More than 90 million small businesses connect with customers through Facebook because it's a prime spot for increasing brand awareness and building relationships. But you can also make sales directly through the platform. Have you explored your options for selling on Facebook?
There are dedicated spaces for selling, like Facebook Shop and Marketplace. Additionally, there are earning opportunities with organic and paid posts, Facebook Messenger, and groups. Learn how to sell on Facebook and why it's essential to start now.
Why businesses should sell on Facebook
Social commerce is poised to go mainstream, as Insider Intelligence expects more than half of U.S. adults to make "a purchase on social media" in 2022. Likewise, Accenture predicted that social commerce (purchases made on social media) will "grow three times as fast as traditional e-commerce." It also said that clothing, consumer electronics, and home decor are the categories that will see the most significant growth.
Building your presence and establishing your brand early can give you a head start as social commerce goes mainstream. By starting now, you can address some things that keep consumers from making a purchase.
Accenture found that "trust is the biggest barrier to adoption," reflecting buyer protection and refund concerns. It also noted that the path to adoption is how "it was for e-commerce at its beginning." Other worries include "distrusting platforms with payment information" and "being unsure if the products shown were legitimate," according to Insider Intelligence.
Develop a small business Facebook strategy that outlines opportunities in different Facebook spaces. For instance, you may open a Facebook Shop, run ads, and sell during your live streams. Small teams or physical shops may prefer Facebook Marketplace and monetizing their posts.
[Read: How to Monetize Facebook and Increase Your Social Media Revenue]
Build a Facebook Shop
It's free to open a Facebook Shop. During account creation, you'll add goods to your product catalog. These can be just a few items that you upload manually, or you can sync to your online store or upload products from a spreadsheet. Like your e-commerce site, optimized descriptions, user-generated content (UGC), and high-quality photos are essential.
Once you open a Facebook Shop, you can tag products from the catalog during a Facebook or Instagram live stream and sell through Facebook Messenger, WhatsApp, and Instagram. In each situation, customers land on your product ordering page.
Although you can sell as an individual on Facebook Marketplace, it's also a selling channel for your Facebook Shop. If you have a Shop, you can sell as a business in the Marketplace.
Run Facebook Ads
According to Meta (formerly Facebook), "Over 10 million businesses have used Facebook advertising, the majority of which are small to medium-sized businesses." Use the Ad Manager, and choose from more than 25 call-to-action (CTA) buttons, including "Shop Now," "See Menu," and "Book Now." You can also connect your ads to your Facebook Messenger account. Facebook reported that small businesses like Lalo realized "a 3x higher conversion rate when they switched to ads that click to Messenger."
Join Facebook Marketplace
Although you can sell as an individual on Facebook Marketplace, it's also a selling channel for your Facebook Shop. If you have a Shop, you can sell as a business in the Marketplace. In a 2021 first quarter earnings call, CEO Mark Zuckerberg reported that "more than one billion people visit Marketplace each month." Buyers use your shop's checkout feature for a seamless experience.
[Read: The Social Dividend: Facebook is Creating New Ways for Businesses to Sell on ‘Marketplace]
Sell during Facebook livestreams
Facebook Live connects your small business to customers in real time, allowing you to answer questions and discuss your products. With a Facebook Shop, you can feature products during your livestream and display product boxes with a CTA. If you use Facebook's Commerce Manager, livestream viewers can go to your Facebook Shop checkout page.
Earn sales from organic posts
If your sales journey requires a hands-on approach and you're not ready to embrace Facebook checkout or want to drive in-store sales, use your posts to generate sales. According to HubSpot, "Social media has a 100% higher lead-to-close rate than outbound marketing." Special promotions, limited-time offers, and giveaway entries for purchases can direct buyers to your product or landing page.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
Follow us on Instagram for more expert tips & business owners’ stories.
CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here.
