and provides a 1,000x greater reach to your target demographics. It is one of the most amazing benefits of Facebook marketplace.
4. Shopper Doesn’t Need To Leave Facebook To Get Information
Selling on Facebook Marketplace gives your customers all the information they want. Giving customers all the information they need about your product in one convenient place eliminates the need for them to go elsewhere. This platform makes this possible.
A comprehensive description section includes all the information about the product, including its characteristics. The product’s star rating and reviews, which indicate whether or not other people thought the product was good, are shown as you scroll down the page. The ad also contains pricing details, such as the item’s price and the seller’s delivery guidelines.
Users may find all the information they need to purchase this listing. Your chances of closing a deal increase if you can provide all that information in one location. Furthermore, consumers are more inclined to buy because they can do so from inside the Facebook app and avoid leaving.
5. Target Specific Audiences
Targeting specific audiences is one of the benefits of Facebook Marketplace. Facebook is used by 2 billion people daily, but that doesn’t imply that everyone wants to like your page. Since only a small portion of them will interact with your postings, you don’t want them all to like your page. When you use Facebook for business, you want people to visit your page because they want to.
Thus, what is the response? Advertise to targeted audiences! If your company is local, we suggest focusing your advertisements on clients within a 10 to 15-mile radius (this is known as radius targeting on Facebook). Although the advertising may cost more, it is more specifically focused on likers and prospective consumers. Not to mention that because of your Facebook advertisements, you can experience the “local celebrity” effect, when locals begin to recognize your company.
You would struggle to determine if the individuals your Facebook ad targeted were the correct ones for your company if television advertisements were compared to that platform. TV ads often function more as a marketing effort to raise brand recognition. Conversely, Facebook? You have the freedom to target your market as broadly or as narrowly as you’d like.
6. Have In-Depth Audience Insights
Not every one of us is good with numbers. However, you don’t need to be a math whiz with a 1,000 IQ to appreciate the insights offered by Facebook company sites. Thus, when you’re considering, “What are the benefits of having a Facebook business page?” Your observations ought to come to mind. Why?
Because they’re simple enough for non-technical folks to grasp, and they provide company owners with excellent information. You may go further into the left sidebar to learn more about your followers’ demographics, how certain articles are doing, etc.
The posts that you enhance for a larger audience should be your most successful ones since they have a track record of garnering interaction. With an advertisement in your local newspaper, compare this: Do you have any similar statistics on the number of individuals that came to your establishment because of the advertisement? Can you monitor your newspaper ad’s impressions? Not a possibility.
7. Build Brand Loyalty
A Facebook business page may be quite beneficial for fostering brand loyalty in addition to serving as a platform for expanding your consumer base and product sales. What does it mean? Well, your fans will stick with you even if you make mistakes if you regularly provide insightful and enjoyable stuff (but the quality of your goods matters nonetheless).
You don’t have to be the only one offering the same services to run a nearly identical firm. However, since you are more noticeable, more people will want to work with you. Nowadays, consumers search online for companies to purchase from: And what do you know?
One of their first destinations is social media! You have a much higher chance of closing deals with your followers if they see that you are responsive and active on Facebook than if your page is poorly managed or has no presence at all.
User-generated content (UGC) from contented guests is what keeps Airbnb’s feed full. This enables them to showcase distinctive, far-off places that their fans would like. And now for this: Because Facebook’s algorithm prefers visual information over plain links, Airbnb’s approach notably increased the reach of its organic posts.
Every campaign also serves as an opportunity for the company to engage with consumers. Airbnb gets a lot of responses to their postings because they emphasize customer service and ask questions to learn about the requirements and aspirations of their consumers. Therefore, Facebook may help your company retain long-term clients by fostering brand loyalty.
8. Boosts Your Website Traffic
One of the amazing importance of Facebook Marketplace is that it boosts your website traffic. Astute Facebook page managers use their pages to increase website traffic. You’re not accomplishing many business objectives if all you’re doing on Facebook is getting people to interact with your postings. All you’re doing is entertaining.
Getting your Facebook followers to visit your website is one approach to turning their followers into income (that’s among the tools you sell the most of). Thus, begin using link postings to increase website visitors. One of the best things about link postings is that Facebook will create a large, high-resolution picture if your website allows it. These expansive photos are really popular.
On the link postings, there can be fewer likes, comments, and shares. And that’s all right; the purpose of such postings is to increase traffic rather than necessarily encourage Facebook involvement. The last word? Utilizing effective posting techniques on your Facebook page may greatly boost the number of visitors to your website. It is one of the best benefits of Facebook marketplace.
9. Use People’s Phones To Communicate With Them
The real deal is that 98.5% of Facebook users visit the social media network using mobile devices. Furthermore, a lot of people use only their mobile devices to access it. It’s becoming more and more crucial for your company to be active on Facebook as this trend continues. Having a Facebook business page has the advantage that Facebook does the legwork for you. How?
Your website is automatically optimized for both desktop and mobile devices. When viewers access your Facebook page from a mobile device, they see:
- Hours of operation.
- Address.
- Reviews.
- Phone number to call directly.
This is the reason why updating your Facebook profile with all of your contact details is so important. Customers shouldn’t have to go around to find out how to pay you.
A Few Downsides
There are several benefits of Facebook Marketplace, but it also has some drawbacks. As cautious as we should be while making payments and buying online, e-fraud is a constant danger. Professionals may learn how to reach their target audience in the digital world by taking a social media marketing course. The following are a few drawbacks of using Facebook Marketplace:
- Sales and transactions are not safeguarded. Since trust is the foundation of the process, fraud might occur. Products that are bought to be picked up locally are not protected.
- Facebook Marketplace does not ensure that buyers and sellers are who they claim to be. One is afraid that someone is up to no good. Buyers and sellers may encounter issues as a result of scammers. This anxiety may be greatly minimized if it is employed by a community or group.
- Because it does not enable a distribution mechanism, there are safety issues. This implies that in-person contact would be necessary for the majority of the exchanges. Many people may not find this to be convenient or pleasant. When purchasing large quantities of furniture or other large-scale items, it may be challenging to have them delivered and moved quickly using trucks.
FAQ
Q: Can businesses utilize the Facebook Marketplace?
A: All companies may use Facebook Marketplace for free to list and manage items. You may start selling and streamlining the conversion funnel by listing your items in a matter of minutes.
Q: What is the selling price per sale on Facebook Marketplace?
A: Facebook charges us a fixed fee of $0.40 for items under $8, or 5% of the price.
Q: Which payment method on Facebook Marketplace is the safest?
A: Never send money straight into the bank account of a vendor. Offer to transfer and receive money using Messenger or a safe person-to-person payment website like PayPal instead.
