According to similarweb, the average Facebook user spends 58 minutes daily on the platform.
Not here to judge anyone, but you know what’s surprising about these people? Not many of them make money off Facebook. Shocking!
I mean, how could you spend approximately 1 hour of your time on a platform every day and not make a dime from it. That’s a big opportunity lost.
Anyways, we believe you’re here today because you want to leave that category. That’s a great step, and we’re proud of you.
We’ve got some straight-outta-the-oven tips that will help you. If you have any old Facebook account you’ve deactivated, you can also reactivate that, and monetize it with the tips below. We don’t want you to leave any stone unturned. Here’s an article that will teach you how to reactivate Facebook account easily.
How to Make Money on Facebook
1. Get a Facebook Group/page and Send Traffic to Blogs
You probably know about Facebook groups already. Perhaps you even belong to a couple of them.
Can you remember a time someone dropped a site link in one of the groups you’re present in and asked you guys to kindly check the site out?
What you did back then may have seemed like a kind gesture, but guess what? You were actually making money for the link poster.
Let me show you how that works.
You create a Facebook page/group. You boost the page until it has a lot of followers. Then, you pitch to site owners looking for site traffic to have their links posted on your platform. The selling point is that you have an audience base that will love to visit their site. Once you strike the deal, you start urging your followers to kindly check the link out. The higher the number of people that click the link, the more money you make.
What do you need for this method to work?
- A Facebook group/page with a strong following
- Ability to find sites whose content aligns with the theme of your group
2. Become an Affiliate Marketer
Affiliate marketing is one of the oldest businesses on Facebook. The practice is as old as Facebook itself.
I’m sure you know about it already. Or maybe not.
Anyways, in simple terms, affiliate marketing involves marketing someone else’s product on Facebook and then getting a commission off any sales that come from your marketing effort.
In simpler terms, here’s a brief overview of affiliate marketing:
- You take someone’s product
- Post the product on your Facebook group or page
- Advertize the product to your followers
- Get people to buy the product (either directly from you or via a referral link issued by the product owner)
- Get a cut (certain percent) off the purchase price.
Sounds pretty straightforward, right? Well, that’s affiliate marketing for you.
To find customers quickly for your affiliate products, you may post on Facebook Marketplace or in ‘Buy and Sell’ groups. The latter is a kind of space where people come strictly to trade goods.
If you don’t know where to find affiliate products to promote, you can check out this list of the best niche-specific affiliate programs for beginners.
3. Become an influencer
Every major social media channel has influencing opportunities. And Facebook is no different. If you already have the audience – or you’re willing to put in the work to get lots of followers – you can make money quickly on Facebook by becoming an influencer.
Being an influencer is quite exciting because you’re your own boss. You don’t report to anyone. You don’t get grilled by anyone. You just do what you like and get paid for it. Sounds exciting, right?
There are many ways influencers make money on Facebook. Some of them include:
Facebook will gladly pay you a fee for allowing ads to be inserted into your videos. If you create long-form video content (say up to three minutes), this can be an interesting option for you. You simply create your videos; then Facebook assesses whether the video is eligible for in-stream ads. If eligible, they insert the ads, and you get paid when users watch them. Facebook says they’ll pay you around the 21st of each month for the previous month’s balanceprovided your earnings reach a balance of at least $100.
The only downside of this option is that you have to have up to 10k followers.
- Through Paid Page Subscriptions
If you have a strong following and your content is exclusive enough, you will find Facebookers who are happy to support your work with recurring monthly subscription payments. Facebook rewards these people with special badges that distinguish them from regular followers. But you can further entice followers by offering additional perks like regular freebies, discounts, etc.
Influencers also make money by running paid membership groups. A paid membership group is exactly what it sounds like – a group people pay to join.
As an influencer, it’s always easy to convince fans to join your paid groups because people always want exclusive access to their favorite influencers/celebrities.
Many brands will come knocking for paid partnerships if you can build a strong following and know how to hook an audience. You will generate income by publishing branded content for these brands. Simple as ABC.
4. Make Money from Sponsored Likes and Shares
If you have just 5k followers, people with 500 followers will approach you for sponsored likes and shares.
As you know, people are constantly looking for more likes and shares on Facebook, especially those with a meager following. When these people notice you have a large following, they will ask you to post the link to their page/group on your platform. The more likes and shares you can help them generate the more your earnings.
5. Sell Your Personal Products on Facebook
This one seems pretty straightforward already. You build a strong following, post your product and wait for someone to make an offer.
The beauty of Facebook is the concept of the product doesn’t have to be limited to physical items only. People sell digital stuff, too. Talk about ebooks, guides, e-prints, designs, app wireframes, pictures, etc.
You could create just about anything and sell it on Facebook.
6. Sell Your Facebook Page
Strang. Odd. Weird. Call it whatever you like; There’s no crime in building a Facebook page and then selling it for profit.
It’s all business.
People build Facebook pages and groups until they have lots of followers, then they sell these platforms to the highest bidder.
You, too, can do the same. You can start by identifying a niche you know people will be interested in buying Facebook pages, say fitness. Then, you start building a page in this niche to feature a strictly fitness-loving audience. Once you reach a certain number of followers, say, 10k, you put the page out for sale.
You can sell for $500, $1000, $10,000, or even more. The call is yours. There’s no fixed amount for Facebook profiles. People sell to the highest bidder.
Imagine doing this for as many Facebook profiles as possible; that’s a lot of money in one year.
7. Use Your Page to Generate Referrals
Lots of companies (especially service brands) happily reward people who send referrals their way. This can be a nice income generation route to explore if you have a strong Facebook following.
How it works is that you recommend a company’s service to your audience and then urge them to check it out. Once they click your referral link, you get rewarded by the company.
This kind of program usually comes in the form of a refer-a-friend scheme. It can be from a restaurant in your neighborhood, a SaaS company online, a startup fintech company, or a health brand running a promo campaign.
A Hypothetical Example of a Refer-a-friend Campaign
A newly launched fintech company wants more customers. So, it invites existing customers to refer a friend and get a $10 bonus.
You go into your Facebook page and ask your 7k followers to kindly use your referral link to register with the company. Luckily for you, 100 people obliged. Without breaking a sweat, you’ve made $1,000.
You can find these types of campaigns everywhere. Almost all brands offer them. For example, the popular cryptocurrency platform, Crypto.com, is offering a $50 referral bonus. The popular freelancing site, Fiverr also has a similar campaign that’s been going on for years. They reward you with a 10% bonus when your referral makes their first purchase on the platform.
Facebook is littered with several money-making opportunities. The only obstacle is the fact you need to have a strong following.
If you noticed, almost all the methods discussed require you to have a large number of followers. Without this, it may be hard to monetize Facebook.
This is why we advise most people to first build a strong following on the platform before thinking about monetization.
Published March 28th, 2022