For a long time I've read about people making a ton of money online. Some designed a product, had it built in China, and opened up an online ecommerce website. Others talked about affiliate marketing and built websites that promote someone else's products, with amazon.com being one of the most popular stores to get paid a commission. I found much of this overwhelming! Where do I start?
Familiarity and experience are two things one should use to your advantage in starting any new business venture. Facebook is the most popular social media platform and is one of the easiest to monetize. We've created a nice infographic visually showing you how to make money on facebook.
Why You Should Use Facebook
Imagine setting up a lemonade stand in front of your house. If you live in the typical suburban neighborhood, you'd most likely see less than 100 people in an hour. Not that many people would see your stand and most would be in a car, so not ideal target customers.
But imagine if the lemonade stand was in the parking lot of your neighborhood park on a Saturday. Lots of people on foot, many of them thirsty kids from playing in the park or parents watching their kids. This is an area with alot of people, and accessible.
That's what Facebook provides, a lot of people, with a portion of them that are potential customers. Venturebeat reported that it was estimated there were 1.79 billion active Facebook users per month!
How Much Money Can You Make
How does $100k in 5 months sound? Yeah, that'd be awesome! Benny Hsu is an online entrepreneur that focused on making money on Facebook. He had some challenges in the beginning but eventually found a system that worked for him. Read more about his journey here.
Make Great Posts
The great thing about Facebook is that it has billions of active users. The challenge is getting yourself engaged with the right people that are potential customers. To accomplish that, you need to have the goal of being an active community member. Many beginners focus on selling or finding customers. But that should be a lower priority in the beginning. Sounds a little counter-intuitive, but it's the best strategy when you're trying to build an audience.
Content is King
Now that you have a separate page for your business, it's now time to do the #1 most important thing, publish interesting content.
The content should be related to your niche. If you plan to make money on the niche "drones", you would do good to publish interesting content such as:
- How To Fly A Drone
- New Drones On The Market
- How To Buy A Drone
- Why Buy A Drone
- Cool Video's Taken From A Drone
- Awesome Aerial Stunts With a Drone
- Drone Jobs
Now, do what's natural on Facebook. This doesn't mean you have to write and publish all original content. Lots of people re-post someone else's article. So go find some "trending" topic related to your niche, and republish the post.
With time, and enough engaging and interesting content, people will start to Like and Follow you since you are giving them something of value. Gaining an audience and a following is the #1 goal with content, especially in the beginning.
As we already mentioned, there are lots of ways to monetize Facebook. You can sell your own product, you can link people to one of your websites that sells products, or the simplest one to start with, using affiliate links to send someone to someone else's website that sell's products.
An affiliate link is nothing more than an embedded link on a word. That word, if clicked on, takes that reader to someone else's website. The cool thing about links, you can embed in them a unique ID that identifies that you were the one that referred that reader to that website.
To make affiliate advertising work, you first need to find an online store that has an affiliate program. Or use a service that promotes several affiliate programs. Popular ones are Commission Junction and amazon.com. There are lots of rules and regulations from those providers as well as within Facebook, so be sure to read the contract, terms, and conditions. They actually get enforced so it's wise to make sure you stay within their boundaries.
Affiliate advertising is highly recommended for a beginner. There's no product to design, produce, package, warehouse, and ship. None of the logistical nightmares. You make more money selling your own product, but there's alot of risk as well. As a beginner, focus on proving to yourself you can make money online. We've found that making a commission on every sale, say 5%, is a great way to make money and your entire effort is focused on advertising. That's actionable, focused, and can be learned. Once that is a skill you possess, then start branching out to other methods of monetization.
Create A Fan Page
In most situations, creating a separate page for your business is the best approach. You can't create a separate account for your business page, so you'll have to create it from your personal account. But it accomplishes exactly what you want, a separate identity from your personal life on Facebook.
These were called Fan Page's and are also known as Brand Page's now. The best part is, they function just like you're personal page, but you can put branding on it like your business logo, a separate Facebook Cover picture, messaging about why the Brand Page exists, etc.
Ultimately, that Fan Page ends up being it's own entity. You should strive for it to be delivered in a google search on your niche topic.
Write An E-Book
E-Books are awesome. Basically, if you like to write, or have the funds to pay a writer (ghost writer), you can get a E-Book written. It doesn't have to be a 200 page novel. Think simple, something like an E-Book could be as quick as 10-20 pages with a bunch of pictures, it all depends what you want in return. Once the book is written in a word processor, it's time to hand that document over to a professional such as on fiverr.com or konker.io and let them convert it to an E-Book.
Once you have it, you can try and sell it thru Facebook. Or promote it on Facebook by pointing people to where you're selling it (ie amazon.com). Many people find value in getting an interested community of users by gathering their email addresses. You could use the E-Book as an enticement in return for their email address.
You should have a goal for that book, and then figure out what topic you need to publish on that topic. And the level of detail, depth, and expertise needed. For example, if you're selling a book on how to get a drone pilot's license, you'd better have some great first hand experience if you plan to get paid for that E-Book. Afterall, the buyer's are expecting a comprehensive manual on how to get a drone pilot's license.
On the other hand, if it's simply a guide, or a quick study on how much money you could make as a drone pilot, or an example of the skills most people have that allowed them to become drone pilots, that might be more suitable as a giveaway in exchange for something else, such as an e-mail address.
Trying to monetize anything online takes work and effort. Unlike what most people will tell you, we're going to be tell it like it is. In the beginning, there's alot to learn and alot to read. It will take work and effort to get that first dollar. Some people get quick and easy money, but for the majority, it will take some time and effort to be successful.
Like a real businesses, there are people that are focused on Sales, Marketing, or Operations. Some people have the skills to do all these jobs in their online business. But most people focus on one area that they're good at, use tools to make it easier to manage Facebook, or choose to outsource it to a professional at a reasonable price. If you have the time, do it all. If you sit back and put a price on your time, you may come to the realization that finding trending posts to publish 5 times a day isn't the best use of your time. Maybe you should use outsource it to a pro on Fiverr.com. Or use an automated tool like Hootsuite.com.
The point to make here is, it's easy to get overwhelmed. Many first timers think they need to learn how to do everything, then attempt to do everything themselves, and find out there's so much to learn to be really good at it. And ultimately decide to call it quits, spending some money in the process and losing it all.
We hope you learned some great tips on how to make money on facebook. This is just skimming the surface, but that's about all you can achieve on a single post. The goal here was to demonstrate that there's money to be made online, and one of the best chances of success can be found thru Facebook.
There are no guarantees. But the cost to try, also known as risk, is mostly your time and a little bit of cash. The rewards could be great. In this day and age, online money is one of the best methods to try with the least amount of risk. You just need to find the method that works for you.