Facebook has opened an avenue for some users in Marketplace to pay to promote posts to their neighbors. Promoted listings will be seen by anyone even though they are not directly in Facebook’s Marketplace.
Neighbors who are not in Marketplace will be able to see ads as “sponsored” posts in their News Feed; but of course, they must have a Facebook account. The social media giant, according to The Verge, says it is monitoring small users based in the US for now. However, Facebook said it doesn’t have any plan to launch the feature to a wider audience anytime soon.
If you among the early testers in the US, you will be able to set your budget and determine how long you want your campaign to last. Once an advertised item is sold, the ads will be immediately pulled by the social media behemoth.
As may have read [or if you haven’t], there is no set price for an ad—all submitted ads are entered into Facebook’s ad auction. Submitted ads are then considered alongside others having similar target audience—and in this case, a winning ad is selected based on the highest value to both the user and the ad viewer.
Facebook’s Marketplace was launched two years ago. The idea behind it is to give Craigslist and eBay a run for their money.
According to Facebook, Marketplace is a “convenient destination to discover, buy and sell items with people in your community. Marketplace makes it easy to find new things you’ll love, and find a new home for the things you’re ready to part with. We’ll continue to build new options and features to make this the best experience for people.”
Marketplace is fashioned much like Craigslist and eBay, but a bit friendlier in terms of finding things to buy online. It lets you browse a feed that is relevant to your needs and from people who live nearby, while also allowing you to quickly list your own stuff for sale. It is even integrated with the Messenger, which lets you arrange a meet-up with a buyer or seller or negotiate price.
This is a brilliant idea considering the fact that you can actually know the person you are dealing with—quite different and safer than the Craigslist’s way of dealing with someone anonymously. The real deal here is the Facebook profile of the individual—you are able to find out a few things before concluding a deal.
The feature was initially launched in countries such as the US, UK, Australia, and New Zealand on mobile, while a further rollout soon followed with more countries swelling the lists. While Marketplace could serve as a friendlier way of peer-to-peer buying and selling on Facebook, the social media behemoth needs to work on a few areas to make the feature more appealing to people.
Project manager Bowen Pan said at time that the company saw an opportunity and decided to catch in on it by introducing Marketplace. The company believes that people now have a more formal place to conduct exchanges.