Free listing of Products and services in Facebook and WhatsApp groups & communities. These are slow but effective market trends. Eating local business listing and free classified.
Most of the classified business is not as easy as simple in Social media AD post for product Sell/Buy and services. For a Business listing and free classified website now started paid advertisement model.
As we see free classified and business listing portals have many numbers of listing in a day. That much listing is critical to highlight free Ads, so if you want to be in the top or highlighted you need to pay for that. Means without Paid ads product selling/ buying and promotion will take time.
How Facebook and WhatsApp killing free classifieds and Business listing portal?
Yes, it is right that we found online groups and community there is millions of subscriber. Recently we see many WhatsApp groups are created for Buy Sell old items. Like an old car, BuySelloldbikes and lots more. Buyers and seller continuously commenting and share valuable feedback and doing regular transactions. Many others are using WhatsApp for business and connecting their projected customers.
Apart from WhatsApp, Telegram is one of the biggest market places and growing. There is an option to create groups with beyond limits for groups as compared to Whatsapp.
Facebook Market Place
The tag line is Buy and Sell with Your Local Community launched in the year 2016.
Recently we see that Marketplace grows so fast. Facebook Market place help Facebook to engage more subscriber in its portal.
After integration of this feature, we observe that its killing Free Classified business.
There are thousands of different groups available for promotion and buy-sell. As per the Facebook article, More than 450 million people visit buy and sell groups each month. From families in a local neighborhood to collectors around the world.
Facebook has open a door of revolution for Start-up and SME’s. Where they can promote, Sell and buy their products and services. Now no need to post an advertisement in different Classifieds and free advertisement websites. Facebook now not only just social media.
As we said above WhatsApp have a limit for 256 group members in a single group. Recently WhatsApp for the business has been launched. Now business owner is creating different groups product and segment. As we see WhatsApp now available in every smartphone and this model helping for all.
So the business owner and personal users now preferring its use to sell old things. Buyers are already known frauds chances are less.
Telegram Channel / Groups
Telegram is a social media app like WhatsApp. There is no limit or extended limits for Groups and Channels. In Telegram have 10 lac limit to create a channel or groups. And there is provision to hide your contact information and create your channel or group. Many buy-sell and service and knowledge-based Channel / Groups are already available in Telegram. These groups can be searched and join easily.
Google My Business / Google local
This is a listing aimed towards local businesses. Where users can get place recommendations, publish their own photos and reviews. View a business with posts and other useful information. Google local will allows you to post your advertisement for buy-sell, promotion. Basically, it will work like a Business listing purposes. So google local is an alarm for business listing websites.
OLX, Quikr and MyAdSite.in have a leadership in the Free Classified listings category.
“India is a key early market for OLX, in which we had to deploy significant capital in the last fiscal years. This investment has been put to very good use by out-executing our main competitor, Quikr,” Martin Scheepbouwer, CEO (classifieds business), Naspers.
What are the challenges of Free Classified and Business listing Businesses?
As we said Free classified model companies now trying to expand its business. In the last few years Quikr, MyAdSite and olx trying to connect local/physical market place. Recently we see Car24 eat the largest market of both the free classified portal.
Even these all the free classified and Business listing website. These companies now reviving their business as per IOT trends. But still, these business struggling for profit margin.
Fraud and cheat are major concerns for all the business. In recent years, we see that largest number of theft and cheaters increased. Business listing website is also struggling due to the google marketplace. Now people not spending time to search for the business on these websites. Just typing and searching in Google saying Doctors near me.