Facebook is the largest social media platform in the world. With over 2.6 billion active users monthly, there’s no other place to reach the largest audience online except Facebook. Due to the huge amount of people Facebook attracts, a lot of people seek for ways to monetize the platform. If you are also curious as to how money can be made on Facebook, here are 6 brilliant ways to do so:
1. Affiliate marketing on Facebook
If you have a large number of followers, you can sign up to be an affiliate marketer for a particular product. By doing so, you get a unique code or link that tells the company that a customer got to know about their product through you. When such customer makes a purchase, a specified percentage goes to you. Affiliate marketers on Facebook usually create content around the company’s product. The content can be a short summary of what the product is and its advantages or a video that reviews the product. This content serves to persuade the customers to make a purchase so that the affiliate marketer earns their commission. This commission could be as high as 40% on each sale. If this looks like something you can pull off, you can register to be an affiliate marketer on ClickBank, Amazon Associate, eBay and so on.
2. Buying and selling in the Facebook marketplace
The Facebook marketplace is a free-for-all feature that allows vendors to advertise their goods to potential customers. It is a huge community where buyers and sellers meet to trade almost anything – both goods and services. Everyone has access to the marketplace so posts can be viewed by a large number of people and can be shared as well.
3. Become a Facebook group Admin
Running a group on Facebook is an easy way to make money on the platform. All you need to do create the group and build it to at least 10 thousand members. You have to get engagement on it too. This can be done by posting content about specific topics that can create relevant discussions around it. You can make your group a subscription group on Facebook too. However, you’ll have to comply with Facebook’s Partner Monetisation Policies before you can do this. Members of the group will pay a subscription fee to you in order to gain access to the exclusive content you post. You can still earn money without going down this route. Once you have a large follower base, there are many other ways to earn using your group. These include sponsored content by brands, paid surveys, and even affiliate marketing.
4. Selling Facebook accounts or pages
Another way to make money on Facebook is by growing an account or page, then selling it to a business or individual that needs the audience. It’s a lot easier for advertisers to just buy an already developed page or account to use for their marketing proposes. Building an account from scratch is a more difficult route. Also, Facebook gives preference to older accounts when it comes to promotions so this is another advantage to the marketer. Many online businesses need an already established audience they can advertise to products to. A developed page will go a long way in helping their businesses.
5. Facebook account management
If you have a proper understanding of how Facebook works, you can get a job to become a handler for businesses. A perk that comes with the job includes the opportunity to work remotely. You only need your laptop and a good data connection. An account manager is responsible for posting content on the page at appropriate times, interacting with the audience, growing the account, creating effective ads and monitoring the ad metrics.
6. Enter a Facebook contest
Many contests are held on Facebook daily. Some may be referral contests, beauty pageants, or simple question and answer sessions. The prizes for winners often include money or gifts like phones, laptops, home appliances and so on. The contest are often free to enter so it doesn’t cost you anything except your time.
There’s enough room for many people to make money on Facebook. Check out the choices listed above to pick the one you think suits you best.