Facebook has 2.85 billion monthly active users. This makes it the perfect place to network and generate residual income.
In fact, many Facebook pages like Sarcasm, Buzzfeed, WorldLifestyle, etc, are already making thousands of dollars every month.
Want to find out how exactly they did this? Check out these great tips to make money on Facebook…
1. Sell Physical Products Using Facebook Marketplace
Now that we’re talking about making money on Facebook, marketplace is the first thing we should know about.
After all, it’s a popular platform where it’s easy to sell or buy products by filtering by price, category, and location.
Most people nowadays sell their used items on Facebook Marketplaces. So, if you’ve got something that isn’t useful to you, you might start making money from its marketplace right away.
There are no fees to sell, unlike on other sales based platforms. Although this does mean you’re at more risk of falling victim to scams and such like.
Also, you will need to be responsive to contact and handle transactions yourself.
2. Affiliate Marketing
Affiliate marketing has been making rounds on the internet lately. All that is involved is recommending people’s products.
The greatest perk is that you can do it without investing money for production or purchasing.
These days we have Clickbank, Impact, AWIN, JV Zoo, and many other affiliate marketing platforms where you can team up with vendors to earn a good commission.
It helps if you have a good following, as ‘influencers’ are more likely to make a good income from affiliate marketing.
You can also reach out to business owners around you and ask them if they’d like you to resell their products for commission. By merely recommending products, you can make a few hundreds of dollars monthly – or more if you find your niche.
So far we’ve seen that most influential affiliate marketers sell products via Facebook Ads. And to make that happen, they either hire great copywriters or train themselves to write persuasive ads that convert.
3. Rent out Space on Your Group or Page
A group or page with a lot of traffic is often targeted by businesses that try to promote their products.
If placing a few ads doesn’t seem to affect your page or group negatively, you can start charging a fixed fee for this.
For example, you can charge $100 a week to pin a product. And another $50 for the cover photo section.
But yes, the price can go up and lower. It all depends on your negotiation skills and the traffic.
4. Drive Traffic to Website Using Viral Marketing Strategies
It takes around 3 to 12 months to drive traffic from SEO. In that case, most startups leverage viral marketing tactics.
In 2014, Always was able to get 200K likes with an emotional viral marketing strategy.
Their ‘Like A Girl’ hashtag tried to bring a new perception about how girls should be. In the video they made, they asked how girls walk, fight, or throw like a girl.
And they all acted in a humiliating way – as if there’s a fixed criteria for these actions.
On the other hand, they asked young girls to do the same. Guess what? They did it normally without doing much acting.
Basically the message behind this was – the world taught girls to be weak or underperforming.
As a result, they were able to drive 62 million views on YouTube and touched the hearts of many lives.
5. Monetize Your Facebook Videos
Just like YouTube, Facebook is also letting some creators earn from monetization. You can place ads at the start, middle, or end of the videos.
The ad revenue is split between Facebook and the creator. As per Facebook policies, the company gets 45% of the revenue and the creator gets 55%.
To know whether your Facebook page is eligible for monetization, try this:
This might sound a little weird because subscriptions are often not associated with Facebook.
At the moment, there are over 100,000 creators offering exclusive content to their followers. So the flexibility of this option makes it worthwhile.
However, it should be noted that this feature is reserved for a few people who meet the creator requirement.
To qualify, you must first of all own a page with a really large following, at least 10,000.
Creators are notified on Facebook or via an email when they qualify. If they fulfill the extra requirements like filling the necessary payment details, the page will be configured to accept subscriptions.