Remember the days of meeting up with random strangers from Craigslist to buy goods without having any clue about who they were coming from? Those times are soon to be gone with the launch of the Facebook Marketplace. With over 450 million people already visiting buy-sell-trade groups on Facebook, the creation of the Facebook Marketplace is a no brainer.
Prior to Facebook Marketplace, individuals were predominately using Craigslist and buy-sell-trade groups on Facebook to find local goods to purchase. The main problem with Craigslist is that it is impossible to know who you are buying from. There have been countless stories of individuals being ripped off and even robbed from Craigslist sellers. Facebook took this issue and decided to change the game.
When using Facebook Marketplace, you know exactly who is selling your desired product. The marketplace is hooked up to an individual’s Facebook profile. This allows you to get a feeling of what the other person is about before deciding to engage in a business transaction. Users can also filter by location, category and price to find exactly what they are looking for. What the feature lacks is a rating system, just like Amazon of Ebay uses, to find out whether the seller has products that truly fit their description, and what they are like as a seller.
The implementation of Facebook Marketplace is genius. On average, people spend about 50 minutes per day on Facebook. This new feature is a simple tap away within the program. The overall convenience makes it all that more appealing to users. There are similar start-up companies such as LetGo, Wallapop and Close5 who will be in competition with Facebook Marketplace. The obvious advantage Facebook has is their 1.17 billion active users. Facebook will also take action on those abusing the service. They are not afraid to remove listings or ban users altogether.
After they build upon the marketplace, it is more than likely that Facebook will integrate news feed ads or sponsored placement within this experience. They may also allow local businesses to sell their products as well. This is when a Facebook marketing agency such as Bright Age can help you to create the most effective content for your business.