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DV Media Labs,  May 17th,2021, Internet Business

What is Facebook Marketplace? What are the benefits of it?

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Four years ago, with the launch of Marketplace, Facebook replaced Etsy and eBay, which is a feature in the main Facebook application that you can use to buy and sell goods.We have seen that it is very effective locally because it is very simple to see free and paid items around where you live and what interests you.In the past, people used Facebook Groups to buy, sell, trade, and exchange. For example, you can set up a garage sales-type group for your community so that people near you can post items they want to sell and find other people’s items. But this is a bit clumsy.Facebook Marketplace can be said to be an online shopping channel. Here, people gather to buy and sell products and services with each other in local communities.Let's discuss a few Benefits of Facebook Marketplace-:Timeless availability - online business has unprecedented advantages that always exist. Your store or store will never be closed, lest potential customers check your inventory anytime, anywhere.Attracting new customers - Facebook offers a huge opportunity to attract up to millions of customers to shop for shopping anytime, anywhere. Facebook itself has 2 billion monthly visitors, so your dream of realizing a large customer base can be realized.It provides a better opportunity to sell your items -According to Feedback rate of selling products on Facebook Marketplace is about 70%.Facebook has about 2.2 billion users. This is a lot of eyeballs, and although it is obvious that only a small part will see your ads, it is certain that more people will watch other ads. This is purely a numbers game.Coupled with the simplification of communication (see below) and accountability (see above), I think it is definitely more likely to sell on the Marketplace than on others apps.Direct interaction with customers – Facebook is one of the best social media platforms for customers to directly participate in product and store activities. They can directly participate in the sales or holiday discounts you offer.Real-time analysis -Facebook provides real-time analysis, sales, and clicks. You can easily access the effectiveness of advertisements, products and other paid marketing tools used to promote products.It’s easier to create a list on your phone -Facebook identify easier due facebook app has is the official mobile app it isn't difficult to create an ad using a mobile browserFollowing is the process:-Step 1: Click the "What you want to list" field, and then select the item for sale.Step 2: Add (or capture) photos.Step 3: Fill in the remaining details, such as price, category, and description.Step 4: If needed, add this list to any local sales group of which you have become a member (another privilege).Maybe it's safer -Facebook Marketplace is directly tied to the Facebook accounts of buyers and sellers. Obviously, these can also be faked, but at least you can check a person's profile, find out how long they have been on Facebook, check their previous Marketplace activity, etc. (If there is something suspicious, you can also report it.)Due to this accountability system, Marketplace should be a safer way to buy and sell goods. Of course, there is no guarantee, and I cannot point out any data that supports this theory. I just said that when someone attaches their name and face to something, they are less likely to engage in shady transactions.

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