Pretty much everyone who is on social media and the Internet today knows what Facebook is. However, not everyone knows that you can make money on Facebook.
For those of you who haven’t heard of Facebook, it’s a social media company with over 2 billion monthly active users worldwide. It’s primarily a social network where people can hang out, socialize, and share things of common interest.
Personal pages have their word spread further than business pages on Facebook. So, it makes sense why the social media giant is working on ways to help users earn some extra cash. Here are a few examples of ways you can make money with Facebook:
- Facebook Marketplace
- Facebook Ads
- Referral links
- Affiliate Marketing
One of the newest and most popular ways to make money on Facebook is on Facebook Marketplace. And the best part is, everyone has access! Even though it’s not a specialized marketplace, the audience is huge, it doesn’t cost you anything – and most importantly, it’s been proven to be an effective way to make a few bucks.
Facebook Marketplace is kind of like Craigslist. You can place your spare goods for sale on Facebook Marketplace and arrange them by categories ranging from Home and Garden to Vehicles and Bikes.
But why would you want to use Facebook Marketplace over a tried-and-true secondhand website like Craigslist?
Well, it’s simple. Facebook Marketplace provides:
- Ease of use
- Local buyers and sellers
- Web-wide access
Ease of Use in Making Money on Facebook Marketplace
Facebook Marketplace’s ease of use makes it a great way to start making money on Facebook. Almost anyone can figure out how to start selling on Facebook Marketplace. All you need to do is:
- Take pictures
- Write a full, honest description
- Provide original purchase documents
Then, you have to check the pricing of the items similar to other e-commerce sites. Finally, make sure you communicate with your buyers and be professional. These last two steps are key in making sales to potential buyers.
Local Buyers and Sellers
Another reason why Facebook Marketplace is great is that you can buy from local sellers and sell to local buyers. A Facebook user can select the geographical area from which they see products for sale. This is great for both buyers and sellers because it helps them know if they are legitimate.
Having local buyers and sellers can help more than you think to make money on Facebook. This way it won’t be a scam that is coming from halfway across the world. Facebook users will be able to verify the seller’s reputation on their Facebook account.
Everyone Can Access Facebook Marketplace
Another reason why Facebook Marketplace is great for making money on Facebook is that everyone has access to it. Facebook Marketplace is not exclusive to Facebook members. In fact, it’s more similar to how eBay works – all you need to have is access to the Internet. This means that sellers can spread their reach beyond Facebook’s already huge user base without lifting a finger.
Making Money with Facebook Ads
If you have a business page on Facebook to sell products and services, Facebook ads can help increase your sales drastically. When trying to make money on Facebook as a business page, remember that people come to Facebook to chat with their friends and catch up with what their acquaintances are doing – not buy your product.
Thus, you have to be smart when running Facebook ads. Not only do you have to push people to buy your product on a social forum, but you have to pay for your ads, so you want the investment to pay off.
When running Facebook ads, there are three main things you need to consider:
- Objective or content of the advert
- The target audience you wish to see your ad
- The total amount of money you want to invest (remember that the duration of the ad affects your budget)
To monetize your Facebook account further, you can check out some courses on how to use Facebook to your advantage. Plus, the Facebook website has some helpful tips on what types of ads you can run on their site. Not only can you buy banner or post ads, but you can also run ads before, during, and after a video you post.
Affiliate Marketing to Make Money on Facebook
However, on Facebook, it’s a little different. With this social media platform, you become an affiliate marketer as an influencer via a fan page.
Influencers are successful on Facebook because they have already gone through the process of building a following. Affiliates need to do the same thing on Facebook because it is very different than other social media sites.
The Facebook selling formula is:
- Bet Useful
- Be Authentic
- Sell Occasionally
- Earn Big Facebook Sales
The basis of affiliate marketing stays the same as mentioned in my other articles on the topic.
Another way to make money on Facebook that is similar to affiliate marketing is with referral links from other companies. There are quite a few companies that offer cash bonuses for a referral. You can share a special link on your Facebook page, and if any of your friends sign up through that link, you will receive a cash bonus.
A Final Word: Who Can Make Money on Facebook?
There are many ways to make money on Facebook. However, it’s important to keep in mind that most of these methods are for individuals.
As mentioned, Facebook will prioritize individuals over businesses, so it is easier to monetize or make money on the site as an individual. And, before thinking about making money on Facebook, make sure you know what you’re trying to do.