As of the first quarter of 2021, Facebook had roughly 2.85 billion monthly active users, making it the biggest social network worldwide. Back in 2007, the social media giant expanded its territories by launching its answer to Craigslist, Facebook Marketplace. The platform initially gained little traction. Following a rebrand, a new version was launched in 2016. Since then, the platform has become a popular online hub for discovering, purchasing, and selling products around the world.
Facebook Marketplace best bits
Here are some of the platform’s features:
- Over 800 million users every month
- Free to sell
- In-built audience
- No need for a website or maintenance
The information above shows just what a powerful platform Facebook Marketplace is. But, what does this mean for marketers?
Well, it goes without saying that we should be communicating with consumers where, when and how they prefer. Engaging with your audience on platforms they are already active on will naturally boost engagement. Facebook Marketplace already comes with an inbuilt, engaged audience. It really is a no-brainer for both b2c and b2b marketers.
Facebook Marketplace use cases
Here’s how marketers can harness the power of this fast growing digital marketplace and implement it into their strategy:
Ad placements in Facebook Marketplace just make sense. The ability to reach the right consumers at just the right time works. Facebook’s vast audience insights and hyper-targeting algorithms makes this possible. Think about it, a customer is browsing for a product with the intent to buy and in comes a targeted ad of the same product that delivers real value. The conversion rate suddenly becomes very high.
Optimised product listings
Facebook Marketplace allows users to list their products free of charge. Additionally it takes just a few minutes to upload your listing with up to 10 images. Listings can be SEO-optimised, include video format and can be tailored to local buyers. The opportunity here is huge!
Real-time customer support
Facebook Marketplace allows for customer support in real time. So, you are able to respond and solve customer queries, instantly. In today’s consumer-led market where those who are quick to respond get business, using this channel to provide efficient customer support and boost user experience will yield results.
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