How to make money on Facebook?

While Facebook may not have the advantage it once had as a social media darling, it still has an incredibly high number of monthly active users: more than 2.9 billion, compared to Instagram's 1.3 billion and TikTok’s 396 million. Twitter.

In the past, Facebook users have tried everything from affiliate marketing to running ads through Messenger and selling items on Facebook Marketplace to make money. But making money on Facebook is not without its challenges: the average reach of an organic post is around 5% of a page's fans (up from 7% in 2018) and those who pay to play through ads and content. Those sponsored are seeing their reach decrease. Over time.

The good news? Facebook has launched new and interesting ways to make money, aimed mainly at entrepreneurs and creators with followers on Facebook. Whether you're looking to make extra money or find more customers for your current business, here are six ways you can monetize your Facebook audience in 2023, plus the requirements you'll need to meet to do so.

Before you begin: Check your eligibility for Facebook monetization

There are several ways to make money from your Facebook content, but you must first be eligible to do so. This means that you’re Facebook Page and the content you post on it must meet the platform's eligibility requirements, which fall into three categories:

· Facebook Community Standards: These are the fundamental rules of the platform, such as no graphic or unsafe content

· Partner Monetization Policies: These rules are for your Facebook Page as a whole, as well as the content you create, how you share your content, and how you receive and make payments online.

· Content monetization policies: These are content-level rules that apply to every piece of content you post, such as not containing violent or profane content.

To check your eligibility, go to the Creator Studio Facebook section and click the Monetization tab. Select which pages you want to see their monetization eligibility for; you will also receive other monetization information about the page.

Once you are eligible to monetize your Facebook content, it is important to remain eligible if you want to sell on Facebook. Regularly review the platform's Community Standards, keep your domain clean with high-quality content, and make sure you have the right to publish your content. If for any reason your Page becomes ineligible, Facebook will inform you through the Monetization tab in your Creator Studio, along with the reason why you are no longer eligible.

1. Create videos with in-stream ads.

In-stream ads attract the attention of a captive audience and are ideal for creators and brands with a sizable audience. When a user is halfway through watching a Facebook video, they are more likely to see the full ad if it means they can continue with the original content, as opposed to a standalone ad in their feed, which is more likely. Jump.

In-stream ads in action:

Bottled water brand LIFEWTR wanted to increase brand awareness and generate positive, creative sentiment around their product. Therefore, it implemented short in-stream ads that ran at the midpoint of videos, as well as on properties like Facebook Watch, showcasing its community art projects through powerful visual stories. The campaign resulted in a 2x increase in brand awareness and a 1.9x increase in ad recall.

Why it worked: LIFEWTR used in-stream ads to tell a story and hold the attention of an already captive audience.

Get started: Think about what you want to achieve with your videos and what stories you can tell about your brand. If you want to advertise during the video, try adding natural pauses of one or two seconds when creating your videos where an in-stream ad could appear.

In addition to meeting Facebook's eligibility criteria, videos must be longer than one minute and influencers need at least 10,000 Page followers to post in-stream ads. These tips apply to brands that want to pay to run in-stream ads.

2. Add a paid subscription to your page.

Generate consistent monthly income through fan subscriptions, which encourage your most loyal followers to pay a recurring sum to fund your page. This is a great way for brands and creators with large, active audiences to monetize their pages and reward fans with exclusive content and discounts. The “stars” feature allows users to purchase a star pack to send tips to their favorite creators for additional income.

Fan Subscriptions in Action:

The Vegan Baker has created a separate Facebook group for fans of the brand. Fans are charged $4.99 per month to access exclusive content and discounts. They can also submit additional suggestions through Facebook's Stars feature about content they particularly like.

Why it worked: The Vegan Baker can monetize its active audience while rewarding users with exclusive content. The stars feature allows the brand to see what types of content perform best and increase engagement with a close-knit segment of their followers.

Get started: Fan subscriptions are only available by invitation at this time. Users can unlock fan subscriptions when they have 10,000 followers or 250+ returning viewers and 50,000 posts or 180,000 minutes of viewing.

Once you've received your invitation, you can choose what benefits you want subscribers to get, create a promotional video to launch your subscription service and film a thank you video to welcome new subscribers.

3. Collaborate with brands.

Create content with a relevant and complementary partner to increase your reach and diversify your content production. Many brands want to work with influencers, creators, and other businesses to reach new audiences and increase brand awareness, and this can be a great way to increase your follower count and drive engagement.

Brand collaboration in action:

Style Now Feed has partnered with Jasper's Boutique to bring new content to fans of both brands. The paid partnership allowed the two companies to collaborate on relevant content that aligned with the needs of both audiences, and users could click on each piece of content to learn more about each brand.

Why it worked: The two brands are well aligned and have similar but not identical audiences, meaning they were able to unlock a new segment of followers by reaching users who already had a strong connection with the partner brand.

Get started: Before you can start tagging business partners in posts, you must request access. Once you've done that, you'll be able to access collaboration opportunities and view valuable insights in Brand Collabs Manager.

This type of monetization method is best for pages with active and loyal followers who post content that most brands won't consider risky.

4. Earn money directly from your fans.

Facebook announced in May 2022 that it will put more emphasis on organic video content created specifically for the platform to reject users who simply share TikTok posts. Creators and influencers will be able to unlock monetary rewards of up to $4,000 per month by completing a series of sequential “challenges,” such as generating a certain number of views on a Facebook Reel.

Organic Content Rewards in Action:

Paula Garcia has a lot of followers and by creating Reels, especially for Facebook, she can capitalize on the number of views, likes, and comments she receives. Paula combines several of the tactics used here to solidify her Facebook monetization strategy, such as getting sponsors for her Reels and publishing them organically on the platform.

Why it worked: Paula Garcia already has a large following, so it's a no-brainer for her to take advantage of Facebook's new challenge scheme that allows her to capitalize on the number of views she generates.

Get started: The challenges feature is invite-only at the moment, and it appears Facebook is targeting influencers with follower counts in the hundreds of thousands or millions. Once the invitation is accepted, the first challenge must be completed within 30 days or the feature will expire.

Diversify your profits.

Starting an eCommerce business, selling services, and creating digital products or merchandise all benefit from using Facebook's massive audience as a sales tool. With the platform's new set of features designed especially for entrepreneurs and brands, it's easier than ever to engage new and existing audiences.