Facebook is a buzz with nearly one billion people. This is why it is one of the best marketplaces in the world. Advertisers, retailers, mega-corporate companies and entrepreneurs all take advantage of this fact.
In doing so, they are able to sell their products to consumers from all over the world, without any limitations.
It is a far better alternative than radio or television, which is just tapping into a select market, country or consumer base.
With Facebook Marketplace, your prospective income or return on investment is almost limitless.
What is the Facebook Marketplace?
This marketplace is similar to eBay and Craigslist, without a lot of the features.
Already over 500 million people browse through items for sale on Facebook. So the social media giant has taken advantage of those metrics to make it easier for their users, and to monopolize on this situation.
This Facebook Marketplace feature was fully released in May 2017, after its initial release in 2016.
According to Facebook’s post, “You can use Marketplace to list what you have and what you want within your group of friends, networks, or other networks. Beyond its use for classified listings, you can use Marketplace to get a sense of everything available or desired within your networks.”
Within reason, you are permitted to list just about anything on the site. This can include cars, electronics, furniture, houses for rent or for sale. You post jobs, books and DVDs.
You can make a listing of your goods or services. Then, it is very simple to track your connections to other people site.
An important note, especially with Mark Zuckerberg’s “Russia-Gate” privacy incident of the last year, you can monitor and stipulate your own privacy settings.
Advantages about Facebook Marketplace
One of the greatest benefits of using this Marketplace is that it is free of charge.
Facebook Marketplace won’t charge you to buy or sell, using their platform. Even though we are waiting with bated breath for this to change, it is a great feature in the present moment.
Next, anyone within a 100-mile radius will see your items.
There is the option to expand or reduce these settings. But from the beginning, you have a good foundation to begin selling your stuff.
Also, the process to post up your item is uncomplicated.
You don’t have to worry about being a computer programmer to figure out how to sell and buy in the Facebook marketplace. It is a very intuitive process. Whether you are on your computer or using the Facebook app, you can take a picture, write up the product description information including the price.
Then you are required to select a category and stipulate your location.
Don’t forget, it consolidates the information and lets you share the product with Facebook groups as well. So long as you are a member, you can post your ‘for sale’ item very simply.
Facebook marketplace also has a good filter system. This allows you to get very specific about what you want. For example, you can narrow down the price, location and type of item that you are looking for, on the site.
Disadvantages about Facebook Marketplace
Right now, this system is specifically available to Facebook users in the United States, United Kingdom, Australia and New Zealand.
This completely rules out many potential customers. But on the other hand, you have a better control on shipping costs.
In addition, you can only access it if you are using an iOS and Android phone. Hopefully, the social media giant will release more updates in the future.
One of which was making the marketplace available via a web browser.
Prepare to have your Facebook username and profile exposed when you sell or buy an item in the Marketplace. There is no way to create an alias to do so.
Some may consider this an advantage because you can best trace the identity of the person selling the item or providing the service.
Buyer protection is not available on Facebook Marketplace.
This is of great concern to many people. That is why it is encouraged for sellers to use actual pictures of the item they are selling.
Also, it is without the much-loved bidding system that you might be used to on eBay. So the process is not transparent. You don’t know if there is another buyer and you cannot adjust your price to compete unless the buyer requests it.
Finally, there is no section for you to provide feedback.
How to Take Advantage of Facebook Marketplace
You want to use the best strategies possible to maximize your presence and income from using Facebook Marketplace. And over the years, this platform has added incremental updates to make it just as competitive as eBay and Craigslist.
So, in order to have a great experience of being a seller on Facebook Marketplace, here are some tips.
- Use great pictures
- Price high and negotiate
- Post each item by themselves
- Create a professional profile
- Sell the item
Use Great Pictures in the Marketplace
We all know that images carry you the extra mile, but a bad image can quickly turn off a potential buyer.
Make certain that you use two or more images that show the product in different ways. If there are different parts of the product, show them as well.
In terms of a property listing, while not disclosing too many personal details, show more than just the front yard and backyard. Renters and potential homeowners are interested in seeing each room. But give just enough to tease their interests.
- Exclude any unnecessary clutter
- Use proper lighting
- Make sure the item is clean and presentable
- All of the items must be showing in the shot
- Use 3 or more original pictures, of that item
Price High and Negotiate
While you don’t want to give an unfairly high price, you do want to get the best price possible for your item.
So give your item a little wiggle room for negotiations, which will carry the price tag lower. After all, you don’t want to be left with the item in the shop for an extended period. So be flexible and be prepared to negotiate.
Hopefully, you can adjust to some of the offers as they come in via the “Make Offer” button.
Post Each Item by Themselves
Don’t bundle a bunch of items together. You could exclude some potential buyers that way.
List each item separately because the process is not tedious and it makes better sense for both yourself and the buyer. If anything, a buyer will possibly request a price reduction if they really want more than one items.
You don’t want to force anyone to buy something, which your buyer does not need. And why should they? When they can simply swipe to someone else who will give them exactly what they want at a lower price.
Create a Professional Facebook Profile
Even though there is no price protection or buyer protection on the new Facebook Marketplace, as it is on eBay, buyers can go to your profile page. In doing so, they can get a lot of details about a buyer.
So, to make them more interested, create a professional page. Or simply update your current profile with relevant information that attracts and reassures buyers.
Sell the Item Quickly
After you have posted the item and a potential buyer contacts you, then it is game on.
Do your best to get the item sold.
The buyer is able to contact you via Facebook Messenger. Communicate professionally, and provide as much detail as possible. Answer any query clearly and do your best to allay any of the person’s fears.
Work out logistics and be accommodating if you can, within reason, of course.
Marketing to a Global Marketplace via Facebook
The advantages of using this platform are superb. It is a game changer in the marketing world. You have a greater advantage of reaching prospective clients than you ever had before.
With its present features, you can shop by category, which includes home and garden, housing, entertainment, clothing and accessories, family, hobbies, vehicles and classifieds.
Also, you can browse items by groups, buying, selling and even view your saved items.
In addition, you are able to market closely to people who know you and can even seek referrals from your closest friends and family members. Not to mention, there is no middleman to consider. It is direct to consumer supply chain, without having to syphon off a percentage to someone else.
Unlike some marketplaces, you can post an item for free. This is great for people who are renovating and need a free service for clearing out their driveway.
But, navigate safely. Initially, some sellers launched early with their fraudulent activity. Do your checks and if you are not comfortable, take your business elsewhere. You are able to market your product to millions of people, depending on your geographical settings.