The idea of monetizing Facebook fan pages can be tingling to you. Not only do people make money but also enjoy an increase in brand image, valued partnerships, and exposure. Besides this, you can partner with more companies and businesses that align with your business model.

You cannot monetize your Facebook page overnight. It is done through a series of tried and tested steps. You need to spend a good amount of time checking out what suits your brand the best.

Let’s discuss a few easy and simple steps that can help you monetize your Facebook page in 2023. We will delve deep into all the aspects and see how we can begin.

Build a Great Quality Facebook Page

This should be your primary goal when you want to monetize your Facebook page. The first thing you need to do is create a Facebook business account. Facebook gives you an option to link your Facebook page with your personal Facebook account. The platform ensures that your privacy and personal data are safe. In addition, it does not publicly reveal any personal account information on your business pages.

There is nothing better than having a proper Facebook page with all the elements tactfully woven together. A few key elements to keep in mind for running a successful Facebook page are given below:

• High-quality and relevant content that suits your target audience
• Post regularly
• Create a well-thought-out brand image
• Grow a loyal and interested following by being actively present for your audience via comments, chats, or DMs
• Request feedback at the right time

To keep your audiences hooked to your account, you have to ensure that your account has regular posts. Try not to go overboard with the posting. It is vital to identify a posting schedule that best suits your requirements. Your business has a specific type of audience. All you need to do is understand at what time your target audience is mostly active.

Develop a brand image which is relatable, easily recognizable, visually enticing, and represents all that your brand is about. Focus your time and energy on creating a unique and distinguished voice that resonates with your brand personality.

Test Out Your Facebook Page Monetization Eligibility

Facebook has some regulations or terms and conditions that you must meet if you plan on monetizing your account. The requirements are susceptible to change with time. Therefore, you must keep yourself up-to-date with the current trends and latest Facebook page monetization guidelines.

Facebook Community Guidelines and Terms of Service

Facebook community standards are the rules that are shown to you right when you are creating your account. You must agree to these rules before you sign up. Being a content creator, you must remember these rules at all times.

Partner Monetization Policies

All these FB monetization policies apply to your page and the content you create, share, and monetize.

Content Monetization Policies

Content monetization policies come along with Facebook’s community standards. The mentioned policy is applied to your content.

If you want to know whether you are eligible for monetization or not, you have to follow the given two steps:

1.      Visit Meta Business Suite on the Facebook platform

2.      Tap on the Monetization tab

Here you will be able to check the eligibility of your Facebook page. 

Build and Promote Your Facebook Retail Store

Facebook has an amazing online store that lets you place ads to sell your products. You can post an ad for a dedicated period, a select audience, and within a chosen geographical boundary. 

From here, you can establish yourself as a seller and earn money from your Facebook page.  The Facebook shops come with add-on features such as Facebook Messenger, Whatsapp, and Instagram thus offering an opportunity to offer seamless customer support.  

However, it is important to note that as per a recent update starting 10 August 2023, you do not have the option to create a shop on both Facebook and Instagram accounts or tag products in posts.

In case of a future dismantling of the retail store feature known as the ‘Facebook Shops’, it is always better to keep a backup plan ready. Having an e-commerce platform is one such step that can prepare you for what is to come. You can promote your digital shop on both Facebook and Instagram.

Build Yourself an Affiliate Marketing Network

Affiliate marketing is an advertising technique that involves third-party marketers promoting the products and services on their platforms. These marketers earn compensation when they can generate leads or drive traffic to the company’s website.

Affiliate marketing is popular among content creators as it has become a great source of passive income for them. All you have to do is paste a referral link in your bio or description. Once a user clicks on your link and purchases something, you generate Facebook page ad revenue. It is indeed that simple. 

However, in the process, never forget to be true to your audience. When you are affiliate marketing on your Facebook account. Make sure that you do an affiliate disclosure by mentioning it somewhere in your post. Make your audience aware of the fact that their purchase will help you earn a commission.

Now, there are innumerable products and services in the world. You cannot place a post and an affiliate link for all such products. Select a niche for your website. And align the products that you choose to promote with the niche. For example, you are a brand that specializes in photography. So, you can add affiliate links for cameras, lenses, photo frames, etc. This way you remain relevant and you build trust with your audience. 

Your audience perceives you as someone who researches, tries products, and then recommends. Only at this point, you start making money from your referral links. 

Make Proper Use of Facebook Ads

The Facebook ad campaign will help you share and promote your products or services to the audience of your preference. You can easily customize your target demographics based on behavior, location, and interests. This feature makes Facebook ads, one of the most brilliant marketing tools.

You can use the Meta Ads Manager to create an ad campaign for your brand. The tool gives you an option to select an objective, budget, and ad placement. The objective selection is important because based on the option you select, your ad will be broadcast to Facebook, Instagram, Messenger, and Meta Audience Network. 

Let us look into the FB monetization best practices and types of ads you can share on Facebook:

In-Feed Ads

Have you noticed how a few ads pop up when you are casually scrolling through your Facebook news feed? These are the In-Feed Ads and by far the most popular category of Facebook ads. One fulfilling method of reaching new customers is posting sponsored content via the medium.

Story Ads

Meta Ads Manager and Meta Business Suite mobile app allow you to create full-screen, immersive stories ads on platforms like Facebook, Instagram, and Messenger app. These short ads will wedge themselves between users’ stories and can be posted in three formats – images, GIFs, and videos. 

Facebook Search Result Ads

Businesses can benefit hugely from creating an online presence beyond the confines of Facebook. These ads sail to the top of search results and garner high visibility. 

Facebook Reels Ads

Reels have added a new advantage to the marketing industry. Whether it is Facebook, Instagram, or YouTube, reels have managed to hook users to themselves on all these platforms. As per statistics, it is estimated that nearly 140 billion people consume reels every day across all Meta platforms.

The short-form videos are extremely popular among the millennials and GenZ. You can run your ads within these reels. Try experimenting with banner ads, and short video ads and play around with post-loop stickers.

In-Stream Ads

In-stream ads are a form of short ads that are added to your videos. So, you make a long video and add these short-form videos at the beginning, middle, or end of this long Facebook video.

Ensure that you create a video that is attractive and relevant. This will significantly help your Facebook video monetization.

However, it is important to note that this feature is available in select countries and for pages that post content in specific languages. 

Messenger Ads

Messenger ads are the ones that appear on the Messenger app. Messengers have a huge audience base of a minimum of 1.3 billion users. Businesses that use the Facebook chat facility to DM customers or turn it into a mode of business communication can enjoy great benefits.

Oculus Ads

Everybody loves a dash of VR experience in their lives. Superimposing VR techniques on your advertisements will significantly improve your visibility. Oculus Ads allows you to launch your ads with VR. Earlier, it also applied to online events but the feature is disabled for now.

If your business has anything to do with the gaming industry, Oculus ads are the ones for you. 

Grow a Loyal Community

Building a community around your Facebook page will help you multiply your growth. Your ideas, views, and your quirks will put you ahead in the game as compared to a lot of people. This community will serve to be your loyal customer base as well as earn you some fan subscriptions.

We have time and again emphasized word-of-mouth marketing. When your users say something good about your product or service, a potential customer is more likely to listen to them. This is the reason why you will find most small or new ventures display their reviews abundantly. You should motivate your customers to share their feedback, video, or written reviews. Request them to share about your product with their friends and family.

Collect feedback from your audience and act on them. Try to find a way to deal with the negative feedback and adopt FB page monetization strategies to resolve the issue. When your customers know that you value their views and suggestions, they will be more inclined to trust and support you. The goal is to provide amazing and impeccable customer support.

Once you start building your community you will be able to notice the growth in your business as well. 

Facebook Group

Facebook allows you to create or join a Facebook group. A group has a particular niche and people who are motivated to follow that particular niche, join the group. There are fashion groups, travel groups, dancer groups, etc. Within a group, numerous like-minded people come together to share their experiences, their findings, discoveries, art, etc.

Focus on figuring out what niche your audience will like to follow. Start with baby steps. Once you have established a niche, the journey becomes easier from there on.

Facebook Stars

Facebook Stars is a feature that allows you to make money while you are streaming online. Now your viewers can purchase Facebook stars and send them across to you. Additionally, they also get an option to buy virtual gifts and a variety of stars. As your stream, you will be able to view these amounts within your stream. For every star that you receive, Facebook will reward you with a commission of $0.01.  

Whenever someone sends you a star, you will notice a chat notification pop up. Here you can keep track of all the stars that you earned. You will also be able to see the data in Creator Studio and Meta Business Suite.

Fan Subscription Groups

Fans love supporting their favorite creators and influencers. Therefore, Facebook offers viewers to pay a monthly subscription to support their loved artists. In return, they enjoy benefits such as exclusive content, live events, live videos, and a special badge.

You can easily do it in the given steps:

•        Enable the feature on your Facebook page
•        Choose a subscription fee
•         Place a subscription button on your posts

The perks that you provide are totally up to you. You can give access to exclusive groups made just for your subscribers. In this way, you will be able to grow an intimate and closer fan group. 

Post Branded Content

Here you create content that displays your partner’s product or service along with promoting your content. Now, you have to ensure that you are transparent.

Partner with the brands and businesses that can add to your worth as a company. For example, if you are selling baby products, you can partner with a company that sells prams or cribs. Your niche audience will benefit from this collaboration immensely. When the brand directly affects your consumers, you will attract more followers.

Having a paid partnership gives you the space you promote your products alongside.

When you post branded content, you must take responsibility for it. When you responsibly share information regarding a brand, you show that you care about your viewers. This could be an excellent marketing strategy for you. If you have hit a stationary point in your business, adopt this technique and grow out of it swiftly. 

The Meta Brand Collabs Manager bridges the gap between brands and creators. You can match the audience, customize a list of creators, and find other businesses with similar audience bases. This feature is still not open to all creators but you can check for yourself.

Bottom Line

Monetizing your Facebook account is the most rewarding thing you could do today. Facebook has been one of the most popular social media platforms for a long time now. Therefore, it is an excellent platform to promote your product or services.

Grow a strong following, adhere to Facebook community guidelines and terms of service, promote your e-commerce store, and set yourself up for growth and development. 

We at UsePerWish, believe that everything is possible. So when you think that you can monetize your Facebook account, We say, “Yes, you can!” 

If you are looking for a little support or a nudge in the right direction, we are here for you.