Facebook has taken some lumps during a tumultuous year. After weeks of being dragged through the mud with scandals involving data privacy, the company suffered its worst day in its history as a publicly traded firm after announcing quarterly earnings that fell short of Wall Street’s expectations.
But the news is not all bad.
Amid the turmoil, Facebook is actually growing in some ways that are less visible to Wall Street. For example, Facebook Marketplace, which Facebook relaunched in 2016, is experiencing strong growth. Already, 550 million people across 51 countries use Marketplace each month to buy products from other people and business. By contrast, 55 million people visit Craigslist monthly.
And Marketplace is attracting more and more large businesses from sectors such as automotive. Based on the traction Marketplace is getting, Facebook recently announced that it is making it possible for businesses to advertise in Facebook Marketplace to reach people where they are actively shopping.
At True Interactive, we are helping businesses take advantage of Marketplace advertising. We just tested a conversion campaign for a client and achieved favorable results. In a new column for Adweek Social Pro Daily, I discuss our experiences with Facebook Marketplace and provide more insight into the growth of this feature.
For more insight into how to succeed on Marketplace and other online destinations, contact True Interactive. We are here to help.