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You are here to know whether or not people can make money on Facebook and yeah, you’re at the right palace.
Since the advent of the website in 2004 by Mark Zuckerberg and Edward Saverin, Facebook has grown to become the world’s largest catalogue of people online and at some point, if you were not on Facebook, you were either living in the bush or just out of the world.
With over 2.6 billion active users monthly, the world’s most known social media site is a source of revenue to the ones who know how to utilize the platform to make money.
It’s however much unfortunate that most users do not optimize this platform to their benefit and only spend hours daily scrolling through their news feed without anything ever dropping in the wallets or bank account.
This article is aimed at helping readers understand the various ways they can tap into the money-rich bank of Facebook and enrich themselves either in meager forms as a supplementary source of income or as a full career path.
Yes, it’s that good.
Requirements to make money on Facebook
- A Facebook account – This obviously is the most basic need to earn money on the platform, right?
- Your synced email address – This is best for security. I’d advice you set up a device-lock security. That is the most secure form on the platform.
- A fair number of following
- A page or a group (optionally)
- Transaction account – To receive payments made by bidders
Ways to make money on Facebook
Before commencing, one needs to understand that the Facebook team is not responsible for payment or transactions of any deals on the platform. Payment transactions from earnings on the platform are not by or to Facebook instead – third party payment platforms such as Paypal, Paystack, are used instead.
N.B: There is not easy money here, it’s a process that should be learnt and practiced before making money is even an option.
How to make money from your Facebook profile
Facebook users can promote the products of other brands and businesses in return for commissions made on sales of such products. Commission is an agreed sum/percentage of a product’s price slashed for affiliate marketers upon sales.
Marketers earn as high as 50% of the price of goods and services and as low as 1-3%. It all depends on what is being sold.
Influencers in certain niches get paid to promote products and services of various brands. It works best when in one niche or in a closely related one.
For example, a well-known hairdresser with a good number of followers on Facebook may get approached by a start-up in the hair-making industry to help them with promotion on their social channels at a price negotiable.
In most cases though, it is the influencers who approach the brands first.
So the next time you discover a new brand in your niche and you’re sure you’ve got a good following (from that niche), it does no harm to approach the team/administrators and bring up such proposal to their notice.
You get paid for doing nothing other than making a post about a product your followers are interested in.
Big brands such as Coca-Cola, Jumia, Jiji hire social media managers to consistently keep their pages engaging with posts, update, community reports and so on.
Most social media managers are freelancers who work from home and such opportunities abound on the Facebook platform.
This aids active and engaging users of such platforms open to such opportunities.
Since organic reach on Facebook has and is continuously dropping in a bid to favor advert runners on the platform more than the average users.
The opportunity running an ads campaign on Facebook is literally endless. This is because there are just so many users of the platform and when properly targeted, the results of running on single ad on Facebook can shadow all previous errors trying to make money with the platform.
You can set up an ads account with your names of your choice and pick the most suitable ad bundles for whatever purpose you wish to run an ad for.
To better optimize adverts on the platform, brands reach out to well-known/effective campaign runners and pay for such services.
Adverts are run on the platform for various motives e.g. brand awareness, product awareness, lead generation and so on.
Advert running on Facebook is a learnable skill and almost anyone who knows how well to target potential customers could become a 6 figure earner just through doing this alone.
How to make money from Facebook Pages
Facebook pages seem to be one of the most effective methods to earn revenue from the Facebook platform.
After growing a page (for personal or business reasons), many newbie page owners frequently are willing to pay a token to page owners with a boisterous amount of followers and likes.
Such pages are promoted through several tactics such as sharing of posts & updates, page mentions or post creations.
Brand advert placement
Pages with a strong following get approached by brand owners and budding entrepreneurs with the motive of being promoted by them of course at a price agreed upon!
Why else do you think Broda Shaggi; just as many other social media influencers upload photos and promotes new brands on with their social handles?
Think it’s free? Well, think again!
You can decide to sectionalise such procedures or just generalize the whole adverts.
Brands employ and imburse marketers over the web to promote products using various strategies and tactics within the Facebook purview.
Unlike affiliate marketing, these promotions are not commissions but instead are made by digital marketers for wages or sales payments (I am not a money guy so I’m pretty sure there’s a legal name for it but who cares? The whole idea is you get paid a fee based on how much products you are able to sell during a project period.)
Pages can be a highly valuable asset to an owner. This is because there are just so many things one could achieve with their Facebook pages.
After getting a good number of following and engagement, you can actually put such pages up for sale and if trust me; if the engagements is as the numbers – then you’ve got a good money-minting machine already.
Got something you can teach for money?
Webinars are basically online/web seminars. An event people sign in to attend some offline events and master classes for a price.
Webinars can be promoted on pages and event schedules set up to prompt interested participants with notifications and payment procedures.
How to make money from Facebook Groups
This should only be applied on groups that are originally paid for or normal groups with a large and engaging audience. I’d advice no group owner with less than 10,000 members to monetize his/her Facebook community.
Advert placement on group cover
The group cover is actually an interesting part of a group.
Why? Because everyone sees is – every time they enter the community and even every potential member of the community as well.
Administrators and moderators of communities can monetize their group cover although I would not advice this for the reason that it might affect your public outlook – especially to potential members.
Advert placement as announcement
Another highly effective faction of a group to monetize is with announcements.
Admins can allow brands to publish contents they wish to promote and then ‘Mark as announcements’.
To further ensure the conspicuousness of such ads, they can be ‘Pinned to Top’ in the community. This makes it appear at the top of the group’s feed.
This is probably the most common tactic group owners utilize to monetize their Facebook communities.
If you’ve ever seen an #SponsoredPost tag at the top of a post by the community’s administrator, you should understand that’s a paid for post.
You’d be surprised people nowadays are paid to manage Facebook communities.
Hell yeah – it’s now an employment too.
But of course to get to this stage, one must have shown enough distinctness in managing Facebook communities to be worthy of this sort of position.
N.B: This is a recent development and so it would be quite difficult to find such opportunities and to be fair, they are rare in African nations.
Organizing paid-for Community events
As a community owner, one can frequently organize paid-for events such as e-workshops, seminars, webinars, training, launch parties and so much more.
The idea is to provide value for a closed Facebook group in-house and get interested members pay to attend such programs.
E.g. a writing community can create an event tagged ‘How To Write Your Way to Success’ – and choose to monetize the event.
Having a following (a strong one preferably) is the easiest kick-start any entrepreneur would require to succeed with trying to earn money from Facebook.
Not having a strong team of followers however doesn’t deter one form earning from the platform. It all starts from somewhere. You can start building and promoting yourself today.
There are our 15 ways to earn money through Facebook covering how to make money on Facebook with a profile, page and even communities.
We hope you got value from it, if you did – do well to share with fellas.
You can check other posts relating to making money online in the archives.