With over 2 billion monthly active users as of 2017, Facebook is the world’s most-used social media network. This creates an opportunity for everyone to earn money if they know how to. In the past, people have tried different channels to answer the question of how to make money on Facebook. However, just like most other means to make money, it’s not without its challenges.
From affiliate marketing to running ads and selling directly on its marketplace, trying to make money on Facebook without knowing the best ways too may leave you frustrated. There are new and exciting ways to earn on the platform by monetising your audience which we discussed in detail in this article.
How to check your monetisation eligibility on Facebook
Although there are several ways you can make money on Facebook, you have to be eligible first. This means your Facebook page and the content on it have to meet the platform’s eligibility criteria.
1. Facebook Community Requirements:
These include basic rules like no unsafe or graphic content. Also, explicit groups should be registered as so under the 18+ tag.
2. Partner Monetisation Eligibility:
This refers to rules for your Facebook page as a whole, including the content you create, how they are distributed and how you make and receive payments online.
3. Content Monetisation
These rules apply to every piece of content you post. It includes no spreading of false information, hate speech, or profane or violent content.
You can check your eligibility requirement by visiting the Facebook tab of your creator studio and navigating to the monetisation tab. Proceed to select which of the monetization eligibility you wish to see. Subsequently, ensure you stay eligible with new policies and releases to stay monetised.
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Top 10 best ways on how to make money on Facebook
Here are the top 10 ways to make money on Facebook:
1. Drive visitors to your online store
Leveraging the large volume of users on Facebook, you can direct traffic to your store through the platform’s eCommerce features. This model works wonders for brands who already have a small business on Facebook, who can then proceed to include strategic and powerful calls to action on their page.
Facebook allows you to define and select a specific target audience you like to reach through ads. Otherwise, you can build a following of your preferred target audience and encourage them to patronise your business.
2. Brand Collaboration
Brand collaboration simply refers to the act of partnering with strategic brands to increase your reach and diversify content output. Lots of brands are looking to work with creators, influencers and other businesses on the platform to expand their organic reach and improve brand awareness. This can also help increase your follower count and user engagement.
However, note that you must have accumulated following to an extent before brands will be willing to partner with you. No brand will be willing to work with an account that has only 500 followers for example, due to obvious reasons. You have to bring something to the table that they value, which is most times, your organic reach.
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3. Redirect traffic from your Facebook page for a fee
After growing your Facebook page and accumulating lots of traffic, you can redirect such traffic to an external blog post for a fee. For example, companies can request that you post their link and encourage followers to visit their site, while you get paid. Basically, the sum you can demand depends on how much traffic your page has.
4. Affiliate marketing
Affiliate marketing remains one of the oldest and most effective ways to make money on Facebook and the internet in general. Essentially, it involves you promoting products of other brands and getting paid when someone buys by clicking your affiliate link. With affiliate marketing, you receive a percentage of the product price when someone buys with your link.
Depending on the company’s offer, some affiliate commissions could be as high as 50% or as low as 5%. Examples of platforms that offer affiliate programs include Amazon, eBay, ClickBank, etc.
5. Direct Product adverts
Essentially, the more followers you have, the more money you stand a chance to make. This is the rule that guides making money on Facebook and most other social media platforms. Businesses and digital marketers may reach out to you to advertise on their behalf on your platform. Basically, all you have to do is post the product and the business will pay you.
6. Create videos with in-stream ads
Videos with in-stream ads are one of the ways to make money on Facebook without being paid by the platform itself. Creators with large audiences can include instream ads of products from other businesses, advertising it to their views. Videos generally get more views and engagements than stand-alone content which viewers are more likely to skip.
However, you can also get paid by Facebook for your videos if they reach the eligibility requirements. Basically, it must be over a minute long and you need at least 10,000 page followers.
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7. Add a paid subscription to your page
If you offer enough value to your followers, you can add a paid subscription to generate consistent monthly revenue. Brands and creators with a large following can monetise their page and reward fans with coupons, shopping or betting tips, discounts, educational materials and more.
8. Earn money directly from organic performance
Facebook introduced the reel content monetisation feature that places emphasis on organic videos. This is in a bid to push back against users that simply share other people’s videos and monetise them. With this feature, creators can unlock monetary rewards of up to $4,000 a month by completing several challenges. One of the most popular is to generate a certain number of views on the Facebook reel.
9. Run paid online events
Facebook events allow you to run live events, encouraging your followers to join from the comfort of their homes. This is a perfect way to directly reach your audiences and make money by either selling tickets, merchandise or other creative ways during the event.
10. Sell your personal products
Lastly, you can always sell your personal products to your followers on Facebook. Having built a large following with dedicated followers, you can create merchandise, online courses and more depending on your niche. Facebook stores allow you to list these products as eCommerce stores where people can visit and purchase them.
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