In a recent study from Business Insider, it was discovered that 27% of users on Facebook are interested in buying or selling second-hand goods with the launch of their new Marketplace feature. And for good reason. The value and potential of online marketplaces is vast, with a report from Digital Research projecting the global e-commerce market will be worth $32 billion by 2021.
However, while these numbers prove that there is growing interest in the space, there are also some limitations to using Facebook as a marketplace. As an alternative to creating a standalone site, many businesses have struggled to leverage Facebook’s new feature for selling used items among friends.
In this blog post, we’ll cover seven mistakes people make when trying to sell on Facebook Marketplace so that you can avoid them and succeed tomorrow.
1. People Don’t Know What to Expect
One of the biggest issues surrounding Facebook Marketplace is that the experience is different for each user. This is a result of the fact that people are selling to their friends, meaning that they are targeting a different demographic than on an online forum.
Because of this, sellers may not know what to expect based on their experience selling on other marketplaces. While many features will be the same, there will be a few differences that could cause issues for someone who is new to the space.
2. People Are Incorrectly Properting Their Items
One of the most common mistakes people are making when selling on Facebook Marketplace is improper product description. This includes the title, description, and photos of an item. For example, if you’re selling a couch, it’s important to properly describe it as a couch and not as a couch and a loveseat.
Otherwise, you could confuse your customer and lead them to believe your item is something it’s not. With that said, you don’t want to overcomplicate your title and description either.
3. People Don’t Communicate the Condition of Their Item
Another mistake people are making with their product descriptions is failing to communicate the condition of an item. If you’re selling a couch, for example, it’s important to communicate whether or not it is tear-free and stain-free.
Otherwise, you could lead your customer to believe it’s in a good condition when it’s actually in bad condition and they could end up being unpleasantly surprised.
4. People are Improperly Pricing Their Items
A mistake that is often made when selling on Facebook Marketplace is improperly pricing an item. While you may be tempted to undercut the competition in hopes of attracting buyers, you should avoid this at all costs.
As a general rule, you should price your goods between 10% to 20% above what you’d expect to pay at a retail store (e.g. if a similar item is $200, you’d want to price yours at $250). If you’re unsure of the price you should set, you can always ask others what they would pay for it.
5. People Are Repackaging and Reselling Used Goods as New
Another mistake that is commonly made is repackaging and reselling used goods as new. While we understand that you might be tempted to sell goods as new, this is frowned upon and could result in a suspension of your account.
If you’re selling goods that are used, you should be upfront about this in your product description.
6. People Are Using It to Sell Buyers Short By Selling Below Market Value
A mistake that is often made by sellers on Facebook Marketplace is selling below market value. While we understand that you might be tempted to sell your goods below market value, this is frowned upon and could result in a suspension of your account. If you’re looking to attract buyers and make sales, you should avoid selling items below the average market value.
7. People Don’t Understand How Facebook Marketplace Works
A mistake that is often made by sellers on Facebook Marketplace is not understanding how the feature works. While it is similar to other online marketplaces, it has its own unique features that could lead you to make an error in judgement.
While they are rare, it’s important to understand how payments, shipping, and communication with buyers works on Facebook Marketplace.
8. People Are Misleading in Their Descriptions
A mistake that is commonly made is misleading in your product descriptions. While you want to market your goods and be truthful about the product, you don’t want to mislead potential customers about what you’re selling. For example, if you’re selling a used couch, don’t say that it’s new.
9. People Are Not Including Exact Prices
One of the biggest mistakes people are making when selling on Facebook Marketplace is not including exact prices. While you should include a price range, it’s important to note that people expect to see the exact price of an item.
10. People Aren’t Mentioning the Condition of their Goods
Another mistake people are making is not mentioning the condition of their goods. While it’s important to be truthful about the condition of your item, it’s also important to be transparent and upfront about this. If you don’t mention the condition of your goods, buyers won’t know what they’re getting into and could be unpleasantly surprised after receiving the item.