Facebook will soon start monetizing its Marketplace by letting users pay to promote their own listings nearby.
Almost two years after launching Marketplace, Facebook is giving users the ability to pay to promote their listings. It is the first time the platform allows users to boost their own posts since it retired the personal post boosting feature almost five years ago.
Marketplace ads will offer a simplistic approach to targeting, with buyers only required to set a budget and how long the ads will run. The ads will automatically be optimized for clicks and will only be shown to users aged 18 and above, in nearby areas.
Despite the lack of audience targeting, like gender, for example, Facebook says that ads will still be optimized: as soon as people start clicking on your Marketplace ads, Facebook will automatically target users similar to them.
Your Marketplace ads will also be automatically stopped if your mark your item as sold, independently of any remaining days or budget left in your campaign.
Facebook Product Manager Harshit Agarwal told TechCrunch that “Many Marketplace sellers have told us that they want the ability to show a listing to more people in their local area, especially if they’re trying to sell it quickly.”
Note that Facebook will not allow boosting of listings of political products. Marketplace ads are currently being tested in the U.S. and Facebook will eventually roll them out to more countries if the test is successful.
You might also like
More from Facebook
Meta Refreshes Facebook Groups With New Features
Facebook Groups now have an updated invitation system to reduce admin workloads and limit sharing of misinformation.
Meta Offers Digital Security Course For Journalists And Human Rights Defenders
The Meta Journalism Project and the ICFJ have put together a self-paced 90-minute course and webinars to provide online safety …
Facebook Tests New Desktop Layout Redesign
Reports say that some users are starting to see a new Facebook desktop layout, with all options listed on a …
Meta May Soon Alert You When Your Posts Are Removed By AI
According to reports, Meta is rolling out a system that notifies users when their posts are removed and how.
Meta Is Working On A Universal Speech Translator
Meta's latest AI project seeks to extend advanced translation options to lesser-used languages and to develop a universal speech translator.
Instagram Retires Boomerang And Hyperlapse Standalone Apps
Boomerang and Hyperlapse standalone apps have been removed from app stores as their functionality is already available within Reels.
Meta Demos Voice Controlled Builder Bot That Creates VR Spaces
Meta's latest AI research introduces a prototype technology capable of generating immersive objects through voice commands only.
Facebook Is Removing The Ability To Create Profile Frames
As part of its efforts to continue banning anti-vax messages, Meta is removing the ability for users to create frames.
Facebook Is About To Shut Down Campus
Facebook has informed users via an in-app message that it will be shutting down Campus - its college-focused social network.
