There’s no denying that Facebook is a titan in the current climate. Over 2 billion people use it worldwide, with 214 million users in the U.S. alone. It started as a way to connect friends and family. However, as we all know, the focus of Facebook has shifted to include advertisers and other money-making methods. As the platform has grown, so has the potential for you to make money.
Here are 11 easy ways to make money on Facebook.
1. Sell Something You Own
With the decluttering craze sweeping the nation, it is now more common than ever to find your own items you no longer want. While donating these possessions is a noble and worthy cause, you can also sell them and make money on Facebook.
There are several ways you can go about selling your stuff on Facebook for extra cash. Here are the most popular methods.
A) Post Your Item on Facebook Marketplace
Facebook offers the Marketplace, which is similar to Craigslist if you haven’t used it before. The Marketplace is an easy way to market and sell items by category and geographical area. This will reach your largest audience for that fish aquarium or baseball card collection you want to give to a good home.
On Marketplace, you’ll also be able to specify the category, price, and area to sell. It will also give you an optional description and up to 10 photos. Here are some tips to get the best price for your item:
- Give a good description filled with keywords. Try to think of what people who want that item might be searching.
- Take excellent photos. Make sure wherever you photograph the item looks clean and uncluttered. A chair shoved in the corner of the garage along with a lot of other junk will fetch a far lower price than a chair styled in a clean living room.
- Use a lot of images. The Marketplace allows for as many as 10 pictures, so snap away! Make sure to get close-ups of tags with brand names or any flaws or special features.
- Be honest about the condition the item is in. There is no sense in lying about the state of the item. Not only is it unethical, but it’s a waste of your time and other peoples’. Plus, Marketplace now offers seller ratings, so you risk a low rating, barring you from business in the future.
- Look at similar items when deciding a price. Just because the same item is listed for a price doesn’t mean you have to put yours at that same cost. However, if there are 30 copies of a book listed by different accounts at $5, the chance of you making $15 is slim to none.
- Be prepared for deal hunters. You will likely get messages or offers undercutting the listed price. That doesn’t mean you have to accept them, but at some point, you may need to be flexible if you want the item gone.
B) List Your Item on a Local Buy/Sell Group
Similarly, you can list items on local buy and sell groups. These groups are done by regional area or by specific city. Some are even set up for individual neighborhoods. When searching for a group to join, make sure to read the rules and see if you are permitted to list your item or not, as some groups are very strict.
C) Utilize a Specialty Buying Group
For those who wish to sell a higher-dollar item such as an antique or a camera, it may be best to search for a specialty buying group. In most cases, you will need to ship the item to someone after you receive payment. The pro is your item is more likely to sell; the con is it’s easier to get scammed into giving away a high-dollar item for free.
D) Share the Item on Your Personal Page
A quick way to make money on Facebook is to post your item on your page to see if your friends or family are interested in buying it from you. This is not going to reach more than outside of your friends' list, so this may not be the most effective solution.
2. Make Money on Facebook Through Affiliate Marketing
Many service businesses offer refer-a-friend bonuses, usually in the form of cash. This is exactly like when you see apartments with signs saying they’ll give you $200 for each person you refer to live there.
If you have a way to make income this way, spread the news on Facebook. You never know, one of your friends or family members might like to use the same service. This is an indirect way of making money from Facebook, but it’s free!
Many products offer affiliate marketing as well. It doesn’t hurt to poke around on the website of your favorite e-course or e-book to see if there’s an affiliate program offered.
Side Note: According to Federal Trade Commission guidelines, you must disclose you are using an affiliate link every single time you post one. Also, be sure that you're in compliance with all of Facebook's policies and guidelines regarding promotions; this article breaks it down.
Sell Affiliate Items on Your Own Facebook Group or Page
Another indirect way of making money off of Facebook is to capitalize on groups and pages. Creating or moderating groups will give you leverage as to what you can post, which means that you can link to your website or a sales page regularly for revenue. Pages and groups can take some time to build, so figure out a way to boost your visibility and show expertise, while also drawing an audience.
3. Make Money Posting Ads on Facebook
If you have a business, blog, or product, these next tips are for you.
Advertisement is a must in this social media age. Consequently, Facebook shows ads to everyone using the desktop website via the lower right hand of the page, and mobile users see lots of sponsored posts and ads in videos or while scrolling through the feed. Advertisements on Facebook cost a good bit of money, and they can be hit or miss, especially when first starting out. To increase your rate of success, here are some tips:
Wait until your business, blog, or product is established.
Find groups and pages on Facebook that fit your niche and insert yourself where possible.
Spend time creating the content the ads will use, such as:
- Graphics for your business
Have something to offer. What’s the incentive for someone to click or to buy? What will they get?
Wait until you have the money to buy multiple ads, in case the first couple you try don’t perform well. There is a lot of trial and error involved.
Facebook offers a variety of ad types, such as video, carousel, slideshow, single photo, and dynamic. It also lets you customize the target audience with great detail—far more so than any other platform out there.
Spending money to make money works well with Facebook ads if you put in the work. For many, it can be quite lucrative.
5. Make Money Posting Ads on Facebook for Someone Else
Alternatively, if you do not have a product to promote or an advertising budget, consider finding a job posting advertisements for someone who does. Finding this type of work can be challenging. Understandably, businesses want someone who has experience and hard numbers to back up their success. Consider offering a reduced rate until you can prove yourself capable.
Other Interesting Ways to Make Money on Facebook
These methods of making money on Facebook are a bit less conventional, but still a valid way to earn cash. With a little creativity, Facebook can become a money-making outlet for you.
6. Make Money on Facebook by Entering Contests
Entering contests on Facebook could help realize your dream of making money from Facebook. This also goes hand-in-hand with refer-a-friend as many of the contests will have extra entries for you every time a friend signs up. Now, you probably think that you don’t see any contests that give away money or even things you’d want to win.
However, you will see contests with prizes that you may not necessarily want. What do you do then if you win? You turn around and sell those same prizes on Marketplace or in the buy/sell groups.
Related Content: 28-Day Case Study: Can You Make Money Entering Giveaways?
7. Create a Facebook Fundraiser
If you need to know how to make money on Facebook for a charity or cause, Facebook now makes it easier to set up a Fundraiser. Under the same tab as creating a group or an ad, you’ll find “Fundraiser.” It will prompt you to search for a friend that is in need or the non-profit you’re helping.
You’ll select the category, length of fundraiser, goal, and where you’re raising the money. Encourage friends to share it and share it to groups that may be empathetic to your cause to get more traction.
8. Apply for a Job
Facebook now has a searchable job board where employers can post jobs. These vary from full time to short term or contract, but if you need extra cash, it’s a great place to start your search.
This is an indirect way to make money off of Facebook, but if you’re in the market, it can be a great way to narrow down the area you would be working for and be more personal than submitting resume after resume online. Just make sure to clean up your Facebook profile first and use a professional image as your profile picture.
Related Content: Remote Facebook Jobs and Money Making Opportunities
9. Invest in Facebook’s Stock
Another way to make money from Facebook is to invest in Facebook itself. The NASDAQ code is FB. While this isn’t a get-rich-quick plan, it can help diversify your portfolio and earn passive income over the long run.
10. Find Flaws in Facebook
If you’re a computer security expert, you can find flaws for money. Facebook once paid a man $15,000 because he found a serious security flaw! You may be the next one to strike gold in the code.
11. Invest in Facebook’s Cyber Currency
In 2020, Facebook will officially launch Libra, their new cyber currency. Of course, it is hard to tell how successful it will become, but an investment in the product could pay off (or fall flat).
As you can see, there are plenty of ways to learn how to make money on Facebook. The popularity of the social platform means it will continue to grow and evolve, paving the way for new opportunities to create income.