There are numerous ways to make money online, and while some of them may require a lot of effort, others may provide you with a passive income stream you can use to fund your retirement or lifestyle. One such way is to make money from Facebook. While the social media network has a whole section of ads you can take advantage of, you can also use the platform to create and sell your own products. In fact, many successful businesses exist solely as an outcome of a Facebook user creating and selling a product or service through the social media network.
The Power of The Facebook Marketplace
Forbes recently released a report card on the 50 largest online marketplaces, and Facebook’s marketplace was rated as the 4th largest. To give you some perspective on the size of the marketplace, Amazon is ranked 1st, Alibaba 2nd, and Apple 3rd. Within the marketplace, you will find a variety of different products, ranging from food and drink to electronics and appliances. If you’re unfamiliar, the marketplace is a space on your Facebook page where you can post products that other users can then click on and purchase. It’s a win-win for both parties. You get paid for the product you posted, and the customer gets the product they want at a discounted price. It’s like Craigslist meets Amazon meet QuikTrip.
As a Facebook marketplace seller, you’ll need to build a following on the platform, which means you’ll either need to find a niche that people will get interested in or create a money-making product that people will want to purchase. Let’s look at each step.
Find A Product To Sell
The first step to becoming a successful Facebook marketplace seller is to find a product that has enough demand to make it worth your while. If you’re unsure about whether or not your product will sell, you can use tools like Google Trends to easily locate the popularity of any niche or trending topic. With this information, you can easily find the demand for your product and determine whether or not it’s profitable to sell. For example, if you’ve noticed a surge in interest in vlogging (video blogging), you may consider creating a product around vlogging and using the platform to sell it. Or, if you notice that people are interested in purchasing organic food, you may decide to create a product around that niche and use the platform to sell it.
Create A Facebook Page For Your Product
Once you’ve determined that your product is worth selling, it’s time to create a Facebook page for that product. When creating a Facebook page for your product, you will need to use a company or personal Facebook page for marketing. Ideally, you’ll want to create a Facebook page for your product that has a decent amount of Likes to signify that it’s popular enough to be worth selling. (In case you’re wondering, the Like button is a tiny rectangle at the end of your status update that lets your followers know you’ve liked their page.)
When you’ve finally decided that you want to try selling your product and signed up for the Facebook marketplace, you will be presented with a small thumbnail image of your product when you log into your Facebook account. This image will serve as your avatar and as the image that shows up when you post in status updates, games, or other parts of your business’ Facebook page. (You can choose your own avatar, but it must be a square image.) To make money online, you’ll need to set the price for your product in USD (United States Dollars).
When setting the price for your product, you’ll need to take into consideration several factors. First, you’ll need to consider what your competitors are selling your product for. If you set the price too high, you may lose out on potential customers who are looking for a cheaper alternative. Second, you’ll want to set the price at a level that is feasible for you to make a profit. (More on that in a moment.) Third, you’ll want to price your product at a level that is competitive with other products in your niche. Setting the price too high may cause your product to become not attractive enough for customers, while setting the price too low may cause you to lose out on potential sales.
Promote Your Facebook Page
Once you’ve set the price for your product and created a Facebook page for it, it’s time to start promoting it. Similar to how you would promote a physical product, you’ll need to use various platforms to drive traffic to your page. For example, you may want to try cross-posting on Twitter and Instagram, or you may even want to create videos to post on YouTube. When you use various social media platforms to promote your Facebook page, you create a viral loop that will help establish your product as a trusted source in your niche. (If you’ve never used virals, it’s time to start. The concept is simple: you’ll create content that draws attention and encourages people to spread the word about your product or service. In return, you’ll get a cut of the profits.)
Product Photos
When someone visits your Facebook page and clicks on your product’s thumbnail, they’ll be taken to a product detail page where they can learn about your product, see its photos, and place an order if they’d like. Similar to how you would set the description for a product description on a physical product page, you’ll want to put thought into the photos you use for your Facebook page. Photos that are actionable (i.e. instructional or showcasing how to use your product) may generate the most interest from potential customers. In addition, make sure to use high-quality photos that don’t blur or contain too much noise so that they’re readable. When designing your product’s photos, you’ll want to keep in mind the rule of thirds. This rule states that for any scene in a photo, you need to include at least three of the following elements: the subject, the action, the object, and the environment. (You can learn a lot about photo composition and design by checking out the work of highly skilled photographers and designers like Oliver Kimball, Keren Kwek, and Rishi Kapila.)
Product Description
On the product description page, you’ll want to use the short description you used to set the price for your product and also include a longer description that is more in-depth and uses bullet points to provide the reader with quick and easy information regarding your product. Here’s the difference between a short description and a longer description: a short description is just enough to hook new customers while a longer description is more like a mini manual that provides more information about your product. You’ll want to keep the description to a single page, unless you have a very long product that needs several pages to describe. Generally, a single page is a good starting point.
Shipping Details
On your product detail page, you’ll want to include all the important information concerning the delivery of your product. This information includes the shipping costs (both flat rate and percentage of sale for local pickups), the estimated delivery time, and the method of payment. You may also want to include a review or rating from an authentic source. (These are all optional elements.)