Making Money on Facebook: From Content Monetization to Social Commerce
Just about 1.84 billion people log into Facebook every day, which means Facebook gets at least 1.84 billion hits on its website and app every day. Facebook has 2.80 monthly active users.
Based on the traffic stat and user base, Facebook is really huge.
Facebook is a social networking site and a marketing platform, but do you realize Facebook is also a money-making site. So, how do you make money on Facebook?
Here are some of the ways to make money on Facebook
Affiliate Marketing
This is one of the common ways to earn money on Facebook. Share the link to affiliate products and when someone buys from your link, you earn money.
Facebook Marketplace
Facebook has a marketplace section where you can list your products for sale. You can also create a store on your Facebook page.
Influencer Marketing
By becoming a Facebook influencer, you can do sponsor posts and make money.
Vlogging
Just like on youtube, you can also earn from your videos on Facebook. When approved, Facebook will show ads on your videos, and you will earn from your videos.
Facebook Instant Articles
If you have a website, you can earn by sharing your web articles on facebook. When you are eligible, facebook will show ads on your website page and you will earn from impressions and clicks.
How do you get started with making money on Facebook?
Start building followers on your page. But you need genuine methods to build followers.
How to Build Income Through Social Media Management
Facebook has roughly 2.93 billion monthly active users. Youtube has 2.1 billion active users. TikTok and Instagram have 1 billion monthly active users. Monthly active users mean users who logged into the platform at least once a month.
Social media has a wide coverage and has a lot of users, and this reach and user base have created an opportunity for common people to make money through social media management.
Social media management is a semi-passive income stream, you just have to work 3-4 hours in a day but will be able to make a lot of money.
How to get started in social media management?
Join a platform that matches your interest, or you can join multiple platforms if you want.
Start creating content for the social media platforms. The kind of content you need to create depends on the platform. For youtube you can create short videos as well as long videos, on TikTok, you create short videos, on Facebook you post videos, memes, infographics, quizzes, polls, status, etc.
Start building followers. You can do this organically, or through advertising. The organic method is better but it takes time.
When you have built a huge following, you can get sponsorship, earn from ads, sell merchandise, etc to make money. You can also manage and run social media accounts for someone and make money.
How to Generate Income Through Facebook?
With 2.93 billion monthly active users and 1.62 average daily visits, Facebook is not only the most used social media but also the second most visited website on the world wide web (Google search stands first). Facebook is not only a place to connect with people, it is also a place to do business and make money.
Facebook Marketplace: Facebook offers a marketplace where you can list your product and make money by selling your products.
Facebook Reel: Facebook Reel is a TikTok-like short video service from Facebook where you can share videos and make money from your videos. There are no criteria to fulfill, how much you earn depends on the views generated by your video.
Facebook shop: You can set up a shop on your Facebook page and sell products and services
Facebook Gaming: You can stream games on Facebook and earn from ads as well as gifts from other users (called stars).
Facebook Instant Articles: If you have a Facebook page with more than 10k followers, you can earn from the articles shared on your page. If you are eligible Facebook will run ads on your article and when someone reads your article through your page you make money.
Influencer marketing: If you have built a huge following on your page, you can make money through sponsorship.
How to Start a Business on Facebook
Facebook is the best platform to start your business.
It is completely free, you do not have to spend money to build your online store, or spend money to list your product.
Facebook is the most visited website after Google. It has about 2.93 billion monthly active users (people who logged into Facebook at least once a month). So, obviously, you have a lot of customers.
Facebook has a global presence, except few countries (North Korea, China, etc.). Therefore you can sell globally.
If you want to advertise to drive sales, you don’t have to use third-party advertising, you can run Facebook ads.
Create a Facebook page and start posting your products and services. If your page has followers, you will have saves, if not start running ads. You can either run ads for your products or advertise your page and build followers.
Create a shop on your page. If you have a website, customers can check out on your website, if not they can check out through messaging.
Go to Facebook Marketplace and create your listing. When you choose this option to sell your products, you don’t even have to create a Facebook page, you can directly sell through Marketplace. You can choose the boost option to increase your listing visibility.
Social Commerce on Facebook
How to Do Social Commerce
The best way to start a business is by selling on social media platforms. Selling on social media platform is normally referred to as social commerce. In my opinion, there are three good reasons for doing social commerce. First, it social media platforms are free to use. You don't have to pay to list your products, like you do with other e-commerce platforms, or spend money to set up a store, like with Shopify. Second, since you're already selling on social media, it's easier to do social media marketing to make sales. Third, if you build a big following, you can sell to your followers without spending money on ads. Creating a shop on Facebook and Instagram might be a good way to start a business, but selling through Facebook Marketplace is even easier.
Selling products and services through social media platform is called social commerce. A lot of social media platforms have integrated social commerce functionality. For example, on Facebook there is Facebook Shop and Facebook Marketplace. On Instagram there is Instagram Shop. After fulfilling eligibility criteria you can easily start a shop on social media platforms. Have you tried social commerce? Based on your personal experience, what I the best social media platform to start social commerce. As far as I am concerned, Facebook is the best platform for social commerce. It offers multiple methods to sell your products and services. It is also biggest social commerce platform.
You can not only grow your business through Facebook, you can even do business on Facebook. You can either use Facebook as a marketing platform or as a social commerce platform, choice is yours. However, no matter how you are using Facebook for business the most important thing is to have a facebook page with a huge following, when I say huge I mean really huge, something like 200k, 300K. You can build huge following through good content and advertising
Facebook is ny favorite social site for social commerce. I say favorite because Facebook is the only platform where I have managed to generate sales. I some times generate sales organically but most of the time I run ads for generating sales when I sell a couple of products, I can easily recover my advertising budget and if I sell over a dozen products I will be making profits when when I am doing paid marketing. I mostly sell through Facebook Marketplace and my Facebook page.