Capitalizing on the Potential of Facebook Marketplace Marketing

Last updated on May 10th, 2024 at 08:14 am

This article is packed with tips for small businesses on a budget with 10 Facebook marketplace marketing tricks and growth strategies to boost your business, and increase facebook earnings with your product or service getting exposure globally.

As Facebook marketplace strives to deliver the content that its users will enjoy the most and find the most relevant, organic reach has decreased. Indeed, some believe it is already extinct.
For small businesses, this presents a unique problem: You don’t have the same budgets as larger advertisers to spend on paid posts to compensate.

The harsh reality of Facebook today is that only about 1 out of 50 people who are already fans of your Facebook page will see any single post you make on your Facebook business page,” said Sam Underwood, director of business strategy at Futurity, a digital agency.
There are no longer any guarantees that your content will be seen by your fans. There is hope for small businesses, however.

Top 10 Facebook Marketplace Marketing Strategies

Here are tips for small businesses on a budget with 10 Facebook marketplace marketing tricks and strategies for finding the right audience and providing them with content and experiences they’ll appreciate, even if you have a limited budget.

1. Post Content with a Purpose in Mind

When you post something on Facebook marketplace with the intention of getting likes and shares, it has a very different effect than if you post the same thing just because it’s your nature to share things that are of interest to your friends and followers.

Posting something with the intention of getting a reaction will cause your post to stand out amongst the other posts that people see when they look at their feeds. This tactic works particularly well for businesses. The facebook post will be noticed and eventually read by more people than if it wasn’t posted with intent. And, those people who do read your post will remember it more because they “got something out of it.”

When you are creating an ad or post on facebook marketplace, you should always be thinking about how you can use this social media platform to reach a specific audience.
Don’t just throw something together and assume that everyone will get something out of it. It’s not true. Not everyone is going to get the point that you are trying to make.
Think about how you can customize each post so that it will be most effective with your intended audience. You know your product or service better than anyone else. You should be the one to determine what your posts will contain. If you do this, your posts will have more credibility and you will generate more sales for your business.

2. Try to Blend in with the Facebook Community Crowd

If you’re going to blend your Facebook ads or content to a specific audience, the first step is to make a simple math calculation. You do this by dividing the number of people in your target audience by the total number of people who will see your ad. Let’s say you’re targeting men between the ages of 18 and 34 who live within 30 miles of a large city (you do know the formula for determining an effective radius, right?) and your ad is running at the top of the hour.

If there are 100,000 people in your target audience and your ad is seen by 1000 people, your blended ratio is 1%. That means that for every 1,000 people who see your ad, there will be 1 man aged 18 to 34 who lives near a large city who is a potential customer for your business.

Now, let’s say you have another 1,000 men in your target audience who don’t live within 30 miles of any large city. These men are not interested in what you are selling. They are not customers for you. However, because they are members of your Facebook audience, they are members of your marketing database and they are people who may become future customers.

You can contact these non-city-living, non-city-dwelling men through other means but, when it comes to blending your Facebook ads, it doesn’t really matter. What matters is that their presence in your marketing mix has the same value as the presence of the men who live near a large city. In this case, your blended ratio is 2%.

This also means making sure your post is seen by your target audience and at the right time. Know when your customers are most likely to read your message, then deliver it. Studies show posts with a reach of 10,000 or more are most likely to be read. Also, check out the “engagement ratio” of your posts. It’s the ratio of comments to total impressions (number of people who saw your message but didn’t click on it). The engagement ratio should be around 80% or higher.

3. Don’t Post without a Content Calendar

The second tip is to post on Facebook at the right time. There are two different types of posts that get the highest engagement on Facebook marketplace: those that are informative and those that are entertaining. Informative posts include everything from blog posts to simple photos and status updates. Entertaining posts include things like funny photos, memes, and videos. The rule of thumb is that if your post hasn’t entertained anyone by the time it has been on your feed for 24-hours, it’s time to start thinking about deleting or changing it.

4. Improve the Appearance of Your Facebook Page

If you don’t believe me, ask 100 people what the number one change they would like to see on their Facebook profile page.
You’ll get the same answer 100 times: They want to see their profile picture taken care of. That’s because it is the number one factor which convinces people that they are actually friends with you and not a complete stranger.

Your facebook profile page is the digital billboard on the top of the mountain that everyone in your market can see. Make it a useful, attention-grabbing billboard. Offer compelling benefits. Tell your story. Use the “Call To Action” buttons. If your fb page isn’t enticing enough, you won’t get the response you’re looking for.

Nowadays, people get very bored with what they are being offered over and over. They want something new. They want to be challenged. They don’t want to be told what to do. They want proof. Show them proof. Give them reasons to buy from you. Give them numbers. Quantify your sales message. Don’t assume your audience is as smart as you are. They aren’t. If you are selling a car, don’t tell them that it has four wheels, an engine, and a title.

Tell them the car is a good investment because it gets 37 miles per gallon. Or, it has a 150 horsepower engine that delivers an impressive 0-to-60 acceleration time of 6.5 seconds. Those kinds of facts give people an instant reason to buy your car. It’s not necessary for you to know and explain everything about the product you are selling. Let your prospect fill in the blanks.

5. Establish a Facebook Community page

The second most effective tactic is to start a conversation, a virtual community where people can get together and share ideas. And you don’t have to have a lot of money to do this. In fact, you don’t even have to have a website. Just create a facebook page and invite your friends, family, and associates to join you. Then, share ideas, ask questions, and get answers from other people who are as excited about this project as you are. Soon, you’ll have a network of supportive people with similar goals and passions. This is another great source of beta testers and invaluable feedback.

If you are just getting started, you should join as many online communities as you can. There you will find people with common interests, and you can share your ideas with them; you don’t have to have a lot of money to do this. It is an inexpensive way to get a lot of valuable feedback and to find people who are as passionate about your project as you are. Don’t be afraid of criticism either. Most people are more than willing to give it when you are asking for it. Always remember that. Don’t hide from or try to suppress critical feedback. Instead, let it fuel your fire. And most of all…

6. Create a Facebook Group

The next suggestion is to create a Facebook group. Ask your list to join. Tell them what you’re going to tell them. Ask them questions. And then… ask them to give you their feedback. This will be one of the most important things you do as an early adopter. Not only will this help you validate whether or not your idea is worth pursuing, it will also give you invaluable insight into what your list wants. They might not tell you what they want directly, but the truth is, they will be sending you subtle (but very powerful) signals all throughout the process. You can’t miss them. Be prepared to act on their feedback, make changes, and adjust your plan accordingly.

One of the best ways to gain valuable insights is to create a Facebook group. This is something that I did recently and I asked my list to join. Then, I told them everything that I was going to tell them and I asked them questions. After that, I told them to give me their feedback. The response was overwhelming! My list gave me feedback in every area of my marketing campaign. They were so generous with their insights that I could hardly believe it. It was almost like they were reading my mind. Here are just a few examples of what my list said:

“Make it easy and natural for people to share pictures of themselves and their kids on the site.”

“Offer something your current customers don’t have…like an annual subscription to your newsletter or a barefoot running video.”

“Don’t make this about you… make it about them… their problems and how you can help solve them.”

“Offer an optional ‘funny’ feature where people can post ‘hidden’ photos or videos. Make the audience vote on which ones are the most ‘hidden’ and surprise and delight the subscribers who find them.”

There were many, many more great insights like these. And, I acted on all of them. I can’t thank my list enough for the feedback they gave me.

7. Your Facebook Group Name Should be Carefully chosen

The second most important point is that you need to be very strategic about the name of your Facebook group. The name you choose for this will appear in the “suggested” group names that people when they are looking for a group to join. So, think long and hard before you pick the name of your group. One simple trick to help you is to imagine how the name of your group could be perceived by someone who is not part of the conversation.

You should think about how the name of your group could be perceived by someone who is not a member of the group. You should avoid using names of well known brands such as GMC, Chevy, Ford, etc. You should also avoid using profane or sexual names. Instead, you should use names that are positive and uplifting. You can make up new names or modify the names of existing groups. Just make sure the name of your group describes what it is you are trying to achieve.

As I said earlier, the name of your group should be something like this… “Get Fit With Paul”, “Lose Weight With Paul”, “Sleep Better With Paul”, or “Lower Your Blood Pressure With Paul”. Or something like that. The point is don’t be clever. Don’t come up with some cute, clever name that has nothing to do with what you are trying to accomplish. The name should be clear, straightforward, easy to remember and it should describe what your group is all about. Don’t put a bunch of effort into the name of your group. Just let it be something like “Paul’s Latest Grouping”.

8. Be sure to Keep Updating Your Facebook Story

When was the last time you updated your Facebook status? Do it today. If someone hasn’t commented on your update in a day or two, chances are, they haven’t been paying attention. It’s one of the least-read aspects of social media. Post something new on your wall every day. Your friends and followers will thank you.

A study from Cornell University revealed that only about 20% of Facebook users log onto the site daily. The rest are “lurkers” who may use the site once every two weeks or less. So, the question is: How can you reach these “lurkers” with messages that will catch their attention and prompt a response? One way is by using “updating” stories.

These are essentially mini-newsletters you send out to your fans on a regular basis. The idea is to keep them engaged and informed without overwhelming them with too much info. If you haven’t done so already, I suggest you take a look at my free FB update report. It reveals exactly what updates will get the most likes on your posts.

9. Vanity Metrics should not be a Source of Excessive Concern

What you should be obsessed about are the real numbers. Do these posts get read? How many people click on the links? How many downloads does this email generate? And don’t forget, this is where analytics come into play. Tracking these types of numbers will give you a much more accurate picture of the effectiveness of your efforts than any “vanity” metrics.

Vanity metrics are like mirrors; they reflect how successful you are at creating a great-looking website or a compelling sales message. But they don’t tell you very much about how well the site or message is actually being received and acted upon.

10. Facebook can be used to Assist Customers

Don’t fight with your customers. When something’s broken, don’t make them jump through hoops to get a solution. If you sell via email, send a quick, one-paragraph “save the date” announcement to your entire list. If you offer phone support, give them the number and let ‘em call anytime day or night. Give ‘em what they need when they need it. In addition to making sales pitches, Tracy suggests using the free Facebook Messenger service for customer service.

If a customer has a question, you can use the “ask” feature to send them a message. Then, you can reply with the answer and reference the FAQs you’ve posted on your page. The key is to use this channel in a way that makes customers feel like you are actively engaged in a personal conversation with them, and not just some faceless entity.

Conclusion

Small businesses have been using Facebook marketplace for marketing purposes for years. And yet, many of them are still confused about how to best use this huge social media platform. That’s where I come in.

Over the past several months, I’ve tested dozens of Facebook marketing strategies on hundreds of small business owners. And now, I’ve successfully revealed to you the 10 most valuable Facebook marketplace marketing hacks that you can easily incorporate into your own marketing efforts.

You know, there are so many great marketing ideas floating around out there, it can be hard to decide what’s worth paying attention to and what’s not. This is a mistake that almost every marketer makes at one time or another. And, if you are not aware of these proven tactics, you are really hurting your chances of success!

Even if you don’t have a budget, there’s no reason you shouldn’t be using Facebook marketplace for marketing.