How to Make Money on Facebook
The Wealth Gang team writes about financial information, passive income ideas, apps, programs, cash management tools and other wealth gadgets that we think you might want to use or learn more about. Sometimes, we write about products, services or items that might be associated with affiliate partnerships. In these instances, we will earn a small percentage of the revenue from sales. There is, of course, no cost to you.
Thank you for all your support! Without you, we could not keep this site running. Gang Gang!
How to Make Money on Facebook
No one can deny Facebook’s popularity. As a social media app, it boasts more than 2.5 billion active users monthly, with 1.37 billion actively using it every day. With this number of users, Facebook has become a global phenomenon.
As such, it is no surprise that more and more people are finding creative ways to earn from it. Indeed, Facebook can be a great source of income. This article will show you everything you need to know about how to make money on Facebook.
What is Facebook?
Facebook is the largest social media network worldwide. Since its creation in 2004, Facebook has been providing a platform for people to connect with anyone from around the world.
What started as an app reserved for Harvard students blew up into becoming a social media giant today. But how did it start? You may have heard of Facebook’s history before. In fact, a whole movie was made about it.
To recap, then Harvard student, Mark Zuckerberg, together with his friends, initially launched Facebook to their university. They created it to connect with other students easier. Within a month, more than half of the undergraduate students in the university had a profile. Word came out, and it expanded to regional universities, the Ivy League until it had users from across the globe.
As of January 2020, India, the United States, and Indonesia are the top three country users of Facebook worldwide.
How Does Facebook Work?
To access Facebook, you need to create an account. Like other social media networks now, you need to fill out the required information about you. Make sure you have a working email address. After successfully creating an account, you can now set up your profile.
Facebook users can add “friends” or contacts you wish to be in touch with. Once they accept your friend request, you can now chat with them and see updates regarding them. Users can also join groups based on different criteria. From the workplace, universities, or even public groups sharing the same interests, you can be part of it if you fit their criteria.
For some groups, however, you need to get approved by an administrator or a person who manages the group. Public groups, as what its name suggests, can be freely accessed by anyone.
With its rich history, Facebook has also added several features for you to interact with others. You can play a selection of social games or share posts and pages to engage with people. Facebook’s user interface is also easy to understand, so you’ll get the hang of it in no time.
How to Make Money on Facebook?
The secret to earning on Facebook is its market. Facebook has more than 2.5 billion active users. If that seems like just a bunch of numbers to you, then you might need to think again. To put it in perspective, Facebook users amount to more than a third of the world population right now.
With an audience of this scale, Facebook is a great avenue to sell your products and services. That is one of the most popular ways to earn on Facebook. But before zeroing in on that and other ways to make money on Facebook, you need to do one thing first: Create a good profile.
How Can I Build a Good Facebook Profile?
If you want to sell something, you need to look credible. It is one of the oldest tricks in the book, and it also applies to Facebook. You need to capitalize on your profile. Make sure you have a clear photo of yourself for your profile picture. If you have a page for your business, it needs to look professional. As much as possible, use your own business logo and not just a random photo to build your reliability.
At the same time, make sure you have compelling and engaging content. All necessary information must be there so people can quickly get in touch with you.
With the number of accounts on Facebook, it’s easy to get scammed. A lot of people are reportedly being tricked into buying something at a higher price or not getting the product at all. You don’t want to be put into the same category as those. You need to stand out.
Seven Ways to Make Money on Facebook
After setting up a profile, you can now earn on Facebook. Like many social media apps, Facebook offers a lot of potential ways for you to make money.
Here are seven ways to do it.
1. Sell items on the Marketplace
Recently, Facebook launched its own section to buy and sell items in their app. The Facebook Marketplace allows you to sell your products to anyone. Your buyers can also easily see your products while considering your location.
The Marketplace has filters that can help its users find what they’re looking for better. Make sure you complete all the required details on your post if you want to sell something fast. Selling is the Marketplace is not limited to online businesses. If you have items that you don’t need anymore, you can sell them here. Many people are also looking for preloved items, especially if the product is still in prime condition.
2. Join Buy and Sell Groups
Aside from Marketplace, you can also sell your items in different groups. There are many buy and sell groups available online. There are even groups that are specialized in a particular product. For example, there are groups reserved for Apple products and groups based on your community’s geographical location.
The easiest way to join a group is by getting an invitation from one of your friends who’s already part of it. This invitation will pop up in your notifications, and you can easily be redirected to the group once you click it.
On the other hand, you can also search for the name of the group if it’s a public or open group. If you don’t have any group in mind yet, you may click the “Buy and Sell Groups” in the Explore menu to see your options.
All groups have a policy of their own, so make sure you read their guidelines once you get accepted.
3. Create an Online Business
If you want to set a name for your own business, then feel free to launch it via Facebook. More and more entrepreneurs are building their own startup business online. After all, it provides many benefits. It is cost-effective, and it’s also easier to transact with potential customers.
To leverage your online business, make sure that your own page has plenty of content. You can also create a separate group for your loyal clients so that you can engage with them better. It also builds intimacy within your community. In this way, you may also increase your customer retention rate.
If you want to read books on how to start an online business, you may refer to this list.
4. Be a Social Media Manager
Being a social media manager is one of the up and coming jobs of the decade. It pays well too. If you’re more than familiar with Facebook, you can actually apply to become a social media virtual assistant. Most of the time, this is also a remote-based job so you can earn in the comfort of your own home.
Basically, what you’ll do is to oversee social media posts from a page or an account. It may entail doing the following tasks:
- Scheduling social media posts
- Designing social media graphics
- Responding to comments or inquiries
- Interacting with followers
- Monitoring ad campaign metrics
- Building the audience size
Make sure you stock up on your knowledge and skills to handle another profile properly. You also need to be creative to engage with your market actively.
Although becoming a social media manager is not only reserved for Facebook, a massive chunk of it will be on the app. To be sure, familiarize yourself with other apps like Instagram, Pinterest, and Youtube to make you fit more to the job.
5. Enter Contests
Nowadays, a lot of companies make use of Facebook to publish information and updates about them. Sometimes, they even hold online competitions via Facebook. This is another way for you to make money on the app.
Make sure you follow companies that are known to conduct online games like raffles and giveaways. Most of the time, joining is free, so that anyone can do it. Their contests are mainly to increase their promotions, so it might be challenging to win, especially if the winner will be randomly selected.
Thankfully, many groups post updates about this so you can filter out the contests you want to apply to. Since it’s free, you might run into some competition so it’s best to join contests that you think you can win. Although a long shot, entering contests can give you a chance to win gift cards, discount vouchers, or even gadgets. Make sure to choose wisely.
6. Create Content as an Influencer
People refer to social media now for information. As such, your content holds a lot of value, especially if you’re a credible figure in the online world. Many companies are looking for different ways to sell their products. Sometimes they hire influencers to do it for them.
As they are called, influencers have a say on different things. If you’re an influencer with more than a hundred thousand following, then companies can partner with you to sell their products.
If you get the deal, chances are, they’ll send a sample of their items to you and request you to write about them. Sometimes just sharing it on your profile also does the job. You’ll also get a hefty amount of money in return if they’re generous enough.
It’s no wonder people are looking into blogging and other content creation services to generate some passive income. Blogging as a source of passive income, for example, allows you to earn depending on the audience you have.
Of course, this will not be easy, especially if you have a small network. However, there are many ways for you to learn and master affiliate marketing.
7. Post Facebook Ads
There’s money in advertising. This is made easier in the digital world. In fact, the majority of Facebook’s revenue comes from advertising. Companies are clamoring for content on Facebook because of their coverage. They even hire others to post their ads on social media.
Whether you’re a part of a business that handles Facebook ads or you’re just interested in earning some side hustle, posting ads in social media is an excellent place to start.
To do this, you can create a paid ad using the Ads Manager. This is a platform that allows you to publish and manage the performance of your ads to a targeted audience. Here’s a quick crash course on how to make money on posting ads on Facebook.
- Log in to your account.
- Create a campaign by clicking the green “Create” button.
- Choose your campaign objective.
- Select your audience.
- Set your budget.
- Schedule your campaign.
- Determine the delivery type.
- Launch campaign.
- Monitor the progress of your campaign frequently.
If you want to be serious about it, you can always innovate. Make sure to track your campaign’s performance so that you can determine the best ways to optimize it. On Facebook, everything is fast-paced. If you really want to make money on it, you wouldn’t want to be left behind.
To help you learn more about this niche, you may check out How To Make Money Posting Ads On Facebook by James White.
Buy a copy now from AMAZON.COM
As of January 2020, 98% of active Facebook users use the platform via their smartphones. Everything is a click away, literally.
As the world becomes increasingly closer through the Internet, several opportunities to make money online are also open. It may come as an unfamiliar territory for some, but social media apps are certified ways for you to make money. Whether you have an online business, or if you just want to earn remotely, Facebook is an excellent place to start.
However, its vibrant market can be a double-edged sword. People can easily drown in information overload, but it also means you can tap more people. Given the right strategies, you can make money out of it.
One in three people uses Facebook. Use this information to leverage your profile. Take a shot in the billion users out there. Who knows, you might get more than what you expected – just like how Facebook surprised the world.