Facebook was looking for a partner to set up a global tracking program for their C2C marketplace - a platform for selling and buying in the local community that was launched in 2016. In order to measure market size accurately across very different shopping landscapes, they were willing to invest time and efforts to conduct accompanying validation studies in different markets in order to come up with an optimal measuring framework.
Since its launch, Facebook marketplace extended their service to include professional sellers (B2C). We wanted to measure market size for both C2C and B2C and thus established two monthly tracking streams for Facebook buyers and sellers. The tracker is continuously complemented by quant and qual validation studies to refine the framework and secure accurate market sizing across all markets. A few examples include:
Further side studies are utilized to further improve the overall framework.
The research program helped the client estimate market potential and get an understanding of buyer and seller segments and their needs. It eventually helped them shaping the marketing strategy for their marketplace.
Beyond this, insights gained from the validation studies were shared as best practice across the client’s research teams to optimize sampling and measuring approaches and define guidelines for future research.