Facebook has come a long way from its early days and is now the third most visited social networking site in the world. Facebook has 2.9 billion monthly active users and is growing at 7 percent a year. In addition to growing competition from several similar social networks, Facebook remains one of the most popular platforms for businesses, with more than 200 million using it.
Facebook is now allowing people and businesses to buy and sell on Facebook through its Facebook Marketplace. To enhance the buyer’s experience, Facebook recently announced a “Facebook Shop” and checkout on Facebook.
So how do you get the most out of it? You can find it out below.
What is Facebook Marketplace?
The marketplace was launched by Facebook in 2016 and quickly became a popular platform for selling goods to local buyers.
Facebook allows eligible sellers to offer nationwide shipping for certain categories of products, giving them a larger pool of customers than sellers who only sell locally.
How big is it? The potential Facebook Marketplace customer base is open to around 800 million users a month.
Since it began as a local buying and selling platform, people tend to think of the bazaar as a clearing house for used or unwanted household goods. But its transport capacity means it is also well suited to retail arbitrage – buying a product in demand from a retail store and reselling it online at a higher price.
If you’re unfamiliar with the market, take some time to look around and see what types of products are available. You can buy and sell almost anything you can imagine – from cars to sofas, video games, furniture, and more.
Who should sell products on Facebook Marketplace?
The short answer is Anyone! “Facebook Marketplace isn’t just for people who have extra stuff they want to get rid of”, said Natalie Warb, a financial and shopping expert from a US coupon site CouponBirds. “It’s also for entrepreneurs, e-commerce businesses, Amazon sellers, carpenters, craft artists, and brick-and-mortar stores”, she added.
In fact, there’s not much difference between Facebook’s seller strategy and that of other platforms like Amazon and eBay. Unlike other e-commerce or resale marketplaces, Facebook doesn’t charge you a fee to list your item if you sell it locally. If a customer places an order for delivery, Facebook only charges 5 percent of the sales price. For new and experienced e-commerce sellers, low costs make listing products on Facebook a no-brainer.
To help you attract more buyers and sell your items successfully, here are some selling tips and tricks for novice sellers.
- Explain why you’re selling them
As a seller, it is best that you clearly explain why you are selling an item (cleaning a room or changing the style) so that people understand that there is nothing wrong with selling the item (especially if the item is in good condition). Explain how you use it. Make it look like you used to inspire others at home!
- Price it rightly
A good seller compares the price of something he likes with the price of something he wants to sell. What are other people in the area selling it for? How does the condition of their belongings compare to yours? The reasonable rule is that if it’s a new product in good condition, it’s at least 50% less than the retail price, and if it’s not in good condition, then the price is even lower. The product has to be competitive or it won’t sell.
- Take great photos for your Facebook marketplace listing
The better the picture, the more likely it is to sell. People want to see it clearly and get an accurate color representation, and any damage (if any) should be clearly depicted in the photo. Also, consider showing the sides and back of the garment from multiple angles. The more they know in advance, the more likely they are to buy when they come to check it out.
- Be honest in your Facebook Marketplace listing
If there is a problem, speak up. If there is a watermark, bring it up. Include any status-related information, from “in perfect condition,” meaning brand new, to “a small wound the size of a paper clip in the bottom right corner.” Make sure to include measurements, the more the buyers know beforehand, the better.
- Be sure to include search tags
At the bottom of each listing form is a tag box. Here, you want to put anything that someone might type into the search box to find your listing. If it’s a dining table, you shall write “dining table,” “table,” “wood,” etc. If it’s vintage, write vintage, and other aspects of your item. It really helps to get people to see it looking for something similar, and increases your chances of making a quick sale.
- Respond quickly to relevant parties
If someone sends you a message asking, don’t make them wait for your response. Remember that buyers are more likely to move on to other products if they have to wait for more information.
- Negotiate in good faith
Decide on your floor price for an item and be flexible. You can price the item a little higher than your reserve price, and you might make or lose 15% more after negotiation. To sell your product successfully, you need more people to be interested in your pricing. They’re willing to make an offer, and you’re willing to negotiate. That’s how you get a deal unless they’re very rude.
- Always be courteous
Every time someone comments, even if they have a low opinion of your product, comment back and thank them for their interest. Every time you comment, your post will also be pushed to the top – just another “organic” way to keep your listing at the top of the group and gain more visibility within the listing.
These are 8 useful tips for selling items on Facebook. Remember to keep honest, realistic, and courteous, and chat with buyers in faith, which will definitely lead you to good results.