Facebook is one of the most popular social networking sites in the world, with over 1.18 billion daily users. Primarily used as a platform to connect with friends and family, Facebook has now evolved into a marketing site as well, with its wide reach and efficient features.
Owing to the commercial activities taking place on the platform, the Facebook creators have added a section on their app titled Marketplace, which people can use for earning money.
Not just this, this social media site has a vast capability of reaching out to millions of people all over the world. This can be used as an advantage to expand your business and earn a decent amount of money.
If you want to harness the powers of social media, especially Facebook, to earn money, we have a few ideas for you.
Check out the top 4 ways in which you can make money on Facebook:
Become an influencer
The most common, and perhaps lengthy, process to earn money on Facebook is to become a social media influencer. To become an influencer, you need to cultivate a niche first.
Choose something you’re really good at or something that will make you stand apart from the crowd. Keep in mind that there are thousands of aspiring influencers on the platform.
Once you discover what kind of content you want to make, work towards building a follower base. The more followers you will have, the more money you will earn.
Not to mention that once you become a popular name, many brands will want to hire or collaborate with you to promote their products. That is another great source of money you can tap into.
For starters, you need to make regular and unique content to catch the eye of the users. Once a video of yours goes viral, you won’t have to look back. Just keep making interesting videos and you will gain millions of followers in a short span of time.
A key approach here is to connect with your followers on a personal level and drive up the engagement rate of your page.
Become a Seller on Facebook Marketplace
Facebook has set up a Marketplace for budding entrepreneurs and resellers. There, you can list and sell any product under the sun. From apartment listings to fashion sales, you will find everything on this platform.
If you are a manufacturer or seller of any kind of goods, Facebook is a great place to advertise. Your product listing will not only be viewed by your followers, but a vast target audience will also be able to contact you and set up a deal.
You can say that this is another version of eBay, where you can sell your old unused products as well as brand new merchandise through your posts. Just upload pictures of the product, give details, and mention the price. You can also get a rating through customer reviews. Needless to say, a good rating will always translate into more customers.
Facebook has recently introduced in-stream ads in videos, which might be somewhat annoying for the viewer but is a great source of revenue for the content creator. Now, you can include short advertisements in your videos.
How it happens is, Facebook automatically identifies natural breaks in the content to place ads before, in, or after your videos. You can also choose the points to place the ads.
By including ads in your videos, you can earn money based on how many views your content gets. If you have more followers or higher reach, your revenue automatically drums up.
Another factor here is who or which company advertises in collaboration with you. Hence, you can choose to place certain ads in your content or promote specific products which will make your brand value higher and help you earn more money.
Collaborate With Brands And Promote Products
Our discussion about product advertisement naturally brings us to brand associations. Needless to say, the bigger the brand, the more financially viable the deal is.
The ideal collaboration for brand endorsements or placing advertisements is to associate with relevant products that can go in harmony with your content. Often, you might find that a locally popular brand will get more profits than a national product that has little recognition value to your niche of customers.
This strategy will work optimally only when you have a significant number of followers. But don’t lose hope even if you don’t. Keep making quality content and build your networking skills; remember that one viral video can take you to the heights of social media recognition.
As you gain more fame and followers, you will find it easier to collaborate with brands. You get paid generously for promoting brands and talking about certain products in your content. You can use this to your advantage and make a decent amount of money through your Facebook profile.
Sell likes, shares, and Sven Your Old Accounts
A new trend has emerged with the growth of digital marketing in the social media space. Many individual and brand pages are now seeking organic likes and shares when it comes to their content. Likes from real people are obviously more credible than bot-generated likes, and Facebook gives more prominence to accounts with more organic traffic.
So, now you can set up a business of selling likes for a certain rate, let’s say $1 for 10 likes. If you can form a network of real users who will work to advertise the content in different groups or platforms and gain real traffic and interaction in posts, you will get paid for it.
If you have a Facebook group with a significant number of followers, you can also use it for advertising and earn money. Many small marketing companies are formed based on this strategy.
Another ingenious way to earn money is by selling your old accounts. A large percentage of Facebook users have multiple accounts. Perhaps they had created it in some other time for some other purpose, or they have just grown out of their old persona and decided to create a fresh Facebook profile to get rid of the baggage.
Either way, now you can clear and sell your old Facebook profiles/pages to companies for their promotional requirement. Facebook gives more prominence to old accounts, so companies are keen to buy old genuine profiles to market their content.
All these and many more strategies help you gain a steady income from Facebook. Do you have any more brilliant money-making ideas? Let us know in the comments below!