The e-commerce industry has changed drastically due to the growth of technology and technology-related platforms. For small to medium-sized enterprise (SME) founders, having a website and a physical store are just two ways of making sales. Entrepreneurs are not only leveraging their websites, but also using social media as a way to sell products and services. One platform that enables this is the Facebook Marketplace.
The Facebook Marketplace initially was leveraged by users to sell and buy second-hand furniture, appliances, clothing, cars and other items. Since then, entrepreneurs have been leveraging the platform to target a larger customer base and increase their revenue.
In this article, we look at how the Facebook marketplace works and how you can buy or sell your products/services there.
What is the Facebook Marketplace?
Facebook Marketplace is a digital, community-driven platform integrated into the Facebook app and website, allowing users to buy, sell, or browse various goods locally or via shipping. It functions as a free, Craigslist-style hub for individuals and businesses to list items ranging from furniture and electronics to vehicles and housing.
Key Features of the Facebook Marketplace
This is what the platform allows users to do.
- Search for items to buy: You can find specific items or browse what’s available nearby.
- Browse by category and location: You can filter listings to narrow down your search results.
- Create detailed item listings: Users can add photos, videos, descriptions and prices for items.
- Offer shipping: You can sell to buyers outside your local area by offering shipping at an extra cost.
- Message buyers and sellers: Users can communicate directly with each other to ask questions, negotiate prices and arrange pickup or shipping.
- Manage activity: You can keep track of your current listings, past sales, and communications on the platform.
- Preview items: For certain products, you can leverage augmented reality (AR) to see how they might look before purchasing.
Remember, Facebook (and Meta) does not play a role in the payment process. You need to ensure that the person you are buying from or selling to will adhere to your payment requests.
Benefits of Facebook Marketplace for SMEs
Much like other e-commerce channels, there are many benefits for businesses that sell on the Facebook marketplace.
Easy-to-use Mobile App
The mobile app provided by Facebook makes it easy to use and accessible for users to buy and sell on the marketplace. Also, this makes listing products easy for entrepreneurs and easy to find for buyers.
Free Listings
Facebook does not charge users any fees to list their items on the marketplace. However, there is a 5% deduction taken by the platform when a sale is made on the marketplace.
Large Customer Base
Facebook has over 3 billion monthly active users, making it the platform one of the biggest social media platforms in the world. For businesses using the marketplace this is an opportunity to access a large customer base outside your location.
Payment Options
You can use various payment options on the marketplace. This provides buyers and sellers with flexibility and control over how they pay and how they receive money.
Browsing Features
The browsing feature on the marketplace enables users to customise the display items depending on their browsing history. This also ensures that your products are getting displayed to potential customers who fit your ideal demographic.
Quick Posting
You can post your product pictures and descriptions in real-time from the app. This helps business owners to be able to update their listings quickly and conveniently.
There are a number of benefits that come with selling on the Facebook marketplace. You can customise your digital storefront to fit your physical store or let it be an extension of your website.
How to Sell on Facebook Marketplace
Before you start selling on the Facebook marketplace, you need to ensure you set up your account properly. Use the following steps.
Step 1: Set up a Facebook Marketplace Account
To set up your Facebook Marketplace account, simply log in to your personal Facebook account and click on the Marketplace icon. If you don’t see it immediately, try clicking on the “See More” option from the menu bar to find it. From there, you’re ready to create a listing.
Alternatively, you can create a Facebook Shop, which is a more comprehensive e-commerce experience.
Step 2: Create Your Listing
When selling on Facebook Marketplace, you must grab the attention of your potential buyers with a strong, compelling listing. To get started, first click on “Marketplace” from the left-hand sidebar. Then, click “Create new listing.” From there, you will need to select the type of listing you want to create.
Afterwards, you will be asked to provide the details of your listing. This should include a clear title and description. You should also use relevant keywords in your copy to improve your chances of getting seen. Lastly, you will have to post high-quality photos or videos of the items for sale. Potential buyers are more likely to click on listings with clear, detailed images.
Step 3: Set a Delivery Method
Before you can publish your listing, you’ll need to choose from one of several delivery methods:
- Shipping only: You, the seller, will be responsible for shipping items directly to your buyers within 10 business days of receiving the order. Note that many purchases that are completed with checkout on Facebook are covered by Purchase Protection.
- Local pick-up only: You will need to arrange an in-person pick-up with your buyer, or you can use your existing store location as a drop-off/pick-up location.
- Shipping and local pick-up: Buyers can choose between pick-up and shipping or offer both, depending on whichever is most convenient for them.
Step 4: Promote Your Listing(s)
Once you have set up your listing, it does not mean the work is done. You will need to invest time and potentially money into promoting your listings. Consider the following:
- Tap the locals: Join local buying and selling groups by using the groups feature on Facebook. You’ll find many customers looking for a good deal or other sellers wanting to make money.
- Cross-promote your listings: Post your listings on your other social media channels, like Instagram.
- Leverage Facebook Ads: Create ads that put your listings front and centre when people are scrolling through Marketplace or other Meta-owned channels (like Instagram, Messenger and the Meta Audience network).
