This article is all about to earning money through facebook. With over 2.4 billion monthly active users as of 2019, Facebook continues to boast a strong, diverse and reliable user base from all over the world. The platform is resoundingly popular across all age groups, turning it into a comprehensive space for everyone to connect, socialise and stay in touch. Hence, it also possesses the ability to influence the dazzling world of social media platforms that are changing with every elapsing minute.
Over the years, Facebook has come up with numerous resources to empower individuals and businesses alike. Building an income source demands time and sincere efforts. Looking at the earning aspect of its wide-ranged spectrum, Facebook offers a number of excellent opportunities to help you make money through it, without even requiring any investment money in some.
From this consolidated list of income-generating activities on Facebook, find out what suits and interests you the most.
Also Read>>> How to Earn Money From Instagram
Selling Products in Facebook Marketplace or a Facebook Buy and Sell Group – Earning Money Through Facebook Ideas
Businesses, as well as individuals, can sell almost anything, new or used, on Facebook through its open exchange service called Facebook Marketplace. It was introduced in 2016, and today, it is used by over 800 million people every month. From gardening items to vehicles and equipment, the variety offered on Facebook Marketplace is indeed mind-boggling!
The interface of the platform is simple and user-friendly, and so, all you need to do is to get your products listed on the platform and start selling. You can even give discounts and offers to your buyers. After a few sales, Facebook provides two different badges based on how well you engage with your clientele. These badges may further instil trust in your brand, thereby leading to more sales.
Likewise, there are various user-created Buy and Sell groups on Facebook to facilitate such exchanges.
Earn through a Facebook Page – Earning Money through Facebook
Facebook specially engineered the concept of Facebook pages for businesses. These pages enable them to create a virtual store for them, showcase what they do, network, interact with customers, and foster relationships. Currently, over 60 million business pages are actively operating on Facebook.
If you already have a Facebook page with a good following, you already possess a head start. You can do sponsored posts for other brands and businesses, or even sell their products and services on your page. Keep in mind the aesthetics and vibe of your page or account, and check whether they coincide with that of the brand you are promoting. If not aligned, the sponsored post may not reap the expected results or can even fail in entirety. Study the demographics and the interests of your people and then, make the judgement.
If your page boasts a decent following, you can even sell ad spaces to bigger brands and businesses on your page. This will let you earn substantially over time.
However, if you don’t already have a page, you can build one. But, with the new algorithm designs and settings of the platform – that has significantly reduced organic reach – it shall be a little harder and consume a lot of time and energy in growing and making it successful. But, what is crucial to take note of is that you must be able to identify the niche of your page, post relevant and value-inducing content regularly, and keep imbibing creativity to engage your people.
Earn through Affiliate Marketing – Earning Money through Facebook
You can earn well through affiliate marketing or referral marketing options. In the simplest of terms, affiliate marketing refers to a marketing method in which you get a small commission amount for a sale that happens due to your digital act of selling and/or promoting products or services. How the affiliate gets paid can vary greatly. There are many advertising pricing models from which the advertiser can choose (one or multiple options): cost-per-action (CPA), cost-per-sale (CPS), cost-per-lead (CPL) and the like. You can put a monetary value on the conversions done from your end and share affiliate links.
Affiliate marketing tends to be the most effective in Facebook groups which like-minded people sharing similar objectives or purposes join. Naturally, the conversion rates turn out to be higher in a narrowed-down, target market.
However, before beginning with this, you may be required to do some researching from your end. You may wish to seek a thorough understanding of the fundamentals of affiliate marketing, the best performing affiliate products, joining or creating relevant Facebook groups, and fixing a competitive monetary value.
Earn from a Facebook Group
Facebook groups are perhaps the easiest, most effective resource made available to earn. Yet, people always end up underestimating the power of an interactive online community of people.
There are multiple ways in which one can monetise their Facebook groups. An active, strong, niche-bounded group of individuals can act as fillers in your sales pipeline. You can sell your products and services there or promote them. As discussed above, affiliate marketing tends to be the best suited for Facebook groups. One can also get paid forms and surveys filled out. However, please abide by the instructions laid out for the members to follow; some may not allow exchanges or promotional messages.
If you own the group and the group grows, you can charge a membership fee or a subscription fee from your members. You can even charge for specific bonus content that you bestow in these groups.
It is imperative to note that the members of your group, unless it is a Buy and Sell group, do not wish to be constantly spammed with promotional and sales messages. Providing your members with value-laden content and selling (or promoting) occasionally can significantly boost your earning possibilities.
Earning through Facebook Ads
In today’s day and age, the speed at which our lives run, we hardly have the time to read and grasp everything. That is exactly why video contents are booming. They are engaging, value-driven, and fun. An interesting statistic to support this argument is that Facebook garners around 8 billion video views every day! The data is enough to convince everyone that videos, today, across all social media platforms, are one of the most-viewed content pieces.
Furthermore, videos are a great tool to monetise. Such ads are called in-stream ads. They insert short ads either before, during or at the end of your videos. You can also manually choose when to include ads in your videos. How much you earn from a video ad depends on a number of factors: who chooses to advertise with you, your views and reach of the page are just a few of them.
To know whether you are eligible for monetising such ads in your videos or not, check out Facebook’s guidelines and requirements.
If you have a loyal and an active following on your page or account, and the sort of content you create suits businesses for promotions and sales, you can easily collaborate with brands, thereby generating income.
Facebook has now built a seamless process for collaborations. It also bestows with detailed insights on how the branded post is performing, dealing with the demography, your reach and the like.
A great tip is to create collaborated posts and content where the user does not feel like something is ‘sold’.
Earn from Facebook Page Likes, Shares and Comments
This is perhaps the most common and old way of earning money. The viability of this method is not just limited to Facebook; it is pervasive across social networking platforms.
Likes, shares and comments act as a testament to the overall engagement on a post. What is remarkable is, just by these indicators (of likes, shares and comments) on one post, one can easily gauge the overall reach and strength of a profile. Nevertheless, they are pivotal to any individual or page, and especially brands and businesses. And that is why you can sell them!
If you have, or can create, a network of individuals for the purpose of selling likes, shares, comments and followers, you put up a fixed price of the same. You can even approach those who sell these networks and can resell them at a higher price.
However, you would want to remain niche-specific and deliver results. Brands have, over time, fathomed the low credibility of obtaining such engagement. Therefore, researching about the sellers and picking the correct verticals are a must.
Earn by Selling Old Accounts, Pages or Groups
If you happen to have more than one account on Facebook, why not sell it? Facebook’s algorithm tends to give old accounts more push, and that is exactly what marketers and businesses need. Usually, through such accounts, the content and promotional messages automatically get more boost.
Similarly, if you own pages or have created groups with a decent number of people, you may wish to sell them, too. However, it could be tricky to put a price on the same. Creating a successful page or an active community of people is extremely difficult. Both of them are carefully cultivated over time. Therefore, you should take a balanced look at whatever you’ve built, and then, sell it.