A Step by Step Guide to Make Money on Facebook

May 17, 2024
make money on facebook

Quick Summary

  • Facebook’s algorithm determines what content appears in user’s feed based on various signals like post behaviour and engagement.
  • There are many ways to make money on FB such as selling items in the marketplace etc.
  • 15,000 engagements, 180,000 minutes views, or 30,000 1-minute views on videos are required to start monetizing your content.

Table of Contents

Unlike what you might think, Facebook is not just a social media platform anymore, and Facebook’s net worth shows that. There are 2 billion monthly active users, with around 1.37 billion active users daily. With such huge traffic, you can imagine this platform’s potential to make money on facebook.

Today, many businesses and people are using this platform to earn money. However, the challenge of standing out remains a problem, especially now, that it only shows a selected number of posts in a person’s feed. It is highly probable that your post only reaches 2% of your followers or even less.

Steps Followed By Facebook Algorithm

Every time you open your Facebook feed, a Facebook algorithm follows these 4 steps to decide what to show and what not to:

Step 1: Inventory

Examining all the recent statuses shared by the person’s friends and the pages they follow.

Step 2: Signals

There is a huge range of signals that Facebook’s algorithm considers, like who made the post, post behaviour, average time spent on content, tagging, comments, and post engagements.

Step 3: Predictions

All the signals from step 2, then attempt to guess if users will share, read, comment on the post or simply ignore it.

Step 4: Score

The algorithm then generates a relevance score for each post, and based on these productions and signals, Facebook decides what to show in your feed.

After Facebook is done assembling a fee for you, it only displays the posts that have the highest relevancy score. Now that you know how Facebook assembles posts for your feed, let’s discuss how to make money on Facebook.

Below, we will answer the basic questions that most people and businesses who see the potential but don’t know How To Earn From Facebook face.

Selling Items in The Facebook Marketplace

The first thing you can do to make money on Facebook is to sell items/products using the platform. If you open Facebook, you will see several products being sold there, ranging from household products to vehicles and electronics.

There are many inspiring success stories that reflect the success of Facebook Marketplace. For example – Jennifer Marie Garza, a well-known Austin-based blogger, continuously uses Facebook to promote her website low-carb-inspirations and sell her recipes and cookbooks. Her page has more than 600,000 followers, reflecting her success in the marketplace.

The good thing is that you can also build an empire using Facebook Marketplace. All you need is an understanding of your product, Facebook Marketplace, and your customers.

Tip: Remember that you will have to get into negotiations for your products with customers, so be prepared and do find out the minimum cost at which you can sell the product. 

Also, Read: How to Sell Products Online and Start an Online Store?

7 Steps To Set Up Shop On Facebook

  1. Go to create your shop page – In case you already have a Shopify, BigCommerce, or any other platform for selling your projects, you can simply sync your products from there to Facebook. For this, click on Sync a partner platform on the right side of your screen and follow the steps.
  2. Choose the checkout methods.
  3. Connect Facebook Business Page If you wish to sell using the Facebook Business page, you need to choose the page you already own or create one. Once you are done with it, click next.
  4. Select the business manager account or create one. When done, click next.
  5. Select the catalogue you wish to choose and hit Next. Remember, when you are choosing between the catalogue, you check all the eligibility requirements for shops. Good thing is that you can change the catalogue later.
  6. Check all the details you entered, read and agree to the seller agreements and click Finish setup.
  7. After setting up the shop, you have to manage your catalogue, create a collection, and customise the look and feel of your shop. Once you have done all of this, all you need to do is publish your shop.

Running a Facebook Group (Niche-Specific)

Facebook groups are the perfect means of driving revenue through Facebook. However, running a Facebook group solely to sell products is not a very effective idea. You can use these Facebook groups to help spread awareness about your products, encouraging customers to buy them.

Along with brand awareness, these Facebook groups can also act as an offshoot to other activities like eBook selling, online course subscriptions, etc. Meet Facebook monetization eligibility to get Facebook page monetization.

Creating a Facebook group is easy, but running it regularly can be challenging. You must be very sure and aware of the content you post in the group. Having good content in your group is essential to growing it.

The more amazing content you post, the more group members you will gain, and as a result, your group will have more potential to generate revenue or Facebook income per day through it.

These groups are essential to raising awareness about your products and learning how to earn money from Facebook. So, if you want to make money on Facebook or meta revenue, this is one of the things that you should consider doing.

A Suggested Facebook Sales Funnel

Every great marketing expert will tell you that slowly creating a successful Facebook sales funnel is an effective way to make money from Facebook or drive more sales through Facebook.

Whenever you ask a professional about defining ways of Making Money With Facebook, you will always hear about Facebook sales funnels. Neil Patel elaborates on the seven-step funnel that anyone selling on Facebook can use to earn money. These seven steps are:

  1. Create a variety of quality content.
  2. Create a “lookalike audience”.
  3. Promote your high-quality content.
  4. A lookalike audience will become a fan of your Facebook page.
  5. Use Facebook Pixel & Remarket.
  6. Continue remarketing.
  7. Maximise Conversion.

Use this proven trick to create an efficient Facebook sales funnel. You can land more conversions if you follow these steps effectively. Hence, if you wish to make money on Facebook, you need to understand the entire concept of the Facebook Sales Funnel.

Influencer Marketing on Facebook

Influencer marketing is one of brands’ most effective marketing strategies to sell more products. Since every influencer has a huge number of followers, promote your products through them.

Every Facebook Influencer you see today has worked hard to be in the position & authority they are in. Every influencer has a defined partnership model. Using their following, you can spread your brand message and increase sales for your product.

The catch here is to find the influencers in your niche. Along with that, you should have a clear idea of how your brand message will be conveyed. Having the right strategy and vision will definitely increase the overall sales of your business.

In short, it is a must to have a Facebook page for your business, but while creating it, taking advantage of the influencer’s reach to grow your page following is a smart way to proceed on platforms like Facebook. This is one aspect where we have explained how businesses with products and services can make money on Facebook.

Leverage The Power of Facebook

In conclusion, we would like to point out that the above-mentioned points are crucial to building a generous revenue stream from Facebook revenue for your business. Irrespective of what you are selling – products, courses, subscriptions, etc.—Facebook is a perfect platform for reaching more potential customers.

Is your knowledge of Facebook sufficient? Do you enjoy helping your peers solve subject-related problems? You can earn money answering questions for students worldwide by becoming a Subject Matter Expert. You can work anywhere, anytime, according to your schedule.

Get Paid to Help Students Across the World - Earn With Chegg

Frequently Asked Questions

Can I earn money from Facebook?

Yes, Facebook is indeed one of the most advanced platforms that can be used to make money. Be it a product, service, course, subscription, etc., you can sell everything on Facebook. There are many ways you can make money, as explained above.

How many views do you need to get paid on Facebook?

If your page has reached 15,000 engagements, 180,000 minutes views, or 30,000 1-minute views on 3-minute+ videos in the last 60 days, you can start monetizing your content.

How much does Facebook pay for 1000 views?

On average, Facebook pays approximately $8.75 per 1000 views. However, this number keeps on changing and fluctuating. It is best that you check the terms and conditions laid down by Facebook to understand their payment model before you begin your journey of making money on Facebook.

How many followers do you need on Facebook to make money?

The minimum number of followers you need on Facebook to make money is 10,000. Any number above this is good. The more followers, the more monetization opportunities start presenting themselves.

Does FB pay for reels?

Yes, FB pay for reels. The amount is a few dollars per 1000 views you get on monetized content.

Does Facebook pay for likes?

No, Facebook does not pay for likes, but yes, having a good number of likes can turn into money on Facebook.

To read more related articles, click here.

Got a question on this topic?

Related Articles

youtube channel ideas
50+ Best YouTube Channel Ideas: Ultimate Guide
June 11, 2024
cloud kitchen business
How to Start a Cloud Kitchen Business: A Step-by-Step Guide
January 22, 2024
youtube channel name ideas
YouTube Channel Name Ideas and Tips to Unleash Your Creativity
June 11, 2024
instagram username ideas
Stand out With these Unique Instagram Username Ideas
January 19, 2024