Aside from just using Facebook for reading posts and following the latest gist, Facebook can be a revenue-generating platform if you know your way around it.
Facebook is one of the best places to start an online business, some of which we are going to talk about in this article.
This article will give you an insight into what types of businesses you can run legally on Facebook.
Now let’s quickly explore some of the ways we can make money on Facebook with very little to no capital;
1. Selling of courses
Even though a considerable portion of Facebook users use the platform for fun, there are still some people who rely on Facebook to develop their minds and increase their knowledge.
Facebook avails you the opportunity to create courses (Pre-recorded videos, e-books, etc) and sell them both directly on your Facebook profile and in Facebook Groups. So, if you are very good at a particular skill such as graphic design, web development, accounting and bookkeeping, writing etc., selling courses on Facebook is a very sure avenue for you to generate a residual side income.
2. Mentorship Programs
Aside from selling ebooks and pre-recorded video courses, you can also set up paid workshops and render mentorship programs, especially if you have attained a “veteran status” in your field. There are at least, two main ways you can bill your clients for mentorship services; Fixed Term One-Off, or Subscription-based.
3. Live Workshops and Masterclasses
Similar to what people do with WhatsApp Groups, you can also create a Facebook Private Group that only allows paid individuals in for a master class or workshop on a particular subject. It can be a 1-week paid workshop where you teach the participants some of your skills and share your discoveries for a fee.
You may decide to make it a free workshop at first, then proceed into a paid masterclass, where interested participants are required to make payments before they can join the group.
Facebook has a live streaming feature called Messenger Rooms which allows you to go live and address your audience. In fact, you do not need a Facebook account to use Messenger Rooms. However, Streamyard is a great web-based alternative that does that pretty well. I personally like to use Streamyard because it supports sharing of live streams simultaneously on multiple channels (i.e Facebook Profile, Pages, and Groups, LinkedIn, Youtube Live e.t.c). If you want only paid members to have access to the live broadcast, all you need to do is share your broadcast from Streamyard to the private Facebook Group that you have created for only paid participants.
4. Facebook Ad Specialist
This is one of the most profitable businesses to venture into on Facebook, owing to its “ongoing” nature. Being a Facebook Ad Specialist means that you would be responsible for building and monitoring marketing campaigns on the Facebook Advertising platform. You can work as a freelancer for multiple clients, or for a single brand such as a digital marketing agency.
Requirements of A Facebook Ad Specialist
- You must be able to read, analyze and compare ad campaign statistics.
- You should be able to create Facebook ads that are compliant with Facebook’s Ad Policy.
- You should have a good knowledge of Keyword Research.
- You must know how to target the relevant audience for any business or niche.
As a good Facebook Ad Specialist, you will be expected to generate “great returns with minimal investments”. This is where your knowledge of “Ad Optimization” is required —You should be able to consistently maintain a good conversion rate.
If you can master the art of Facebook Ads, many companies and businesses will definitely want to hire you to help them run and manage their advertising campaigns. However, they won’t know you exist if you don’t pitch yourself or submit proposals. You may also (subtly) ask your existing clients if they have any referrals for you.
5. Managing Facebook Pages for Businesses
Small businesses and companies do hire people to manage their Facebook business page. You would be required to upload content (that will be created by the company), share social media posts, reply to messages, and perform other social media administration tasks like moderating the comment section.
Getting clients can be a little bit of a challenge but you can get started by contacting businesses through their Facebook page. You can even message people that are yet to own a Facebook business page. Inform them of the benefits and convince them to create one. If they create one, then you will surely be the Manager in charge.
6. Instant Articles and Facebook’s Audience Network
We all know Google AdSense, but the Facebook Audience Network is an alternative method of generating extra income from your blog or website.
This feature was introduced as part of Facebook’s strategy to make people stay longer on the Facebook app, but remember, to make money from this program, you will need a website or a blog.
To get started, install the Facebook Instant Articles plugin on your blog and then link to your Facebook page. Generally, any website that joins this program will open within the Facebook app.
The good thing about Facebook Instant Articles is that users would not be directed to a browser, but rather, it opens on Facebook in a snap — just like a news feed.
Depending on your Facebook follower base, this a great method of connecting to your Facebook Audience who might be reluctant to launch a new browser tab or open external links.
To monetize and place ads on your Facebook Instant Pages, you will make use of Facebook’s Audience Network.
How Facebook’s Audience Network Works
Facebook’s Audience Network is an Ad program similar to Google Adsense. It embeds Ads on your Instant Articles and you will get paid a commission which is determined by the cost per click, number of clicks, number of impressions and the Estimated Cost Per Mille (a.k.a Thousand ad impressions.)
An impression is registered everytime someone views an ad on your Instant Articles post while a Click is registered when, you guess it, someone clicks on the ad.
Ad clicks would basically earn you more money, but it is an unethical practice to manipulate the system or self-click on ads appearing on your Instant Articles — Doing that is the easiest way to get banished from the program.
Depending on all the factors above, Facebook’s Audience Network can pay you up to $25 per 1,000 impressions.
You also earn Pay Per Click (PPC) commissions when your readers clicks on an ad.
7. Flipping Facebook Groups
Although frowned upon by Facebook, one of the easiest ways you can earn money on Facebook is through flipping Facebook Groups.
What flipping basically means in this context is that you create a new Facebook group, build and nurture it until you have a tangible number of members, then you “exit” the Facebook page. Meaning you sell to interested buyers who share the same vision with the purpose of the group by transferring the ownership to them.
8. Flipping Facebook Pages.
New businesses emerge every day, and one of the most important marketing strategies is having a social media audience. Luckily for you, not all these businesses are willing to start their Facebook Page’s journey from scratch. Some are willing to beat time by buying an established page and then rebranding the Page to suite their mission. This is where you come in. If you come accross a business struggling to garner followers and engagement on their Facebook pages, you can propose your Page to them (if it aligns with their niche or target audience,) sell, and cash out.
If for some reason you were not able to build Facebook pages, you can still make money from this. You can buy fan pages from other people and then resell them to make a profit. Either way, you will have some money streaming into your bank account.
Before buying a Facebook page, you should make your intention known to the seller. Make sure the page is not already connected to a brand or blog before you make a purchase.
The reason why most people buy Facebook pages is to increase their target audience. It also generates great results without having to spend huge money on paid Ads.
9. Rendering Graphic Design Services
I’m a graphic and web designer and I got my first set of clients on Facebook. Facebook is a great place to start if you are a graphic designer.
When I started, I didn’t have a single client. Here’s what I did;
I started working on dummy projects and pretended that they were real. I then published these works on Facebook under the context that they belong to real businesses.
Each time I did this, I recieved some positive remarks and sometimes, a few critism via comments. This single act stimulated engagement and pointed me to my first set of clients. Once you get your first set of clients, the referrals can take over. What this means is that your new clients would gladly tell anyone who cares to listen about your work if they are happy with what you did for them. So, it’s always good to strive to exceed every client’s expectations. It wows them and turn them into your brand’s evangelists.
The beauty of graphic design is that your works can be visibly seen by anyone, this is a great marketing advantage over other professions such as Social Media Marketing, Law, Accounting e.t.c.
A knowledge of mockup design and editing would be of help to you.
Not every business owner can afford the time and expertise to design ad banners for their social media accounts. However, a major problem you might encounter is that majority of your prospects would approach you with a low budget, possibly because of the sheer number of graphic designers on Facebook these days. To counter this problem, I would recommend that you brand your graphic design business properly as your own branding can give a perception of how cheap or pricey you are.
10. Running A Comedy Skit page
Comedy skits are the most consumed mobile entertainment on social media, and that trend is going nowhere soon.
Comedy videos account for the highest watch hours on social media for video content. In fact, social media comedy skits have eclipsed Stand Up Comedy. The Covid-19 pandemic has effectively threw stand up comedy into a deep crisis, and with the advent of Tiktok, Instagram Reels, Vskit, Facebook Stories, etc. Stand Up Comedy may never regain the audience it once enjoyed.
If you can create funny videos, then this is one of many ways to earn money from your Facebook page. Here are ways you can monetize your comedy skit Facebook page:
- Sponsored videos. You will make sponsored videos about other businesses and companies for an agreed fee.
- Selling your own merch under your influence.
- You can make money by helping people generate traffic to their site or landing page by adding their links to your post.
Facebook has done pretty well by providing us a platform that can help us thrive financially, but it is up to you to make the most of it. Which of these top 10 business opportunities do you think would work best for you? Let us know in the comments below. 😉