With over two billion active users worldwide, Facebook has already touched new heights by becoming the standalone social media platform which is considered to be the juggernaut of people from diverse countries and cultures. It has evolved in the last five years to such an extent that it is not only a networking platform that enables social interactions and connections but it is also providing earning opportunities of professionals and freelancers around the world.
Its latest revolution in its operational model has opened the gateway of making revenue for millions of businesses. Here are ‘Top 10 ways of making money from Facebook.’
Make money with Facebook Marketplace
Facebook has enabled its marketplace feature to encourage sellers to promote their products on FB by creating an online store.
Initially, all you need to do is to follow these steps and be a successful seller on FB
Find trending products in the market that will captivate your potential audience
Set your margins carefully so that you don’t incur loss at the end.
Select flexible shipping partners for your store.
Adjust a competitive price for your product.
Include visually appealing pictures of your products.
Post accurate descriptions of your products with no discrepancy. For e.g. – If you are selling mobile phones or laptop parts include details like model number, working condition. If you are selling fashion products, put sufficient information in the description
Facebook also offers you the option of promoting your products on buy/sell pages of various demographic locations. Through such groups, you can interact with customers from various towns and cities and pitch them the qualities of your products, why they should order your product and finally the sale price. If possible, allow discounts on your products to intrigue them. Consistently try to negotiate with the potential buyers rather than drawing an abrupt ending of your relationship with them.
Make money with Affiliate Marketing
Another way to earn money through Facebook is through affiliate marketing initiatives. E-commerce giants, such as Amazon, Walmart, have affiliate programs that provide an ideal opportunity for you to earn a percentage of each sale you refer.
Sellers have the conversion tracking code with the help of which they can easily track the number of sales occurring through your FB posts or FB links.
Here are definite ways to kick-start with affiliate marketing initiatives on Facebook and start earning money
1) Choose an affiliate product
Clickbank acts as the repository of information on affiliate products. Gain better insights into the product statistics before going ahead with the plan of promoting it on social media.
Digital products from most of the sellers pay their affiliates as high as 50% of the sale price. Although for physical products the affiliate commissions are much less. Channels like Amazon, eBay pay 4% – 15% of the Sale Price.
2) Develop an audience
Growing an audience at a steady pace is highly essential for the growth of your business. Unless you have a social media presence, your high-quality content will fail to promote your affiliate products
Start posting crisp and visually compelling content on your profile to engage more audience and increase the count of followers.
3) Promote your product(s)
Display your products in front of your followers on FB and start recommending them to order your products. If you don’t possess the desired knowledge in Facebook marketing, recruit social media planners and certified experts who are going to help you with Facebook ads and its related marketing verticals. These professionals can devise strategic advertising campaigns for your product and enable you to start making money through product sales.
Another way to promote products in is by posting product-related content in Facebook groups. Don’t try to use the same content every day as it will violate the content policy of FB and your account may face suspension for a lifetime.
For promoting designer suits, search for Facebook groups or pages related to fashion and lifestyle Make a record of the types of posts that are generating more engagements from the audience (likes, shares, and comments).
It takes a lot of effort and energy to succeed in the field of affiliate marketing. Even your resolute efforts might succumb in generating the desired result for you since you cannot guarantee any amount through affiliate marketing. You earn while you exclusively peddle a product. It’s as simple as that!
Make money with Facebook Fan Page
If you have already started thinking of earning money from FB, then consider building a fan page of your own. Produce fascinating content on your FB Page and start recording response from your followers.
You can create parody videos on entertainment, politics, sports and other topics. You record such videos on FB and start building a fan base of yours. Even memes will do the job for you as people nowadays are obsessed with content that generates banter.
Wait for your page to start receiving an impressive response from your followers and soon you will notice a steep rise in the number of likes on your FB page.
Now you have all that you need for making money from your Fan page, start selling posts on your fan page. Here, the concept of sponsored posts is introduced.
Sponsored posts are when a company pays someone with a large fan base on social media channels like Facebook, Instagram. Generally, the payment is done to promote the products of the company through such pages. The posts may be of different types a product picture with text in it, a meme, infographics, a product launch video or a promotional message.
You will act as a brand influencer for those companies and your earnings from sponsored posts will depend upon the count of your Facebook followers and how well they are engaged with your page. Businesses want to endorse their products on Facebook are ready to pay for sponsored posts because they’ll generate sales if you refer their product to your audience.
If your page represents a youth-oriented one, then you might receive proposals from various gadget-manufacturing and fashion entities, since the young generation is mostly interested in technology and fashion.
Even if you have a devoted group of followers on FB, brands will consider your page and approach you for sponsored posts.
Make money from Facebook groups
Suppose, you are a fashion designer and want to connect with a group of industry peers for the objective of supporting each other, constituting a Facebook group would be a profitable idea.
Here, you can network with a group of passionate people who are working in the same domain and looking forward to collaborating with each other for the betterment of their own businesses.
Once you start a group and add more members to your group, you can establish a Fashion community on Facebook. Start posting relevant posts in the group at least a few times a week and encourage other members to do the same.
Now, how will you earn money from such Facebook Groups?
Adeptly, there are thousands of foreign and local brands who want to advertise their newly launched products in various Facebook Groups. If you have an FB group comprising of fashion designers, fashion enthusiasts, and fashion followers, various reputed brands will approach you for promoting their products in front of an extensive set of audience in your group. The posts can be pictures, videos, business quotes or product catalogs. Various webinars and Facebook live sessions will also help you to monetize your group and gradually become the linchpin for your success.
Earn money by offering services
Making money on FB becomes extremely effective if you learn about ways for a steady income. Even if you don’t have a Facebook page for your business, it does not matter.
From your personal profile, you can offer various freelance services such as
Your friends and family members might get interested in hiring you for a service they need. By simply sharing your expertise and skills on Facebook, you can explore the vast opportunity of minting money from Facebook.
Make money by generating leads
Generally, marketing experts are of the opinion that every follower of your Facebook business page is your potential lead. However, Facebook eases the path for you by finding the right set of users who might be interested in the products or services you are offering.
Creating engaging content for your followers and by keeping them hooked to your page is a brilliant way of exploiting your fan base. If you are promoting your own website or a website of your friend or a brand, you can post links to landing pages of your website or another website and ask your fans to sign up for daily newsletters, product updates, and special offers.
With Facebook, you can also design an email opt-in form to collect their email addresses.
Once these people become subscribers of your emails, you can start broadcasting them offers and discounts alongside the information on latest products and services that your brand is offering or the brand with which you are working is offering.
This is a great way to convince them of buying expensive products from your store or your client’s store. First, you focus on selling the lower ticket products and gradually approach them with products with high price tags.
Another way for generating leads for your business is by approaching fan pages or Facebook groups that are working in the same niche and through networking methods; you can bring more people to your page or direct traffic to your website.
Earn money from Facebook apps
If you are a programmer or an expert in coding, you can choose to be a Facebook app developer in your career. Why?
Facebook has launched multiple monetization options for developers.
Here are some of them.
CPM revenue models for page-views of Facebook application canvas pages. These vary depending on who is serving the ads.
Subscription models of digital services that users of an app will pay in order to utilize them. For e.g.-in order to buy more weapons in a ‘Sniper’ game, the user has to pay additional bucks by making a payment through Facebook payment interface.
Cost per click models from Facebook Ad Networks like RockYou, SocialMedia, Lookery, VideoEgg, and more.
You can earn money by allocating a space in your app for banner ads of other companies
You can supply virtual goods of your own or from some gaming companies like EA, Zynga, Gameloft.
Earn money by selling Facebook Accounts
Selling old Facebook accounts to marketing agencies has become a recent trend. Digital agencies are buying these accounts for promoting the brands of their clients.
Similarly, selling an old Facebook group or a page with a large number of followers will help you earn a lot of money.
Earn money from Facebook marketing
If you possess the desired skills of Facebook marketing and Facebook Ad platform, you can start your career by becoming a freelance Facebook marketer.
The key responsibilities for such a job would be.
To design an effective content plan for a specific duration of time.
To analyze Facebook statistics such as engagements for each post (likes, shares & comments)
To create engaging content for the audience- both visual and textual.
To measure the daily statistics provided by Facebook Analytics platform. Such stats include daily likes, page visits, the audience reach for each post, etc.
To devise strategic marketing campaigns for the brands and find suitable ways of product promotion.
A professional Facebook marketer knows all the tricks and hacks of Facebook promotion. Their competence and skillset in handling marketing campaigns make them receive professional projects from their clients
Since Facebook is the next significant channel after Google for promoting your own brand, companies are highly targeting at converting their followers to potential leads for their business. Hence, most businesses hire experts in Facebook marketing for generating leads through Facebook and developing a brand audience simultaneously.
Earn money by opening an FB Page
Facebook is a hassle-free platform to use for most of the users. Almost every one of us is well-equipped with the nitty-gritty of FB. A section of the online population is still not familiar with the advanced functionalities of this social platform.
There are online businesses, brick and mortar stores, and individuals who lack a structured idea in how to create FB page and maintain it. They don’t run into a complex scenario of producing an FB page. If you possess sufficient knowledge of how to create FB pages and maintain them, then you can help these companies and individuals in setting up their official fan pages on FB.
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