Facebook Marketplace sponsored listings are the latest offering from the social network, currently in testing with a limited group in the United States…
It was just a matter of time. And now, it’s here. Facebook is now giving sellers in its Marketplace the ability to sponsor listings. For those unfamiliar, Facebook Marketplace is a Craigslist-like platform where people can buy and sell items. (It’s also local-centric, just like Craigslist but not anonymous as anyone can see sellers’ profiles.)
Facebook Marketplace Sponsored Listings Debut
But, users don’t actually have to navigate to that section of Facebook to see sponsored posts. That’s because the social network will surface the posts as sponsored ads right in the News Feed. The digital site states it’s only giving this option to a small group of users in the U.S. to monitor its performance. And, Facebook likewise states it does not have immediate plans to make it more widely available.
It works much like one would imagine. Sellers can set a budget and decide how long to run their ads. The campaigns end automatically once the items sell. However, there aren’t pre-set prices for sponsored listings. Instead, all submitted entries go into Facebook’s ad auction. So, the highest bidder doesn’t necessarily receive the promotion. Facebook attempts to determine the best scenario for the sellers and the ad viewers.
Facebook unveiled Marketplace back in 2016. It came as the result of users routinely selling things through the social network, even though there was no dedicated space at that time. Recently, the platform expanded to include service providers, such as plumbers, contractors, and maids.