A new placement for advertisers to reach potential customers has been added to Facebook. Advertisers will now be able to place ads in the Marketplace. This is something that could have great potential depending on your product. The additional placement has some immediate benefits for the advertising community!
With more and more people advertising on Facebook the space for ad placements is limited. This addition should help clear some clutter from Facebook’s news feed. This is an immediate benefit to the addition. Now let’s take a look at Facebook’s Marketplace and what it is all about.
Facebook came out with Marketplace in 2016. Consider Marketplace Facebook’s version of Craigslist (only a lot more up to date and useful). Marketplace allows Facebook users to list items they want to sell. Buyers can then search for items based on category, price, or location.
Let’s take a closer look to see how to use Marketplace as a placement and what some benefits may be from this addition.
Marketplace as a Placement
It should be noted that this placement may not be available to everyone and there is no current timeline of when it will be available globally. This placement will also only show up on mobile devices.
In order to access the Marketplace placement, you must first select from Traffic, Conversions, or Catalog Sales objectives. At the moment no other objectives are eligible for this placement. Note: for Traffic or Conversions, you must have a “Shop Now” button on your page. (link to shop now button on FB business)
To select Facebook Marketplace as a placement select “edit placements” at the ad set level.
As of now, you can only select the Marketplace option in addition to the news feed. So split testing against the news feed placement is out of the question. As an advertiser, you should also be aware that videos are not supported by the Marketplace option. Creative options are limited to single images or carousel.
Specs should follow as normal:
- Single Image: 1200 x 628, 1.9:1 aspect ratio
- Carousel: 600 x 600, 1:1 aspect ratio
Trust the Data
Like always we recommend testing this placement and seeing what your results are. You will never know unless you give it a shot! If you are wondering how your marketplace ad placement is performing check it out in the ad reporting breakdown like so:
Marketplace Ad Placement Predictions
It is unknown to the effect the marketplace ad placement addition will have. When you think about the placement from a marketing standpoint there seems to be potential. Visitors in the Marketplace are in the buying frame of mind. This may not be the case when scrolling through the news feed.
It would make sense to think conversion ads will have greater success in the Marketplace as opposed to ads with a traffic objective. Will Marketplace placement have higher objectives because the audience is in a purchased frame of mind? It makes sense to think so!
There is only one way to answer these questions. Try new things, be creative, split test, and give everything a chance! Have you seen any positive or negative impacts with the marketplace ad placement? Comment below and let us know!