MAKE MONEY FROM HOME
Monday, 2017-09-25, 11:40 AM
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                  Make Money on Facebook

If you want to make money through social media, then Facebook is definitely the place to start. It is the largest social network — and third most popular website — in the world. With billions of users, you’ll have no trouble finding an audience that will be interested in what you have to promote.

There are plenty of ways to start making money on the world’s largest social media network.

Facebook is definitely the best and the most effective online marketing today. No matter what someone would say, Facebook is probably the cheapest marketing tool you can find online.

There are two main ways which allows you to make money through Facebook:

  • Indirect Way – This is probably the most effective and mostly appropriate marketing technique for Facebook.
  • Direct Way – You can actually make money on Facebook by developing an application or a game with your own advertisements.

Make Money Indirectly from Facebook

As I have said, this is the most effective marketing technique you can apply through Facebook. This way you can actually consider a Facebook as a landing page, or a quality traffic source for all your marketing needs.

Indirect money-making techniques:

  1. Facebook Pages – Probably the most effective marketing technique. You can actually use your page to improve your leads and sales, or to promote your product page through it. These pages are widely used by all Facebook users.
  2. Facebook Profile – You can use your own personal (or business) profile to promote your own products and services with your own friends.

These both marketing techniques work differently. Pages are usually visible by anyone, and anyone can join without any approvals.

Profiles are different, and everything you update to your profile is usually presented only to your own friends, and these friends need to be re-approved. This technique works on a similar principle as Twitter.

Facebook pages and profiles are great to promote products and services you are affiliated to. That may help you increase your sales and leads, and by that make some money indirectly through Facebook.

Of course, you can promote your own website too. So those who visit your website might become your loyal visitors and a potential customers.

Make Money Directly on Facebook

Yes, you can make money directly on Facebook too. This is done in two main direct ways of making-money process through this popular social network. Note this way is reserved for someone who knows how to develop Facebook apps and games.

Direct money-making techniques:


  • Facebook Games – Most games, served directly through Facebook are based on micro-payment module. That allows developers to sell in-game stuff to the loyal game players. Allowing them to make money directly on Facebook. Additionally, developers can place an ads and make money that way.
  • Facebook Applications – Other apps are monetized usually from ads. Developers can insert own ad code inside any developed application on Facebook. Allowing them to make money directly from clicks.

Facebook has a great and well-documented developer database. In the other hand, there are many Facebook developers who knows how to do "the job” if you pay them some money.

Sell Things on the Marketplace

If you want to sell items on a small scale (i.e. you don’t have a “business” per se), then you could always turn to the Facebook Marketplace. The Marketplace allows anyone to set up listings for items they’re trying to sell, not unlike Craigslist or a traditional classifieds section of a newspaper.

As you might expect from Facebook, the Marketplace offers excellent segmentation tools so that people looking for whatever you’re selling will know how to find it.

Go ahead and sell anything on the Marketplace: clothes, old CDs, furniture, cars. You may have a veritable treasure trove of profitable junk on your hands.

Virtual Goods And The Gift Shop

Facebook currently generates a large amount of revenue from the Facebook Gift shop. For those less familiar with the gift shop, it’s a product which enables users to send virtual gifts to one another. At an average cost of $1 per gift, Facebook gifts have become an extremely lucrative business, generating upwards of $100 million last year. Facebook has been slowly opening up the gift shop to third-party developers in order to increase the variety of products sold through the shop.

In August of last year, Facebook began opening the gift shop to non-profits and by September it was opened to a number of other developers. During the ongoing Haiti crisis, Causes has been offering users the opportunity to purchase gifts which directly benefit victims of the tragedy. While there are few public estimates of Facebook’s gift shop revenue, we’d expect Facebook to generate upwards of $150 million from their gift shop this year.

Sell on Facebook Marketplace

Facebook’s often overlooked Marketplace, which functions like a socially connected version of eBay, can also be connected to your business page. If you want to open a small online store, this can be a good option – especially if you want to take advantage of the viral marketing that social networking sites can provide. Users can search Marketplace for all sorts of products, but priority is given first to the users’ friends and mutual friends, who are more trusted than anonymous sellers and buyers. Results are also arranged geographically, giving it far more coverage than eBay or Amazon. In addition, Facebook’s convenient messaging system is far faster than conventional online retailers, and small businesses can use PayPal instead of more expensive credit and debit card processors.

 Recommended Tools

If you want to make money online, you need to get efficient with your time management. The following tools will help you spend less time posting updates and more time on revenue generating tasks.

  • Buffer. Allows you to create a custom schedule for posting updates to your Facebook profile or page. Add posts to your Buffer and they will automatically be assigned to the next open time slot.
  • Post Planner. Allows you to schedule posts to your pages and groups. Also gives you ideas of what to write when you don’t know what to post.
  • HootSuite. Allows you to schedule posts to your profile and page. Also allows you to monitor your newsfeed in one dashboard.
  • Another thing you could use is an analytics tool that brings your Facebook Insights together with your other data. Here are some good ones to try.
  • SumAll. Lets you view your Facebook Insights alongside business data from a variety of sources in a graph so you can see how a spike in Facebook activity affects your business.
  • Cyfe. Prefer dashboards? Cyfe lets you create dashboards with business data from a variety of sources.
  • Social Report. If you’d rather get your Facebook Insights and activity delivered to your inbox.
  • Rival IQ. For those who need to constantly monitor their competitors, Rival IQ lets you see your competitor’s Facebook page description and activity levels. It will also notify you when any significant changes are made to the page.

Sell Products on Facebook’s Marketplace

When looking for an online marketplace to sell stuff, people immediately think of eBay and Craigslist, but you can also sell a variety of items, from books and baby products to clothing and even furniture, on Facebook’s Marketplace.

It’s like a virtual garage sale so try it out today.

Conclusion

Facebook makes money a number of ways however advertising is the company’s revenue channel. With self-serve ads becoming a booming business for Facebook and with the growth of Engagement Ads, Facebook could be on track to generate up to $1 billion in revenue this year. While our estimate is aggressive, Facebook has been experiencing continued growth and through further education about the company’s advertising products, we’d expect Facebook to stay on track to almost double previously quoted estimates of last year’s revenue: $550 million.

While many users still wrongly think that Facebook will charge users because they aren’t able to pay for the site, the reality is that advertising is proving to be a very big business for Facebook.

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