Facebook Marketplace has become one of the fastest-growing marketplaces. Facebook Marketplace represents a real opportunity for both individuals and small businesses. You can take on any challenge with knowledge of what to sell and what not to sell.
This article will explain what Facebook Marketplace is, how it works, and how you can use it.
Using Facebook Marketplace, users can access an online market. The Marketplace was launched in 2016 and focused primarily on connecting buyers and sellers in the local area. This Marketplace was initially structured similarly to Craigslist and other local marketplaces. To make a purchase, users could browse products from sellers in their local areas and contact them directly.
The payment was made off the platform in person during the exchange or through another online method before the meeting. As of today, Facebook Marketplace allows eligible sellers to sell and deliver products across the country.
The buyer can complete payment directly through the Facebook Marketplace platform, and the seller will ship the item to the buyer. This change has resulted in a hybrid market that combines local marketplaces such as Craigslist and online marketplaces such as eBay.
Despite local pickup availability, users can browse local listings and expand their product discovery to other regions.
Marketplace: How does it work?
The Facebook Marketplace operates similarly to other online markets.
- Upon creating an account (or creating a Facebook profile if you do not already have one), sellers can list items for sale. The Facebook Marketplace provides buyers with a selection of nearby objects for sale.
- When a buyer taps on the search icon, they can enter a keyword into the search bar to find something specific. As well as links to your account, cart, and messenger inbox, the sidebar includes a category section.
The results can be filtered based on several criteria, including category, price, and location. Additionally, you can adjust the selection’s region to view products from a broader geographic area.
- Buyers can communicate directly with sellers through Messenger when they are interested in purchasing a product.
It is possible to send two types of messages; either a standard statement that states “Is this available?” or a custom message in which you can write the seller whatever you want.
How the transaction takes place varies on an individual basis. Buyers and sellers often arrange a meeting to exchange goods for payment. Other times, the seller delivers the buyer the item.
Using the Facebook Marketplace to sell
The process of selling on the Facebook Marketplace is relatively straightforward. The situation is, however, different for merchants as opposed to individuals. We will discuss both of these topics here.
The process should be streamlined for individuals who are selling for the first time. Using your Facebook account, click the FB Marketplace tab on the left-hand side of your Facebook newsfeed.
- Select “Create new listing” from the menu.
- After adding a product photo, title, price, and description, you are ready to sell.
Merchants using BigCommerce
The Facebook Marketplace can be easily integrated into your BigCommerce store with the help of our Channel Manager. In the Channel Manager, you can discover, connect to, and manage all sales channels available to you through BigCommerce and accessible Facebook Marketplace and Instagram integrations.
Start by going to Channel Manager, clicking + Create Channel, and then clicking Connect next to Meta. Alternatively, you can create a Meta Business Manager if your store does not have a Facebook Page/Business Page.
Once you are ready, click “Connect”. You will then be directed to Facebook. The following steps will be asked of you on the subsequent screens:
- Meta can be integrated with your BigCommerce store.
- Choose an existing catalog or create a new one.
- Choose an existing Ad Account or create a new one,
- Choose a Meta Pixel or create a new one.
Upon completion, you will be returned to your BigCommerce control panel for setting up your Facebook Shop shipping options and payment methods.
Using Facebook Shops and Marketplaces, you can create ads for your products that appear in Facebook users’ feeds.
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Fees on Facebook Marketplace
Unlike other online marketplaces, sellers do not have to pay fees to list items on Facebook. Additionally, there are no sales commissions or costs associated with the purchase of the product.
Customers who select shipping as their fulfillment method will be the only exception to this rule. This scenario involves the seller being charged a fee of 5% of the sale price. As compared to other platforms, this is still a minimal amount.
The cost of selling on Amazon is $40 per month plus a referral fee between 8% and 15% per item sold. The first 250 items you list on eBay are free, but any additional items will incur an insertion fee of $0.35 per item. Final value fees are charged on each sale at 12.5%. If you list an item on Etsy, there is a $0.20 listing fee and a 5% transaction fee.
Features of Facebook Marketplace
The marketplace is excellent for building customer relationships since Facebook aims to bring people together. There are also one billion visitors to Facebook Marketplace each month. Consequently, it is a great way to reach a wider audience with your products.
Facebook Marketplace offers several benefits to businesses.
Enhance the visibility of your brand
The fastest way to increase sales is to increase brand visibility. Your brand and products can be displayed on Facebook Marketplace, which can help you reach new customers. One million users purchase products from Facebook Shops each month.
Similarly, brands are experiencing a great deal of success. Shops have been reported to have order values 66% higher than those found on the company’s website.
You can make it easier for your target audience to find your products by placing them in categories they enjoy. Get more followers on your Facebook Marketplace profile. Followers will see your items more often in their feeds. Make your product descriptions and images clear.
The popularity of Facebook Marketplace is due to its customizability, especially for its customers. The result will be a higher likelihood of an interaction leading to a purchase if your product is visible to the right audience.
Enhance customer relationships
As a peer-to-peer platform, Facebook offers a unique opportunity for building relationships with buyers. Direct communication with customers is possible through Facebook Messenger sales. Furthermore, people are 53% more likely to purchase from a business that allows them to message them. Customers can also send their messages to sellers using Facebook’s suggested questions:
Free product listing
There is no charge for sellers on Facebook Marketplace. No charge for listing products, regardless of how many you list. Maintaining an account or listing products does not require any payment. When you sell a product, you are only charged a fee.
For shipments under $8.00, Facebook charges a flat fee of $0.40 or 5% per shipment. Taxes and payment processing fees are included in this selling fee. This applies to all checkout transactions on Facebook and Instagram for all product categories.
Check out new product and service listings.
As Facebook Marketplace is a free platform for listing products, it is convenient to test out ideas for product selling. Facebook does the targeting for you, so you can test out whether your core target audience will be interested in a new product.
Consider using MarketplaceMarketplace to experiment with different pricing strategies. After that, you should observe how your audience responds to price increases or discounts. Offer your audience exclusive discounts through the Facebook Marketplace. Customers will be loyal to you if you do this.
Facebook Marketplace Payments
Facebook Marketplace allows vendors to choose the method of payment they wish to accept. Nevertheless, Etransfer and PayPal advise against taking checks at any time.
Discuss payment methods on Messenger so both parties know what works best. Suppose you prefer PayPal or ETransfer, and the buyer does not. When picking up or delivering, if they are local, arrange a cash transaction.
Tips for Selling On Facebook Marketplace
Decide on a competitive price
See what comparable listings are asking before pricing yours. It is essential to ensure that your prices are similar to the current market price. Set a reasonable price following a comparison with other sellers so your items will sell promptly.
Description of Item
Details make people more likely to be interested in what you have to offer. Ensure that the title is clear, the measurements are accurate, and the photos are included.
You should be creative with your descriptions and let people know what makes your item unique. Ensure that you have other relevant information, such as the item’s condition.
Make great photographs
Marketplace listings are only as good as their photos. A high-quality photograph encourages people to purchase since they can determine what the product looks like.
Make sure your pictures are crisp, clean, and sharp before submitting them. For accurate colour representation, capturing images under natural light is advisable.
Quickly respond to inquiries.
The importance of responding quickly to messages on Facebook Marketplace cannot be overstated. As a result, potential buyers will be able to see that you are a respectable, responsible, and responsive seller. A prompt response can help build trust and reputation between buyers and sellers.
Include search tags
Under every FB Marketplace listing form, there is a tag box. Please fill it out with words that a buyer might type in the search bar to locate your listing. As an example, if you are selling an antique necklace, you should include tags such as “antique,” “jewelry,” “vintage,” and so forth.
You can include several search tags in a listing of up to 20. Utilizing them will make it easier for potential buyers to locate the items they seek.
Rules for the Facebook Marketplace
Marketplaces have specific rules because they are organized and have many merchants and buyers. These rules are designed to ensure the safety and ease of operation of the Marketplace Marketplace. As long as you follow these rules, you follow the guidelines for a secure online shopping experience.
Because Facebook Marketplace is a relatively new feature, there are not many rules in place at this time. Despite this, a few considerations should be kept in mind when using the platform:
Sell only legal goods
It is essential to refrain from using the Marketplace to sell illegal items. This should be apparent. Among these items are drugs, weapons, stolen goods, etc. In addition to being illegal, this could also result in your account being banned entirely from Facebook.
Don’t commit fraud
Don’t attempt to scam someone by selling them an item that does not exist or is not as described. In addition to being dishonest, this is also illegal. A person who engages in fraud may be banned from Facebook and subject to legal action.
Keep it civil, don’t spam
Posting duplicate listings or posting listings for items not for sale is not permitted. Using this method is considered spamming and is prohibited. If you spam, your listings may be removed, and you may be banned from Marketplace.
Follow the rules
Make sure you read and follow Facebook’s rules and guidelines. These terms are outlined in the Service Agreement. Your listings may be removed if you fail to follow the rules, and you will be banned from using Marketplace.
Facebook Marketplace can be used effectively and efficiently if you adhere to these simple rules. It is essential to use the platform honestly, transparently, and respectfully.
Is Facebook Marketplace worth it?
The Facebook Marketplace is an excellent option if you are interested in expanding your sales channels. Since you can engage with potential buyers directly on the trusted Facebook platform, Facebook Marketplace is a safe alternative to other local online markets.
The buyers and sellers are not anonymous, so you know you are dealing with a person. Frequent negative experiences will lead to a low rating for the buyer.
Facebook Marketplace has a diverse user base. A wide range of products can be found on the market to appeal to buyers interested in all products. Additionally, several different types of sellers use the platform.