How to advertise in Facebook Marketplace - Facebook is always aiming for new ways to advertise. Recently, Facebook has begun launching a new location for the Facebook Marketplace. The Facebook Marketplace now belongs to the main features of the Facebook app, where it is centered, ready to promote.
Facebook first announced the market back in 2016, but waited for time before they were ready to show ads. Mary Ku, Facebook's director, said the market is used to connect in a different way: buy and sell with each other, just like the Facebook groups did as well as Ebay and Craigslist. However, the sale of products in the Facebook group still works, but we guess most people have switched to the Facebook Marketplace, if they still wish to resell items on Facebook, because this way easier.
This must be a convenient place to discover, buy and sell items with people in the community, but most of you already know or use the Marketplace. It's not something new about reselling used items, but it's new on Facebook and get started!
At the time of writing this post, more than 800 million people have used the Facebook Marketplace and basically have advantages and disadvantages like Ebay, Craigslist or any other similar platform.
When you browse the market feed, you have seen several ads appear. For now, many businesses still use images for the ad copy they have, although videos tend to convert better and have lower CPMs.
Example of ad copy on Facebook marketplace:
NOTE: marketplace as ad position is currently not available to everyone. The official release date is unknown because when will all accounts be able to use the feature. However, we have tested this in business as well as for some of our customers.
As you can see, this is still the new advertising feature that Facebook is testing. As we always recommend, if you can use Maketplace, check it out.
If you are an ecommerce store, this will bring you real profits. If you are creating content or owning a SAAS business, this will not be the right position for you. However, we cannot be sure until you have tested it.
How to create ads for the market:
- Create campaign target
Go to the enterprise management account.
Visit the online advertising manager and select a new campaign.
When creating a new campaign, you will only be able to use Marketplace if you choose the following campaign goals:
- Traffic (directing traffic to websites, apps, landing pages or messengers)
- Conversions (optimized for conversions, sales, leads, etc. using Facebook pixels)
- Sales categories (display category items based on audience and target pixel)
- Reach (maximize the number of people you want to reach)
- Video views (show ads to those who can afford the video at the lowest cost)
2 .Select a Marketplace location
Once you've selected your campaign goals, make and target as usual. Targeting does not have any effect on the position you do. You are done with detailed targeting, flexible targeting, using custom objects, LLA objects, other Facebook pixel data or whatever you like.
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When you make ad positions, keep in mind that you will only be allowed to choose the Facebook Marketplace if you advertise on mobile devices as you will see below. At the time of this writing, you will not be able to advertise on desktop for this placement. Hope Facebook will add desktops later.
Change "automatic location" to "edit location", then you will be able to choose the different positions as you want.
Mobile location options:
Desktop location options:
NOTE: You will not be able to run Marketplace ads as a unique placement. You should choose a regular feed to a minimum when you want to choose Marketplace placements for ads. This means ad copy must run in Facebook feeds as well as Marketplace.
- Create ad copy
When you create ad copy, it's the same process as when you create copy for Facebook newsfeed. Recommended specs are the same, they are:
- Recommended single image size: 1,200 x 628 pixels. Image ratio: 1.9: 1.
- Carousel is suggested by Facebook. Image size: 600 x 600 pixels. Image ratio: 1: 1
You will not be able to create or cut Marketplace unique ads, so the copy you choose for Marketplace will be identical to the one currently running in the newsfeed.
When you create your ad copy, you can choose an image with a ratio of 1.9: 1 or a carousel with an image ratio of 1: 1, or you can go for video ads. As we know, video ads tend to have higher engagement and lower CPM (when done correctly).
Not always, though, but we have seen really good results with video advertising, especially on the Marketplace.
When you advertise on Facebook and social media in general, you will have to attract attention from users. Often you want to sell them something, as soon as they watch a video with the cute cat or a photo of some of their friends.
Social media marketing is getting more and more competitive every day and the attention span from users is getting shorter and the blind banner is getting bigger and bigger.
Because of this, you will need to have featured ads, but when you make ads on the Marketplace, users have a completely different intention. They are not browsing videos like we just said, but now they are looking to buy something, which will be more interesting and more profitable for you as a business or marketer.
As we wrote earlier, we don't think content marketing will fit the Marketplace, but of course this is something you try.
View & Measure Marketplace performance
Once you've set up your campaign, creative set, and ad copy, you'll need to gather some data before making any conclusions about performance in the marketplace.
To view performance and stats in different locations, e.g. newsfeed + marketplace, click the breakdown menu on the right hand side, when you're in the Facebook ad manager. You can do this at the campaign level, creative set or ad copy.
Breakdown -> By delivery -> Placements
Next click on PLACEMENT.
If you're used to running ads with automatic placements, you have tried Marketplace, especially if you're from the US. Either way, this is a good way to compare different locations or age groups, gender, etc. or any filters you like.
Once you have selected Marketplace on Placement, as a location, it will display in the filter as other locations as shown below. The ad we ran below is a conversion campaign, where we tested both news feeds, markets and Instagram feeds.
We use daily budgets for most campaigns, as this is the easiest way for us when we want to scale up. So far we have had a fairly good CPA (cost per purchase) in the market, but suppose all positions are equal. We have tried to get good results in almost any position, so this really depends on the product / service and the audience you want.
3 quick tips to organize Marketplace
- Tested and tested.
In addition, performance and ROI are very different when you change campaign goals.
2. Use conversion
So far we have achieved the best result with the goal of conversion, which also means a lot to this position. Traffic and reach may work well for you too, but conversions will actually be optimized when the audience is in Cameron's shopping mood.
3. Use video ads
When you make different ads, make sure to check out at least 1 video ad. It might not be better, but you'll sometimes be surprised by the performance of video ads compared to images or carousels. In our research, we have found most image ads compared to videos on the market, but this will change, but you will have an advantage over your competitors if you decide to watch it. video.
Epilogue
What do you think? Can you use Marketplace and have you tried it?
We think that is good news for marketers and social media like us, because this provides more ad inventory, more customization and expects some good results when running ads. Marketplace.
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