Everyone is familiar with Facebook as a platform for keeping up with loved ones, sharing photos, and finding interest-related organizations. But did you realize that you can use Facebook to start an online store and even sell goods there? All you need is a Facebook account that is current!
I’ll demonstrate how to sell on Facebook Marketplace in this tutorial, drawing on the tried-and-true methods I advise Amazon sellers to use.
Facebook Marketplace: What is it?
Facebook launched The Marketplace in 2016, and it rapidly gained popularity as a place for people to sell goods to nearby customers. Facebook Marketplace is a safer and easier-to-use tool to use when selling locally compared to Craigslist.
By enabling qualified vendors to provide nationwide shipping for goods in some categories, Facebook further differentiates itself from Craigslist and gives them access to a much larger customer base than local-only sellers.
What size? In fact, Facebook alone has 2.9 billion daily active users, with an estimated 1 billion people using the Marketplace each month.
People frequently imagine the Marketplace as a clearinghouse for people’s used or unwanted household items because of its beginnings as a neighborhood buy/sell platform. (which it certainly can be used as).
However, because of its shipping capabilities, it’s also excellent for retail arbitrage, which involves purchasing in-demand items from a physical shop and then reselling them online for a profit.
On the Facebook Marketplace, who should sell?
Anybody, to sum it up! The Facebook Marketplace isn’t just for individuals who have extra items they want to sell; it’s also for business owners, e-commerce companies, Amazon sellers, woodworkers, handmade artists, brick-and-mortar stores, you get the idea.
In reality, there aren’t many differences between seller tactics on Facebook and those on sites like Amazon and eBay.
Fees on Facebook Marketplace
If you’re selling locally, Facebook doesn’t charge you anything to post your goods, unlike other e-commerce or reselling marketplaces. Only 5% of the purchase amount, or $0.40 for shipments of $8 or less, is charged to the seller when a customer orders shipping. For both novice and seasoned ecommerce sellers, listing goods on Facebook is a no-brainer due to the low overhead.
Facebook stated in the About Fees section that all purchases marked as shipped through 11:59 p.m. Pacific Time on June 30, 2023 will be exempt from their standard selling fee.
What are the requirements to begin marketing on Facebook?
An current Facebook account is all that is required to begin selling on Facebook Marketplace. It really is that easy! You must go through the additional effort of entering your payment and shipment details if you want to offer shipping on your listings.
How to create your Facebook Marketplace account in step one
You can join Facebook Marketplace if you already have a functioning Facebook account. You should see a “Marketplace” tab on the side of your Facebook main page to the left. If not, type “Marketplace” into the search box, and it should appear.
It’s simple to create a Facebook account if you don’t already have one.
Your account will then be configured and available to use. It’s necessary for you to fill out some information so that you appear to be a real individual; doing so will increase your credibility on the Marketplace. If you don’t at least have a profile photo and some basic identifying information on your account, people won’t want to purchase from you.
What should you offer on Facebook in step two?
You can trade almost anything on Facebook Marketplace, just like on eBay and Craigslist. Look around your home, shed, or attic to see if there is anything that is valuable enough to sell that is taking up space and that you can sell on Facebook.
This can apply to anything, such as outdated furniture, outdated electronics, video games, household appliances, books, etc. Look around the Marketplace to find out what people are selling nearby.
Product investigation on Facebook Marketplace
Make sure your products will be profitable before you start offering them on Facebook Marketplace by conducting some market research. This is an important step, particularly for sellers seeking to develop or improve an online store through Facebook.
Data is the foundation of effective product research; it takes into account the quantity and price of a given product’s lifetime sales as well as the number of competitors vying for the same consumers in a given market.
This helps you comprehend how much items similar to yours have recently sold for. For instance, on Facebook Marketplace, type in “couch” if you offer used couches. When you click “search,” additional criteria, including “availability,” will appear on the left. Select “Sold.”
All recently sold items relevant to your inquiry will be displayed in Marketplace. You must click into the specific listing in order to see when an object was listed.
We don’t have a ton of useful information on what sells and what doesn’t because Facebook Marketplace primarily deals in local sales of one-off products. However, this does not require us to make educated guesses about what will sell; instead, we can simply look at what sells on competing platforms like eBay and Amazon.
Business success (Facebook Marketplace vs. eBay and Amazon)
If you are selling locally on Facebook, you don’t need to account for selling costs like you would on eBay and Amazon. Nothing, not a listing charge, not a referral fee.
Facebook will only charge you a 5% selling fee or a flat fee of $0.40 for shipments of $8.00 or less if you choose to include shipping in your ad. The purpose of this charge is to defray the expense of their checkout system’s payment processing.
Demand
Facebook doesn’t offer us a lot of sales information, so we must rely on information from eBay and Amazon to give us a solid idea of what’s selling.
We can determine the sell-through rate, or the proportion of sold listings to current listings for a given product, by looking at completed and sold listings on eBay. This procedure has been thoroughly covered in our guide to selling on eBay, but we’ll go over it again here.
Strong demand is indicated by a high sell-through rate, which means that a significant portion of the listed goods are being sold. There is little desire if a product has a low sell-through rate.
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