Over the last few weeks, Facebook rolled out the capability to run ads in the previously ad-free Marketplace. The Marketplace, Facebook’s answer to Craigslist, provides a space for users and retailers to buy and sell products safely and easily.
The new ad placement allows advertisers to serve ads they run in other areas of Facebook in the Marketplace too– there aren’t yet any unique features for ads on Marketplace pages. However, the announcement is exciting for advertisers for a number of reasons.
First off, it offers greater reach to an active segment of Facebook users. Buying and selling on the social media site was popular long before Marketplace existed and remains a popular option for selling unwanted goods online.
Secondly, and this one is important, it reaches people who are already in a shopping state of mind. Unlike the rest of Facebook, and social media in general, it is not necessary to convince Marketplace users to ignore the surrounding baby pictures and pay attention to your ad. They’re already on the page to buy and sell, so it’s an easier transition to converting. This is especially true for businesses whose products are already represented among popular Marketplace options, especially furniture stores.
Lastly, it opens the door for more Marketplace advertising capabilities down the road. Whether it is better integrating offers with the Marketplace format or creating a specific Marketplace ad format similar to Messenger ads, there are a lot of opportunities for Facebook to explore to continue to expand on their advertising options.
We’re excited to test the new Marketplace placement and will keep you updated on any future developments!
Story by: Kelsey Thompson