Business professionals look at Facebook as a funnel platform solely. 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. In this article, I will explain how you can leverage the platform for money-making.
How To Make Money Online: Facebook Marketplace
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 Amazon marketplace. That is because an effort has been made by 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 sync 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 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.
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 build 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 design for people to create a local impact within their community first. Then you can scale. More, you and your team will have to the work, from preparing the orders, building a solid customer relationship, to fulfilling them.
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.
Certainly, you will get a feel as soon as you start utilizing the site. If you are in the digital space this is definitely a channel to explore and develop
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