Facebook is one of the most frequently used social media sites. So, how can you use that? How can you earn money with the platform? How to make money with Facebook for your own business? Let’s have a look …
5) Sell via Facebook
The most direct strategy to earn money with Facebook is to use Facebook as a selling platform. Just start a buy and sell group on Facebook and offer products, here. That’s especially useful when you’re not having your own website, online shop or one-stop-shop. With such a sales group you can sell products or services by posting them on the page. People can see the page, follow the page and will get informed about updates. If they’re interested, they can contact you directly. The target group can be globally, regional or locally.
Facebook is also giving a lot of information about this topic. A good starting page is this site: https://www.facebook.com/business/help/626723211000233
4) Influencer Marketing and Product Placement
In general, you can be a product tester evaluating products and exchange your experiences with your audience. When you have a significant amount of followers, companies will sell you for that or at least provide you the product, tool or service for free, as you already have built up an authentic relationship with your audience and your followers will directly believe your assessment more than an evaluation from an any commercial. That’s by the way the reason why companies are often working together with testimonials to whom the customers are also relating to. The same effect is given for Influencer Marketing.
Hereby, it is important that the product is fitting to you as a brand. A man talking about make-up? Most likely not. But hey, we’re living in the new millennium, so … try it out! Maybe, you have just found a new niche bringing you lots of money! Think big! Be creative! Look beyond the border!
Pay attention, some countries have strict laws that you have to flag your videos containing product placement and make it clear in the video and in the description. This is a little bit extra effort but even increases your trustworthiness as a brand!
3) Ad space on your Facebook page – Social Media Marketing from others
Another strategy you can follow when you’re having a significant amount of followers is to place advertisements on your Facebook page. You can sell the space to other companies who wanna convince your audience from their product. This is a nice option, but you should choose the ad partners wisely that it is not scaring off your target group too much.
For this purpose, Facebook is offering an Ads Manager as a good option to manage your ads. A good starting point is this site: https://www.facebook.com/business/help/169249477193317
Again, less is more, here. It could also be kind of hard to find sponsors who are willing to pay for advertisements on your page so it is especially meaningful when you have a certain reach.
Finding Sponsors who are willing to pay for advertisements on their own page is difficult and will require you to have already achieved a certain social media reach.
2) Use Facebook for affiliate marketing
Another good strategy to make money with Facebook is to use Affiliate Marketing. Firstly, you must register to an affiliate marketing program such as Amazon. Then you choose the offered products or services from the partner program you want to advertise. For these products, you are generating special affiliate links with a tracking id. With those links, you are advertising the products or services on your Facebook page. Now, when your visitors seeing your recommendation, clicking on your links and buying the product or service others, this will be recognized by the Affiliate Marketing partner and you would get a royalty for your successful recommendation leading to sales. Therefore, you do not need a product by your own, you’re just recommending another one. Again, this should be authentic and fitting to your brand, otherwise your target group will less and less believe you which is decreasing your trustworthiness and the value of your brand till the case that you’re not brand safe any longer.
The good thing is, that your royalty is free for the buyer and it is not directly increasing the price of the product as it has the same price when bought without an affiliate marketing link in the beginning.
Same tip here as above: Don’t overdo it. A Facebook post with 20 affiliate links is not what your followers want.
1) Start your own Facebook campaign
The last and maybe best way to earn money with Facebook is to use Facebook as a marketing channel for your own company. Spreading interesting content could reach a lot of people as Facebook is still one of biggest Social Media platforms worldwide. Just be active on the platform and also like and comment other content, start an interesting group or invite people to Facebook events where you’re running e. g. interesting online talks streaming it on Facebook, of course. As Facebook is a social media platform it gives you lots of opportunities to interact not only with other business partners but especially with your potential clients turning them into leads turning them into buyers, rebuyers and fans of your individual products and services.
Some last minute tips:
- You don’t have followers, yet?
- No problem … just start, post regularly and the followers will come.
- Don’t overthink it. Make and share.
- Don’t overdo it. Don’t spam.
- Don’t buy likes. This could lead to blocking of your account.
- In general, follow Facebook’s Terms and Conditions.
- Stay authentic and look what’s fitting to your brand.
- Just start. What are you waiting for? MySpace is not coming back …