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Wednesday, August 16, 2017

Testing a way of peer-to-peer buying and selling on Facebook

Marketplace was launched by Facebook last October in countries like the US, UK, Australia, and New Zealand on mobile. 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.
Toward the end of the year, Facebook plans to launch a test with a small group of publishers. If the test is successful, the social giant will likely expand the effort in 2018.“Facebook Developer Conference”, there are many insightful announcements and sessions for social media marketers. During F8, Facebook talks about its family of applications and services — Instagram, Whats App, Messenger, Oculus, Workplace, Audience Network, and

Are Ads Coming to Facebook Marketplace?

  • During the test, Facebook will take the retail variety of its dynamic ads that brands use to re target online shoppers and slot them among the items that are listed for sale by regular people on Facebook, like clothes, toys, sports equipment, apartments and jobs. In May, people in the US posted 18 million items for sale within Marketplace, according to a Mike Manning Facebook spokesperson.
  • These ads will look similar to Marketplace’s square-shaped organic listings. They will feature the image of a single product pulled from the product catalogs that participating advertisers have uploaded to Facebook and will carry the advertiser’s name and a “Sponsored” label, according to Facebook spokesperson.
  • the algorithm will take into account the pages that person has liked as well as the organic content and ads they've interacted with on Facebook, Mr. Idema said. There won't be any ads within the shopping section, so merchants won't be able to pay to promote their products there ,he added.

  • People will be able to click on the products to view more information like available colors and sizes as well as navigate to the retailer's site or bookmark the product to their saved folder on Facebook, which is also home to other saved content like videos.
  • The ads will only be shown in the mobile version of Facebook and not on the desktop computer version, said Manning.

By testing ads on Marketplace, Facebook is attempting to expand its multi-billion dollar advertising business, which had $7.9 billion in sales in its latest quarter. People posted over 18 million items on Marketplace in May alone, Manning said, which indicates that many people are using the service.

“We are starting a small test that shows ads to a percentage of people using Marketplace in the U.S. and will evaluate the response before determining how we move forward,” Michelle Bonner Techel, a product marketing manager at Facebook, stated.

“We are in early talks with several news publishers about how we might better support subscription business models on Facebook,” Campbell Brown, head of news partnerships, stated.

“As part of the Facebook Journalism Project, we are taking the time to work closely together with our partners and understand their needs,” according to Brown.

Along with several private meetings, Brown shared details at round table meetings with media executives in New York and Paris, last week. This would be important to create a consistent user experience, Facebook executives reason.

publishers will have full control over their subscriber data, while the feature will enable authentication for existing subscribers. The payment process is still being determined, the source said.

Facebook market place from 2007 to 2017

Facebook has been trying to win local commerce for almost a decade. In 2007 it first tried out a “Marketplace” for classified listings about things for sale, housing, jobs, and more. But Marketplace never gained massive traction and in 2009 Facebook transferred control to Oodle, the commerce platform powering it. It was shut down in 2014.

Then last year, Facebook took another swing, building a special “For Sale” post option to Groups, which almost a quarter of its 1.71 billion users now visit each month. In October 2015 Facebook began testing a “Local Market” feature that would evolve into the Marketplace launching today.

Facebook Ad Campaign Scheduling Tips

It is also usually best from a budgeting perspective to start with a Cost per Click (CPC) campaign, but Facebook runs on a Cost per Thousand Impressions (CPM) model behind the scenes – so if you can stomach the chance of a lot of impressions without many clicks – the latter will get you better exposure.
Next you can set your maximum bid per click or per 1,000 impressions. As a best practice, we like to always start by bidding 80% of whatever the Facebook tool suggests to try to find the sweet spot where others are not bidding below.

Tips to Setting Bids with Facebook Ads

You will just need to test this out for your specific campaign – so pick a starting point, then hit ‘Review Ad’ to make sure there are no major mistakes.
If all looks good, hit Place Ad, and wait for your Ad to get reviewed/approved by the Facebook review team.

Finally,we are going to illustrate some points of F8 or Facebook developer conference :
  • It started selling mid-roll video ads, and more importantly, it started funding video projects that could host those ads. It's even paying video publishers to make TV shows for Facebook, a chance for more video ad inventory.
  • It started selling ads inside Instagram Stories. It's tough to tell how popular Stories have been on other Facebook platforms like Messenger, WhatsApp and Facebook itself, but presumably those Story ads will show up on other platforms, too.
  • It started selling ads inside Facebook Messenger, and was in Cannes to sell and educate ad buyers on Messenger ads just last month.
  • It started testing ads in Marketplace, its Craigslist-style shopping section for buying or selling used goods, yesterday. It's just a test for now, but yet another place Facebook is hoping to find more ad inventory.

I try to use the pages of Facebook for advertising & i found the ability to click on the products to view more information is missed & the new marketplace with more options needed for selling & buying products ? have you ever try social media marketing ? tell us what you try ? what do you think to be important in the marketplace by Facebook ?

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