While many people use Facebook for personal communication and sharing, there are also several ways to leverage the platform for making money.
In this article, we will explore some strategies for making money on Facebook and how you can use the platform to reach your financial goals.
From selling products and services to building a following and leveraging Facebook’s ad platform, we will guide you through some of the most effective ways to make money on this popular social media platform.
What is Facebook?
Why do I Need a Facebook Account?
Facebook as a platform is built for both businesses and individuals and can be used for all manner of things.
1. Facebook has the largest reach of all networks.
2. Facebook enables you to build your email list.
Collecting emails is powerful because you can dynamically engage your fans from different marketing channels.
By turning your Facebook followers into an email list, you take control of your audience and gain the ability to meet fans in their inboxes. It’s a proven system (89% of marketers reported that they mainly generate leads through email).
3. Building your business on Facebook is a lot cheaper.
Another advantage that comes with leveraging the power of Facebook ads is the ability to target by Interests, Age, Behavior, Device(s) used Occupation, Marital status, Location, and many more.
4. Facebook enables you to Gain in-depth audience insights.
Most times we want to know what is happening under the hood, we need insights, which come in form of data.
This insight allows you to see; Page Views, Post Reach New Page Likes and much more.
5. You get to Build brand loyalty With Facebook.
Facebook is one brand that can help you build brand loyalty, Besides being a place to build a customer base and sell products, a Facebook business page can do wonders for helping you build a loyal customer base.
It doesn’t happen overnight, but if you consistently provide valuable and entertaining content, your followers will stay loyal and eventually become paying customers.
6. Facebook allows you to boost your website traffic.
A platform that houses more than 3 Billion people all over the world can be used as a traffic-generating machine. Smart Facebook page owners use their pages to drive traffic to their websites.
One way to convert your Facebook following into revenue is by having them visit your website. This can be achieved by making use of link-based-post to drive traffic to your websites.
7. Facebook can be used to Boost your SEO.
SEO means search engine optimization and is a term used by webmasters when trying to rank their platform on search engines.
How do I Make Money Online With Facebook?
With nearly 2 billion daily users on average, there is no denying that Facebook is the place to be. Apart from its role as a front-runner for social networking websites, it is one of the best advertising tools available for online businesses. Do you want to make money on Facebook? here is how it can be done.
1. Build an Audience.
The first thing to do before attempting to make money on Facebook is to build an audience. Having an audience establishes credibility and expertise in a field, validating work to outsiders.
In many instances, it’s less costly and resource-intensive to build an audience first. Building an audience requires you to post content that addresses the needs of people. There are two ways to build an audience on LinkedIn and they are highlighted below.
1. Facebook Groups.
You dont have to be acquitted on Facebook to join a group on Facebook, all that is needed to be done is to create a group, customize it by choosing your interest, create content and invite people to it.
2. Facebook Business page.
Brands use their Facebook pages to promote products and services through links, status updates, photos and videos.
3. Facebook friends and followership.
A Facebook friend is someone who is connected to another person through a social networking site of the same name. Usually, Facebook friends are users of the site who knew each other before joining the site or who know each other outside of the site.
Users can send a ” Friend Request” to someone they know on Facebook and when that is accepted, they begin to see updates on their live feed.
Facebook has a friend limit of 5,000 max, this was put in place so that such a feature will not be abused. If you want to seek more connections, or you need a large number of people, you should try creating a Facebook page or group.
2. Sell your product.
Selling your product or service on Facebook is easy, all you need to do is build an audience and establish confidence in your brand and product.
3. Drive Traffic To Your Blog.
When it comes to the most effective methods how to monetize a blog, it all depends on your blogging niche and audience type.
Do you own a blog, that is in dire need of traffic to make money? You can leverage your Facebook Audience to drive traffic to your blog.
I wrote a comprehensive guide on how to start a successful blog. Check out the link to the article below to learn more.
4. Affiliate Marketing.
Affiliate marketing is the practice of promoting the products or services of another person or company in exchange for a commission on the resulting sale.
Affiliate marketing is a modern interpretation of getting a commission on a sale.
Affiliate marketing is just a quick way to offer products and services without having to create your products and services.
To recommend products and services to your audience, you must build trust by publishing value-added content.
5. Drive Traffic To Your YouTube Channel.
One exciting way to make money online is by becoming a content creator on YouTube. It is one of the most popular video sites on the Web today. More than five billion YouTube videos are watched around the world daily.
I wrote a comprehensive guide on how to start a YouTube channel and make money. Check out the link to the article below to learn more.
6. Become a Facebook Influencer.
Influence marketing has become a mainstream marketing tactic and is no longer limited to a select few brands or agencies.
Almost every primary industry has seen a rise in influencers. And brands are leveraging them now more than ever.
Being an influencer has become so lucrative that it’s no wonder that everyone wants to be one in their respective domains.
If you are one of those people who want to become an influencer, Facebook is a great place to start.
I wrote a comprehensive guide on how you can become a social media influencer, check out the link to the article below to learn more.