Facebook has been making a lot of changes to its platforms lately. It is no longer just about connecting friends but now aims to connect the world through various services and apps. The latest addition to that list is Facebook Marketplace.
It functions like an online flea market where users can buy and sell secondhand goods by posting them on this platform. If you are thinking of selling your used items or new products on Facebook Marketplace, here’s what you need to know.
How profitable it is? What are the pros and cons of using this platform? Do read on to find out more details in this article.
When Facebook launched their new standalone app called Marketplace in September last year, many businesses were cautious about it. After all, selling directly to customers can be a bit scary and require a lot of trust.
However, the new app has been gaining traction in the past few months and many businesses have given it a try. If you’re one of them, this blog post is for you! In this blog post, we’ll talk about how profitable selling on Facebook Marketplace is for small businesses.
What is Facebook Marketplace?
Facebook Marketplace is a new standalone app where people can buy and sell new and used items with people nearby. People can browse through a selection of items for sale near them, then contact the seller directly to make a deal.
Facebook Marketplace makes it easy to sell items online by allowing users to reach more potential customers and get paid quickly through their Facebook account.
With Facebook Marketplace, you can make money by selling your items and also buy items conveniently. This app allows you to reach a wider audience and increase visibility of your items by targeting a specific audience. It also allows you to make transactions more securely and quickly.
The app is available in certain countries and allows people to offer items for sale in their local currency. Facebook Marketplace also allows sellers to create a business page to attract a wider customer base.
The business page allows sellers to create a professional image, highlight their business hours, provide a detailed description of their products, and add more images. Sellers can also connect their Facebook Marketplace business page with their Facebook profile. This allows them to promote their products and services to their friends and followers on Facebook for free.
How to use Facebook marketplace
If you want to sell on Marketplace, you first need to create a business page and start a new listing. Then you can begin adding photos and details about your products. Once you publish your listing, buyers can see it on Facebook and other apps where Marketplace is available.
Make sure you create a good listing with beautiful images and a detailed description so that people can know about your products and buy from you. You should also respond to customer queries in a timely manner so that you can build a positive reputation.
If you want to buy items on Marketplace, you can browse through the app and look for products that fit your needs. You can contact the seller directly and make a deal. Facebook Marketplace makes it easy to buy items online because you can see their details and contact the seller directly with one click.
Things to know before selling on Facebook Marketplace
Before you start selling on Marketplace, you should know a few things. First, you have to have a business account to sell on Facebook Marketplace. If you don’t have a business account, you can create one.
However, to create a business account, you will have to provide your address, phone number, and some other details like your annual earnings. Once done, it will take a few days for your account to be approved.
Second, Facebook Marketplace is a great place to sell your items. It allows you to target customers who are in your area and allows them to buy your items quickly and easily. However, it can be difficult to build trust with customers because they might not know much about you.
So before you start selling on Facebook Marketplace, make sure you take a few simple steps. For example, make sure you have a professional image on your business page, create a detailed product description, and respond to customer queries in a timely manner.
Is Selling on Facebook Marketplace profitable?
Based on different marketplaces, the average profit margin for eCommerce is 20% – 25%. Some of the gross profit could be used for marketing and branding activities. So, the net profit margin could be below 10%.
Because Facebook has a huge user base, it can be a great place for you to make profit. And the good news is that Facebook Marketplace makes it easy for you to make profit and sell your items online. Here are 3 reasons why Facebook Marketplace is profitable for businesses.
How is selling on Facebook Marketplace different from selling on Facebook?
If you are already selling on Facebook and want to start selling on Facebook Marketplace, here are a few things you should know. First, you can use everything on your Facebook profile to promote your business.
So, instead of creating a new business page, you should simply add more info about yourself and your products on your Facebook profile. Second, you can use Facebook’s powerful targeting feature to reach more customers and make more sales.
For example, if you are a bakery and want to reach a nearby neighborhood, you can select the target area and Facebook will include your posts in the news feed of people who live in that area. This makes it easier for you to reach your customers and increase sales.
Selling on facebook marketplace will require you to have access to the facebook marketplace platform. Yes, if you are eligible to use facebook marketplace, you will see the feature on your facebook newsfeed.
If on the other hand, the feature is not available on your facebook, you will need to update your facebook app to the latest version and then check it again.
Selling on Facebook marketplace and selling on Facebook are two different things. While both are Facebook-related activities, they are different in a few ways. Firstly, when you’re selling on Facebook marketplace, you’re dealing with a completely different audience than you would on Facebook.
When you’re selling on Facebook, you’re dealing with your friends and family. When you’re selling on Facebook marketplace, you’re dealing with random people who you don’t know. Another difference between selling on Facebook marketplace and Facebook is that you have to respond to customer service issues.
When you’re selling on Facebook, you can ignore customer service issues since you don’t have any control over them. When you’re selling on Facebook marketplace, you have to respond to customer service issues since you’re directly dealing with your buyers.
How much does it cost to sell on Facebook Marketplace?
Facebook doesn’t charge for selling items, but there are a few things you should keep in mind. You can’t offer coupons or discounts or make profit from the sale. You can’t sell illegal items or stolen goods. You can’t sell items that violate Facebook’s policies. You can’t offer payment by gift cards or other Facebook-related products.
You can also not sell items if you are a minor. However, Facebook doesn’t check if you are following their policies or not. So, you can select to sell your items on Facebook Marketplace.
And you can keep 100% of the profit. But if a customer complains that your product is bad or doesn’t work, Facebook will ask you to refund them. Facebook charges a fee when a customer initiates a refund. This fee could be between 3% and 25% of the item’s value.
Some persons are of the opinion that it all depends on the type of business you’re running and the items you’re selling. If you’re selling one or two items, it won’t cost you much. However, if you’re selling a lot of items, it will definitely cost you a few bucks. You have to pay Facebook a certain amount for every item you sell.
The amount you have to pay Facebook varies on the category of your item and the number of items you’re selling. Another thing you have to keep in mind is that Facebook marketplace charges a fee when you make money.
When a buyer makes a payment to you, they have to go through Facebook. Facebook then deducts a small amount from the payment and transfers the rest to you.
However, those are not true. It is important to note here that facebook marketplace charges 5% for shipment.
4 Tips to Make Your Facebook Marketplace Business Successful
As mentioned above, Facebook Marketplace is a great place for businesses to build their brand, grow their customer base, and make more money. With a few simple steps, you can transform your Facebook Marketplace business into a success. Here are 4 tips to make your Facebook Marketplace business successful.
- Build your brand – This is the first and most important step towards making your Facebook Marketplace business successful. Before you start selling on Marketplace, make sure you have a professional image on your business page, create a detailed product description, and respond to customer queries in a timely manner.
- Offer free shipping – Providing free shipping is one of the easiest ways to increase sales. Once you sell an item, the cost of shipping is fixed. And selling an item at a higher price with free shipping can be more profitable than selling it at a lower price with shipping costs included.
- Target your audience – One of the best ways to make your Facebook Marketplace business successful is to target your audience. Facebook allows you to target a specific audience based on their location, age, interests, and other details. So, you can increase the visibility of your products and make more sales.
- Build relationships – Another great way to make your Facebook Marketplace business successful is to build relationships with your customers. Make sure you respond to customer queries in a timely manner and provide excellent customer service. You can also offer discounts or free shipping when a customer places a larger order.
Aside from the above, there are a few things you can do to make your Facebook marketplace business successful.
First, you need to research your competition. Find out what items your competition is selling and how much is it selling for. This will help you decide on the price of your items and what to sell.
Another important thing is to be detailed with your description. You have to describe your items as clearly as possible so that potential buyers know what they’re buying. Be authentic and honest with your buyers. You have to be genuine with them and make sure that you deliver the products you promise them.
Another important thing is to engage with your buyers. Once you receive payment from a buyer, you should thank them and make them feel special. This will help you retain customers and make them come back to you again.
Why is Facebook Marketplace profitable for businesses?
As mentioned above, Facebook Marketplace is a great place for businesses to make more money. Here are 3 reasons why Facebook Marketplace is profitable for businesses.
- Easy to sell – Unlike eCommerce sites like Amazon and eBay, you don’t need to invest in hosting a website or marketing your products. You can sell your products on Facebook Marketplace without any website or marketing.
- Great for local businesses – If you run a local business, you can use Facebook Marketplace to sell your products. You can target customers who are in your area and make more sales.
- Easy to use – Facebook Marketplace is easy to use and makes it simple for you to make money by selling items online. It allows you to select a specific audience so that you can reach more customers and make more sales.
Is Selling on Facebook Marketplace worth it?
That depends on you and how hard you are willing to work. If you are willing to put in the effort and make your Facebook marketplace business successful, then it will be worth it. It’s no different from any other business.
If you want to make money with your business, you have to work hard and put in the effort. With that said, if you think Facebook Marketplace can help you make money and you’re willing to put in the effort, then it’s definitely worth it.
Selling on Facebook Marketplace can be profitable, but you have to make sure you follow these tips to make your business a success. If you are already selling on Facebook and want to start selling on Facebook Marketplace, make sure you use everything on your Facebook profile to promote your business.
If you want to start selling on Facebook Marketplace, make sure you have a professional image on your business page, and create a detailed product description.
Selling on Facebook Marketplace
Here are the steps you need to follow to start selling on Facebook marketplace:
- First off, you will need to login your facebook account
- Next, go to your facebook newsfeed
- From your Facebook Feed, locate and click Marketplace in the left menu.
- Once taken to the facebook marketplace, locate and click Create new listing and then click Item for sale.
- Now, click Add photos to upload a photo of your item from your computer.
- Enter the info about your item. To mark an item as Free, you can enter 0 as the price.
- Click Next. If Next is grayed out, make sure you’ve entered the information that’s required.
- Lastly, click Publish to post your Marketplace listing.