It’s no secret that Facebook is a valuable platform for businesses looking to boost their visibility and sell their products. With almost 2 billion monthly active users, the social media platform offers a wide audience for businesses of all sizes to connect with customers. And its popularity has only increased since its recent integration with Camera and New Friend Search.
Now, we’re seeing an even greater interest in buying and selling items directly from our friends on the site. That’s why it comes as no surprise that the launch of Facebook Marketplace exceeded expectations.
Today, we’ll be exploring why you should start immediately selling on Facebook Marketplace if you haven’t done so already, offering tips and tricks on how to do so most effectively, and outlining the top five things you need to know about selling on Facebook Marketplace right now. Let’s dive in…
In October of last year, Facebook rolled out its revamped local selling platform called Marketplace with a new feature called Shop discovery that uses artificial intelligence to recommend products. Marketplace is a different beast than standard Facebook ads or your standard Amazon product ads. These types of ads need to be approached in a different way. Let’s take a look at 5 tips and tricks to selling on Facebook Marketplace effectively.
1. Be a good seller
There are plenty of reasons to not buy from a Facebook Marketplace seller. We don’t know if they follow basic business or even security practices. If you can’t assure the buyer, your reputation will suffer the consequences. That’s important because when buyers look to buy again, they’re more likely to go to the seller they already know. That name they know might not be yours.
2. Use creative that drives to your website
This one is a bit tricky and will take some experimentation. The right creative may drive to a website, or it may drive to your Marketplace listing. You may have greater success linking to your listing, instead of your website. The reason for this is that you’re likely to have more visibility and interaction on the listing itself than your website.
3. Don’t price on feature alone
On Facebook Marketplace, pricing your product on feature alone will likely backfire. Instead, consider adding some value to your price. For example, if you’re selling a pair of sunglasses that you consider a $50 product, consider adding a small cloth or case for an additional $5.
Keep in mind, these items are small and can be purchased at a discount online. While you’re adding value, you’re also raising your price. You may even consider lowering your price, but not too much. One or two dollars is a small amount to increase your profit.
4. Be aware of shipping costs
Shipping can be tricky on Facebook Marketplace. It can be difficult to get an accurate shipping price at first. Treat shipping costs like any other expense when setting a price. Your shipping costs are going to increase as your volume increases.
In the beginning, you may want to price your shipping higher than normal and make adjustments as you go. Some solutions include shipping from a different location or using a delivery service like UPS or FedEx.
5. Grow your audience and let it serve you in other ways
Facebook Marketplace is designed for small businesses to sell directly to customers. The platform doesn’t have many of the features that larger businesses use for customer acquisition. You’re likely limited to using your page, boosting individual posts, and running ads.
When you’re just starting out, you may want to let your audience serve you in other ways. Posting your product on your page, your friends’ pages, and groups will spread your product around Facebook.
Also read: The Ins and Outs of Selling on Facebook Marketplace
Your audience may also like, comment on, or share those posts. Those interactions are helpful in acquiring new followers. Boosting posts on your page and targeting your friends may also help you get the ball rolling.
6. Be selective with your targeting
When you’re targeting your Facebook Marketplace ads, it’s important to be selective with your targeting. You don’t want to be too broad, or you’ll be competing with too many other sellers.
You also don’t want to be too narrow, or you won’t get enough sales. Facebook recommends that you select a maximum of 5% to 10% of your total audience to target. Consider the type of product you’re selling, your profit margins, and how competitive your ad is. Marketplace is more competitive than standard Facebook ads.
7. Don’t be afraid of testing and tracking
With all of the changes that Facebook introduces in their algorithm, you may find that your ads aren’t working. That’s normal. What isn’t normal is to stop everything and give up. Instead, you should make changes and keep trying. If your ads aren’t working, consider testing different audiences, copy, or product types.
You also want to consider tracking your ad performance to determine what is and isn’t working. Facebook offers a lot of tracking, but it’s up to you to use it.
- You can use the Audience Insights feature to see what demographics are engaging with your page, ads, and posts.
- You can use the Facebook Ads Manager to track impressions, clicks, and conversion rates.
- You can also use Google Analytics to track your website traffic and conversions.
When selling on Facebook Marketplace, you want to be as visible as possible. This includes not only increasing your engagement but also making sure your ads are as visible as they can be. These five tips will help you to be a successful seller on Facebook Marketplace and help your business grow.