Say Hello to Ads in Facebook Marketplace
We have all seen or used it…
The helpful Marketplace tool that Facebook offers for online shopping to sell and buy local items has now announced the use of ads. According to Facebook business, these ads are recently available for use in New Zealand, Australia and the United States.
The Marketplace shopping experience was an addition to Facebook in 2016 and has grown into businesses using the platform to sell their own product or service. This addition alone has shown tremendous sales growth for users, but Facebook decided it was time to step it up.
This recent update allows for advertisers and businesses to use Marketplace as an ad placement to target audiences and run ads using conversions, video views, and reach objectives.
Prior to the Marketplace ad placement being available, businesses were losing out on ad spend and cost per click. This caused irritation and sparked the idea for the use of ads within the Marketplace product.
“Advertising across our platforms enables you to reach your target audience wherever they’re spending time, giving you more opportunities to connect with people likely to be interested in your offerings.”- Facebook Business
The addition of ads to Marketplace is going to not only help businesses see a greater return on ad spend in marketplace but it will also help drive conversions.
“Businesses are already seeing results using ads in Marketplace. Thread Wallets, an accessories company, generated more than 300 purchases while increasing its year-over-year return on ad spend by 41% after adding Marketplace as a placement for its conversions campaigns.”’- Facebook Business
Here’s an example of what your feed will look like.
Why should your business use marketplace ads?
With this Facebook update in marketplace, business owners could benefit immensely. As stated above… businesses using the addition of ads in Marketplace are already seeing profitable returns from their ad spend in Facebook. But there’s more… with the use of Marketplace to sell your product/service not only is your business given unique ad placements, but your brand awareness from interactions with potential customers will skyrocket.
Facebook Marketplace is a free way to gain exposure to customers around you, build trust and test various ways of how to position what your business has to offer. With the use of ads in marketplace this exposure for your business will increase as your product advertisement will be placed on news feeds, Facebook Messenger, Instagram and targeting your desired market based on your catalog sales. There is a list of reasons I could state why your business should use Marketplace and Marketplace ads, but I feel using it will sell itself due to all the benefits.
Now, thinking about how this will affect users of Facebook — well, I don’t think it will. We are constantly surrounded by advertisements today, so a few more here and there throughout my news-feed wont bother me, but we will just have to see!
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