Updated: Jul 17, 2020
With more than 1.73 billion daily active users, Facebook is the top social media platforms we have. Apart from being a social media website, it is also a great advertisement tool for online and offline businesses worldwide. Companies have expanded their customer base, social media presence, and daily reach by leveraging the platform to its fullest.
While Facebook seems a pretty good option for companies and businesses around you, an individual can earn a lot from it as well if the power of Facebook is used properly. Let's discuss a few of those methods.
1. Affiliate marketing
Affiliate marketing is an old technique. If a sale happens due to your digital activity, you get a small commission from the service provider. Let us take an example of Amazon. Amazon is a marketplace for a variety of products starting from a little pencil to a high-end laptop. Amazon offers its own Affiliate program called Amazon Associates. Suppose I am an Amazon associate, and I added one of the product's affiliate link to this post. Once someone clicks on that particular link and completes the purchase, I get a small commission.
You can also signup for the Amazon Associates program, create affiliate links for the products, and promote it through Facebook. And if you have an excellent personal reach on social media, people will surely click on those links because people trust real people's opinions more than brand advertisements. If you need any help to start Affiliate marketing and need some help, you can comment on it below. I would be to assist.
2. Become a social media influencer
A social media influencer has a good hold on one of the social media platforms, with the right audience listening to the person and following him or her. As per the discussion in the previous point, people trust opinions from trusted sources more than any brand. Here, influencer marketing comes into the picture.
Previously it was quite easy to become one social media influencer on Facebook because Facebook's algorithm was totally dependent on someone's organic reach. The time has changed, and the organic reach has declined to 5% of your actual audience. To beat that, you have to be consistent and hardworking. You have to post regularly and connect with people through the platform.
Many brands hire people with good social media reach and influence and ask them to promote their products and services on their social media profiles. You can make the right amount of money out of it if you are one of those people.
3. Develop apps and games for Facebook
If you are familiar with the platform, you must have been aware of the apps and games available on the platform. For example, "Which actor you resemble with - quiz.". These small quizzes are pretty simple, but the real question is why someone will put their efforts into developing such simple apps on Facebook, right?
The answer to the question is what people love, what they engage with, and ultimately earn money. The majority of people on social media platforms like Facebook and Instagram are only there for entertainment purposes. And the fact is, those people find these small quizzes very addictive. Now another question is, what benefit the developers get out of it? It is quite simple, they embed different ads on with their Facebook apps and earn daily revenue from it. The effort is pretty low, and return is high if you can get your apps in front of more audience.
4. Sell stuff on Facebook Marketplace
If you are someone with an existing offline business of selling products, Facebook allows you to take your business online using the Facebook Marketplace option. And the onboarding process with quite simple. You just need to create a Facebook profile and then visit the Facebook Marketplace.
There you can find the option to sell something. Click on the button to see two options, item for sale/or properties for sale or rent. If you want to sell your product, choose the items for sale option, and provide all the details asked in the next screen. Once the process is finished, the product will start showing to the people nearby.
You can sell new products, as well as you can also resell your old products at a reasonable price using Facebook Marketplace. House rental and sale is another option present in Facebook Marketplace in which you can list your property for rent.
5. Manage pages of other businesses
Facebook pages are one of the best ways for brands and local businesses to connect with their customers. While big companies have a reasonable budget for social media marketing and branding, the same thing can not be said for the local brands and small businesses. Often, they don't have the budget to hire professional digital marketers, and sometimes they don't have enough time.
If you understand Facebook and want to help those businesses with their social media content creation and post planning in exchange for money, you can contact those businesses. If you can get five or six deals, you can easily make your living out of it.
6. Become a social media consultant
While social media is fascinating and addicting, many people and businesses still do not know how to use it properly. Social media consulting is the process of reaching out to and engaging with the customers using social networking channels on behalf of a brand. In the previous point, we discussed how you can help a business with managing its Facebook page. Similarly, if you are good at creating social media sales funnel, you can start a social media consulting business immediately.
7. Rent out Facebook Pages and Groups
Facebook has two main features for the brands available on their platform; one is Facebook Pages. Another one is Facebook Group. While Facebook Pages help the brand connect with potential customers, a Facebook group helps them overall marketing activities. And not to forget the engagement in a Facebook Group is much higher than a Facebook Page.
If you are a person with access to multiple Facebook pages and Facebook Groups with a targeted audience, you can rent them to other businesses.
I have friends who manage Pages with 1 lacs likes and a good audience base. They rent out their Pages at $60 a month per business. And the clients are allowed to post three articles or promotions each on the Facebook Page.
8. Earn money from Adsense
Now, if you are a blogger, you have a lot of opportunities available on Facebook. You do not have to learn specific skills or do some extensive tasks. You just have to be social on Facebook and start sharing your blog articles on Facebook.
The more audience you have, the more people will read and engage with your article. Engagement on social media is quite high in comparison to your own blog. You can use it as leverage and put Google AdSense code on your website to serve digital ads. You can do a long term income if you succeed in doing so.
9. Earn from Facebook Audience network
We have already discussed how you can leverage Google AdSense to earn some real money in the previous post. Similarly, Facebook also offers its own Advertisement service called Facebook Audience Network. This service only works on Facebook and its sister products.
You can create a Facebook Page for your blog and verify your domain name with it. You can apply for Facebook Instant Articles and serve Facebook ads on your Instant articles to earn some money.
10. Promote local events and businesses
Facebook is a perfect tool to make local connections. And if you are a person with an excellent local reach, we have the best solution, even if you don't own a Facebook Fan Page or Group. You can use your personal profile to promote banners and text-based advertisements from various local businesses and local events. For example, you can sell some even tickets to get a commission out of it.