Remember, Facebook has about 2.9 billion monthly active users. Whereas Instagram has 130 crores, TikTok has 100 crores and Twitter has 396 million. That is, the number of users of Facebook is incredibly high compared to all other platforms
Facebook users follow several methods to earn money. They include things like affiliate marketing on Facebook, advertising on Messenger and selling products on marketplaces.
However, it has become quite difficult to earn money on Facebook as a whole. The average reach of an organic post on a Page today is typically about 5 percent of total followers. In 2018 that was 7 percent. and those who pay-to-play through advertising and sponsored content; With time their reach further decreased.
But the good news is that Facebook is creating some new and exciting ways to make money using its platform. Although they are mainly for entrepreneurs and all pages that have a large number of followers on Facebook.
If you have a page with a good number of followers and want to earn some extra money from it or get more customers for an existing business, here are 6 ways for you. Through which you can earn from Facebook. It will also discuss the requirements you will have to comply with.
Facebook Monetization
Check if your Facebook page is eligible for monetization or not.
The content that you post on your Facebook page must be posted in accordance with the requirements of the platform. Which is generally divided into 3 categories.
First, Facebook’s Community Standards. These are the basic rules of the platform at once. For example, no obscene or prohibited content may be posted.
Second, Partner Monetization Policy. These rules apply to your Facebook page as a whole. Also for how you create and share any content. Also for how you make and receive payments online.
Finally there is the content monetization policy. These are specifically content related rules. That applies to every piece of content you post. For example, not uploading any violent or unsafe content.
Visit your Facebook Creator Studio to verify your monetization eligibility. Click on the Monetization tab there. Select to view your monetization eligibility for a page. Apart from this, you will also be given other monetization information about the page.
Once you qualify for content monetization on Facebook. Then it’s important to maintain that qualification to keep your income regular.
For this, regularly review the platform’s community standards, keep the domain clean with high-quality content, and ensure the right to post content. If for any reason your page becomes invalid. Facebook will then notify you via the Monetization tab in your Creator Studio. They will also tell you why you are no longer eligible.
You can choose 6 ways to earn money on Facebook
In-stream add
In-video ads or in-stream ads are very effective in capturing the attention of the audience. When a user is watching a Facebook video. Then if an ad comes in the video; Then the ad has the highest chance of reaching the audience. This is because he is interested in watching the rest of the original video, so he continues to watch that video. So it is more effective than a standalone ad in the feed. Because users are more likely to skip individual ads in the feed.
How to-
In the case of in-stream advertising, you need to present the video in the form of a story. In-stream ads are very effective in capturing the attention of viewers who are already interested in the video.
However, in addition to meeting Facebook’s conditions, videos must be longer than one minute. Also, to run in-stream ads, your page must have at least 10,000 followers.
Added paid subscription to the page
It is possible to increase the monthly income by creating paid or paid subscriptions. In this way, followers can enjoy various benefits including special or exclusive content, discounts by subscribing to the page through payment.
A brand called Vegan Baker uses such paid subscriptions. They have created a separate Facebook group for their brand followers. Where followers have to pay around $5 per month to get their exclusive content and various discounts.
Apart from this, Facebook’s ‘Star’ feature allows followers to buy a pack of stars. Which they can send as tips to their favorite creators for extra income.
How to-
This subscription facility is currently only available on Facebook’s invitation-only feature. Users can unlock fan subscriptions when they have 10,000 followers or more than 250 return viewers or 50,000 post engagements or 180,000 watch minutes. Once you get the invite feature, you can decide what benefits subscribers will get from it.
Collaboration with different brands
Create content with relevant people to increase the reach of your page and diversify the content. There are many manufacturers, companies, brands to reach new audiences and increase brand awareness; Who wants to work with someone who has a good following. In this case, you can collaborate or work together with them in exchange for money. Apart from this, it will also help you increase your own follower count.
How to-
Before you can start tagging business partners in your posts, you must first request access to them. Once that’s done, you can view the various collaborations there through the Page’s Brand Collaborations Manager.
Earn money directly from followers
Facebook recently announced that it will place more emphasis on organic video content created specifically for its platform. So that users do not share only TikTok posts on Facebook.
Content creators and influencers on Facebook can earn cash prizes of up to $4,000 a month by completing a series of ‘challenges’ such as generating a certain number of views on a relay.
How to-
The challenge feature is currently available by invitation only. However, in this case, Facebook is currently targeting those whose number of followers is close to million or more The first challenge must be completed within 30 days of receiving the invitation. Otherwise the feature will expire.
Paid events online
You can host paid events on your Facebook page. Facebook’s Events feature lets you schedule, organize, and run events with your Page.
Jasper’s Market hosts and advertises several events through their Facebook business page. From there fans can view a list of events and purchase event access directly from the brand’s page. The event is held online on Facebook.
How to-
Turn on the Paid Online Events feature on your Facebook page. Click the Events tab to create a new event Select the ‘Paid’ option there. Then fill in the required information about your event, pricing and if there are any co-hosts.
However, in order to create paid or paid events, your Facebook account and Page must first pass their monetization eligibility criteria.
Drive followers to your online store
With Facebook’s social commerce feature, you can drive customers directly from your Facebook page to your online store. This is a great way for brands that already have a small business presence on Facebook. Which can encourage scrolling users to buy the product by showing ads.
How to:
Add your product catalog to your Facebook page’s catalog manager. Then when you post a photo or video, link it to the relevant product. You can also link a product during a livestream.
Finally, diversify your income. If you want, you can start an e-commerce business on Facebook, sell various services, create digital products and more. And you can use a large number of Facebook followers as a tool to get success in this.
Remember, Facebook has about 2.9 billion monthly active users. Whereas Instagram has 130 crores, TikTok has 100 crores and Twitter has 396 million. That is, the number of users of Facebook is incredibly high compared to all other platforms. So the method of earning money from this platform for this large number of users is difficult but not impossible.