It’s no secret that Facebook marketplace has become one of the most frequented online marketplaces in the world, and especially in the U.S. Today, more than 1 in 3 people on Facebook in the US use Marketplace to buy and sell things.
Marketplace is also among the most popular places in the US to shop online for used vehicles, with more than 20 million people clicking on vehicle listings every month. The dealer benefits of listing on Marketplace include:
When you consider the popularity of Facebook Marketplace for consumers to buy and sell vehicles, whether it is with a licensed dealer or private party, why should dealers limit the use of Marketplace to only listing their vehicles for sale?
In other words, why not utilize the popular online marketplace to ACQUIRE vehicles from private party sellers listing their vehicles for sale in Facebook Marketplace? After all, we are in a precarious time right now where used vehicle supply for dealers is tight and wholesale prices are high.
Use Facebook Marketplace to Acquire Used Vehicles from Private Party Sellers
One dealership that not only understands the opportunity at hand but has been taking advantage of it is Bo Beuckman Ford in St. Louis, Missouri. Led by Used Car Manager Brent Faron who recently spoke with us in our monthly Best Practices and Training Webinar, this Ford dealership has seen tremendous success acquiring used vehicles from private party sellers listing their vehicles in Facebook Marketplace.
“Our business is family-oriented,” Faron says. “We have a very good reputation within the community and aren’t afraid to message private party sellers directly on Facebook from our own personal profiles.”
When asked what helps Brent and his team be successful on Facebook, Faron explains, “We tell people straight out who we are and what we do and we give actual values for vehicles, not ranges. We ask a few simple questions and offer upfront fair and reasonable prices for their vehicles.”
Treatment Outweighs the Platform
Faron is not the only one who understands the significance of Facebook Marketplace and the importance of transparency and treating people right. Aaron Gomez from KMG Management points out something that Brent touched which is “extremely powerful.”
“No matter what the platform is,” says Gomez, “although it seems to really resonate with people on Facebook, the more transparent you can be with customers and the people you are doing business with - it’s going to yield better results.”
As you can hear from Aaron in the video, “Anyone who's adapting these processes and treating their customers like family is going to see immediate results on any platform, and especially in
Facebook Marketplace.”
“We are in a time,” he says, “where social media is very important to our success and business and if you've got a great reputation and you're doing what you say you're doing and standing by your product, then you make an honest offer you buy a car.”
Like Brent said, “more often than not this results in referrals and retail deals and acquisitions. It's a really exciting time to be adept in these processes.”