While Facebook might not be the shiny new platform it once was, it still boasts a whopping 3.0 billion active users, towering over Instagram's 2.0 billion and TikTok's 1.2 billion.
Making money on Facebook is entirely doable, with options ranging from affiliate marketing and Messenger ads to selling stuff on Facebook Marketplace. However, it's not all sunshine and rainbows – the average engagement on regular posts barely scratches 1.5% to 2.5%, and even those who fork out for ads and sponsored content often find their reach dwindling over time.
But fret not! Facebook still offers plenty of exciting moneymaking opportunities, especially for entrepreneurs and creators with a solid Facebook following.
Whether you're looking to pad your pockets on the side or reel in more customers for your existing business, here are six ways you can cash in on your Facebook audience, along with the hoops you'll need to jump through to make it happen.
Before You Dive In: Check Your Facebook Monetization Eligibility
Before you start dreaming of dollar signs, you've got to make sure you're eligible to make money on Facebook. This means ensuring your Facebook page and the content you post on it meet the platform’s eligibility requirements, which fall into three main categories:
Facebook Community Standards: These are the basic rules of the platform, like no graphic or unsafe content.
Partner Monetization Policies: Rules for your Facebook page and content, how you share it, and how payments are handled.
Content Monetization Policies: Content-level rules for everything you post, such as no violent or profane content.
To check your eligibility, head to the Monetization tab in the Facebook section of your Creator Studio. You can then select which pages you want to check and get a rundown of your eligibility status.
Once you're eligible, the key is to stay that way. Regularly review Facebook's Community Standards, keep your content high-quality, and make sure you have the rights to post what you're posting. If your page somehow becomes ineligible, Facebook will let you know via the Monetization tab, along with the reasons for your disqualification.
How to Make Money on Facebook: Six Tried-and-Tested Methods
Create Videos with In-Stream Ads: In-stream ads are perfect for creators and brands with a sizable audience. When viewers are already hooked on a Facebook video, they're more likely to sit through an ad if it means they can keep watching the original content. Brands like LIFEWTR have seen great success by weaving in-stream ads seamlessly into their content, resulting in higher brand awareness and ad recall.
Add a Paid Subscription to Your Page: Fan subscriptions let your most dedicated followers pay a monthly fee to support your page. Brands and creators with active audiences can use this feature to offer exclusive content and perks to subscribers. The Vegan Baker, for example, charges $4.99 a month for access to exclusive content and discounts, while also allowing fans to send extra tips through Facebook's stars feature.
Collaborate with Brands: Partnering with relevant brands can expand your reach and diversify your content. Brands are often on the lookout for influencers and creators to help them connect with new audiences and boost brand awareness. StyleNow Feed, for instance, teamed up with Jasper’s Boutique to create engaging content that resonated with both their audiences, resulting in increased brand exposure for both.
Earn Money Directly from Your Fans: Facebook Stars allow fans to buy stars and send them as tips to their favorite creators during live streams or Reels. Creators earn $0.01 for every star received, providing a direct way for fans to support their favorite content creators. Paula Garcia, for example, leverages her large following to earn money from views, likes, and comments on her Reels.
Run Paid Events Online: Engage your followers with live events they can attend from the comfort of their homes. Facebook's paid events feature lets you schedule and host events through your page, making it easy to transition in-person events to the online sphere. Jasper’s Market, for instance, hosts various events through its Facebook page, allowing fans to purchase tickets directly from the page.
Drive Visitors to Your Online Store: Utilize Facebook's social commerce features to direct shoppers from your page to your online store. By adding shoppable posts and ads, you can capture consumers' attention mid-scroll and drive traffic to your online store. Clothing brand QUEENSHOP, for example, uses Facebook's Live Shopping feature to direct viewers to its website, resulting in higher returns on ad spend and increased add-to-cart rates.
Conclusion: Diversify Your Earnings
While Facebook offers numerous opportunities to monetize your audience, it's essential not to put all your eggs in one basket. Diversify your revenue streams and explore other platforms to ensure you're not overly reliant on Facebook alone. With the right strategies and a bit of creativity, you can leverage Facebook's massive audience to boost your earnings and grow your business.
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