What is Facebook Marketplace
If you’re like most people nowadays, you’ve probably signed-up for a Facebook account at some point. And if not, you’ve likely at least heard of Facebook.
The platform first began as a social media network. However, Facebook has evolved into something beyond a simple networking site. In fact, Facebook can actually be used for much more than just talking with friends and watching viral cat videos. You can legitimately use Facebook to make money! How? Through Facebook Marketplace.
Facebook Marketplace is essentially an online flea market where everyday people and businesses alike can sell their products.
Because of its built-in user base and the fact that it is so well integrated into the Facebook ecosystem, Facebook Marketplace has become one of the best ways to grow your online business. Similarly, you can make easy money from the comfort of your home.
Best Selling Items on Facebook Marketplace
The most common things bought and sold on Facebook Marketplace are:
- Sports equipment
- Kids toys
The good news is, these are everyday items. So, think of Facebook marketplace as an online garage sale. However, with this platform you’ll be sure to attract a lot more customers ?.
What you CAN’T sell on Facebook Marketplace
- Services: This would include anything from freelance writing to cutting lawns.
- Animals: This would include all animals, from traditional pets like dogs and cats, to farm and exotic animals.
- Digital products: This would include things like online subscriptions, e-books, or anything that would require downloading. In short, if you can’t ship it, you can’t sell it.
How to make a Facebook Marketplace listing
1: Sign up for a Facebook account. Log in if you already have one.
2: Click into Facebook’s Marketplace, which can be found on the left hand pane on your Newsfeed or at the top of your screen (the little store icon).
3: Start your listing by clicking on the + Create New Listing button in the left hand pane.
4: Select your listing type (vehicle for sale, item for sale, home for rent/sale, or job opening).
5: Fill in the required information (item, price, description, category, condition).
6: Fill in the optional information (availability, brand, product tags, etc.).
7: Decide whether to hide the post from friends. If you don’t want your Facebook friends to see what you’re selling, you can toggle the option off.
8: Decide whether to boost the post from friends. Boosting your post will require an additional step. Toggle the option on or off.
9: Add at least 1 photo of the item you’re listing. Facebook won’t let you publish without at least one photo.
10: Click the Publish button to publish your listing. You can publish just in the Marketplace, or choose up to 20 of your groups you can post your listing in.
Tips for Sellers on Facebook Marketplace
1. Quality photos
Sellers often underestimate the impact good quality photos can have on an item’s desirability. People tend to have more confidence in something they can see with their own eyes. As a result, they’ll be much more likely to “bite the bullet” on a sale and make an offer if they feel they know exactly what they’re getting.
Without a picture it is difficult to fully convey the quality of the items and buyers may react with skepticism. Make sure your photos are as accurate as possible. This means you should show any imperfections your describe, use good quality lighting to make sure the color is accurate, and include more than one perspective (eg. ariel view, side view, etc.).
Think of amazon. When you search a product on Amazon what is the first one you click? Most likely it’s the one with the best photo.
2. Honest & detailed descriptions
People respond to honesty.
If they get the impression that you’re trying to sell them something that isn’t worth the price tag, or if you come across as a snake-oil salesman, your listing will not be received positively.
Though you may be successful at attracting a buyer for your sub-par product, they will eventually realize that the quality of the item does not match the description and you will likely lose the sale anyway.
So, there really is no point in “up-selling” in a dishonest manner. You’ll not only waste the buyer’s time, but also your own.
3. Price with negotiation in mind
People like to negotiate, especially in informal settings like Facebook Marketplace.
As such, it is quite common for buyers to ask for a lower price than what was listed. If you as a seller refuse to budge on price at all, you come across looking inflexible and will likely turn prospective buyers away.
The best way to avoid this type of situation is to anticipate it. Price the product higher so that you can “come down” without compromising on the value of the item or taking a financial loss.
4. Consider Ads
From my experience simply posting on Facebook Marketplace will drive customers. Depending on your area, there are most likely thousands of people looking to buy each day. All-together Marketplace gets around 800 million monthly users. (According to a statement made in 2018 by Facebook’s CEO)
However, if you’re trying to sell something big such as a car it might be worth running ads. What’s even better is you can run ads right through Facebook. All you have to do is use their Ad platform.
With the Ad platform you can target specific kinds of people. For example let’s say you’re trying to sell a BMW car. You can target people who like BMWs Facebook page or have even searched for it in the last 30 days.
5. Consider Location
When it comes to Facebook Marketplace, location matters. When you go to make a listing you have to put a location for pickup. This will ask for your City / Town.
However, if you’re in a town with a small population finding customer may be difficult. So, depending on what you’re trying to sell it may be worth changing your location. Maybe change it to a larger area nearby. You’ll have to travel there to exchange the item but it may be worth it.
How much money can you make on Facebook Marketplace
Honestly, the sky is the limit. Of course if you have enough stuff to sell.
I had a friend who used to flip items on Facebook Marketplace. He’d buy low then re-sell high.
So, he didn’t actually sell his own stuff. This allowed him to make some real cash. He said he was making a little over $1,000 per month by flipping small items like games and decor.
On the other hand, from my experience if you’ll selling an item in good condition. And the items post is well set up. Then your item will sell fairly quickly.
In conclusion, Facebook Marketplace is a great place to make money. Quick money that is. So, if you’re looking to make some extra cash this month consider giving it a try!