Turns out that Facebook announcements aren’t just about bad news for brands and businesses. After pissing out business owners around the world by announcing the reduction of organic reach for brands, there’s finally some good news for small business owners.
Facebook Ads in Marketplace
Until now, businesses have been prohibited from advertising inside the selling and buying platform (Facebook Marketplace) since the release of the service in 2016. The wait is finally over for businesses, as Facebook just announced that Marketplace can now include ads designed to run in the News Feed section and other parts of the Facebook platform.
As you can see, they managed to integrate the ads quite well with the rest of the content that is typically displayed inside Marketplace. And the results seem to look very promising – up to 2.2x greater return on ad spend with some businesses that have participated in the testing phase.
In the official statement regarding the introduction of ads inside the Marketplace, the tech giant boasts some impressive results reported by some businesses that were already permitted to use ads inside the Marketplace:
Businesses are already seeing results using ads in Marketplace. Thread Wallets, an accessories company, generated more than 300 purchases while increasing its year-over-year return on ad spend by 41% after adding Marketplace as a placement for its conversions campaigns.
But don’t go thinking that this is an unexpected revelation. In fact, Facebook has been testing various ways to monetize the Marketplace platform ever since it was originally released in 2016. In addition to this, Facebook is also testing the possibility of letting users run promoted listings inside Marketplace – very similar to how promoted posts work inside News Feed.
How to create an Ad for Marketplace
Choosing to include ads inside Marketplace is as simple as selecting the Automatic Placement. If you choose Automatic Placement, your ads can appear inside the Marketplaces as well as on Messenger, Instagram, Facebook Audience and News Feed – depending on where they perform best.
Here’s the full guide on creating an ad designed to run inside the Marketplace platform:
- Go to Ads Manager set Traffic, Reach, Conversions, Catalog sales or Video views as the objective and hit the Continue button.
- Choose the destination of the ad.
- Select the audience and set your targeting approach.
- Next, make sure Automatic Placements is selected. You can also click on Edit Placements and make sure that Marketplace is selected.
- Define the schedule and set your campaign budget.
- Choose the creative format of the ad.
- Once the campaign is all is set up, click on Done and then on Place Order.
Keep in mind that right now only US and Canada advertisers can run ads in the Marketplace platform. However, Facebook is set to expand this new feature to Australia and New Zealand in the coming weeks. Facebook assured that this new feature will slowly become a global norm.