2022 Business Guide to Selling on Facebook Marketplace and 4 Tips for Success
10 minute read
In 2020 alone, retail eCommerce sales around the globe amounted to a grand total of almost $4.3 trillion. In addition, experts made projections that the growth would continue to even more than $5 trillion in 2022.
Some would argue that the COVID-19 pandemic didn’t change eCommerce but rather sped up its growth. The pandemic boosted the growth of eCommerce and social commerce.
Facebook recognized the power of social commerce long before the pandemic and launched the Facebook Marketplace feature. Facebook Marketplace is a social commerce platform that gathers millions of vendors worldwide.
This article guides you through on what Facebook Marketplace is, how to sell your products on Facebook Marketplace and 4 tips for success in this business.
Overview:
Why Facebook Marketplace
For people who wish to sell or trade things online, Facebook Marketplace is the ideal social media platform. You may sell your products directly to others by going to Facebook Marketplace.
Every day, millions of people use Facebook, making Facebook Marketplace a seller’s dream come true.
You can simply contact hundreds of potential buyers nearby who could be interested in your products using Facebook and its integrated targeting system. Furthermore, Facebook users may more easily search for your products based on their hobbies and location.
In 2018, Facebook released a press note that its marketplace would launch in Singapore. Surely enough, it did so on January 23 of that year.
Singapore, with four million monthly app users, is the third Asian country to introduce the service after Thailand and India.
Facebook Marketplace is ideal for retailers for a variety of reasons:
- It offers a personalized buying experience.
- Millions of people use it.
- It’s mobile-friendly.
- Communities you can join are numerous.
- You can easily discover nearby customers.
How to sell your products on Facebook Marketplace
If you’re interested in selling on Facebook Marketplace, take a look below. Here are some important steps you need to take to start selling.
Step 1: Register your account
Go to your Facebook app and log in. Sign up for an account if you don’t already have one. This account should ideally be linked to your company’s Facebook page. Click ‘Marketplace’ in the sidebar of your News Feed.
You’ll need to fill in some information so that you’re recognized as a real person. If you don’t have a profile photo and other basic identifying information on your account, people will be hesitant to buy from you. This is a crucial step that will increase your Marketplace trustworthiness.
Step 2: Create your product listing
Select the type of listing you want to create. Make sure your Facebook Marketplace listings follow Facebook’s Commerce Policies.
The following steps will focus on selling a single item. Regardless of which category you choose, the steps will be identical and straightforward.
You may add up to ten photographs of your product. Fill in the title, price, category, and condition of the product. The preview section will display how your listing will appear once it’s published.
Include a location tag as well so that potential buyers may search for your items based on their region and category. To make your item more searchable, add product tags and make your product description as thorough as possible.
Select ‘Next’ once you’ve entered all of the necessary information.
Step 3: Choose your delivery method and where to post your listing
Select your delivery method. For instance, if you’re selling video games, you can choose ‘Shipping and Local Pickup’ to target both local and overseas customers. Alternatively, you can select ‘Shipping Only’ or ‘Local Pickup Only.’
Shipping Labels are provided by Facebook and they make the shipping process easier, but you can select and create to print your own shipping label somewhere else.
Facebook will then show you what you can expect regarding the amount of money once you make the sale.
The final step is to decide where to list the product.
You can either only put it in the Marketplace or list it in both the Marketplace and local selling groups.
Pro tip: Find “buying/selling” groups in your neighborhood and join them! This is an excellent technique to increase the number of individuals that see your products.
Step 4: Time to publish
On Facebook Marketplace for Singapore, there are no in-app delivery or payment options. Buyers that are interested will contact you directly through Facebook Messenger to discuss delivery and payment options.
You can have them transfer you the money via bank transfer, PayNow, or PayLah once you’ve opted to make a sale.
After you decide where to sell your item, click “Publish.”
That’s it, your item is now available for purchase on Facebook! Expect to start receiving messages from potential purchasers now that your listing is live.
4 ways to boost your sales on Facebook Marketplace
Now that you have enough knowledge to set up your own vendor account and start listing your products, take a look at some proven ways that will help you boost your sales efforts from the beginning.
1: Boost your listings
The benefit of selling on Facebook Marketplace is that you may leverage in-app advertising techniques that have been developed. That’s why you need to use Facebook Ads Manager to better promote your products.
You can increase the visibility of your products on Facebook Marketplace by boosting them. Your ads will show with a ‘Sponsored’ label alongside other comparable products and services in the Facebook News Feed.
Go to “Your Listings” under “Your Account” on Marketplace. Click “Boost Listing” next to the listing you want to promote. Set your daily budget and raise length after that. Facebook will calculate your audience reach based on your budget, allowing you to make the most cost-effective selection possible.
2: Communicate with your buyers
This is where Facebook Messenger comes in handy. To make the most out of every interaction with a customer, you have to be active using the Messenger app.
As Facebook Messenger is the primary means of communication between you and your customers, ensure that your customer care experience is optimized while speaking with potential customers.
It’s understandable that you won’t be able to check your social media accounts at all times, but you shouldn’t leave them in the dark. The way you communicate using Facebook Messenger will determine how good you are at building your brand, customer service, and fostering better customer loyalty.
3. Aesthetics matter
Aesthetics matter a lot in the world of retail and that’s why your product images need to be clean and appealing.
Take the effort to ensure that your photographs are crisp, clear, and bright. Customers want to know exactly what they’re getting, so include high-quality photos shot from various angles, close-ups of cosmetic flaws, and lifestyle images showing the product in action.
Take photos in natural light and avoid editing too much. Also, keep in mind that every image needs to be high-resolution.
4. Separate your finances
Finally, make sure you never mix up your personal finances with your business finances. This allows for clarity and transparency, helping you keep track of your business finances.
One of the best ways to do this is to use the Sleek Business Account. The Sleek Business Account is a corporate account for your business that allows you to receive and send money right away. Learn more about the difference between personal and corporate accounts here.
Scaling your eCommerce business for growth
Even if your business is expanding on its own, there are many things you should be doing to keep up with it. If you fail to constantly work on growth, your business may lose the progress it has previously achieved.
Making the decision to scale your company is a major step and a huge responsibility. Don’t attempt to scale your company too early. Trying to scale your business before establishing a strong foundation is a common mistake.
Without the ability to maximize revenue, achieving a favorable return on investment can be extremely challenging. Learn how to scale your business here.
Wrap up
You’ll be hooked after selling your first product on Facebook. This user-friendly platform makes shopping easy for both customers and sellers. On top of that, Singapore and its great business environment make this option even more attractive for potential new business owners and entrepreneurs.
Want to start your eCommerce business today? Talk to us to get started, our expert team is ready to help you.
