Facebook's Expanding Marketplace with a New Dedicated Section for Vehicles
Would it surprise you to learn that one of the most popular categories on Facebook’s Marketplace is ‘Vehicles’?
It makes sense, people are always looking for the best car deals, and with up to 18 million new listings being added to Marketplace each month in the US alone, and searches within the tool increasing 3X since the beginning of 2017, there’s clearly a lot of interest in the option.
Catering to this demand, Facebook’s adding a dedicated section of Marketplace for vehicles.
As explained by Facebook:
In the coming weeks, Marketplace will introduce features that will make it easier for car shoppers in the US to:
- Browse inventory from auto dealers through new partnerships with Edmunds, Cars.com, Auction123, CDK Global and SOCIALDEALER
- Find what they’re looking for by visiting the enhanced vehicles section and filtering listings by year, make, model, mileage, vehicle type and transmission
- See trusted car values from Kelley Blue Book
- Communicate directly with dealership representatives via Messenger, powered by chat providers like ActivEngage, CarCode, Contact At Once!, and Gubagoo
Given the popularity of Marketplace, it makes sense for Facebook to expand their options. And while, right now, Facebook doesn’t generate direct revenue from Marketplace transactions (by taking a cut or charging for ads), they are experimenting with paid options, and have been working on new additions like eBay ‘Daily Deals’, which could open the door for additional business opportunities.
Marketplace could also see significant expansion if Facebook can refine its payments process – they took a big step on this front recently with the addition of PayPal peer-to-peer payments within Messenger.
Peer-to-peer payments are obviously a perfect fit for Marketplace transactions, and it won’t be long till Facebook refines this even further to add ‘buy now’ type buttons on posts, further enhancing the tool.
And clearly Facebook does see Marketplace as an option worthy of further development – Facebook also notes that they’re testing “testing features in other Marketplace categories like jobs, event tickets, retail, and home rentals to give people more options when looking for products and services in their community.”
As the Marketplace options expand, it could become a much bigger consideration for marketers, with a range of opportunities stemming from these potential additions.
User interest is there, and Facebook’s building on capacity. It’s worth keeping an eye on Marketplace and considering potential opportunities.
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