Facebook has ruled the social networking scene for many years. With more than a billion users, it was the most used and most downloaded app of the 2010s. But as time went on, and other apps and websites started emerging, Facebook lost its #1 position. It was still widely used, but only by adults and older people. To bring back facebook to its #1 position, Facebook Marketplace was launched. It meant facebook not only competed with social networking apps like Instagram and Tumblr but also took on eBay, Esty and Craiglist. Facebook Marketplace is a platform which allows users to buy and sell items. Earlier, it was thought to be a means for users to sell their used or unwanted items, but now it has evolved into a new channel for marketing. Here, we will discuss what is facebook marketplace and how it can help your business.

What is Facebook Marketplace?

In 2016 Facebook announced an extension to its business model with Facebook Marketplace. It is an online marketplace which lets people discover, buy and sell things. It is similar to eBay but with the added comfort and socializing power of Facebook.

Although it was intended for peer-to-peer business but has now evolved into a thriving marketplace with brands and entrepreneurs. Facebook Marketplace is a great place to sell anything- furniture, vehicles, garments, accessories, etc. It is most desirable for local businesses wanting to expand their reach.

Facebook continues to add functionalities to Facebook Marketplace to make it more engaging, flexible and usable.

Why Use Facebook Marketplace?

• Better reach. With more than 800 million users, it helps your brand reach a wider audience.
• Target Audience. Having more than 800 million users, Facebook Marketplace helps reach the target audience
• Cheap and Effective. Facebook marketplace is cheaper than other forms of digital marketing. All it requires is a Facebook account. Also due to its wider reach, it helps create more brand awareness.
• Best way to conduct market research. It offers an excellent place to conduct market research. You can test different products and find which fares well, experiment with different pricing options, descriptions and discounts to find what the audience likes and what suits your product the best.
• Allows one-on-one interaction with customers. Facebook Messenger allows buyers to directly interact with the seller and vice versa.

We have discussed what is facebook marketplace and how it can help your brand reach out to target audience and increase brand awareness. Facebook Marketplace is booming with more than 800 million users in 70 countries. It is an effective way to market your brand. However, due to stiff competition, your brand may not be able to make a mark. Here’s where we come in. We Love Digital Marketing provides marketing strategies unique to your brand which help increase your brand awareness and have a greater turnover. With more than 5 years of experience in catering to clients, we deeply understand the digital marketing space and care for the requirements of our clients. Visit our website for more information.