Wow. Just one day of the worst stock tumble in history, and everyone’s predicting doomsday for Facebook. Yes, the stock price plunge comes on the heels of one of the worst security breaches in history, the Facebook Cambridge Analytica fiasco. It also follows two high-profile defections of much of FB’s younger demographic for hipper social media like Snapchat and Instagram.
Still, we think the predictions of FBs demise may still be a little premature. First, the platform still has 2.23 Billion monthly active users as of the second quarter of 2018. Or twice the number of just six years ago.
But one of the main reasons that we see FB sticking around doesn’t have as much to do with their active users as it does with what those users can do on the platform.
Facebook Marketplace Reborn
While most of us use Facebook to keep in touch with family and friends, you may have stumbled upon Facebook Marketplace recently. It’s a place on FB where new and used items can be posted for sale by people and companies in your area.
If Marketplace sounds familiar, but you don’t quite remember it, you’re spot on. It was originally launched in 2007, but shut down in 2014. After being relaunched in late 2016, Marketplace has become a popular destination for individuals buying and selling their things. But it hasn’t lived up to its promise for retailers.
New Support for Local Business Content
In late 2017, FB added new features to help local businesses take more advantage of Marketplace. These include the ability to list available jobs, daily deals, tickets and virtual shops.
Marketplace is also more open to integrations with other platforms. For example, Shopify owners will be able to push their products onto Marketplace directly instead of setting them up separately.
What Facebook Marketplace Means for Ecommerce Retailers
Let’s use a simple bricks and mortar analogy to underline how FB Marketplace can boost your ecommerce sales. Your ecommerce site on the web is like having a bricks and mortar storefront. Putting your products on FB Marketplace is like opening an outlet in one of he biggest shopping malls around.
And that’s just the first of many benefits you can realize.
A Higher Online Profile
Marketplace helps you instantly make it easier for more people to find you.
Improve the ‘Trust Factor’
If you use other online marketplaces, like Craigslist, you may have a problem. On many of those platforms, there’s always the question of trust. Is this business legitimate? But FB Marketplace gives you instant credibility by listing the company’s name, your location and the opportunity to message the owner.
Easier to Find Out What Sells Best
You can see what are the most popular items in your sector on FB Marketplace. So you can tailor your listings to suit. And you can use split-testing to optimize your listings for increased sales.
You know how fickle online buyers can be. People might be very interested in your product, even add something to their cart, yet still bolt off when they get an email. You need a follow-up strategy to help reduce abandoned sales. FB Marketplace lets you automate follow-ups.
Facebook Marketplace may not be the perfect fit for your ecommerce business. But if you have stayed away from it based on its previous iteration, it’s definitely worth another look. And if it does boost your business, contact us here at PiVAL – your leading third-party logistics company. We’ll help with warehousing, fulfillment and delivery of all those extra orders!