Facebook launched Marketplace for Australian car dealerships in Nov 2018. In just 1 year 3 months, it has skyrocketed in popularity and now has the second-highest number of vehicle listings among online advertisers.
Facebook has also identified ‘vehicles’ as one of the most popular searches on Marketplace. Advertising here lets you reach hundreds-of-thousands of people already looking to buy vehicles.
Does Marketplace provide high-quality leads?
There’s a general perception that Marketplace does not produce good quality leads. That it has a lot of time consuming “tyre kickers”. Almost all advertisers have this problem. But since Marketplace delivers the biggest volume of leads, it’s easier to notice it.
Let’s put this in perspective –
In 2019, EasyCars dealers received an average of 645 leads each dealer. Broken down, each dealer received an average of 53 leads each month. Even if 85% of these leads were trash and just 15% were genuine, that’s 8 solid leads every month from Facebook alone.
Imagine if you converted just 2 of these 8 solid leads. You’d have the potential to earn thousands of dollars more in profit without paying for an individual lead. Facebook doesn’t charge for incoming leads. This is what makes it different from other advertisers who charge you thousands of dollars through monthly packages and ‘per lead’ costs.
What do I do about the tyre kickers?
Firstly, it’s important to recognise that tyre kickers use Marketplace and plenty of other advertisers too. They do it because they have time on their hands, unlike you!
The good news is there are ways to work it out and cut these bad leads out quickly, so you don’t miss out on the sales opportunity Marketplace brings to your dealership.
How can you make this easier? A real-time Messenger service puts you in touch directly with the prospect. You can start asking detailed questions the minute you get a request. This lets you identify between good and bad leads faster – letting you use your time more efficiently.
Why should I get Facebook Marketplace with instant messaging?
There’s enough data to prove 78% buyers purchase from the first seller to respond. This is a huge reason to connect with the lead before competition. Instant messaging helps you do that!
Some providers offer Marketplace without charge. This may sound great, initially. Unfortunately, they do not offer instant messaging. The lead goes into someone else’s database before it comes to your email. You’ll fail to contact the lead first and will likely lose the sale. If you measured a ‘lost sale’ in dollar value, this could mean thousands every month.
Very few providers give you the full benefit of Facebook Marketplace with real-time Messenger. This means that any lead comes straight to you in Messenger. You message the lead as soon as it comes in and talk to them before everyone else, helping you cut out the bad ones much faster.
Facebook Marketplace is an amazing and cost-effective advertising opportunity for dealers who are frustrated with having to pay too much for leads from mainstream advertisers.
Still need a little more information? Take a look at this video.
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