Facebook for a Business – 6: Making money with Facebook

All right, let’s talk about some strategies for making money with Facebook.

In general, Facebook isn’t a place for hard selling. After all, it’s a social network and people meet each other to socialize.

That makes social network sites an ideal place to HELP people out by giving them the best advice you have and mention some products (using your (affiliate) links) that can help them solve their problems along the way.

That is very soft selling.

For the rest, Facebook -or any other social network for that matter- is just the beginning of your marketing funnel.

Still, it is very well possible to expand a long-term online business, as well as making easy money using Facebook today.

So here are a few of the most lucrative ways of making money with Facebook.

  1. Advertising

    Since Facebook Advertising is a lot cheaper than Google Adwords, this is a great tool to make money. Plus, with over a few hundred million active users, you can nail your target market and convey your message to the exact right people.

    Most website owners use Facebook advertising for cross-promotion with their own sites, where they sell their own products or services.

    But Facebook advertising is also often used to promote some kind of affiliate product or even CPA offers.

    You have to be aware of market saturation. After a couple of weeks, your target market has seen your ad and sales will decrease. That’s the right time to come up with something else.

    If you want to discover how to create highly successful ads on Facebook, then just sign up for my newsletter and you’ll receive a free 6-part video course.

  2. Selling

    As I said earlier, Facebook isn’t a place for hard selling. People come here to socialize.

    Some people claim huge sales from posting commercial messages on their wall.
    I doubt it. If I discover a salesy message from someone on my wall, I ‘UN’-friend this person immediately. Because I don’t want to see such messages there that I didn’t asked for.

    The only EXCEPTION is when someone delivers a great solution to the problem at hand that is discussed on the Walls or in Groups. ONLY then I click such a link, because
    a) there’s a solution for a problem that I experience and
    b) this solution comes from a known, well respected source.
    This example illustrates exactly how you should soft-sell on Facebook.

    Marketing-wise Facebook is more a place to establish your name and products and that’s exactly what you try to do on your business pages.
    That’s where you present your company and the solutions that it provides. So, visitors can expect a bit more salesy messages there. If they’re interested in the topic of your business, they even may want to buy from you directly, but don’t count on it.

    Business pages therefore are a great place to pre-sell by sharing useful information. From there you want your prospects to subscribe to your autoresponder funnel.

    Another place you may pre-sell your products is in the Application department using various apps.
    Search the app directory (link deleted; Facebook killed its App Directory and wants users to search for apps). Start with ‘products’ to get an idea of what’s possible.

    A fast way of making money with Facebook is creating apps as we will see now…

  3. Application Development

    There are many popular applications that can serve as an example. The trick here is to develop one yourself. If you’re in the weight loss niche for instance, you can create an app to help people exercise or give them a daily recipe or whatever.

    There are still very few people solely dedicated to developing applications. It will therefore not be a problem to find potential customers.

    Programming has become a very important aspect of company lead generation lately and most applications reach several thousands.

    It will cost you a bit to have an app developed, but if it’s a successful one, it can be sticky and they can go viral very quickly. Appdata and similar sites may be a very interesting resource here.

  4. Offline business
    This one is profitable, fast and simple: create an online Facebook presence for local businesses.
    You should realize this: local business people have so much going on in their own business that they don’t have time to research how the Internet works, let alone Facebook. They just want to have their Facebook page created. That’s what web design companies do and they charge a lot of money for it.

    Smart, because you can buy custom Facebook pages on many places for under fifty dollars, like www.sacriliciousmarketing.com/shop-templates/

    But there it ends. If you’re smart, you offer the same service and go one (or even two steps) step further. Using all your Facebook knowledge, you generate leads for them!

    If local business people see results from their Facebook presence, they will keep on paying you month after month, simply because YOU give them the opportunity to make more and more money. As long as they earn more than they pay you, they will keep on paying you a monthly retainer.
    Huge opportunity!

With these four money making generators in mind, you can be well on your way into making more than what you expected out of a simple social networking site that was once just a pastime.

So, what’s your system of making money on Facebook?
Post your comments below!
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9 thoughts on “Facebook for a Business – 6: Making money with Facebook

  1. Jimmy says:

    I loved the part on Facebook applications, because these are very essential these days – millions of people use such applications and having applications that are related to the company’s niche can be very helpful indeed!

    Yeah, I’ve personally removed people who spam my wall with their professional updates – but Facebook pages are excellent for soft selling purposes!
    http://www.wordplaycontent.com

  2. paul winter says:

    I never thought about using Facebook to advertise my products I don’t know why. I make sense you can target the right people for your products, I’m going to signed up to your newsletter to watch the six videos about this and I’ll post how I get on with them.
    Thanks to the great info

  3. Adrian Sai says:

    Regarding point #1 and #2, you really have to be extremely creative to have something that can really be of interest to facebook users, knowing that traffic from this social media channel have very low conversion rate.

    Tip #3 is the best way to really sell through Facebook, and it’s also a great way to drive relevant and highly targeted traffic to your site (through quizzes, games and/or polls).

  4. Elyse Coleman says:

    I do want to point out that there can be a thin line between hard selling and soft selling. This was a very difficult concept for me to grasp when I first got into marketing.

    I agree with Adrian that tip three would probably guarantee more success for most people than one or two, if you have the money to invest in apps. For those who don’t, step four may be the better alternative. There’s little expense to creating Facebook pages for local businesses, other than time, and could provide some indispensable connections to you later.

  5. Steve says:

    I have spent 4 long years trying to learn all about the internet business. I am very concerned about the amount of hype out there. Fast talking people who are very difficult to understand, particularly in parts of the USA. However giving back is the key once you get on top. My advice is be ethical like your customers and remember “The buck stops with you” make sure customers can contact you. Talk slowly.

    Steve
    http://internetbusinesstuition.com

  6. Ruby says:

    I’ve heard a lot of hype surrounding Facebook and business profits, but couldn’t ever really figure out how people made any money using Facebook at all. The series was informative, it brought up some very interesting points. Thanks 🙂

    Ruby

  7. Shawn says:

    I’ve always been a little nervous about promoting my affiliate products to my facebook friends. I’ve just never been comfortable trying to silicate people I know into buying something from me. But sales has a lot to do with trust and a lot of those people do trust me. It’s worth a shot. Maybe I can finally make some money online. I liked the article a lot, especially tip 4. It kind of goes hand in hand with what I’m trying to do now. Get a high ranking site for a related keyword for local businesses and sell them that site. Then they can do with it what ever they want. Anyway, liked the article, I will be subscribing to your news letter.

  8. Thabo says:

    I build a website but still could not drive any traffic to it, however I decided to put the topic up on Facebook to share with friends and all of a sudden people I even did not have as my friends started liking what I was talking about and I thought facebook was the right place to communicate any meaasage or topic. Great stuff…

  9. Brian says:

    Facebook is a great way to make money, I should know because I have been doing it for a year now. This article is spot on as I recall some of my experiences right out of the gate. It can be hit or miss and you cannot over do it, but in general there are many opportunities for making money. I saw Facebook getting big and wanted to jump on before people started beating me to it. Since I started there has been a significant increase in competition, so I just had to change up a couple of things here and there. Overall, my finances have increased ever since I started using Facebook to market.

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