Facebook Marketplace | All you need to know about Facebook Marketplace – Facebook Marketplace was introduced in 2016 to allow users to buy and trade inside their Facebook groups. Consider Craigslist, but with the addition of Messenger. However, plans to expand the platform to include more firms suggest that significant changes are on the way. For example, businesses will be allowed to post advertising on Marketplace, Facebook said in June 2022. Facebook is also planning to add additional B2C options to its C2C platform shortly.
Imagine Amazon with a hyper-targeting algorithm, to put it another way. So, how does Facebook Marketplace function? What can companies do to prepare? First, continue reading to learn about the new features that are currently accessible and how to prepare for the future. Then, download a free eBook that explains how to utilize Hootsuite to turn Facebook traffic into sales in four easy steps.
What is Facebook Marketplace?
Facebook Marketplace is a platform for online buying. It’s a location where Facebook members can buy and trade locally. As of May 2022, Marketplace was used by over 800 million individuals each month in over 70 different countries. Facebook Marketplace is available in both the Facebook app and on the desktop:
- On mobile, tap the white storefront icon at the bottom of the iOS app or the top of the Android app.
- Click the red and white storefront symbol in the left margin of a desktop web browser.
Facebook Marketplace listings are categorized into categories such as Entertainment, Vehicles, Housing, and Hobbies. Searches can be filtered by price and area, and listings may be saved for future reference.
Facebook Marketplace ads
Ads appear in a user’s news feed while they explore Facebook Marketplace. These sites also offer the advantage of contacting customers where they shop. Advertisers have seen a considerable increase in conversion rates when compared to News Feed ads.
Facebook Marketplace Shop listings
For the time being, only companies based in the United States can apply to list and sell products on Facebook Marketplace. In some areas, auto dealerships are also permitted to list vehicles through inventory partners. Facebook Marketplace: A Comprehensive Guide for Marketers. Brand listings are now available on Marketplace in two locations: the Shop category and the Daily Deals category. (As of January 2022, this content is only available to users in the United States.) The deals program is only available to hand-picked businesses that offer brand-name products at reduced prices.
Facebook does not include charge list fees or take a commission cut. So, for firms who have been permitted to post their products on Marketplace, it is effectively a free, organic distribution channel. However, Marketplace listings necessitate a Facebook Checkout interface, which adds a $.30 and 2.9 percent cost to each transaction.
How to apply to list in the Facebook Marketplace Shop
Page admins must fill out the Marketplace eCommerce Retailer Interest Form to apply to sell on Facebook Marketplace. Working with one of Facebook’s listed partners, such as BigCommerce, Shopify, or Zentail, is a distinct advantage because entry to Marketplace is limited.
Retailers must be able to fulfill the following standards in order to apply:
- Consumers should be sold new things.
- a company based in the United States
- Orders must be filled in three days and received in seven days.
- Accept returns for a period of up to 30 days.
- A name, description, further product photos, and a thumbnail image on a solid backdrop are required for product listings. There should be no visual overlays, text, icons, or badges on photos.
Companies from the following industries have been prioritized to sell on Marketplace: beauty, apparel, and accessories, bags and luggage, baby and kids, home décor.
How to apply to become a Facebook Marketplace deals partner
Businesses that match the criteria for a Facebook listing may be eligible for the offers program as well. To be eligible for a bargain, the price must be at least 15% less than the manufacturer’s recommended list price (MSRP).
Consumer electronics, home, gift cards, gaming, toys and games, intimates and hosiery, footwear, sports and outdoors, beauty, jewelry and watches, and clothing and accessories are just a few of the popular Daily Deals categories. For vehicle and housing rental firms, Facebook has launched a test collaboration program. You may apply here if your company qualifies. If not, keep an eye out for future changes on this page.
How to prepare your business page for Facebook Marketplace
Open a Facebook Page Shop
On their business profile, every Facebook Marketplace listing must include a Facebook Shop. Additionally, as the Marketplace deployment progresses, companies with shops may have their items included in Marketplace for a short time.
Shops act as a marketplace on Facebook. A store may be added to any business page, albeit the functionality available may differ based on your location. Payments on your Facebook Shop may be set up to be processed either via your website (or another service such as Paypal) or directly on Facebook with Facebook Checkout integration.
Content from your store may be shared, stored, used in advertisements, and relocated to Marketplace. You must first submit at least one product for examination and approval before you can establish a company.
Launch a product collection
For the things you offer in your store, you may build collections. If your collections are well-organized, customers will have a simpler time finding and purchasing items. You may create collections especially for Facebook or mirror existing collections to fit your website’s organizing system. Products may be added to and removed from collections at any time, and you may create up to 50 different collections.
In general, the higher the image quality and the more information you offer in each product description, the better. For maximum effectiveness, adhere to Facebook’s product picture and description guidelines, particularly as this will align you with standards for future Marketplace inclusion.
If your business is approved for Facebook Marketplace, your store’s items will appear in the marketplace feed. Make sure your visuals and content satisfy the Marketplace’s requirements in advance. (Keep in mind that there should be no overlays and a solid backdrop.)
Integrate with Facebook Checkout
You may have a store without utilizing Facebook Checkout, but you must add Marketplace to your page’s store if you wish to utilize it. Retailers in the United States are the only ones who can use this feature right now.
People may utilize Facebook’s payment feature to make purchases without having to leave the app or website. Conversions are naturally increased when payment options have less friction. Another advantage of utilizing Facebook Checkout is that customer forms are pre-populated, which speeds up the checkout process.