What Are Facebook Marketplace Ads?
Facebook Marketplace gives users an easy, convenient platform to
buy and sell in their area. Thanks to expansion of Facebook
placement options, it is now possible for businesses to advertise
on Marketplace. Facebook offers placement beyond Newsfeed and
Stories, tapping into the
Marketplace audience to achieve business objectives where
people actively shop. People will see your ads alongside other
relevant products and services within Marketplace.
Why Advertise on Facebook Marketplace?
The reason why Marketplace ads are a viable choice for
advertisers is simply the difference in user intent. Users who
visit Marketplace are looking to buy something. By contrast, people
scrolling through their Facebook News Feed are not necessarily
interested in purchasing products, they want to stay up to date
with their friends and family. According the AdWeek article “Why
Facebook Is Ramping Up Marketplace with Ads”, the Marketplace
placement will most likely yield better conversion and catalog
sales results than traffic and video views ads. The article also
expects conversion campaigns in Marketplace to have better
click-through rates and lower cost-per-action numbers- while reach
objective campaigns might be limited in Marketplace, since most
users spend most of their time in the feed.
Activating Facebook Marketplace Ads
Advertisers can now select Marketplace as a placement to scale
ads across multiple platforms. With the help of automatic
placements, users have the option to enable this
feature-automatically placing ads across Facebook Newsfeed,
Facebook Marketplace, Instagram, Messenger, Instant Articles, and
Audience Network. For those who prefer more control, users can
manually edit placements by selecting where their ads will run.
With the addition of Marketplace, advertisers will be able to reach
customers where they are. A Facebook IQ study found that audiences
who saw impressions across Facebook, Instagram and Audience Network
had conversion rates of 8x higher than audiences only exposed to a
single placement on Facebook.
At Ignite, we have been testing the Marketplace placement over
the last few months. Our test results have led to efficiencies with
Marketplace, specifically for conversion campaigns. While your
Marketplace ads will target users with stronger purchase intent,
keep in mind you’ll be targeting a smaller user base. We would
recommend testing Marketplace in conjunction with your traditional
placements or conducting a split test to compare cost. It never
hurts to test and learn how new placements will impact ad
performance. So, get to testing!
Interested in learning more about our paid media services and
how we can help?
What You Need to Know about Facebook Marketplace Ads appeared
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What You Need to Know about Facebook Marketplace Ads