You can make money from Facebook, the world leader of social media platforms by using several methods of monetisation it offers. The platform is a huge player in the advertisement market and earns a considerable amount by publishing advertisements online. There are 2.6 billion Facebook users in the world and the methods of earning money from Facebook are slowly expanding with its user base.
Here are the key statistics for the market share of Facebook for the year 2023-2024:
Facebook plays more than just the role of a social media platform. It is a source of news for many and for and for some, it is simply a way to increase and reach out to relevant target audiences with more ease and flexibility. The platform is one of the leading places to earn money and reach out to customers with a more personal touch.
How Can You Make Money From Facebook?
Here are the seven ways with steps on how to earn money from Facebook.
Insert Ads In Your Videos
By publishing video content on Facebook, you have the opportunity to earn money through in-stream ads. However, there are specific eligibility criteria that must be met to utilize this form of monetisation. For instance, you need to have a strong presence with at least 10,000 Page followers.
Basic eligibility for monetising Facebook videos:
- Have more than 30,000 1-minute views on your videos.
- Publish from your Facebook page and not your profile.
- Post more 3-minute videos.
- Create videos that are unique and add value to the viewers.
Engage In Brand Collaborations
Branded content refers to content created by a publisher or creator in collaboration with a business partner, where the partner either influences the content or is prominently featured in it. When you share such content, make sure to utilize branded content tools to tag the partner. This allows both you and your partner to access valuable insights regarding the post’s reach and engagement.
Additionally, you can leverage the Brand Collabs Manager to increase your chances of being discovered for paid partnerships and unlock the earning potential of your Facebook presence.
Hold Live Videos
Elevate your live streams to new heights by incorporating Stars. Stars provide an opportunity for you to generate income while engaging with your fans during live videos. Fans can purchase and send Stars, which are virtual goods, in the comments section of your live video. For every Star you receive, you earn one cent. Stars offer a playful means for fans to express themselves and demonstrate their support in the comments of your video.
Directly Earn Money From Your Fans.
In a recent update, Facebook revealed its increased focus on original video content created specifically for the platform, aiming to discourage users from solely sharing TikTok posts. Through a series of progressive “challenges,” creators and influencers can earn monthly monetary rewards of up to $4,000 by accomplishing specific goals, such as achieving a set number of views on a Facebook Reel.
This feature can only be accessed via invitation as of now. Facebook has currently been targeting influencers on their platform whose following is in the hundreds of thousands or even millions. If you are one of them, the first challenge must be completed within 30 days.
Make Money From Facebook Marketplace
If you have a retail business, the most effective way to earn money is by using Facebook Marketplace. It is a virtual marketplace where Facebook users can buy, sell and trade items. It is a cheap but useful way to make a sizable income online by setting up your own supply chain.
Steps to earn money from Facebook Marketplace selling products:
- Sign in or Sign Up on Facebook
- Click the stall icon on Facebook, this is the Facebook Marketplace.
- Decide beforehand what you wish to sell and then post a picture of the item on the marketplace with other relevant details such as price, size, location and colours available.
- Post it and make it live.
- The profit you make depends on the profit margin and the number of pieces you sell.
You may also sell services on Facebook Marketplace but the process to sell a service is different from selling products on this platform.
Steps to earn money from Facebook Marketplace selling services:
- Sign in to Facebook with the intention of increasing demand for a specific service.
- Find groups on Facebook that have the relevant target audience.
- Send a request to join the groups and include a message to the moderators explaining why you want to join, as this increases your chances of being accepted.
- Recognize that the group you join will have competitors selling similar services to the same target audience.
- Analyze and study your competition thoroughly.
- Create unique and engaging posts to showcase your services.
- Prompt the audience to message you personally for further details.
- Understand that forming a long-lasting relationship with clients through trust and word of mouth is crucial, and encouraging personal messages plays a vital role in achieving this.
- Work on the feedback you receive.
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Make Money From Facebook Page
Pages on Facebook have amassed millions of followers and once a page has a significant number of followers, the moderator of the page may want to monetise the page. If you wish to earn money from your Facebook page, you need to prepare for this in advance. This is because it takes a long time to build followers for a page and to gain popularity through content.
There are thousands of pages on Facebook competing with each other purely on the quality of content. Once you have gained enough followers, you can earn money from your Facebook page by posting sponsored content from brands in exchange for money or even selling your own products to the followers of the page. If you intend to eventually sell products or services through your page, make sure you post relevant content while gaining page followers. This is because if there is a discrepancy between your page content and the product/service you are selling, you might lose followers.
Steps to make money from Facebook pages:
- Build a page through content generation. Focus on increasing the number of page followers.
- Sell ad spaces on your page. You must typically sell the ad space to bigger and more famous brands.
- You may also want to sell the entire page authority to someone but this is done only in cases where the business is expanding or when it is bought by a bigger brand.
- Sell other brands on your page.
Earning money from Facebook pages is a moderately difficult task and takes 15 to 20 days to show significant progress for the business.
If you’re not convinced yet that Facebook is a great way to make money and increase your income, here are some great business ideas for 2021 for more income.
Earn Money From Facebook Adsense
Google’s monetisation platform which is Adsense helps users to earn money by displaying ads on a website and driving paid traffic to it. Once you meet the eligibility criteria for Adsense, you will be able to link advertisements to Facebook and earn money from the platform. An Adsense-approved website will drive traffic to your website using ads on different platforms as a source. Every time someone clicks on the advertisement, you are accountable to receive a certain amount of money since the ad space is yours, this is called pay-per-click advertising (PPC).
This type of business is typically called ‘arbitrage’ where you earn a profit whenever a desirable action is performed by a customer, say liking or commenting on the post.
Steps to make money from Facebook Adsense:
- Get your Google Adsense account approved.
- Generate interesting and engaging content for the website.
- Link these paid ads to Facebook.
- Regularly check the Adsense analytics and work on the relevant feedback.
- Repeat the process till you don’t earn your desired profit.
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