Marketing professionals look at Facebook as a funnel platform solely. While for the general public is just a means of staying connected with friends and family. Perhaps, if you flip that perception by exerting a growth mindset and digging into the platform you will look at it differently. Indeed, Facebook Marketplace is bigger than Amazon and has been growing steadily.
What is Facebook Marketplace?
Facebook Marketplace is a Facebook user-to-user exchange for buying and selling goods with others in your community. Any active member on Facebook can list a product and start immediately selling it.
What is the safest way to pay on Facebook marketplace?
Generally, trust is a major concern when you are conducting financial transaction on facebook marketplace. That is because, you are basically paying a seller who in many cases do not have any physical locations. Thus, if you choose to pay by electronic payment before picking up your item chance are you run the risk of not receiving your item.
Hence follow these basic steps:
- Meet the seller at the agreed location preferably public
- Inspect the item
- Make the instant payment for item if you are satisfied with the condition
However, Facebook recently launch a Purchase Protection Policies that covered eligible purchases made on Facebook Marketplace.
Are you covered on Facebook marketplace?
Facebook covers eligibilble purchase through Facebook checkout. In some cases, you can even request for a complete refund if you never receive the item. The purchase protection is free.
Is Marketplace free on Facebook?
The marketplace is platform that connects any vendors with potential buyers. You can practically reach out to any members. The option is absolutely free.
Does it cost money to sell on Facebook Marketplace?
Comparatively, to many online marketplaces, this option is absolutely free and open to any Facebook members that wish to sell any approved product within Facebook guidelines. You can sell used goods as well as new items.
Is it safe to sell on Facebook Marketplace?
Buying and selling on any direct user-to-user platform contain certain risks. However, if you follow safety rules, exercise caution, and remain alert things should be fine. Consequently, follow these simple rules:
- Never give up your personal details such as working hours, full contact information, complete name, personal habits or any financial information.
- Always make the exchange at a public place
- Always go with a buddy to close the transaction
- Inform the police if the transaction is at home such as a garage sales
Who pays for delivery on Facebook Marketplace?
Take advantage of the latest iteraction and improvement that give you as a buyer the option of receiving your item directly at your address. Generally, the seller pays for the delivery fee plus a percentage fee of the total cost.
How Shipping Works As a Facebook Marketplace Seller
Shipping can be added once you decide to provide your customers with the option of doing Facebook online checkout. Nonetheless, if you sell over $599 per year on Facebook, you’ll also have to give your social security number or employer identification number (EIN) for Tax reporting.
Usually, the shipping price is based on the item weight and size. Moreover, you can edit to add your own cost or you can simply decide to offer free shipping.
Generally, you have three business days to ship any order. notwithstanding, to receive your payment, you will need to add the tracking information to your listing and mark it as shipped. As a seller you should typically expect a selling fee of 5% with a $0.40 minimum per order for shipped purchases.
Facebook Marketplace how to sell:
Facebook Marketplace has more than 800 Million monthly active users in 70 countries. They browse, share, like, comment, sell, and buy. All those interactions, provide discovery opportunities for retailers. That is approximately 3 times bigger than Amazon. In addition, more than 70% of all users have the intention to buy. Yes, it is all about the buying intention, the same purpose that drives people to the Amazon marketplace. That is because an effort has been made by the Facebook design team to make the space more appealing and easy to use. You can find pretty much anything you need from furniture to produce. Plus access to the marketplace is effortless. Even though it does not have a payment gateway or a fulfillment center. Nevertheless, it is growing extremely fast.
Go deep: How To Make Money Online: Facebook Marketplace
There is no listing fee
Facebook marketplace, unlike other platforms, has no set listing fees for now. However, you have to respect certain guidelines. Also, your listing is only visible to people who are members of the same groups as you. But, you are limited to a certain number of groups. If you wish to go further, you will need to pay for advertisements. One of the coolest features is your ability to refine your posting to a specific target group.
Any person or brand can sell
But not all e-commerce platforms are synced with Facebook Marketplace. As an illustration here are some e-commerce websites that are offering the feature: BigCommerce, Channel advisor, Shopify,3dcart, commerce hub, Magento, Squarespace, and WooCommerce. Nevertheless, you can also activate the shop setting on your Facebook page. Then, join the Facebook marketplace, where you can drive traffic to your products
However, if you are an individual seller you can list your product directly, set the price, and start selling. Look on the left of your feed and you will find Facebook Marketplace. You can instantly push your listed product in some groups for free without ads. It is extremely simple, you can basically list any product and connect directly with potential buyers.
The platform is built around trust. As soon as you see a product that you are interested in. You can instantly check the vendor’s profile to have a better understanding of the vendor. Certainly, it is not enough but the social media platform feature is evolving
Because it is fairly new for consumers, you will have to exert patient, develop a strong communication strategy, and build trust. Be professional, educate your customers, and be very responsive. Develop a very strong customer-oriented concept that goes from listing to delivery. Further, the faster you ship, the better you will resonate within your market. Adjust your pricing to include shipping, pick up, or delivery. Nevertheless, the feature has this interesting aspect every transaction is concluded cash and there are no returns. Meet your customer, let your customer sees the product then conclude the transaction. Yet, if your product is set to be recurring, you are off for a good start. Be patient as people will definitely try to scare you or to push you away. Be consistent with your brand and your business. Also, deliver receipts to your customers and be on time. That will instantly solidify your brand.
For safety reasons, sales for the first time should be concluded in a public place. Then once you have secured your deal and built enough trust with your customers. You can provide delivery instead.
Next: Facebook Marketplace
Be prepared to do more
Unlike the other platforms that offer an integrated experience (listing, inventory management, shipping, etc..) Facebook marketplace doesn’t for now. consequently, you will have to do most of the work. Nevertheless, you can integrate your listing with nearby fulfillment centers. This is particularly true if you have people interested in your products all over the country. Also, for a start build your brand around your neighborhood, city, and community before expanding. You can deliver yourself and create a personal relationship with the buyer. I find it more interesting. I believe space is designed for people to create a local impact within their community first. Then you can scale. More, you and your team will have to handle order fulfillment, and customer relationship.
The market potential on Facebook is extremely impressive. Indeed, nothing comes close. It provides an excellent opportunity for people to make money online. If you build a great strategy and with excellent mining tactics you can focus your entire marketing and sales strategy on the entire Facebook platform. Revenue is immediate and the potential for growth is immense. Especially, as Facebook is rolling out more features to boost the entire platform towards providing more opportunities to its members. There is no limitation on what you can sell. In addition, the reach is tremendous. Also, if you integrate Facebook-related WhatsApp and Instagram the potential is phenomenal.
You can basically manage everything on the platform, you don’t need to set up a website, or chatbot, just your individual page will do. Once there is a person interested in your product, the person will contact you via Facebook messenger. The return on investment per ads budget spend again depending on the product or service you sell is extremely high. Further, the fact that there is no return policy, you can expect to make a pretty decent income. Nonetheless, it can be extremely overwhelming and confusing.
Nonetheless, if you choose to ship your products, probably you will want to insert a return policy.