As of the third quarter of 2017, Facebook had 2.07 billion monthly active users.
How many are in your community?
Today Facebook is the most popular go to for everything. From your Facebook homepage on the left side bar under explore. There you will find things from Fundraisers to job search to movie choices to crisis response. Facebook has become the everyday tool that we use in the form of a mobile app. It's information at the tip of our finger whenever there is something that we want to know.
I can't say for sure who came up with what first but I can say that there is a lot of commonalities in each of the social platforms out their. Such as live video, community based groups, direct messaging, & so on. The question is, "Are you taking advantage of these tools to engage with your prospects?"
Facebook Marketplace is another selling tool. Weather it is a tangible good or a service you offer the marketplace is where you should be. Just like a garden you have to plant the seeds, nurture it with water and care, & wait for the harvest. Marketing works on a similar philosophy.
"So what are you saying?"
Don't offer your products in just one place. The Marketplace is only one of many like Pinterest, Fivvr, Kajabi, Shopial, Yotpo, Chirpify, & more. Consult with a social media expert to see which platforms are best for your business.
Have you been to the Facebook Marketplace Community?
However, there’s been one thing missing for a long time.
A business could replicate almost every single important function. Except for running payments and transactions.
Thankfully, that’s all changed with the Facebook Marketplace.
Here’s what it is, how it works, and how marketers can use it to grow their businesses.
What Is Facebook Marketplace?
Facebook Marketplace is a literal marketplace. It’s an open exchange, where you can post stuff for sale or buy new and used items off people within your local area.
There has already been over 18 million new items in the Marketplace, ranging from cars to video games to rental houses to clothes.
The premise is super simple. And the buying experience is, too. When you find something of interest, just click to message the seller and you can work it out from there.
Each item might have a few pictures and a short description. But otherwise, it’s up to you and the seller (or buyer) to figure out the transaction details.
View it on your mobile device as you see below!
How To Use Facebook Marketplace For Business
Here’s how your business can take advantage of Facebook Marketplace and capitalize on it — before the competition catches on.
Increase awareness & ‘discoverability’
Trick question: What is the easiest way for new businesses to increase sales?
It has nothing to do with closing methods. It has nothing to do with a green button vs. a blue one on your landing page. Instead, it has everything to do with branding.
Increasing brand awareness is the fastest, easiest way to increase sales. Because people won’t buy if they don’t know or trust you (more on this in the next section).
That means you need to increase the number of people who know who you are. You need more people to recognize your name.
And you need to make it easy for them to discover you when they’ve never heard of you before.
Facebook Marketplace is an excellent place to do just that. Don’t take my word for it, though. Take AdWeek’s:
“Facebook added that the buying and selling experiences triggered by Marketplace have led to a growth of 77 percent in users who may not have otherwise connected.”
You know what that means?
The Marketplace gives you an easy way to almost double the number of interactions you have with potential customers right now.
Build trust prior to purchase
What’s the worst part about buying something off Craigslist?
It’s that nagging question in the back of your mind. “Is this person legit?”
Trust makes all the difference in a transaction. It’s literally the difference between a sale and a pass.
That’s why people look for known brand names when deciding to purchase — even over price.
Most of Facebook Marketplace sales will come through an individual’s profile. Believe it or not, that’s a good thing.
It helps people see exactly who they’re doing business with. It helps them answer that nagging question without ever having to call you or step foot in your store.
Google calls this the Zero Moment of Truth. It’s the proactive research phase that consumers will check out before starting the buying process.
Facebook’s relative transparency aligns with how consumers are already shopping today.
Now, compare that to a place like Craigslist, which uses fake ‘no reply’ email addresses and often doesn’t even give you ANY seller information up front.
There is no comparison.
Conduct market research to see what sells
So far, you just want people to know your name. You want to get them into your store.
How would you do this with ads?
You’d probably pick a few different products and see which gets the most attention.
You figure out which products are in the most demand. Then, after you have their attention and trust, you can sell them anything.
The trick is to figure how to get their attention. Or more specifically, which products get the most eyeballs.
Test sales sequences for automating follow-up
Two stats illuminate the difference between top-selling companies and everyone else.
80% of sales require five+ follow-ups, and yet 44% give up after a single attempt.
Sell more products
The entire goal of Facebook Marketplace is to sell products.
You post products. People click and buy.
However, it’s not always that simple in reality.
And a one-off product sale won’t scale your business. You need to sell dozens of products. Maybe even hundreds to make a dent.
That’s why so much time needs to be spent on the first four steps. The only way you’re going to sell dozens or hundreds of products is if you have thousands of people looking.
How, exactly, do you do that? Especially if you have expensive items?
You start with a tripwire.
You first get people to commit for free or a single dollar. The barrier to entry is incredibly low. There is almost zero risk on behalf of the buyer.
Then, once you have them, you slowly but surely work them up to your more expensive stuff.
Still need assistance?