- December 17, 2018
- Posted by: Kari Jones
- Category: Automotive Industry, Tips For Dealers
E-commerce is not a new concept, but Facebook Marketplace still manages to offer vehicle traders a unique opportunity, by providing a localised, connected consumer base centred around social networking.
Facebook Marketplace was launched in 2016 and has since been made available for used vehicle dealers to list their stock on.
What is Facebook Marketplace?
“Marketplace is a convenient destination on Facebook to discover, buy and sell items.” This is how the social media giant describes its e-commerce feature. Like eBay and Gumtree, Facebook Marketplace offers a place online where buyers and sellers can advertise goods.
Potential buyers can signal their interest by initiating a conversation with the seller via Facebook Messenger, where both parties can then arrange payment and details of the trade between themselves.
How is Facebook Marketplace Different from the Competition?
Consumers already have a variety of portals to choose from to find used cars, including Auto Trader, Carsnip, Motors.co.uk, PistonHeads, eBay Motors, Gumtree, Shpock+ Motors and more. What separates Facebook Marketplace from all of these?
Before the Marketplace feature was introduced, Facebook was already being used as a channel for people to make trading arrangements. This was typically done through Facebook Groups. Recognising the demand for a virtual space for traders to operate within the social media platform, Facebook developed Marketplace to formalise the process.
Unlike any of the other portals mentioned, Marketplace originated from a social media platform, and this gives it a significant edge over competitors. By having already developed the largest social network, Facebook had laid the groundwork for a unique buying platform.
Marketplace is a trading portal based on trust; you can view buyers’ profiles, see if they have any mutual friends, and view their activity and ratings. You can also reach out to buyers through Messenger and have a conversation to find out more about the product being sold and haggle over the price, which is quick and convenient.
Facebook itself also has more than two billion active users, so the social media platform is already generating huge volumes of traffic that can be directed towards Marketplace.
Should Used Vehicle Dealers Move Away from Alternative Advertising Portals?
The best way to get your stock in front of as many consumers as possible is by taking an omni-channel approach, but with Facebook’s extensive reach, Marketplace does have the potential to become a major player in the field of automotive e-commerce and even enable dealers to reduce advertising costs elsewhere.
To find out more about listing on Facebook Marketplace with ClickDMS integration and our all-new Accelerator Pack, get in touch with Click Dealer today via firstname.lastname@example.org, 01782 478220 or through our contact page!