With its over 3 billion active users, Facebook is no doubt a powerful platform for driving brand awareness and business growth. The massive audience on Facebook opens up diverse opportunities for content creators, influencers and businesses to generate revenue. From the buy and sell marketplace to the various monetization tools on the platform, Facebook offers a wide range of opportunities for users to make money off their content.
This article offers definitive strategies with essential tips on how to make money on Facebook.
Eligibility Requirements for Making Money on Facebook
Facebook has strict eligibility requirements for businesses looking to sell on Facebook and content creators seeking to earn through features such as subscriptions and Stars.
The platform has Community Guidelines that prohibit scams, bullying and graphic or violent content. Any user who breaks those rules could lose their monetization eligibility. Those with Business pages can check their eligibility status under the monetization tab in the Meta Business Suite. Users with creator profile can find out their status under the monetization tab in their professional dashboards.
Apart from the above requirements, you should also do the following;
- Set your profile to professional mode
- Have an established Facebook presence for at least 30 days
- Post authentic, original content
For those who wish to sell through the Facebook Marketplace, you will need to be at least 18 years old. You must also observe Facebook’s terms of service to make money on the platform. Besides, it is important to remember that effective Facebook monetization also requires that you have a wider reach and an active audience. Here’s how to boost Facebook engagement.
Proven Strategies to Make Money on Facebook
Whether you are a content creator looking to build an audience or a business seeking to boost sales, the following are proven strategies to make money on Facebook.
- Offer Paid Subscriptions
This is one of the most effective ways for content creators and influencers to make money on Facebook. You can create a continuous flow of revenue by offering exclusive content to your most loyal followers through subscriptions. The approach can be instrumental in building a dedicated community while also generating income from your audience.
You could also offer your subscribers perks such as limited discounts on products and services. Personalized interactions can also encourage existing subscribers to stay and entice new potential ones to come onboard.
Whenever your subscribers make payment on the web, you will receive the full amount minus taxes and fees. However, you will only get 70% of the revenue when they pay via mobile devices because the service providers usually take a 30% cut from the cost of all in-app purchases.
A good example of how you can make money on Facebook is comedian and actress, Daphnique Springs. She offers her 4.9 million followers exclusive content and other benefits for $9.99 per month.
To get started on paid subscriptions, there are eligibility requirements that you must meet. They include;
- A Professional mode Facebook page
- 10,000 followers or more than 250 return viewers
- 50,000 post engagements or 180,000 watch minutes in the past 60 days
You should also remember that the paid subscriptions feature is currently invite only. That means you can only charge and receive money from the followers that you invite to watch your content on Facebook.
- Brand Collaborations and Partnerships
Curating content through collaborations and partnerships with brands is also an incredible way to make money on Facebook. Brands can pay you to create content that helps them to build brand awareness and reach new audiences.
Partnering with social media influencers requires an initial investment for business owners. However, it can be a great way to drive sales and increase trust in the brand. The paid partnership advertisements offered by Facebook allow you to feature influencers who market your products in ads.
One of the companies that have perfected this strategy is Pet company, Bark, with their BarkBox subscription service. A case study by Facebook established the brand’s Reels-style partnership ads on Facebook and Instagram impacted 13% more subscriptions that conventional ads.
You can reach out to the brands directly or let them contact you. Nonetheless, collaborations and partnerships offer you the chance of receiving compensations from companies for endorsing their products and services. However, there are eligibility requirements that you must fulfil to start making money through this strategy.
Content creators must tag sponsored posts using Facebook’s paid partnerships tool. Click on the handshake icon when posting, add the URL of the brand’s page and publish. It is also advisable that you try reaching out to brands that you already use and trust to ensure authentic and mutually benefiting partnerships.
Businesses should also be keen to begin their influencer marketing journeys by finding relevant creators who align with their brands. Then, prepare clear content guidelines and plan your outreach strategy.
- Open a Facebook Shop
Social commerce is on the upward trend, with almost half of US consumers now making purchases through social media. According to Facebook Marketplace statistics, more than 1.1 billion Facebook users in 70 countries now use Facebook Marketplace, which boasts 51.9% of the online market share for social commerce.
A Facebook Shop allows you to sell products directly through the Facebook page of your brand, with mobile checkout options for buyers. The platform is very straightforward to use and you do not need to meet specific requirements to qualify as a seller. You can easily create a Facebook Shop in the Commerce Manager, a tool that enables you to manage your inventory and sales on the platform.
How to Set Up a Facebook Shop
Here are the steps to setting up a Facebook Shop;
- Select Get Started and Create a shop on the Get Started Page
- If you are already selling products on Shopify or other e-commerce platforms, you can select it to create your shop there. If you do not use any other platforms, go to Next.
- Choose a Checkout method then, click Next.
- Choose your page or create a new one if you want to sell on Facebook business page.
- Select your business portfolio or create a new one then, click Next.
- Choose the catalogue that you want to use for your Facebook Shop and Finish the set up.
Facebook Shop allows you to customize the platform with promotional banners, product collections and product descriptions. Remember, Facebook Shops only display on mobile devices and you should provide in-app checkout.
- Leverage Shop Ads
Apart from opening a Facebook Shop, you should also consider running ads to drive sales by connecting viewers to your platform. You can use Shop ads to direct shoppers to the homepage of your shop, specific product pages or even collection pages that feature multiple products. Select between manual ads or automatic updates that sync with your product catalog.
You will need a Facebook Shop and product catalog to run Shop ads. You will also need to decide where to direct interested viewers and whether to create your ad automatically or manually.
- Use Facebook Content Monetization Tools
Facebook Monetization tools combine video ads, Reel ads and performance bonuses into a single easy-to-use program. The program is tied to beta and works through invite-only. However, businesses can put video ads in creator content without any invitations.
You should try to keep your ads under 15 seconds and offer a skip option for the best results. Remember, Facebook permits ads ranging from about 5 seconds to 10 minutes.
Facebook’s In-stream ads give you the freedom to customize ad placements in your videos. That allows you to make money without significantly disrupting your followers’ viewing experiences. The platform issues payouts for in-stream ads around the 21st day of every month for the revenues generated in the previous month. However, you must have made at least $100 to receive the payouts.
If you are an established content creator who wants to make money on Facebook through advertising, fill out the content monetization interest form to get started. The platform allows brands to create video ads that play in creators’ content without becoming a part of the program.
- Accept Facebook Stars
Facebook Stars enable viewers to support your content through monetary offerings during livestreams, texts and video posts. Meta will pay you $0.01 per Star whenever viewers send you Stars. It translates to about $1 per 100 Stars or $100 for 10,000 Stars. That creates a way for the audience to show appreciation for your content directly. Facebook Stars can also drive excitement and enable you to bond with your community.
You need to first create a Stars goal for your community to reach. Those who meet the goal can receive a thank you message and even shooting star animations. You can also share videos to make money with Facebook Stars. Your followers can buy and send you Stars in the comments section of your livestreams, on-demand videos, photos, reels and texts.
There are requirements that you must meet to make money on Facebook through Stars. They include;
- Be 18 years or older
- Have at least 500 followers
- Have an account that has been active for a minimum of 30 days
- Create a Facebook Page or Group
Facebook pages and groups are the most effective ways to reach and engage large audiences. Once you have established a huge support base on Facebook pages or groups, you can use the influence to do affiliate marketing, sell products or services and drive traffic to your website. Those are all strategic avenues that can enable you to make money on Facebook in the long term.
While it is free to create a Facebook page or group, you may need to spend some money to boost its visibility. Superior Social Boost is a one-stop shop for brands and businesses looking to drive social growth. The platform offers customized packages to help you to grow your reach and engagement organically on Facebook, Instagram, TikTok, X, YouTube and Google Business.
The packages are streamlined to enable creators, brands and businesses to achieve social growth conveniently and, at a fraction of the costs.
The Bottom Line
Some may find the remote money-making opportunities discussed above as more convenient compared to traditional 9 to 5 jobs. Others may also deem it too challenging to attain the minimum requirements to monetize their content on Facebook. Regardless of the perceived difficulty, you can still make money on Facebook with the strategies outlined above. Facebook can be a very profitable platform if you implement the right strategies, know how create good content and stay consistent in your efforts.