How To Make Money on Facebook:

Although Facebook may not retain its dominance as a leading social media platform, it still boasts a staggering number of monthly active users with over 2.9 billion, far surpassing the user count of Instagram at 1.3 billion, TikTok at one billion, and Twitter at 396 million.

In the past, Facebook users have explored various methods to earn revenue, from affiliate marketing to advertising through Messenger, to selling items on Facebook Marketplace. However, making money on Facebook is not without difficulties. The average organic post reach is only about 5% of a page's followers, a decrease from the 7% reach in 2018. Additionally, those who opt for paid advertising and sponsored content are experiencing a decline in their reach over time.

The bright side is that Facebook is launching new and innovative methods to generate income, primarily targeting entrepreneurs and content creators with a following on Facebook. If you are seeking to earn some additional income or find more clients for your business, below are six ways to monetize your Facebook audience in 2022, along with the necessary guidelines that you must comply with.

Verifying Your Facebook Monetization Eligibility :

Before exploring the opportunities to monetize your Facebook content, it is crucial to ensure that you are eligible to do so. To be eligible, your Facebook page and the content you post must comply with Facebook's eligibility requirements, which are divided into three categories:

1.Facebook Community Standards: These are the fundamental rules of the platform, such as avoiding graphic or harmful content.

2.Partner Monetization Policies: These rules pertain to your Facebook page as a whole, as well as the content you create, how you share your content, and how you receive and make online payments.

3.Content Monetization Policies: These are rules that apply to each piece of content you post, such as avoiding violent or obscene content.

To verify your eligibility, navigate to the Monetization tab in the Facebook section of your Creator Studio. Select the pages for which you want to see your monetization eligibility, and you will also receive other relevant monetization information about the page.

Maintaining Your Facebook Monetization Eligibility:

Once you have been deemed eligible to monetize your Facebook content, it is essential to maintain that eligibility to ensure a steady stream of income. Regularly review the Facebook Community Standards, maintain a professional and high-quality content presence, and make sure you have the proper rights to post your content. If, for any reason, your page becomes ineligible, Facebook will notify you through the Monetization tab in your Creator Studio, along with the reason for the ineligibility.

6 Ways to Earn Money on Facebook:

1.Generating Revenue with In-stream Video Ads:

In-stream video ads are a highly effective way for creators and brands with a significant following to engage their captive audience. When a user is watching a video on Facebook, they are more likely to watch the entire ad in order to continue watching the original content, unlike standalone ads in their feed, which are more likely to be skipped.

Example of In-stream Ads:

LIFEWTR, a bottled water brand, aimed to increase brand recognition and create a positive creative image around its product. The company used short in-stream ads that ran in the middle of feed videos as well as properties like Facebook Watch, showcasing its community art projects through visually compelling stories. The campaign resulted in a two-fold increase in brand recognition and a 1.9 times higher lift in ad recall.

Why it Succeeded: LIFEWTR utilized in-stream ads to captivate its audience and communicate a compelling story.

Getting Started: Consider your objectives for your videos and the narratives you can create for your brand. If you plan to run mid-roll ads, try incorporating one to two-second natural pauses in your videos where in-stream ads can fit in.

In addition to meeting Facebook's eligibility requirements, videos must be longer than one minute, and influencers must have a minimum of 10,000 page followers to run in-stream ads. These guidelines apply to brands that opt to pay for in-stream advertising.

2.Why it worked: The Vegan Baker effectively leveraged its loyal following by providing exclusive content and discounts in exchange for a monthly subscription fee. The additional revenue from tips also provides an incentive for continued engagement with fans.

Get started: Set up a subscription model that works for your brand and consider what kind of exclusive content and discounts you can offer. Make sure you meet Facebook’s eligibility requirements, including adhering to Partner Monetization Policies and having an active following. You can manage subscriptions from the Monetization tab in your Creator Studio.

To monetize your Facebook following, consider setting up a paid subscription for your page. This option is ideal for creators and brands with a large, engaged audience and allows you to generate recurring monthly revenue from your most loyal fans. In exchange for a monthly fee, subscribers receive exclusive content and discounts. Additionally, the "stars" feature allows users to send tips for content they particularly enjoy.

Success Story: The Vegan Baker created a separate Facebook Group for its supporters and charged a $4.99 monthly fee for access to exclusive content and discounts. The stars feature also allowed the brand to see which types of content were the most popular with its followers and boost engagement.

To get started: Access to fan subscriptions is currently available by invitation only. You must have 10,000 followers, more than 250 returning viewers, and either 50,000 post engagements or 180,000 watch minutes. Once you've received your invitation, you can select the benefits for subscribers, create a promotional video, and film a welcome video for new subscribers.

3.Partnering with Brands:

By joining forces with a relevant and complementary brand, you can expand your reach and diversify your content offerings. There are numerous brands that look to work with influencers, creators, and businesses to reach new audiences and enhance brand recognition, and this can be a fantastic way to grow your followers and drive engagement.

An example of brand collaboration in action is the partnership between StyleNow Feed and Jasper's Boutique. Through this paid collaboration, both brands were able to create content that aligns with the interests of their respective audiences. Users were able to engage with each piece of content and learn more about both brands by clicking on it.

Why it Succeeded: The mutual alignment of the two brands, with overlapping but distinct target audiences, allowed them to tap into a new group of followers who already had a strong affinity for the partner brand.

Getting Started: To access brand collaboration opportunities and insights, you must first request access through the Brand Collabs Manager.

Ideal for: This monetization strategy is ideal for Pages that have a committed and engaged following and create content that is not deemed too risky by brands.

4.Receive Direct Payment from Your Fans:

Facebook has recently shifted its focus towards organic video content made specifically for the platform, as a response to users simply sharing TikTok posts. Influencers and creators can earn up to $4,000 per month by completing a series of sequential challenges, such as reaching a certain number of views on a Facebook Reel.

Example of Organic Content Rewards:

Paula Garcia has a significant following on the platform and generates income by creating exclusive Reels for Facebook. She earns based on the number of views, likes, and comments she receives. Paula also employs a combination of other monetization strategies mentioned here, such as securing sponsorships for her Reels and posting them organically on Facebook.

Why it Succeeded: Paula Garcia's substantial following made it a natural choice for her to take advantage of Facebook's new challenges program and earn income based on the number of views she generates.

Getting Started: Currently, access to the challenges feature is limited to invitation only, and it appears that Facebook is targeting influencers with large followings in the hundreds of thousands or millions. Once the invitation is accepted, the initial challenge must be completed within 30 days or the feature will become unavailable.

5.Host Paid Online Events:

Interact with your followers through a live event that they can experience from the convenience of their own home. Facebook's paid events feature enables you to schedule, organize, and run events through your page, making it ideal for creators and businesses transitioning in-person events to the virtual world.

Example of Paid Events:

Jasper's Market frequently promotes and hosts events through its Facebook Business page. Fans can view a list of upcoming events and purchase access directly from the brand's page. Seeing the level of interest and attendance creates excitement around the event, and regular reminders ensure attendees don't miss a beat.

Why it Succeeded: Hosting virtual events allows Jasper's Market to reach new audiences who are interested in various types of events, and it also stimulates engagement among followers who may not be located in the same area.

Getting Started: To begin, activate the paid online events feature on your page and click on the Events tab to create a new event. Select the "paid" option and provide the necessary information about your event, such as the cost and a co-host (if applicable).

Please note that before you can create paid events, your Facebook account and page must meet Facebook's monetization eligibility requirements.

6.Attract customers to your online store by utilizing Facebook's social commerce features. By linking your Facebook page to your Shopify store, you can take advantage of shoppable ads and compelling calls-to-action to capture shoppers' attention mid-scroll. Maximize the impact of your successful shoppable posts by converting them into paid advertisements, thereby reaching a wider audience and achieving your desired goals.

For instance, clothing brand QUEENSHOP increased its sales by leveraging Facebook's Live Shopping function. The brand reached its customers who were online at the time and directed them to its website through an eye-catching product CTA. The use of Live videos led to a higher return on ad spend, with a 1.7x increase and a 3.3% rise in items added to carts.

The Success Behind QUEENSHOP's Strategy: By targeting fans who were already active and primed to make a purchase, QUEENSHOP was able to streamline the buying process and bring customers directly to the right product page, making it easier for them to complete their purchase right away.

Getting Started: To launch a similar strategy, start by uploading your product catalog to Facebook's Catalog Manager. Then, connect your products to your posts by featuring them in images or videos. During livestreams, simply click on "Feature" next to the product or link you want to highlight after you've started your video.

Conclusion:

Final Thoughts: Maximize Your Earnings Through Diversification

Starting an online store, providing services, or producing digital products and merchandise can all benefit from utilizing Facebook's massive user base as a marketing channel. With the platform's recently developed suite of tools designed for entrepreneurs and businesses, it has become easier to reach and engage with both new and existing audiences.

However, it is crucial to diversify your revenue streams and not rely solely on one feature or platform. This way, if one source of traffic and income decreases, you will have other options to turn to. This is especially important in today's environment, as the organic reach of major social media sites like Facebook is declining and consumers are becoming increasingly wary of paid advertising.