Capterra Glossary
Facebook Marketplace
Facebook Marketplace is a digital marketplace hosted by social media platform Facebook. Facebook Marketplace users are able to buy, sell, and trade items with people in their local area. Facebook Marketplace users facilitate all monetary transactions or trades, relieving Facebook of any legal responsibilities. All users must have an active Facebook account to access Facebook Marketplace.
What Small and Midsize Businesses Need to Know About Facebook Marketplace
Unlike other third-party marketplaces, Facebook Marketplace allows businesses to create and manage their product and service listings for no additional costs. This is ideal for small and midsize businesses with limited resources. Since the Marketplace operates on Facebook, businesses can easily use Facebook Messenger to aid the customer service process by quickly responding to customer inquiries in-app. This helps small and midsize businesses lock down sales leads before interest is lost in the products and services their company offers.