This week I’m sharing an article by my friend Andrew Kraemer from Wallet Squirrel. One area I don’t write about here on Minafi is ways to make money. I’m hilariously bad at it. It’s clear that the way to build wealth involves earning, saving, and investing. If you’re looking for another way to increase the earning side, this article shares some new tactics that I hadn’t previously thought of!
Facebook is the largest social network on the planet. While this feels like a generic statement, take a moment to visualize 2.4 billion people on the plant spending anywhere from 5 minutes to the average 145 minutes on social media. Facebook is an $826 Billion empire, but it’s also an opportunity for anyone to leverage their audience and make money. Let’s look at how to make money on Facebook and 14 ways people are doing it.
How To Make Money on Facebook in Innovative Ways
No reason to bury the lead. Here are the more unique ways on how to make money on Facebook. As we go down this list, we’ll start with the most interesting money-making ideas and end with the more obvious.
1. Create & Sell Facebook Messenger Chatbots
As businesses use Facebook more and more to engage with their audiences, they’re finding direct messaging to be the most personable. However, unless you’re a large company, most businesses lack the staffing to respond timely. This pain point has resulted in the rise of Facebook Messenger Chatbots.
Suppose you’ve yet to encounter a chatbot or unfamiliar with the concept. Chatbots use Facebook’s direct messenger platform to provide automated responses to a customer’s questions, allow direct purchases, and more. Most questions are 90% of the same inquiries, so why not automate the response? This chatbot technology used to be for multi-million dollar companies. Yet as the technology has advanced and becomes more user-friendly, it’s now available to anyone to build without knowing how to code.
Companies like ManyChat or Falcon let you set up chatbots in less than 30 minutes. It’s something easy to do, but many businesses don’t have the know-how. This problem creates an opportunity to pay big money for someone to build chatbots for them. Consider using a service like ManyChat or Falcon with their pricing structure of around $110/mo and then charging your client $200/mo and pocket the difference?
2. Find Popular Social Media Memes and Turn Them Into Swag
Suppose you’re someone who regularly scrolls through Facebook, finding the funniest daily memes. Consider using your expertise to identify the best memes/jokes/news and creating a graphic to sell on mugs, shirts, art, and more.
Websites like Teespring, Society 6, and even Merch by Amazon allow you to easily create fun graphics and add them to shirts, mugs, and more! Some sites have all the design tools integrated; others ask you to upload an image. All you have to do is create a design and direct people to your products. These companies will display what your designs appear like on different products, handle payments, handle shipping, and send you monthly profits. On a $15 shirt, you can make around $7. After a while, these add up while these services handle everything for you.
3. Create & Host Events on Facebook Events Tool
Bloggers, Influencers, and more regularly use Teachable, Udemy, and more to sell online courses and host events for their audiences. Instead of those platforms costing you to play middle-man, let Facebook Events host instead. With Facebook, you can create an event for your audience, send them regular updates, take payments and even host the event through Facebook.
Facebook manages the entire process essentially for free (minus their transaction fees). Yet, you control the whole process. So if you have any skill you want to teach or course to share with your friends, it would help if you considered monetizing it through Facebook’s Event Hosting Tools.
4. Find A New Job on Facebook
Getting a new job feels obvious, but Facebook has expanded its job portal extensively over the last couple of years. Facebook is hoping to compete with Craigslist and Indeed on job postings connected to each company’s Facebook Business Accounts. While this won’t necessarily be a side-hustle to make extra money on Facebook, a new job can make you more money. Check out Facebook’s Jobs Page to see the type of opportunities available on their job board.
5. Join a Sweepstakes Facebook Group and Enter in Bulk
There are thousands of sweepstakes starting daily. While these are randomized for the winners, it’s super easy to play.
All groups of people subscribe to Facebook Groups centered around sweepstakes and enter new games daily. When all you have to submit is an email address, there isn’t much to lose. You can either create a new free Gmail account or use an app like Unroll. me to unsubscribe from any mailing lists you’re inevitably joining.
Sweepstakes may not sound like a guaranteed way to make money, but it’s fun. The more competitions you enter, the more often you are to win. Most sweepstakes offer between $250 – $500 per game. The benefit of a sweepstakes Facebook Group is that you’ll be aware every time a new sweepstake is published.
Part-Time Jobs Centered Around Facebook
Facebook is like a mini digital world, and if you’re good at navigating the social network, you can create tremendous job opportunities for yourself. Many companies/startups/influencers feel they need to be active on Facebook 24/7 and often pay people to help them out in different ways.
6. Market Yourself As A Social Media Manager
If you’re already intimately familiar with Facebook and used to regularly posting fun content, why not consider becoming a Social Media Manager for a company, blogger, or influencer? Social Media Managers seem like an easy gig. Still, it’s a highly sought-after position as many businesses understand they need to regularly engage with their social media audiences but lack the staff and experience to create quality content.
This position typically involves creating exciting content by posts 2-3 times a day, engaging with comments, and regularly creating a positive brand buzz.
While there is a high demand for social media managers, the salary is a bit all over the board. Glassdoor maintains the average Social Media Manager salary of around $38,000 to $72,000 annually. However, even this differs based on how a company values social media. We’ve seen part-time social media managers make as little as $5 to add a couple of social media posts to $150,000 annually for companies that actively use social media to promote their brand. Considering the high rise and adoption of social media, we see this position continually increasing in need and value.
7. How To Make Money on Facebook as a Group Moderator
These aren’t people hired by Facebook to moderate content against the company guidelines, but those hired to manage Facebook Groups.
There is massive money in Facebook Groups. These are private groups that focus on anything from car maintenance to cat lovers. Facebook Groups become a forum for people to collaborate and share like-minded information.
Currently, there are 1.8 billion Facebook Groups with audiences ranging from 2 users to millions. There is a Facebook Group called “HAIRSTYLES” that boasts 6.8 million members alone. What makes these groups successful is removing unrelated/dumb comments and maintaining regular positive engagement using great Facebook Group Moderators. Facebook Group Moderators keep the conversation going and maintains the integrity of the groups.
Often the moderators are the administrators who started the group, but sometimes, they are part-time help. These positions are paid by the group’s administers, typically from the revenue generated from sponsored posts. The pay is generally around $5/hr to $20/hr and widely depends on the size and income of the Facebook Group. These positions aren’t advertised but often offered to members highly active in each Facebook Group.
8. Manage Facebook Ads
Facebook is the world’s largest social media network and not-so-secretly the world’s largest advertising network. Users regularly submit personal information and show Facebook precisely their interests. This information is pure gold for advertising companies looking to target their ideal audience.
While multi-million dollar companies use this regularly, Facebook also allows small businesses to tap their deep user information pool. Yet, many small businesses don’t have an understanding of how the Facebook Advertising ecosystem works. They need experts to run campaigns for them and want to see how their campaign is working. Running advertising campaigns is where the growing career of Facebook Ad Managers comes in.
Facebook makes it easy for anyone to become a Facebook Ad Manager. Plus, there are tons of courses on how to run ads successfully. These courses are available to anyone to learn. Once you pick up the basics, you can start tons of ad campaigns for small businesses. The salary for this position ranges from $50,000 to $80,000, according to salary.com. As your own boss, you can make even more.
9. Facebook Content Creator
Let’s not skip past the many content creators/influencers who make loads of money on Facebook. These are people who build large followings on the social network and regularly produce content for their audiences. These are people like Logan Paul (12,800,000 page likes) and Eh Bee (10,300,000 page likes), who rake in millions of dollars through their engaging videos and posts.
Anyone can become a content creator as it requires zero experience. Here are the ways content creators make money on Facebook.
- Videos – Facebook allows you to run ads on videos you upload to Facebook, and those ads will generate a nice amount of income. What’s nice about Facebook is that the ads aren’t usually till the middle of the post, unlike the beginning ads of YouTube. According to these ways to make money, you can make around $7 for every 1,000 views.
- Sponsored Posts – These usually involve companies partnering with influencers to showcase a particular product with the influencer. Think about influencers pictured with Bose Headphones and the caption “I love these new Bose Headphones.” While it may be true, those influencers are getting paid for the endorsement. You can make around $5 for every 1,000 followers you have for a sponsored post.
- Fan Subscriptions – Following in the footsteps of Patreon, Facebook has launched Fan Subscriptions where audience members can pay a monthly subscription to access exclusive content by their favorite influencers. Yes, Facebook will take 30%, but recurring monthly revenue ads up!
How To Make Money on Facebook Marketplace
The Facebook Marketplace has grown dramatically in recent years. It’s best comparable to Craigslist, where users can buy and sell their stuff. Of course, the platform has grown large enough for companies to sell their products here, but it’s still primarily for individual users.
10. Sell Old Items on the Facebook Marketplace
If you’ve ever sold something on eBay or Craigslist, this is the same. To sell something on the Facebook Marketplace, all you need is some lovely photos of the item, a detailed description, and an enticing price. Most of the items sold on the Facebook Marketplace range from free to $200. You’re also responsible meet with the prospective customer or handle shipping, so be sure to include your time in the price you set.
11. Re-Sell Items on the Facebook Marketplace You Bought Elsewhere for Cheaper
Re-selling has always been big on Amazon but continues to bleed into Craigslist, eBay, and now the Facebook Marketplace. People find an item on sale at Walmart (really any place), purchase it, and immediately list it online for a higher price to pocket the difference.
Typically highly in-demand items do great for re-selling, such as the new PlayStation or products usually out-of-stock in most places. Otherwise, if you find a terrific deal on an in-demand product, consider re-selling as a way to make a little extra money. If you want to make this a full-time job, you’ll have to establish a highly efficient process to make it worth your while.
Send Traffic To Your Website/Sales Page
There are a few profitable ways to make money on Facebook, but the most common way people make money from Facebook is by sending those 2.4 billion people from Facebook to their website or sales page. If you don’t have a website, it’s easy to start a blog and immediately monetize it.
12. Share Links in Facebook Groups To Your Site/Services
If you’ve ever been a part of a Facebook Group, you’ve inevitably seen several posts that point to links to someone’s site or services. These are common strategies. Sometimes they work; sometimes, the post is irrelevant, a group moderator will immediately reject the post when you want to post links in a Facebook Group.
Moderators will sometimes accept posts if you’ve already established yourself as a helpful member of the group and your post/link is relevant to the topic of the group. Please know that it has been increasingly challenging to get links in Facebook Groups, so you need to be compelling. If successful, you can add links to your website where users can purchase goods or increase your website ad revenue.
Alternatively – You can use affiliate links to send Facebook Group traffic to a company’s affiliate page, where you can earn a commission if any users make a purchase. Here is a list of the best affiliate programs.
13. Share Links on your Facebook Business & Personal Profile Page To Your Site/Services
It’s infinitely easier to post links to your website or services on your own Facebook Business Page and Personal Profile page. While you won’t likely have as many followers as a Facebook Group, you will have more control of the content and message. Anyone who clicks on your links can travel to your website, where you can monetize their engagement.
Alternatively – You can use affiliate links to send traffic from your Facebook Business Page or Personal Profile Page to a company’s affiliate page. You’ll earn a commission if anyone makes a purchase. If you want to know what that looks like, here are 50 Amazon Affiliate Website Examples that utilize social media to bring people to their money-making sites.
14. Purchase Facebook Ads
We’ve mentioned Facebook Ads earlier, but rather than working for someone else. Consider learning Facebook Ads to help send traffic to your website or company affiliate program. List articles like 37 Fun Facts About Money do exceptionally well. Many companies do this to make more money when people come to their website than their Facebook ads cost.
Consider a Facebook Ad Campaign costs a company $1,000 a month, but the people that click on those ads generate $2,000 a month in revenue. That Facebook Ad Campaign has a profit of $1,000 every month!
You can make a significant amount of money utilizing the highly customizable Facebook Ad platform. These can be for your products, services, or even a simple landing page for affiliate programs to earn an affiliate commission.
This article originally appeared on Your Money Geek and has been republished with permission.