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Title: Facebook Marketplace is Open for Businesses Selling New Products

Summary

Facebook Marketplace is an online social media platform where an individual with a Facebook account can list and sell any item locally (i.e., phone, games, furniture, and cars, etc.). In the initial stages, Facebook Marketplace is a consumer-to-consumer (C2C) platform similar to Craigslist (online classified ads). As Facebook Marketplace grew in popularity, Facebook added new features like processing a transaction through checkout along with shipping (Roizen, 2020). Now businesses have the grand opportunity to sell to consumers through this popular social media platform, and this article shared four main reasons why they should. First, Facebook Marketplace has low selling fees. Compared to other selling platforms, Facebook remains the best pick among competing marketplaces. Currently, Facebook charges a commission rate of 5% or $0.40 for transactions under $8, and there are no listing fees. Which is a considerable benefit as businesses can upload as many products they desired at no additional cost.

Second, Facebook Marketplace can be a simple transition. Due to B2C opportunity still in beta, Facebook prefers that retailers work with an approved listing partner. Onboarding consists of entering your business information, adjusting shipping and tax settings, linking accounts for payments, and selecting data feed source (Roizen, 2020). The third reason is Facebook Marketplace is a package deal. In using Facebook, it also opens the door to the same type of platform for Instagram. The benefit is that both Facebook and Instagram can market towards both a younger and older audience without requiring much more setup on the integration aspect. Lastly, Facebook can make shopping highly personalized. Facebook uses data about its users to connect them to products they like. This approach can tailor a customers likes over time based on products and information on things they clicked on. Customers can also purchase items from the online Store directly from the Facebook page.

Reaction

Reading this article proved insightful and educational. I have personal experience selling a few items on Facebook Marketplace, and I enjoyed using the platform. Its a reliable and easy-to-use system and straightforward process. However, I did not know that recently Facebook added the new feature to buy directly from a page or store that someone can access and select a product they like, for instance. Opening the doors for a B2C market in addition to C2C will make things more interesting. I love supporting local businesses over chain businesses and feel that more often, the local companies have a personal touch to their products or services and a neighborhood feel. If I had a small business, I would take the articles advice and take advantage of the resourcefulness and affordability of Facebook Marketplace to market my product or service. One of the most critical pieces of owning a business is marketing design and expanding new ways to reach more clients.