What is Facebook monetization?
So, what exactly does ‘Monetize Facebook Page’ actually mean!? To put it simply, Facebook monetization is making money from something of value that you provide to your audience. Whether it’s earrings or your online courses or coaching services. If you’re making money from it via Facebook, you can consider it a form of Facebook monetization.
There are various ways you can use Facebook to monetize your products or services. You can monetize your Facebook Page, your Facebook Group or use Facebook ads. In this article, we’re going to focus on how you can monetize your Facebook Page.
Why you should monetize your Facebook Page
Time and time again we hear of companies that grow from nothing to something overnight, but what we often don’t see is all of the hard work and time they’ve put into growing a massive following before launching their product or service.
Launching a product or service without having a readily available audience can be really challenging. The classic approach of “If you build it, they will come” doesn’t work in today’s highly competitive marketplace. People have more options than they’ve ever had before and having a loyal audience who trusts you and believes in what you offer is your golden ticket to success.
Grace Beverly is a great example of a social media influencer who built a highly successful sustainable fitness fashion business off the back of having a large audience. Instead of designing her products before finding the market, she created products that her people actually wanted. When you ask your people what they want in advance, you eliminate the guesswork.
How to grow your Facebook following
If you’re serious about growing your Facebook following and monetizing your Facebook Page, it’s important to note that there isn’t a quick or easy way to grow your Facebook page unless you’re willing to pull out your wallet.
Facebook has increasingly become a pay-to-play network, so if you want to make sure your content lands in front of your target audience, it’s important to note that you will need to invest in some form of Facebook advertising before the sales start rolling in.
You’ll also need to invest time and energy into creating content that your audience finds interesting and valuable. If you want some tips on how to grow your Facebook Page and optimize it for success, read our top tips here.
Facebook monetization guidelines
Facebook isn’t a place you can own, manage or fully control so it’s important to read through and refresh your memory on Facebook’s guidelines to ensure that you’re following the rules before choosing to monetize your products or services on the platform.
Here’s a summary:
- Share authentic content.
- Develop an established presence. (This means your account must be at least 90 days old).
- Comply with Facebook’s community standards.
- Comply with Facebook’s payment terms.
- Comply with Facebook’s page terms.
What Are Facebook’s “Community Standards”?
Facebook community standards fall into 6 categories, all of which must be respected by content creators. Those categories pertain to:
- Violence and criminal behaviour
- Objectionable content
- Integrity and authenticity
- Respect for intellectual property
- Content-related requests
In a nutshell, these standards seek to discourage things such as promoting terrorism or political violence, hate speech, online bullying, copyright infringement and more. If you hope to monetise a Facebook page you will need to comply with them all.
What Are Facebook’s “Payment Terms”?
As you might expect, Facebook’s payment terms are no less labyrinthian. Briefly, they cover:
- Payment credentials
- Extra terms such as shipping costs
You need to have all your ducks in a row as far as payment logistics and compliance with Facebook’s payment terms if you hope to engage in content monetization.
What Are “Page Terms”?
Facebook hasn’t missed the opportunity to present you with an equally impressive list of page terms and unfortunately, they must all be adhered to if you plan to monetize a Facebook page. The following are some of the most important page terms:
- They don’t allow business page names that are purely generic like “The Book Store”.
- The page name has to make grammatical sense.
- They also have a rule against what they call “superfluous” names.
- The name also cannot violate someone’s rights, bring another into disrepute, or be misleading.
If you can comply with all the above Facebook monetization requirements you may be one of the lucky ones who is able to monetize a page or monetize a Facebook group. Just be mindful that Facebook does not mess around when it comes to enforcing these rules, so it pays to be fully prepared with your compliance.
How to check your eligibility for monetization
Unfortunately, not all pages are eligible for monetization on Facebook, so it’s important to follow the following steps to find out if your Page qualifies and to learn more about Facebook monetization eligibility countries.
- Log in to Facebook’s Creator Studio
- Find the box labelled ‘Monetization’
- Click the ‘Check Eligibility’ option
Following these steps will help you to review your current eligibility status and decide whether you can monetize your Facebook Page. You can find more info on this here
Best ways to monetize your Facebook Page
No matter how big or small your page is, there are a number of ways you can monetize your Facebook Page.
Selling online courses and member subscriptions
The global eLearning market was worth an impressive $107 billion in 2015, by 2025, it’s believed to reach a staggering total market value of $325 billion. What’s clear is people are now more likely than ever to invest in themselves and their learning. The global pandemic has added rocket fuel to this. Whether it’s yoga lessons or a unique niche community there’s space for everyone to earn money.
With this in mind, adding an online course or private member community subscription can be a great way to monetize your Facebook following. What’s more, this creates a reoccurring revenue model; unlike selling a product, where a customer just buys once, your audience is spending money every single month on their membership. Platforms like Disciple Media allow you to build a subscription-based private community platform easily without previous experience. This comes with the added benefit of not having to fight Facebook’s algorithms, ensuring that all of your posts and courses are seen by your audience; unlike in Facebook where each post will only be shown to about 10% (or less) of your followers.
Sell products or merchandise
While this doesn’t provide the same recurring revenue stream that comes with courses and membership subscriptions, it does come with many benefits. The biggest benefit is that you can outsource this function almost entirely.
Dropshipping is increasing in popularity. This is a method where the seller uses third parties to produce, pack, and ship the product directly to their customers. Whether you’re selling t-shirts or mugs, you’ll likely be able to find a dropshipper (a company that dropships goods) that can literally cover the entire supply chain. All you have to worry about is marketing the products to your audience. This comes with a super low barrier to entry, with most drop shippers allowing you to only pay when products are sold.
If branded well, physical products can serve as an additional marketing channel for your Facebook page, as the product users and their friends will continually be seeing your branding; making the products somewhat of a billboard for your branding.
Sell digital content
If you have an area of expertise, then there is no reason why you can’t sell digital content to your Facebook followers. eBooks are really popular with people in the fitness and nutrition industry, with many selling workout guides and recipe books, or if you’re into meditation you could even sell guided meditation audios or video content.
Products like this come with a low barrier to entry and easy maintenance, as a result of being an information product. Unlike physical products, you don’t have to worry about parcels getting lost in the post, among other problems of a similar nature. This helps to create a product that you can set and forget, while you market it.
You could sell these digital products, or you could even give them away as freebies (everyone loves a little extra) for those who join your community platform or subscribe to your newsletter. This is a great way to further incentivize people into a subscription-based model, where you can then continually monetize your audience. These again help you to create a communication channel outside of Facebook, ensuring you’re connecting with them directly and your content isn’t limited in reach by Facebook’s algorithms.
Send traffic to affiliate marketing sites
The premise of affiliate marketing is to promote other people’s products, earning a commission if someone buys a product or service as a result of clicking through via your site.
If you’re intending to utilize affiliate marketing, your best bet is to start a blog. This provides your audience with content that is of value but also allows for monetization either within blog posts or alongside them.
Depending on your niche, blog posts don’t need to be long, they just need to be of value to your target audience. Blog Writing Services UK a blog writing subscription service advises that while posts should generally be around 1000 words long or more, can be as short as 500-1000 words if in more visual industries like fashion or food where pictures will make up a significant portion of the article.
What’s more, your blogging could potentially be outsourced while you grow your social media.
Among the many benefits of blogging, one of the biggest compared to social media is the longevity of the content. Blog posts can be useful and relevant for years. This makes it a really good investment for startup companies and established brands and influencers alike.
With social media even if something is re-shared typically after the first 2 days it will lose its impact. Blog posts create evergreen content that is easily found in Google search, providing another way to build your audience, as well as to monetize it.
Sell your services growing a page
If you’ve grown your following to a decent level, why not sell that ability as a service? There are plenty of small businesses that would love to build up their social media presence, but don’t have the knowledge to do so. You have that knowledge, and your own following to prove it.
Steve Bartlett essentially built the media giant Social Chain off the back of himself and some friends having their own large followings, when combined together they were able to create significant influence over very specific communities. They’ve then gone on to sell this experience they have to help big brands grow their audiences. Arguably their model is slightly different, but the fact of the matter is that you know how to grow an audience, and you can help others do the same. Whether you’re a micro-influencer or have a huge following there is no doubt a business with a smaller audience that could use your help.
There are loads of different ways to monetize a Facebook Page, however, what is important is ensuring you’re providing value to your audience, as this is what will keep them engaged, and make them feel like an integral part of your community.
While Facebook and social media provide a good opportunity to build your audience, it’s always worth expanding your presence; whether it’s using a newsletter, a blog, or even a private community platform.
This protects you if there are changes to algorithms that make it harder or more expensive to connect with your audience. This also ensures that you can connect with your audience on a deeper level, providing them with even more value, privacy, and security.