The popularity of social media is growing every year, with Facebook being by far the most popular one today. With over 2.5 billion active monthly users (223 million in the U.S.) Facebook is a great place not only to share important moments from your life – but also make some money.
There are countless ways to make an extra buck with Facebook. It is an excellent platform for small businesses, bigger brands, as well as for any regular person trying to find ways to boost their income.
In this post, I’ll share some of the most popular ways to make money on Facebook – as well as tips on how to increase your chances of earning money. Find one that can work for you and get started right away.
Can I Earn Money With Facebook?
I get asked this question a lot – so let’s get right to it. Yes, you can make money with Facebook – and I don’t just mean if you’re a pro at Facebook marketing or are incredibly tech-savvy.
The truth is, anyone can earn money from Facebook – but I will be honest with you. You will need to invest some of your time. As with all ways to make money, it most likely won’t happen overnight (though it might if you decide to sell something that everybody wants!).
The good news is that there are many different ways to make extra cash on Facebook, from selling your old furniture on Facebook Marketplace to advertising products or services. Whether you are a millennial looking to make some extra cash, influencer, or a small business owner, you can be sure that you’ll find something that suits your schedule and skill set.
11 Ways to Make Money on Facebook
Here are 11 of the best ways to make money with Facebook:
1. Selling on Facebook
Selling stuff on Facebook is one of my favorite ways to make money. I like it because it’s easy – anyone can do it, as long as they have something they want to sell.
Can You Make Money by Selling on Facebook?
Many things can be sold on Facebook – and most people sell used items, like clothes, books, and even cars! Selling your stuff online is a fantastic way to make money – and the Facebook marketplace (among many other online platforms) is an excellent place to get started.
Another pretty cool thing to sell is your own handmade items. If you have a hobby that includes creating something other people might use, you can turn it into a great side hustle.
If you’re getting excited about selling stuff on Facebook, you should know there are a few groups of products that you won’t be able to sell. You’re unlikely to want to sell any of these – but it’s worth knowing!
- Tobacco products
- Real money gambling products
- Illicit drugs
- Some healthcare products
Tips for Selling on Facebook
If you do decide to sell something on Facebook, there are a few steps you can take to increase your chances of closing sales:
- Post the update on your wall: You can post the items you are selling directly on your wall and add a photo. Keep in mind that this will only reach a very small audience.
- Post the update in sell & buy groups: Find local groups for selling and buying and post it there. This will drastically increase your audience.
- Facebook Marketplace: This is a place where everyone has access. Even though it is not specialized and your item might get lost amongst others, the audience is huge, it doesn’t cost you anything, and it is proven to work.
2. Earn Money from Page Views/Likes
If you’re just starting out with Facebook as a source of income, you’re probably wondering whether you can make money from page likes. While Facebook page likes are your guaranteed audience (whatever you post on the page, it will reach a subset of them without paying for ads) – you will not get paid for them.
How Do You Make Money from Facebook Page Likes?
That said, having those likes ensures you have a number of followers to advertise to. This also gives you credibility and can help new customers to trust you quicker.
With a larger list of followers, you can even become a social media influencer, and other brands might give you a commission for advertising their products, or directing new customers to their page.
How Many Views Do You Need to Get Paid on Facebook?
With Facebook, you will not get paid directly for the views, but you can still use that to monetize your traffic. Remember that the more views you get, the more sales you can actually close.
Facebook is also a great place to find leads. You can find clients for your online consultancy business, e-commerce shop, or even brick and mortar stores. The more viewers you attract, the larger your audience will become, which in turn leads to more potential paying customers. It is important to maintain engagement, so you build a strong relationship with your followers to be successful using this strategy – so remember to post useful content regularly.
3. Refer a Friend Bonus
There are quite a few companies that offer cash bonuses for a referral, with one of them being Rakuten. You can share a special link on your Facebook page, and if any of your friends sign up through the link you shared, you will receive a cash bonus.
When searching for a company that offers a refer-a-friend bonus, make sure that it is something your friends might actually need (nobody likes to be bombarded with spam emails, right?).
There are many competitions, contests, and giveaways on Facebook. They are usually absolutely free, and all you have to do is like a page, share a post, or comment (which takes seconds).
Even though you might not always be able to win cash, you still have a great chance of winning prizes like kitchen gadgets or other electronics (and that can save you money). Some competitions even offer Amazon gift cards to the lucky winner – and we all know that’s a pretty awesome gift since you can find pretty much anything on Amazon.
5. Facebook Ads
If you have a business page on Facebook to sell products and services, Facebook ads can increase your sales drastically. Since you will have to pay for them, you have to be smart with Facebook ads to make sure the investment pays off. When running Facebook ads, there are three main things you need to figure out:
- Objective or the content of the advert
- Target audience: you can choose a specific audience that you wish to show your ad to
- Budget: the total amount of money you want to invest, with the duration of the ad being one of the factors to consider here.
And if you don’t have a business page of your own, what you could do is become a Facebook marketing pro for local businesses. If this sounds like something you might want to do, check out this Facebook Side Hustle Course Review, created by my good friend Bobby Hoyt and his high school friend Mike Yanda.
This course covers how to find businesses that need local customers, create Facebook ads for them, and manage their ad accounts.
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With crowdfunding gaining more and more popularity, Facebook created their own Fundraising feature. You might not gain personal profit, but you can raise money for a personal cause – which is pretty awesome.
Let’s say you want to study in an expensive school you can’t afford on your own. You can create a Fundraiser on Facebook and get a share of the cost from other Facebook members. It might be a long shot, but worth trying.
7. Find a Job on Facebook
Facebook is also a great place to land a new job. While that’s not exactly a way to make money – your new job will most likely pay (fingers crossed!).
Search for jobs using the Facebook Jobs button or scroll through many groups that offer jobs and work experience with certain companies.
8. Get Involved in Groups
Social media is about building a brand and growing a loyal audience. This is not a direct way to make money, but as you grow your audience, selling becomes much easier.
One way to grow the audience is to help other people in groups centered around your area of expertise. Join as many groups as you can, and give advice to many. Make sure your advice is helpful and legit; otherwise, people will stay away from your brand or take it as a scam.
9. Live Videos
Another great way to build your brand is through the live video feature on Facebook.
Since its launch, it has become very popular and offers a great way to keep your audience engaged. It can not only help you build trust with your audience, but you can also double as advertisement space more so if you sell physical products. Create fun videos of you or other people using the product.
10. Invest in Facebook
Facebook is a publicly-traded company, and as such, you can invest in it by buying Facebook stock. You can buy a single share or partial shares, depending on where you buy. The company is doing quite well, so you should see an excellent return on your investment over the long run.
Be aware that investing in the stock market is always unpredictable. You can also buy an index fund to diversify your investment.
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11. Look for Security Flaws
Like many other large websites, Facebook takes its security seriously.
The Facebook Bug Bounty program offers rewards for everyone who finds coding flaws that need fixing. Of course, you will have to be the first one to notice and register it. If coding and website testing is something you are familiar with, this can indeed be a great way to earn extra cash.
How Does Instagram Make Money?
Now, you may wonder where I’m going with this – but people often ask me how Instagram makes money, and I thought this was the perfect place to answer that.
Instagram – like its parent company Facebook – makes most of its money through selling advertising. According to Merkle’s quarterly Digital Marketing report, advertising spend on Instagram has continued to grow year over year.
How Can You Make Money on Instagram?
As you know, Instagram isn’t just a great place to show nice pictures of everything you are up to and grow your following. It’s also a great platform to grow your brand and make some money. There are a few things you can do to make money with Instagram in 2021, like:
- Drive traffic to your blog, website, or e-commerce
- Generate leads
- Advertise your products and services
- Build and grow your brand
- Go viral with the message you’re sending
- Get sponsorships
You Can Make Money on Facebook
So, as you can see, Facebook can help you in many ways to make extra cash (as long as you’re ready to invest some of your time in learning how it’s done).
I hope that this post will give you some ideas on how you can grow your income on Facebook right away.