Facebook has introduced a new feature called Facebook Marketplace and this feature helps you find the things you love and buy them from people you know. Here we are discussing how to sell on Facebook Marketplace and its benefits for small businesses.
Facebook Marketplace targets the same customer segment of craigslist and Airbnb. The marketplace feature is not available to all users and they have introduced this feature only in some major cities as part of their initial tests. Facebook Marketplace works the same way the established players in this segment like Airbnb and craigslist with some additional features.
The total number of Facebook mobile users in the world is 1.34 billion, so think about the reach your product listings can get. Facebook Marketplace will be more suitable for small business owners as there are many features to promote and brand their products online through largest social networking site in the world.
Facebook is continuously adding new features to their current platform with an aim to provide new experiences to their users. As a social media platform that engages users in all segments, people and business houses are using this platform for different purposes like branding and promoting their products and services. In the earlier days, people created pages and groups on Facebook for selling and exchanging their products/services and millions of people (450 million people as per Facebook statistics) have visited and engaged in these groups. So, Facebook has added the marketplace feature to its current platform with additional features. Facebook marketplace addresses the problems of the hyperlocal market problems and largely aims at the online classifieds market (especially peer to peer).
We have seen earlier how Facebook dominates the online socializing space, so without any doubt Marketplace will become a major player in the hyperlocal market segment. The App has a simple design, and anyone can search for a particular product listed near them. The App only shows the product listed within the geological location preferences set by the user.
In other competitive marketplaces, the users have to buy the products from a complete stranger, but in Facebook marketplace, a user has the chance to search details about the buyer or seller, their history and connections. In this new online marketplace, you can get the contact details of the seller and contact them through the Facebook messenger option.
Facebook marketplace is a great opportunity for small business owners to brand their product by creating a clearly defined loyal customer base. Any business can test their product on the Facebook marketplace without spending lots of money before the launch. Systematic selling on Facebook marketplace enables you to collect all the necessary data about your customers like interests, preferences and geological locations etc. Using this database, you can sell additional products to the same target group.
You might have questions in your mind like how to sell on Facebook marketplace and how to finalise deals etc. Facebook does not charge any type of commissions or fees for using this online marketplace. Facebook is only providing the online platform for the transaction’s initial process. Sellers will have to make other agreements with the buyer like the place of real physical transactions and the mode of payment etc.
Like all other online transactions, you have to ensure your own safety before connecting with a person you might not know so well. Before contacting a person for buying or selling a product, just go through their profile and find out if there are any mutual friends or any common connections. This is one of the most convenient features offered by this online platform to avoid any type of criminal deceptions. Don’t share any personal details that are not necessary for the transactions.
How to sell on Facebook Marketplace
Selling on Facebook marketplace is very simple when compared with other online marketplaces. To add the listing of your product, go to the bottom of the App and tap on the shop icon and then tap on the sell icon on the top of the app.
- Take a photo of the item you want to sell or add it from your phone gallery
- Add product name, description, price and choose right categories
- Enter right location and post
Soon, your products listing will be available to anyone looking for the product. Remember, this is a new feature and is not available for all users right now.