Facebook’s marketplace is used by more than 800 million people in over 70 countries (source). It’s a place where people can buy & sell a lot of different items going from clothing to cars. While most people using the Facebook marketplace have been using it for personal use, Facebook has launched a Facebook Marketplace for Business. If you want to boost your sales online as a business, it might be a great way to generate more sales.
In this article, we’ll what the Facebook Marketplace for business is and five benefits your business will have from being active on the platform. At SH1FT, we love helping our clients by keeping them up-to-date with anything that could grow their business.
What is the Facebook Marketplace?
It all started back in 2016 when Facebook announced it was competing with giants like Craigslist & Kijiji with its Facebook Marketplace. It was originally used by people to sell random items going from headphones to cars.
Facebook has quickly seen the advantage it could have for businesses that could sell their products there. It’s why they created the Facebook Marketplace for Business, a way to sell more online.
You might still be a tad skeptical, so let me break down for you what the Facebook Marketplace for Business is:
- Customers can buy the products directly on Facebook without having to leave the platform (less friction, more trust)
- Companies can advertise their products directly on Marketplace without posting directly their product in there
- Brands can show their products that are in their Facebook Page Shop on the marketplace without any extra cost.
- An easy way to show the inventory of vehicles, event tickets and home rentals.
In other words, the Facebook Marketplace for business can allow your brand to have more visibility and thus bring more sales for your business. Two things every business is working hard to receive.
Why using Facebook Marketplace for Business?
Let’s dive into five straight to the point benefits of leveraging the Facebook Marketplace for Business:
1. Visibility through product listings
While many platforms such as Google or even Bing have allowed companies to list their products at no additional cost, the Facebook Marketplace for business has always been free. You can create & manage your listing for no fee.
You can also set up their quick & easy selling options to instantly gain more revenue. This way, you’ll gain more cash flow to invest in Facebook ads.
2. Strong brand awareness
With over 800 million people using the Facebook Marketplace on a monthly basis, it’s no wonder it’s an attractive place for businesses. It’s a great way to gain more visibility and grow your audience, that’s for sure.
What’s even more attractive for businesses is that you don’t even need to make a post in the Marketplace to be seen. You can launch Facebook ads and choose the Facebook Marketplace option to reach more potential buyers. You’ll just need to go to the Facebook ads manager to create your ads and I recommend you take an existing post with social proof.
If you list your items in the Facebook Marketplace as well as launch Facebook ads, you can gain a lot of visibility and reach new heights for your business.
3. Boost your sales
By leveraging the Facebook Marketplace for Business, you will be able to list items you want to sell from your Facebook page shop. This way, your customers will be able to buy from you directly on Facebook. It reduces the friction and increases your conversion rate.
Doing this makes the sales process much simpler for you and your customers. It should also increase the number of sales you make since your conversion rate should improve.
We recommend our clients to link their online store with their Facebook page shop. This way they can publish directly in the Facebook Marketplace and truly benefit from an increase in sales.
4. Customer & sales interactions
If you run your business online, then the Facebook marketplace for business is an ideal solution to couple with your eCommerce Facebook ads strategy that is for sure. Another thing really interesting is the ability to talk to your customers in live.
From the Facebook Marketplace, your prospects can send you messages directly that you can respond in real-time. This ability to connect with your future customers can greatly help in growing your sales numbers. It’s also a great inbound marketing strategy!
Imagine a customer wants to buy your t-shirt but he just has a question about the size of the t-shirt. If he doesn’t get an answer, he might leave. By being able to ask directly, you’ll most likely get a sale you wouldn’t have gotten otherwise.
5. Novelty factor
Since the Facebook Marketplace for Business is fairly new, it can be interesting to get on the platform quickly. By being in the first few, you’ll most likely be able to reap the benefits better.
Finally, I’d add that the Facebook Marketplace for Business is a great way to diversify your Facebook retargeting ads traffic for instance. It’s quite easy to get set up and demands minimal efforts to maintain.
Apart from that, with 1.6 billion active users (just behind Youtube with 2 billion), let’s say it’s a good place to be. If you need help, don’t hesitate to reach out. We’d love to help!