The thought of making money online, specifically on Facebook should seem like a pleasurable hustle. And why won’t it? Facebook is fun and successful right? So, it can get truly exciting with hopes all over the place, but the truth is it may not be a walk in the park. It will take you time and lots of effort to put in place the best ways to monetize your Facebook page. With that said though, it’s really not a dream pipe.
The human mind is not wired to pick pain as the first option, so what people often do is quit anything that gives the semblance of a struggle as a survival instinct, but this article is bespoke for you to show you that like any other business venture, you just need grit to stick to the process even if it may start slow or take time to grow.
The trick is to think about the long-term results, every dime worth having is worth working for, so here are some basic things to understand and ways on how to make money on Facebook.
Ways to Monetizing Facebook
This is all about making money on Facebook by leveraging what the platform offers, by offering value to your audience. This giant platform has over 2.79 billion monthly active users. It’s the top marketing platform that B2B and B2C businesses use. About 30 % of marketers report that Facebook gives the highest digital advertising ROI. With these kinds of statistics, it’s a no-brainer why everyone is turning to Facebook for marketing and hence, a platform to make money.
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Why Use Facebook to Earn Money? How to Make Money on Facebook?
When it started, Facebook was just a social media platform where people would reconnect or connect, but a short time after, it became a marketing medium for many businesses. This was made possible by the fact that many people spent more and more time here to catch up, learn new stuff and share ideas. Eventually, Facebook started tweaking itself into a place where people could make money.
Today, it reigns supreme among social media platforms as far as the business front is concerned. So here are some key advantages.
Source: Statista
5 Reasons Why Monetizing Your Facebook Page May Seem Easy
a. Cheaper Marketing Costs
Whether you’re an already existing business or you are just starting, Facebook advertising is quite cheap in terms of marketing. You barely need to worry about your budget limits.
This involves not having to worry about having a website, through the use of a Facebook business page where it’s possible to include all your business information as well as upload any content that you may want, all for free.
When it comes to advertising, Facebook helps you select the right audience for your business based on whether you want to be shown based on location, behavior of your potential customer, their demographics, connections or interests, all it takes is a click of what will work for you.
When it comes to paying for the ads, you can choose among many budget-friendly options to pay per click (CPC), per million (CPM). It’s also important to mention that you can at this point set your daily limit over the amount you’d like to spend.
b. Increased Brand Recognition
With Facebook being the third most visited website in the world and the biggest social media platform, it means that the hardest work has already been taken care of, you have over a billion potential clients in one place. This is the place they hang out, so what this means for you is that you can simultaneously access new customers, make yourself more familiar to the already existing customers and also, attract a nonchalant customer when they frequently recognize your brand.
c. Improves Brand Loyalty
Due to the nature of the platform, Facebook has made it easy for businesses and clients to interact. This means responding to customers is swift. This goes a long way in morphing customers into becoming loyal customers because information sharing, interaction and customer support are instant.
d. Higher Conversion Rates
With each post you share on Facebook, comes an opportunity to convert. With the right audience, you can simultaneously leverage new customers, current or recent customers as well as old customers by interacting with them at the same time. These interactions may not all result in a purchase; however, they eventually increase the likelihood of one.
This constant interaction leads to the humanization of brands, they stop being an entity and become more like people, and people love to do business with fellow people rather than entities.
e. Traffic Due to Brand Authority
If you have a website, then you may already know that your inbound traffic may be limited only to people who know of your existence. But with Facebook, your profile and the content that you post will be a path that leads visitors to your website. The better the quality, the more your audience will talk about you (shares) and the higher authority your brand will command.
f. Better Customer Insights
Facebook Audience Insights is a great tool that’s designed to enable you to learn more about your target audience. This includes the geographical, demographic as well as purchase behavior of your target audience among many more insights. You can also keep a finger on comments to see what is being said about your brand or product.
You are also able to view your content to see the one that has generated the most interest and replicate similar content for continuous results.
So, with all these benefits, you now have more reasons to learn how to make money on Facebook ads or any other option you may pick, besides, your competition is already doing it, meaning the field is ripe for you to get in. The sooner you get started the sooner you’ll start reaping these great benefits.
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First, the Basics
What’s the Difference Between Facebook Marketplace and Facebook Shop?
Facebook marketplace is like a listing of personal ads in a common place where interested customers can see, and then get in touch with the seller or owner for purchase. The marketplace doesn’t have any payment processor support or a shopping cart. It’s basically meant for users and not businesses.
Facebook Shop on the other hand is ideal for businesses because it supports transactions. Your call to action button can be attached to your Shopify store, your Amazon shop and so forth. So, it’s coherent to say that it’s more appropriate for B2C.
Who Can Make Money on Facebook?
Anybody can. True story.
What Can You Sell on Facebook?
A simpler question would be what can’t you sell on Facebook because you can sell anything except:
- Non-existent items
- Animals
- Healthcare related things
- Firearms
Where Do You Start?
The first step would be to create a Facebook account if you don’t have an existing one. Depending on whether you want it as a personal account or a business account, you must have one and you can learn how to go about it here.
The next thing would be to build your audience. This will involve identifying your area of expertise or interest and posting unique and relevant and outstanding content that will make you recognized as an expert or someone people can relate to a certain niche. It will help you build authority, and whether you will approach this s an influencer or as a product, you will require some respect in your area to gain and retain some attention. You can go here to learn more.
Best Ways to Monetize Your Facebook Page in 2023
Option 1 on Ways to Monetize with Facebook – Sell Products and Services
The great thing about Facebook is that it offers you an array of options that you can use to sell your products or services. Facebook Marketplace is one of the most popular places and the first place you may want to try.
Marketplace is a feature that enables you to conveniently buy or sell a range of items from furniture, clothing, household and even cars. And because Facebook already knows the location from which you’re logged in, it will automatically tailor a listing of buyers from your local area.
Facebook marketplace also allows you to manage messages, comments as well as questions and offers that may come from your potential buyers. To have an easier time, here are a few quick tips:
- Use very clear and appealing images
- Respond to any communication from your buyers swiftly
- Keep the titles of your posts optimized, elaborately descriptive and catchy
- Let your description be inviting, talk about the history of the product and (based on your market research) tell your customers what they want to hear
So, while Marketplace may be the most popular method of earning money on Facebook, it definitely isn’t the only method, have you heard about Facebook Groups?
These are groups that can have as many members as thousands or tens of thousands, committed to buying or selling items. These groups may be formed according to interests, where you find groups dedicated to something specific. The only difference between Marketplace and Groups is that Groups may not be as localized, which means your buyer may come from your local area or overseas.
So, you may require organizing for shipping. The advantage Groups have over the marketplace is that the buyers in this section are already interested in what you’re selling.
Facebook Groups may be private or public, if they’re public then you’re good to go, however, if they’re private you may first request to join. Some quick tips to help you when selling on Facebook Groups would be to include your location since this group may be very diverse.
Another way to sell on Facebook would be through Facebook Shop. This comes with its unique features such as the ability to add an unlimited number of items, categorize your ware, view stats of your sales, and still get to appear on Facebook Marketplace.
So, you really are spoilt for choice as to which method you may want to use to sell your products. Remember to set up payment methods such as PayPal.
Ways to Monetize on Facebook – Option 2 – Become an Influencer
There are 7.7 billion people on Earth today, 4 billion of them are using the internet and 3.2 billion of them are active on social media. This means about 42% of the entire population is active on social media. Out of these, 72% of social media users are likely to make purchases guided by social media referrals.
So, out of 4 buyers, 3 of them will search social sites to see what others are saying about the products before spending their hard-earned money. And this explains why social media influencers are playing a more and more significant role in digital marketing.
A social media influencer is an individual with a reasonable and relevant following on social media and uses this platform to express their opinions on various brands or products or services. Consequently, these opinions influence their followers.
They act as a representative of the ordinary general public and this relationship is built over time through honest reviews and discussions that are authentic.
So, How Can You Become a Facebook Influencer?
The first place you can start is by finding your niche that will form your brand. An area that you may be passionate about or skilled at, the lesser crowded it is, the better it will be for you. After finding your voice, the next step is to build the brand that represents you. This involves doing some research and finding out who the main influencers in your chosen niche are and what kind of content is getting the most engagement.
The next step would be to create stellar content and publish it regularly, remember to optimize it using the proper keywords and hashtags in order for you to be found.
How Do You Make Money on Facebook as an Influencer?
Once you’ve built your following and your brand, you can partner with brands to spread their messages in unique ways that will impact their goal. You can be a:
i. Brand Ambassador
Become a brand ambassador where you get to represent a certain brand. You may be paid a certain fee for all the content you create for them or may be paid a certain fixed amount of money for each conversion you drive.
ii. Affiliate Marketer
This is another great way how to earn money on Facebook page likes, by leveraging affiliate marketing. Here, you can approach businesses or brands that work with affiliate marketers. How this works is simple, once you’re accepted as an affiliate marketer, you’re given a unique link code that can be used to track your conversions. You then earn a commission based on how much sales you’ve been able to rake in.
What you need to do is to create quality and unique content that will be reviewing or promote the products you’re marketing. Some brands will offer you the products for free while a few others may require you to purchase with your own money.
A Facebook page will work best for affiliate marketing because it’ll offer you more compared to a profile page in terms of insights. The Facebook page insights will allow you to track how your page is performing. You can track the engagement, likes and post reach, page views and video statistics as well.
iii. Sponsored Posts
Sponsored content is another sure way to monetize on Facebook by posting links. As an influencer, your large following and popularity is what will pay off here. A business or a brand will pay you to promote their product or message or even a campaign to your followers.
The main difference between affiliate marketing and sponsored posts is that with affiliate, you’ll get paid for the sales you’ll bring in but for sponsorship, you’re paid a flat rate for reach and awareness, as long as you have participated in creating awareness through your content, you’re good to get a cheque. The big advantage of sponsorship over affiliate is that you get paid for all the time you’ve spent working for the brand, not only for the clicks or sales.
iv. Facebook Groups
Facebook groups are created for various reasons. There are two types of groups, the Open and the Closed groups. An open group means anyone can join anytime, a closed group means the membership is solely through invitation or application.
When you create your own group, you’ll be able to work as an influencer for the particular niche you’ll have picked. It could be a make-up group where people discuss everything and anything about make-up, it could be a Keto diet group, a political group or even an automobile group, whatever it is, as the group admin, you own the authority and have influence over these members.
Once you reach a certain membership let’s say like 10, 000 members, you can close this group and be the main voice of influence. Here you can earn money by selling products, reviewing products or getting paid to work in partnership with different brands in that specific niche.
Option 3 on Facebook Monetization – Make Money Through Lead Generation/ Gaining More Traffic
For most businesses, being on Facebook is not for mere pleasure. Rather, it’s for the purpose of expanding the customers’ database and your entire enterprise as a whole. Traditionally, inbound marketing required you to cast your net wider to capture more traffic; in translation meant more content more frequently.
But the ever-changing Facebook algorithm now requires a different approach, offer quality more than quantity and stand out by offering super-specific content that will resonate with your audience.
When you offer this detailed specificity, Facebook will help you target by allowing you to segment your content to different audiences.
How does this work?
Facebook’s algorithm marks the places you visit, the clicks you make, the videos you play and so forth. Then consequentially it shows you similar types of content, this is how it connects like minds even for businesses.
How will this help you earn money?
This will work best if you already have a website or an e-commerce site that’s linked to your business. The great quality content that you created earlier should lead people to click for more of that, which will lead them to your landing page where they can make a purchase or even sign up on your mailing list.
Your content may include product launches, offers such as discounts, insider reveals, “how it’s made” videos and such unique but authentic content. It’s also ok to pay for ads if you have the budget; remember, Facebook is the largest social media platform and the third most visited site in the world, people are already here! So, when you use ads, you can segment your target into their interests and demographics and your message will land to people who are already showing some interest in what you have to offer.
Once you’ve gotten the attention you wanted, keep them interested and give them reasons to come back for more. The discounts, the offers, free e-books etc. will help you keep selling. And getting more leads.
Make Money on Facebook – Option 4 – Offer Facebook Management or Consultation Services
You have probably heard the terms social media manager or marketer or consultant, basically, they all do the same job. This approach of earning money on Facebook requires you to be flexible enough to fit into your client’s requirements. That said, the overall goal of a Facebook consultant or manager is to create brand awareness for your client and get paid for it.
This involves sharing relevant content with their target audience and engaging them with helpful wholesome conversations to build and maintain their following.
Some of the responsibilities that you may be required to perform include
- Day-to-day management of your client’s Facebook account, blog and landing pages
- Content creation that will help grow and maintain the social network
- Come up with strategies and campaigns that will help build a brand’s awareness
- Drive engagement with Facebook influencers
- Review the success of marketing strategies and campaigns and come up with ways to improve them
Being a Facebook consultant may require you to be savvy with other social media platforms as well, this is because most businesses run more than one social media account and they may need you to manage all of them. It’s an interesting way to monetize your Facebook page in 2023 and the best part is that you may do it part-time, or full-time if you are able to get several brands to work with.
Option 5 on Ways to Monetize Facebook – Make Money on Facebook Videos
For a long time, only YouTube videos could be monetized. But Facebook has since changed that narrative and the question now is not whether you can monetize Facebook videos, but how to make money from Facebook videos, because it’s now possible. And it’s through the Facebook Ad Breaks.
If you’re a passionate creator, then this is for you. Facebook, however, requires you to pass the following eligibility standards:
- You must have a Facebook Page with at least 10,000 followers
- You must pass their monetization eligibility standards that you can review here
- Have been creating over 3-minute-long videos with over 30,000 one-minute views
These requirements may seem quite like some hard work but worry not, you can do it.
So, the way you earn money is that ads are placed in breaks within your video, you can choose where to break for the ad. But the ads are added automatically on any new video that you post with the provision that you can pick where you want the break to be. And you get paid for each ad. So, besides the eligibility standards that may be a bit of a task for a beginner, it’s really a great way to earn from Facebook.
Conclusion
There are many effective and legitimate ways to monetize your Facebook page by posting links or getting likes. The trick is to offer authentic quality and unique content that will build your organic reach that will eventually lead to your goal, be it conversions or awareness.
Facebook offers a myriad of options to use such as Marketplace, Facebook groups, Facebook Shop and Ad Breaks for videos. Whether you want to be an influencer, a consultant or just a trader, you have many ways to track your efforts and know how well or not you’re doing. So, go ahead and start earning.
