Facebook is the largest social media network in the world. Numerous small and medium scale businesses use Facebook services and features in some form. The amount of reach and access Facebook users can have is limited only by their creativity. The platform also happens to be a sound way of generating income in a range of interesting, legitimate, and sustainable ways. Here is a look at some of them.
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Influencer marketing
Brands strive to build a large following on Facebook. It is a numbers game. Firms almost invariably turn to influencers for help with this. Influencers are people who have created niches for themselves. These are individuals who have managed to built trust, and a sizable follower base. Influencers spread the brands’ messages in ways that the brands themselves never could. Brands pay influencers to promote specific products or product ranges in social media posts. Charlene Adair is a Facebook influencer. She works with family and lifestyle brands like Genexa. Another Facebook influencer is David Forteau. He works with fashion brands like NOZO Toronto. Here is a step-by-step explanation of how you can start earning as an influencer:
- Identify the niche you would like to work in.
- Start posting relevant content. Pick your audience and groups.
- Build a large and loyal following with regular engagement.
- Run paid ads or sponsored content.
Joining an influencer network can be a great way to find brands to work with. These networks connect brands with influencers in matching niches. Some influencer networks are Linqia, IZEA, ValuedVoice, The Motherhood, and AspireIQ.
Affiliate programs
Influencers most commonly earn from creating and posting sponsored content for the brands they collaborate with. Influencers can also join affiliate programs and post affiliate links. An affiliate program is an agreement in which a business pays an influencer some commission for sending traffic their way. The agreement can be based on traffic (page hits) or actual conversions (sales). Examples of companies which offer affiliate programs are Shopify, ClickMeter, and Superb Themes.
Influencer Marketing Hub is a leading marketing resource for Influencers, Agencies, and Platforms. According to the hub, influencers can earn from $25 per post (nano influencers with 1,000–10,000 followers) to as much as $25,000 per post (mega influencers with 1,000,000+ followers).
Ads for local businesses
Another way to earn on Facebook is to work as an ad manager. This is a person who creates and executes a Facebook ad strategy. The goal is to attract new customers, generate leads, and drive traffic to local businesses. Some categories of local businesses that hire ad managers include marketers of apps, appliances, baby goods, clothing, and food/beverages. Facebook ad managers use their social media skills and expertise to add value to their customers. The clients are generally small businesses. Each of them may pay a small amount of $1,000 to $2,000 per month for the service. To start earning as an ad manager you can do the following:
- Become very proficient with using the Facebook Ads Manager.
- Craft original and effective advertising visuals.
- Find local businesses that can benefit from Facebook ads and want to be your clients.
- Optimize to get the highest return on your work and your client’s ad budget.
The work of an ad manager contributes directly to clients’ revenues. If you do well, your clients will have the capacity to pay you more. Satisfied clients will also spread the word.
Videos
Monetize videos by using Facebook Creators Studio. This is a social media content management tool within Facebook. It helps creators and publishers manage their content (videos), track performance, and connect meaningfully with their audiences. Businesses pay Facebook to advertise their products and services for them. Facebook inserts their ads in your videos. 55% of the income from such ads goes to the video creator.
Protecting creator copyright is among Facebook’s top priorities. Facebook does not allow monetization of shared videos or videos repurposed from other sources. You must create original content. It also must be aligned with your audience and their essence. To begin:
- Find or create a community of people who share a common interest.
- Create engaging videos and share them on the relevant Facebook page/group.
- Monetize your Facebook videos with ads.
When Facebook places ads in videos, the owner of the video gets paid $5 (for US audiences) or more per 1,000 ad impressions. Your page must follow Facebook’s monetization standards and content quality guidelines. If you have a large fanbase with a high engagement score, you can collaborate directly with brands to get extra money based on your performance.
Social media management
This is a skill in high demand. Businesses, celebrities, entrepreneurs, and others who need online traction hire Social Media Managers (SMMs) to handle their online accounts. These experts create social media images, craft posts, curate content, respond to comments, and even schedule online events. SMMs can work from anywhere in the world. It is not uncommon for an SMM to send money online to pay an excellent SMM located in Delhi, or Manila, or elsewhere.
The best way to get started in social media management is to take a specialized course. Learning apps like Coursera offer a range of social media management courses such as “Introduction to Social Media Strategy”. Showcase your abilities as an SMM on your social media accounts. Apply for SMM positions. As an SMM it is important to:
- Understand the clients.
- Learn how to create a posting schedule.
- Build your portfolio.
- Grow your client base.
SMMs can work for a firm and earn a salary. According to PayScale the average annual salary of an SMM is $49,000. You can also work freelance and charge an hourly, monthly, or per-project rate.