Facebook Marketplace for Auto Dealers
Facebook controls attention. That’s why auto dealers need to use Facebook Marketplace. Now, you can.
The average American is on Facebook and its related apps almost an hour a day. With a hold on our attention, it is the perfect place to help people do what they want to do, whether it’s watching TV (Facebook Watch), chatting with friends (Facebook Messenger), or even shopping (Facebook Marketplace).
Today, Facebook announced that auto dealers can now push their used inventory into the Facebook Marketplace. The future is here.
To date, Facebook Marketplace has been a testing ground for people literally selling their junk. Today, however, this has changed, and the world of buying and selling a car is significantly disrupted. Here’s what you need to know about Facebook Marketplace.
How Facebook Marketplace Works
Facebook Marketplace is a visual marketplace where anyone can list their products for free. The products are categorized by location and category so a buyer can quickly find all of the clothing for sale nearby, or, all of the vehicles for sale. Further filtering can easily identify cars or trucks based on mileage, price and more.
Sellers can easily list an item with a few clicks and a photo.
In practice, a dealer can now list a vehicle and then the buyer begins chatting with the dealer via Facebook Messenger. Facebook has also partnered with sites like Cars.com and Edmunds to further integrate used inventory into Facebook.
Marketplace is one of four buttons on the Facebook app, so it receives a large number of eyeballs from Facebook users. Its position front and center on the mobile app shows that it is a priority for Facebook moving forward.
Facebook Marketplace Disrupts AutoTrader, Craigslist, Cars.com and more
Facebook is partnering with 3rd party lead providers like Cars.com, but long term, Marketplace is positioned to be the main listing location online.
Marketplace has four major advantages over other third party lead providers, like AutoTrader, Craigslist, Cars.com, CarGurus, Kijiji and more.
- Social Promotion
Social Promotion on Facebook Marketplace
Buyers can message sellers directly via Facebook Messenger or share the product to their network. Thus, sellers in Facebook quickly get their products in front of the people or groups who will be most interested.
Since people use Facebook to communicate with friends and groups, it is simple to put products in front of these same groups. For other third party sites, sharing originates outside of the Facebook ecosystem, so it is more cumbersome and less targeted, limiting the social reach of a product.
Location on Facebook Marketplace
Facebook knows where the user is and can easily serve up products nearby. For someone buying a car, this means an individual has an equal chance to sell to a buyer as a large auto dealer. Besides comparing on price, sellers will gain visibility by being the closest, easiest option.
Third-party lead providers spend money to attract new visitors. The cost of acquisition is high. Facebook already has the attention. Instead of paying for user aquisition, it simply adds an icon on its mobile app and suddenly has millions of users. For a seller, it is a no-brainer. You can get your product in front of relevant, local buyers. What’s more? It’s free.
Facebook plays by different rules than every other automotive marketplace. It does not need to make money on the transaction itself. Instead, it wants to maintain attention so it can profit off of ads while the user is using Facebook.
Thus, where AutoTrader, Cars.com and others charge high fees to auto dealers to place and promote their vehicles, Facebook is completely free. This means more people will place products, leading to more users and attention, which is exactly what Facebook wants.
Why Auto Dealers Need to Use Facebook Marketplace
Buyers are looking for vehicles on Facebook Marketplace. It will continue to develop into a professional platform for buying and selling. Auto dealers should integrate with Facebook Marketplace to ensure their inventory, especially used inventory, is found by potential buyers.
Unlike AutoTrader, Cars.com or even Craigslist, people come to Facebook to do everything in their lives, not just shopping. That’s exactly why it’s the perfect place to integrate a marketplace. People might be bored between reading news stories, watching videos or chatting with friends. It’s one click for them to quickly browse cars and trucks. With a nudge from their friends or an intriguing price, a casual Facebook user quickly becomes a Facebook buyer.
Get Started with Facebook Marketplace in Our Free Webinar
Want to get started using Facebook Marketplace for your store? You’re in luck. We hosted a free webinar all about it. Here’s the recording for you!