New Facebook Marketplace Launched

Facebook has launched its new, updated Marketplace.  Facebook Marketplace is a space where users can sell their unwanted stuff.  This time the Marketplace is powered by a company with a funny name, Oodle. Despite the name they are a big online classifieds company founded by former Excite and eBay executives. Since its launch in 2005, Oodle has grown rapidly and now gets over four million unique visitors each month. Oodle is privately owner and their headquarters is in San Mateo, California.

facebook marketplace

Facebook first introduced the Marketplace application in mid-2007 as a way for people to post classified listings on the site. The idea was great, but the execution was not so.  Facebook realized this and therefore late 2008, Facebook turned to Oodle for its expertise in online classifieds. Oodle has built a completely new version of the Marketplace focused on giving people a place to buy, sell or give things away to the people they know. Only time will tell whether this incarnation is better or …worse.

If you have already tried the new Facebook Marketplace, I would love to hear your comments and views. Just click the comment hotlink at the top right corner of this post.

Promote Your Products Using Facebook

Facebook is the most popular social networking site in the world. It is one of the greatest applications alongside Twitter and MSN Live Messenger to keep up with your friends.  But did you know that you can use Facebook effectively to promote your products and/or services as well? Facebook is also an excellent vehicle to create or reinforce brand awareness.

facebook marketing

Here are two effective methods you can use Facebook for business purposes:

1. Facebook Ads. Advertising your products or services with Facebook Ads you can reach up to 200 million active Facebook users. These advertisements are the small ads you see on the right-hand side of your profile page. For some reason, I tend to get a lot of beer ads (?). As a marketer, you can advertise to your potential audience by using their age, gender, location or personal interests as a targeting factor.  You also can target people with specific keywords they have written in their profiles. This type of advertising is one of the most targeted marketing vehicles in the world! There are very few competing medias where you can use so many specific factors as how to reach your audience.

2. Fan pages. Another way of advertising on Facebook is creating a fan page about your product or service. A lot of rock bands use this method very effectively. For instance, a great Finnish Goth Rock band Nightwish have over 250,000 fans! Do you think you could do some serious marketing to that audience? Yes, you could! You can start discussions, post photos and write announcements on your page for your fans to see. You can also send official updates to all of your fans, or just a segment of your fans who, say, are female and live in Sydney Australia.