Facebook provides ample opportunities for you to make loads of money.
Whether you’re a marketer, content creator, business owner, or just a user, you can harness the potential of the Facebook network to earn money.
The stats reveal that Facebook, the biggest social networking platform, clocked 2.7 billion monthly active users as of the second quarter of 2020.
Four out of five people you know may be using Facebook every day for various purposes – socializing, networking, consuming content, trading, etc.
And there may be people in your friend list who may be your potential clients.
All you need to do is prepare a business model and engage more on the platform.
But how can you find an opportunity to monetize your engagement on Facebook? What role can you assume and what value can you offer that’ll help you earn money?
Here I show you practical ways to generate income using Facebook. Check out these money-making strategies that you can implement right away without much effort.
1. Start Selling from your Personal Profile
Let’s begin with the easiest step to make money on Facebook – using your personal profile to sell products or services.
Literally, anyone can use this strategy to make money from anywhere and anytime. It does not require much effort, only a Facebook profile complete in all aspects (profile picture, description, contact information, etc.).
It’s an effective strategy for you because:
- You already are friends – or can connect – with people on Facebook who’d like to buy from you
- You can easily establish trust and convert prospects into clients since you can communicate directly with people
- It’s easy to promote your products or services by simply posting different forms of content from your Facebook profile
For example, if you are a home-based baker who prepares cakes on order, you can promote your offerings on Facebook. You can post pictures, videos, and more to convey your message.
The same holds for an artist, retailer, teacher, nutritionist, or someone who can add value in people’s lives.
2. Run Affiliate Marketing Campaigns
There are various ways to promote products and services on Facebook as an affiliate marketer.
Some of the best ways are:
- Sharing affiliate links with your audience via Facebook profile, page, and group
- Inserting affiliate links in posts, video content, chats, etc.
- Launch affiliate marketing campaigns to drive traffic to landing pages like blog, website, and product page
While promoting affiliate links, abide by the following best practices:
- Read Terms of Service (ToS) of both Facebook and affiliate network/advertiser
- Insert a disclosure stating it’s an “affiliate link”
- DO NOT run paid posts on Facebook to promote affiliate products
Pro Tip: Instead of directly promoting products or services, focus on generating leads from Facebook. Once you have the contact information, you can nurture prospects and drive sales. This strategy will increase the conversion rate.
3. Collaborate with Brands as a Content Creator [Influencer Marketing]
Influencer marketing is all the rage right now. Of all the businesses, 89 percent say that influencer marketing generates comparable or better ROI than other marketing channels.
Therefore, you should definitely consider monetizing your reach on Facebook.
You can partner with businesses to run influencer marketing campaigns, either for brand awareness or conversions.
There are two ways to do it:
Promote from Personal Profile
If you are the one who has numerous Facebook friends and followers or your content has a major influence in your circle of friends and communities, brands may approach you to promote their offerings.
You can create different forms of content – text posts, images, videos, etc. – and share them on your Facebook timeline.
However, note that influencer marketing on a personal level (using your Facebook profile) is a partnership between you and the business. Facebook doesn’t endorse it nor has a role in it.
But if you want to run campaigns officially on Facebook, you must have an active page.
Promote from Facebook Page
Brands Collabs Manager, a dedicated tool for collaborations between creators and advertisers, helps you in launching paid campaigns on Facebook.
Once you register as a creator, you can connect with brands or get discovered by them on the platform.
After a discussion, you can collaborate with brands to enter paid partnerships for promoting products and services.
4. Monetize your Facebook Pages
A Facebook Page is a gateway to earning money on Facebook as there are so many ways to monetize it.
And that’s one of the reasons you should consider using the Page to generate business rather than using your Facebook profile.
Have a look at some of the ways:
Create Video Content
Facebook Watch, the video streaming platform, is getting really popular. In 2019, Watch had more than 720 million monthly visitors and daily visitors were spending more than 26 minutes watching videos.
You can create and upload videos from Creator Studio. In addition to single videos, you can also upload multiple videos to your page, and across other Facebook pages as well.
To monetize your videos, you can:
- Enable in-stream ads (you need at least 10,000 followers)
- Set up paid online events
- Enable fan subscriptions
- Accept Stars from viewers
- Collaborate with brands if you meet selection criteria
For more details about monetization on Facebook, you can visit Creator Studio.
If you are into eCommerce or want to increase your sales or revenue for any other business, Facebook can help you reach your target audience.
Begin with creating a Facebook Page for your business. After setting it up, consider various options to promote your offerings.
Running paid promotions to advertise your products or services, and driving visitors to your eCom store is an excellent way to increase sales.
Besides, you can also add a button on the page that will redirect visitors to your website or landing page.
For example, in the screenshot above, you can see the “Shop Now” button enabled on the page of a brand that sells clothing merchandise.
If generating leads is your motive, Facebook can help you achieve it.
Once you have the leads, you can nurture and convert them into customers.
To attract prospects to your Facebook page, you can deploy various strategies like:
- Publish engaging content in the form of posts, videos, images, etc.
- Run paid advertisements to reach your target audience
Just as you can enable the “Shop Now” button to prompt visitors to purchase from your eCom store, you can use different call-to-actions to generate leads.
For example, you can opt for “Call Now”, “Send Message”, or “Sign Up” to interact and collect information from Facebook users. Similarly, you’ve got other options as well. (Check out the screenshot.)
This is the perfect option for business owners who are into services – doctors, lawyers, beauticians, real estate brokers, fitness entrepreneurs, and others.
You can enable the “Book Now” button on your Facebook Page so that people can book appointments, either on Facebook or your website.
You can also run paid campaigns to boost your reach and increase appointments.
In a way, Facebook is a booking platform that you can use to grow your business.
Enable Paid Subscriptions
Now if you have nothing but knowledge and experience to sell, Facebook allows you to share your insights with the users in return for money.
You can enable monthly recurring payments in exchange for exclusive content, deals, and bonuses. Facebook will provide special badges to your paid supporters so that you can cater to them without any difficulty.
However, the fan subscriptions monetization method on Facebook is an invitation-based program. Therefore, it’s not open to everyone.
5. Participate in Contests & Giveaways
Brands hold contests and giveaways to promote their line of products or services. You can enter these to win exciting prizes.
In most cases, all you have to do is share posts on your timeline, leave a comment, tag your friends, or perform a task suggested by the content moderator.
To find contest opportunities, simply perform a search on Facebook or lookout for updates from brands.
For example, here I searched “contest” on Facebook to find various posts, pages, and groups associated with contests and giveaways.
If you win a contest or a giveaway, you may win products, free service trials, premium membership, or gift vouchers.
6. Find Jobs or Recruit People
People are always looking for jobs and often rely on social media to find opportunities.
Even Facebook has a dedicated “Jobs” section wherein you can search for suitable jobs as per your skill set.
You can type a query, filter jobs according to location, job type, and category, and even subscribe to get notifications.
If you are a job consultant or would like to become one, start your Facebook Page and post job listings in it, connecting job seekers with the providers.
As you can see, you can earn money on Facebook by finding job opportunities as well as conducting recruitment drives.
7. Create Groups and Earn in Various Ways
Facebook Groups are quite popular these days. People are actively joining groups for various purposes – learn and grow, avail exclusive deals and offers, and much more.
Since engagement is at an all-time high in Facebook Groups, you should definitely create one.
A Group can help you earn money in various ways, such as:
- Promoting your line of products and services
- Creating a network of likeminded individuals for collaboration
- Collecting leads (emails, for example) for your business
- Catering to customer requests and queries that, in turn, will increase customer retention rate
- Sharing affiliate links
Managing a Facebook Group is not the only way to earn money. If you are an expert in your field, Group owners may ask you to join their group as a consultant, for which they may offer you lucrative remuneration.
For example, if you are a mutual fund expert, you can either start your Group or join other groups in the niche to offer your services and increase your influence.
8. Organize Events
People love to engage with each other, both online and offline. And events make it possible for them to participate actively.
If you are an expert in a trade or are into events, you can organize an event and list it on Facebook.
Since Facebook is also a search engine for Events, you’ll receive plenty of registrations for the event.
Besides, you can promote your event in your friend circle, Facebook Pages and Groups, and at other places.
Setting up an event is quite easy on Facebook. You’ve to provide basic information and write a persuading description that’ll compel people to sign up for the event.
You can add a button that’ll link to the payment page (as seen in the screenshot), allowing attendees to pay the amount.
If it’s a recurring event, you can mark it as a “Recurring Event” while creating it. This will ensure a consistent source of income for you via Facebook.
9. Launch a Fundraiser Campaign
Although not a way of earning money through Facebook, it’s an effective way of raising money for a good cause. This is an effective tip for all Non-Profit businesses.
You can launch a fundraiser campaign on Facebook. The success probability is high because the statistics say that 18 percent of donors have contributed through Facebook fundraiser tools.
Go the “Fundraisers” on Facebook and start a campaign. However, you cannot raise money in your name, but you can on a charity’s behalf.
Most of the organizations have a presence on social media, including Facebook. You can collaborate with them and launch a campaign.
Besides raising money, consider donating as well. A small contribution can have a large impact on someone’s life.
10. Buy/Sell on Facebook Marketplace
As the eCommerce is witnessing a tremendous boom, you can ride the wave by buying and selling stuff on Facebook Marketplace.
Even Facebook is promoting its Marketplace and therefore, the icon appears on the home page as well as in the sidebar.
To list a product in the Marketplace, you can create a new listing by adding a product.
Choose category, location, and photographs wisely because these factors play a major role in influencing buyers.
Make sure to provide correct contact information and website link so that the buyer can connect with you without any problem.
To up your game as an eCommerce player, you can also create and join local groups on Facebook that operates in your region.
Whether you are into retail, wholesale, or brokerage business, Facebook Marketplace will help you find potential clients interested in your offerings.
11. Participate in Gaming Tournaments
If you are an avid gamer with impressive skills that can win you a tournament, participate in gaming competitions happening on Facebook.
Check out the “Games” section in the sidebar of the Facebook homepage. From here, you can play games, stream live, manage the dashboard, and take part in tournaments.
Some competitions require you to enroll as a team. You can check out complete details before entering as a participant, such as winning amount, schedule, etc.
Not only participate but also conduct gaming tournaments on Facebook. You can earn a lot of money through sponsorships and entry fees.
12. Become a Facebook Marketer
People want to do business and increase sales but they don’t know anything about online promotions.
You can solve their problem by handling their online promotion activities, including Facebook marketing.
You can manage content, Facebook pages, groups, conduct events, optimize profile, run paid promotions, and more.
Based on the scale of work, you can charge a fixed recurring amount – $1,000 for monthly management, for example.
This is excluding advertising spend the clients will incur on running paid campaigns. You can further add this to the fee.
Now if you don’t know how to market on Facebook, you can learn the necessary skills by enrolling in Facebook Blueprint, the step-by-step course on Facebook marketing.
You’ll not just learn how to promote on Facebook, but also run campaigns on Instagram and other Facebook networks.
13. Become an Investor in Facebook
Using Facebook as a user is not the only way of making money. You can also accumulate wealth by investing in Facebook stocks.
Since its debut in April 2012 at $45.02 share price, Facebook has gained momentum, and as of August 2020, the stock price is fluctuating above $200.
The future seems bright for Facebook because it’s the biggest social media network in the world right now.
But before you invest your hard-earned money in Facebook, you must analyze its annual report (Form 10-K) and evaluate your investment capacity. For more information, you can check out this link.
14. Participate in Facebook Bug Bounty Program
Nothing is perfect, not even Facebook. There are security loopholes that may compromise Facebook’s operations.
The Bug Bounty Program aims at eliminating these security discrepancies and provide a seamless user experience.
If you can identify the bugs that pose a threat to Facebook, you become eligible to receive rewards from the social media company.
However, you must go through Facebook guidelines regarding Bug Bounty Program before participating in it.
The Bottom Line
To be honest, you can become a millionaire if you can find a way to earn money on Facebook.
Now, you don’t need to implement all the money-making strategies listed here.
Pick the ones most suitable as per your business idea and put your heart and soul into them.
If anyone in your circle wants to build a sustainable source of income, share this post with them without any delay.
And I also want to ask you: Do you know any other way of making money on Facebook?
Let me know in the comments. I’m all ears.
You should also read the following articles to find other different ways to make money online: