Facebook is the largest social media platform in the world. With 2.7 billion monthly active users there are some incredible opportunities to find a large audience and make some money with the platform.
Can You Make Money with Facebook?
The answer is yes. Absolutely. In fact, there are a lot of different ways to make money on Facebook. This article will review some of the most common ways (as well as a few less common ways).
Pick a Niche and Create a Following
The first thing you need to do is pick a niche and create a following on Facebook. All forms of Facebook monetization rely on this. This part of the process is crucial, and there are lots of ways to do it. For that reason, I’ve written a separate detailed guide on how to do it. You can read it here: 6 Ways to Get More Facebook Followers
The Facebook marketplace is the easiest way to sell products on Facebook. Just post a professional picture of your product, choose a category, include a price, include a detailed description about your product, and you’re ready to go.
Also, selling on the Facebook Marketplace is absolutely FREE. Facebook doesn’t charge a dime. But there are a few rules that you must follow:
- The item you are selling should be a physical item; for example, “in search of” posts, lost and found posts, jokes and news are not allowed on the Facebook marketplace
- You cannot sell any sort of service on the Marketplace; for example: virtual assistance
- Selling animals (including posts about adoption of animals) is not allowed
- Your product pictures should not show before/after pictures (as is often done with weight loss)
Be sure to follow all the Facebook guidelines; otherwise you could get banned from the marketplace.
Here is a list of items you cannot sell on the Facebook Marketplace:
- Adult products or services
- Digital media and electronic devices
- Event tickets
- Gift Cards
- Healthcare items (thermometers, first-aid kits, etc.)
- Illegal, prescription or recreational drugs
- Tobacco products or tobacco paraphernalia
- Unsafe supplements
- Weapons, ammunition, or explosives
If you do not have your own products to sell, you can promote affiliate products by posting the products pictures, price, description, etc., of the products you are promoting, and then you can redirect all traffic through an affiliate link. Keep in mind that the orders must be shipped within 3 days and received within 7 days, so make sure the products you’re promoting are eligible. Also, be sure to check the terms of service for the affiliate program you are using as some companies to not permit direct linking from Facebook.
Be sure to keep your Facebook page free of direct sales. Your page is the place to grow your audience, not to sell products. This is not a hard and fast Facebook rule, but it is definitely a best practice. People visit Facebook to chat with their friends and family and to entertain themselves. Most visitors are not looking to buy anything. So the goal of your page is to provide valuable content. You want people to return to your page frequently and to begin to trust you.
Having said that, your Facebook page is the perfect entry into a sales funnel. If your content is entertaining, educational, or provides value in some way, then your visitors will progress through your sales funnel. We’ll talk more about sales funnels in a different post.
This is probably the most straightforward way to make money on Facebook; however, this is also one of the most difficult because it requires the largest following. You must have a LOT of followers or brands/companies will not be interested in paying you to promote them. Other methods of making money require far fewer followers. If you do have a lot of followers, or plan to get a lot of followers, then this will work.
Influencers usually have super targeted audiences around a specific niche. The members of this audience are often like-minded people who share similar values. Influencers build trust with their audience, and with that trust, they have the power to set trends and drive sales. For this reason, brands and companies will approach influencers as an effecting marketing and advertising method. They pay influencers to sponsor their brands or companies, ensuring exposure to a highly targeted audience.
Here’s an example. Consider the brand “Clear”.
Clear is a health and beauty brand that sells a wide variety of shampoos; this company is known for its anti-dandruff shampoos, especially for men. This brand has hired Cristiano Ronaldo to promote its products.
Obviously this is a somewhat extreme example. Few of us will achieve the fame (and number of followers) as Ronaldo; but the concept remains the same. If you grow a large enough audience, then you will have opportunities to get paid by sponsoring companies.
This is by far the simplest method of making money on Facebook.
Facebook has recently made available a new feature called In-stream Facebook ads. This feature is available to people who post quality videos on their Facebook page (and get a lot of engagement on those videos). If you have such a page – or plan to create one – then you can easily monetize it with Facebook’s in-stream ad option.
The types of ads you can run are as follows:
- Pre-roll Ads that run before the video starts
- Mid-roll Ads that run at a chosen point in between the video
- Static Image Ads that display at the bottom of your video
In-order to run ads on your videos, there are some requirements:
- Your videos should be from your page and not from your profile
- You must meet Facebook’s Partner Monetization Policies
- The page from which the videos are published should have 10,000 followers
- In the last 60 days, you should have had at least 30,000 one-minute views on videos that are at least 3 minutes long
- In-stream ads should be available in your country and language as listed here
- Your videos must be at least 3 minutes long
Getting Started with In-stream ads is very easy; you can do it from Facebook’s Creator Studio. From there you can select the page(s) that you want In-stream ads on, review and accept Facebook’s terms and conditions, choose the payment account to receive your earnings, and enable automatic placements. There are a lot of other things you can do as well, like customize ad placements etc. But this is the basic process.
Fan subscriptions are a great way to earn money, especially if you have exclusive content that people would be willing to pay for. Fan subscriptions charge your subscribers an amount set by you on a monthly recurring basis.
In order to get more paid subscribers you can include various benefits such as:
- Access to exclusive content. For example, if you make videos you can give your subscribers access to “behind the scenes” videos or other entertaining content which is not available to normal followers
- If you have an online store in place, you can provide special discounts to paid subscribers, or you can provide access to exclusive products before they hit the market
- You can also create live videos – available only to paid subscribers – where you directly connect with people, do Q & A Sessions, take feedback, or genuinely just spend time with people and thank them for supporting you
By default all your supporters will get a support badge next to their name in the comment section of any of your posts.
If you want to create a certain post for your supporters only, you can just type #supporters in the post and it will mark itself as a paid-subscriber post. Also, to restrict live video sessions to paid-subscribers, you can go to “Audience Restrictions > Supporters Only”
To be eligible for paid subscriptions you should be in compliance with
- Monetisation eligibility requirements for creators
- Fan Funding Creator Terms
- Apple’s App Store guidelines for subscriptions
In addition, your page must have 10,000 followers or 250+ return viewers and 50,000 post engagements (or 180,000 watch minutes) in the last 60 days
To add fan subscriptions to your Facebook page you can go to Facebook Fan Subscriptions options in Facebook For Creators.
Let’s take a look at an example:
This Facebook page has a “become a supporter” button enabled for its fans and when we click on it, a video pops up of the page owner explaining all the benefits of the subscription.
As you can see on the bottom right, the subscription is for $4.99 / Month which you can cancel anytime.
You may have noticed that all these methods have something in common: they all require you to have a following. For that reason, I’ve written a separate, detailed, guide you might be interested in: 6 Ways to Get More Facebook Followers
I hope this guide was helpful. If you have any questions or comments, please leave them below.