Selling on Marketplaces

Who is shopping on the new marketplace fb

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With so many ecommerce shopping carts and marketplaces established it only made sense that social platforms get into the game with the recent launch of marketplace fb. Facebook, now Meta, launched their own marketplace to really cash in the growing ecommerce opportunity. As everyone knows ecommerce has been growing dramatically over the last 10 years but since the pandemic has been exponential. So are you on the new marketplace fb?

The most balanced approach to ecommerce is to spread your products as wide as you can. This means you should be on marketplaces and have your own shopping cart. Additionally, if you can take direct orders or in person orders of course you should create that path. Logically this also means you should be on Social selling and figuring out how to convert the new facebook marketplace to be a growth tool for your business.

First, think about who is shopping on the new marketplace fb. Well, not everything is going to make sense to sell here. You will really need to think category to category to figure out if what you sell falls into a category that is typically sold or can be made popular in social selling. For example, Apparel makes a lot of sense for social selling. Business to Business office furniture, less so. As each time you launch into a new marketplace or sales venue it does take time, resources and money to make it work and be successful. As a small ecommerce shop, you typically need to prioritize how you spend your time. The best thing you can do is always test new channels, monitor for results and adjust as needed. This means go ahead and list some products on the marketplace fb and see how you do. Run ads and spend effort to really try and grow your business. Wait for about six months or so and then look across everywhere you sell to see how it compares.

Growing traffic to a website takes a lot of work as does making your listing on a marketplace stand out with all of the competition. Social selling creates a new opportunity as customers are already on the social sites and while your competition may be on social, you are not really directly competing. This creates a new path for you to grow if your products, category and brand can make it work.

The marketplace fb also expand to both Facebook and Instagram where you can try to convert the social selling options with overlapping effort as they share the same product catalogue it makes it easier as a seller to create your products and sell on both channels without having to manage separate information.

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