3 Ways to Monetize Facebook

“3 Ways to Monetize Facebook”

 

 

With over 600 million active users and still growing, if Facebook were a country, it would be the third largest in the world.

Most people use it for connections with other people, fun and entertainment.  But there are also those who use Facebook as a next-generation marketing tool, which allows them to make money directly from it.

 

 

1. Create a Branded Facebook Page

 

This is the most convenient way to monetize Facebook. A branded Facebook page allows you to use your page to increase your leads and sales, or to promote affiliate products, as well as your own website page through it. These pages are widely used by all Facebook users.

Facebook pages allow you to design “Landing” pages or “Welcome” tabs to welcome first-time visitor to your page, which basically gives you the opportunity for more engagement.

Your Welcome page should focus on direct Call-To-Action requesting that first time visitors “Like” your page. Take a step further and offer opt-in for your new followers, so invite them not to just “Like” your business, but also subscribe to your email list.

Here’s mine as an example:  http://www.facebook.com/realprosperity

 

2. Develop Facebook Applications

 

Another way to make money on Facebook is by developing & selling applications.

Most games on Facebook are based on a micro-payment module, which allows developers to sell in-game goodies to their loyal players, thus make money directly on Facebook. Additionally, you could also place ads and make money that way. Examples include FarmVille or Mafia Wars, both extremely successful applications.

Other applications include anything from quizzes, shopping, virtual gifts etc. that are monetized usually from ads where you can insert your own ad code and make money directly from clicks.

Or…

If you think that your marketing skills outweigh your creative juices then buying Facebook apps and selling them is another way to go.

 

3. Facebook Ads

 

You can use the Facebook Targeting Tool to access the demographics anywhere in the world or narrow your search by age, gender, relationship status, specific keywords and more.

Facebook PPC (Pay-Per-Click) ads appear on the right of the Facebook pages.  Unlike traditional PPC, Facebook ads include thumbnail images, which positively affect the Click-Through Rate (CTR).

Facebook Ads are a great way to connect with a specific niche.  For example, I created a special report for coaches, and my ad only shows up for people who have already “liked” CTI (Coaches Training Institute).

You can set a limit on how much you’re willing to spend on a specific campaign so it’s pretty low risk to give Facebook Ads a try.  I love them!