Great news has been announced for businesses advertising on Facebook, as a new Marketplace placement has been made available. This feature allows you to place targeted adverts to people in an area that they’re already actively shopping in.
What is Marketplace
Facebook Marketplace has been enabling people to buy and sell locally via Facebook since 2016. Since then, its doors have been opened to include businesses, giving people the opportunity to browse products and services from both people and businesses within their local communities. You can expect to see products such as home rentals, home services and used vehicles on this part of the platform.
What are ads in Marketplace
When you choose the new Marketplace ad placement, your ad will appear when someone browses Marketplace in the Facebook app on their phone. At the moment, you’re unable to have a Marketplace only placement, so the ad will also show in Newsfeed.
There are a variety of objectives you can choose this placement for:
- Traffic – to drive traffic to your website, app or Messenger
- Conversions – to promote a website and use a Facebook pixel
- Catalog sales – to show items from your catalog based on your target audience
- Reach – to maximise the number of people that see your ads
- Video – to get the most videos at the lowest cost
It’s worth noting that you can also track conversions using a Facebook pixel with your ad.
Whilst this feature is still quite new, businesses have already seen positive results using ads in Marketplace. Thread Wallets has generated more than 300 purchases and increased its year-over-year return on ad spend by 41% since adding Marketplace as a placement for its conversion campaigns.