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Your Facebook page is not just a powerful tool for reaching audience members and creating exposure for your brand. It is also a powerful money-making tool on its own.
The more followers you have on your Facebook page, the more opportunities you have to increase your revenue. You just need to develop the right monetization strategy.
Here are a few of the best ways to monetize your Facebook page:
Sell Sponsored Posts
You are already sharing links on your Facebook page, so why not get paid to do it?
If you have a nice sized following, other companies will pay you to promote their products or services. Bloggers may even pay you to share their posts.
Just make sure that any posts you share offer some value to your audience. Otherwise, you risk alienating your followers and losing what you have worked so hard to build.
Also, be careful about the ratio of sponsored posts that you share. Your audience may not be able to ID every sponsored post, but they will know if the majority of your content is paid for, and they will question your authenticity.
Share Affiliate Links
Affiliate links are like sponsored posts, but you get a percentage of the sale instead of a flat payment for the advertisement.
You choose the products you want to promote, and if your audience buys through the link you share, you get a small percentage of the sale. Affiliate marketing is a great way to build a passive income because you can get paid again and again without having to do more work.
Again, pick quality products that actually serve a need for your audience, and don’t overload your page with affiliate links. Savvy followers will ID these links immediately and may stop following you if you share too many.
Create Landing Pages
Why sell other people’s products on your Facebook page when you can sell your own?
You can create custom landing pages for Facebook that go straight to your own products or services. You can then promote these landing pages through Facebook ads, or you can share the link to your followers.
The landing pages are not separate from your Facebook page. They are located in tabs on your page.
Consider creating landing pages for special sales, specific products or services you want to promote, a special offer for your followers, and so on.
Add a Facebook Shop
You can sell products straight from your Facebook page with a shop.
You can create special iFrame pages that nest in your Facebook page. These pages can function just like an ecommerce store, and followers can buy products straight from the page.
If you don’t create products to sell, you can still add a Facebook shop for affiliate products. Display the items like a gallery on your own ecommerce shop, but have them lead to the seller when users click on the items. They will then pay the seller, and you will get a cut.
Host Contests and Giveaways
Contests and giveaways provide many benefits, including helping you to generate more exposure for your brand and opening up a revenue stream.
You can offer your own products and services as the prizes in your contests, which will help you generate more of your own sales. Your users will share links to your page or the contest to enter, and you will get much more exposure and traffic, which will lead to new sales.
You can also charge other companies to offer their products or services as the prizes in your contests. They will be willing to pay to get the exposure that your large audience offers. Plus, you’ll still get the exposure, as well, since users will share links to enter.
Explore all the opportunities for exposure from your contests and giveaways, such as asking people to share the contest on their social networks, to follow you on all your social networks, to sign up for your email list, and more. Each action would be another entry, which improves their chances to win.
Writing reviews is a bit like sharing sponsored posts, but you are in control of the content.
You can charge companies for the review and then write about your real opinion of the product or service. You will be providing value for your audience while also making some extra money.
In addition to the payment for the review, you can also get the product or service for free as well as some discount codes for your customers.
As with all sponsorship opportunities, make sure you only review products or services that are actually useful to your audience.
Monetizing your Facebook page is a delicate balancing act. But if you can get it right, you can profit off that huge following you have worked so hard to build.