If you have an audience, you can make money online.
Because people listen to people they know, like and trust. And they buy stuff they recommend. This is the very essence of how success is built on the internet. Whether it be through a blog or social media platform, it all starts with an audience.
And Facebook is no different. You absolutely can monetize a Facebook group you own, and in this post I’m going to show you how it’s done.
How to Monetize a Facebook Group
There’s a number of ways you can monetize a Facebook group, but in this article I’m going to be focussing on what I believe are the seven best methods.
These methods include monetizing your Facebook group directly with a relevant promotion, and monetizing your group indirectly by using it to build other assets (like an email list) which you can monetize at a future time.
Which approach you take depends on you and your circumstances. But any one of the methods I’m about to share with you can be profitable when done correctly, and combined can work even better.
Here are 7 ways to monetize a Facebook group:
- Sell your own product or service
- Promote someone else’s product or service as an affiliate
- Promote CPA (cost per acquisition) offers
- Become a social influencer
- Use your group to build an email list
- Use your group to grow your social following
- Use your group to increase your blog traffic
As you can see, the first four methods are about making money directly through some sort of relevant promotion. While the latter three are about using your group to build an email list, social following or increase your blog traffic.
Let’s dig deeper into each of these methods to see how they work.
1. Sell your own product or service
This method is pretty straightforward. If you sell products through an online store or website, you could use your Facebook group to send targeted traffic (people) straight to your store. Or you could send people to a store you have setup on a third party site like eBay, Etsy, or Amazon for example.
Either way, since you’ve already built trust with your audience and you know what they’re interested in, this is very high quality, targeted traffic. So it will lead to sales.
The good thing about this method is you have full control over the sales process and the product you are selling. The drawback is that it takes a lot more work to setup and isn’t necessarily any more profitable than the next method.
2. Promote someone else’s product or service as an affiliate
If you don’t have your own products, you can make money selling other people’s products as an affiliate, through a process called affiliate marketing.
For example, Amazon Associates is a free program that allows virtually anyone to become an affiliate and promote anything from their range of millions of products.
So this is a great place to start out. But there are thousands of great affiliate programs out there that are 100% free to join.
How does it work?
The idea is to publish content within your group where you recommend a product you know your group members will like, which includes your affiliate link. And when someone buys something after clicking on your link, you earn a commission.
It’s a simple process, but there is a little more to it than this. So I recommend checking out my free beginner’s guide to affiliate marketing if you want to learn more.
How much can you make with this method? How much you earn depends on what products you promote, and which affiliate network you use.
Physical products for example, often attract much lower commission rates. While digital products such as those found within ClickBank, attract much higher commission rates. Sometimes as high as 90% or more per sale.
The plus side of this method is that it’s very simple and can be just as, if not more, lucrative than selling your own products. This is how I earn 6 figures per year online so it works.
The drawback is that you have less control over the sales page of the product you’re selling, since it’s someone else’s product. Also, Facebook isn’t exactly a fan of affiliate links.
So to avoid any issues, you may want to use a URL shortening service like Bitly. Or a better approach, but slightly more effort, is to send people to a simple product review page you create on your own website, rather than directly to the sales page. And that review would then link to the sales page.
Another reason this approach is better, other than staying compliant with Facebook, is because people are landing on the sales page knowing what the product is about, and knowing why you recommend it.
Which is always better than just sending them to a sales page. Because the traffic you send to the sales page will be “warmed up” and typically convert at a much higher rate.
Either way, affiliate marketing is an excellent and simple way to monetize your Facebook group.
3. Promote CPA (cost per acquisition) offers
CPA stands for “cost per acquisition” which is a unique business model that pays you based on getting people to cary out a certain action.
This is basically just a different type of affiliate marketing, so it’s similar to what I just described. But rather than sending people to an affiliate offer and hoping they buy something, you only need them to complete a simple task like filling out a form, entering their email, or creating a free account for you to make money.
For example, if you have a Facebook group about travelling then you could promote a hotel, car hire, or travel insurance CPA offer. And when someone clicks on your link and fills out a quote request form, you get paid.
It’s that simple.
And it works. How profitable it is, really just comes down to your niche and the offer itself. Sites like OfferVault and MobIdea are good places to find CPA offers. But there are many options.
4. Become a social influencer
If you have an audience, some companies will actually pay you to put targeted promotions in front of them. Whether it’s on Facebook, Twitter, Instagram or some other platform.
The basic idea is that you publish a post that “subtly” recommends a company, website or product for example, in a very natural way. But little does your audience know, you are actually getting paid for publishing this content.
I personally think this is deceptive though.
But it depends on how you go about it. The right way would be to recommend something and fully disclose that you’re being compensated, just for posting it. Anything short of this is BS in my view.
Done in the right manner, this can be a good way to monetize your Facebook group by recommending great products. Done the wrong way and you could lose the respect of your audience and maybe land yourself in hot water with the FTC.
If this sounds like your cup of tea, sites like Tribe, Upfluence and AspireIQ are where you go to find offers to promote using this method.
You could also flip this around and sell advertising space to people who want to sell to your Facebook group. In other words, let people post promos inside your group for a fee.
But I don’t really recommend this because it goes against Facebook’s terms and conditions. So it could lead to an account closure, which would suck.
5. Use your Facebook group to build an email list
Email marketing is a powerful strategy when it comes to making money online. Because when you have a targeted list of people who trust you, that you can contact any time, you can make money.
And sending out emails to the people on your list at the right time, and in the right way, allows you to profit not just once or twice, but over and over again.
It allows you to maximize the profit potential from each and every follower you have moving forward. Even if they stop using their social accounts or delete them, you can still contact them via email.
To do this, you will need an autoresponder such as Aweber and a basic landing page. You can try Aweber for free for 30 days and you can setup a free website to place the optin form on.
The idea is to encourage your followers to visit your website, and offer them something of value in return for joining your email list on that site. Something as simple as an eBook, a free guide, or video course will work.
Once people begin subscribing to your list, you will have yourself a targeted email list which can be very valuable over time, because you can promote multiple offers down the road.
Just be sure to provide your email list with valuable content, not just promotions, to ensure a mutually beneficial and long lasting relationship. Just as you do your FB group.
6. Use your group to grow your social following
If it makes sense for your niche, you could create a second or third social account on a different platform. For example Instagram or YouTube. And use your FB group to build that up.
The idea is to invite all of your followers to connect with you on your other social accounts. Which creates targeted growth in a way that is much easier than starting on each platform from scratch.
The more targeted followers you have, the more money you can potentially make through any of the methods we’ve discussed, and the less ‘eggs’ you are putting into one basket.
7. Use your group to increase your blog traffic
If you own a blog, then sending the people within your group to that blog is a great way to grow your traffic. The idea is to create useful blog posts and share these with your group.
As a result, they’ll click through to your site and read your content. This can not only help you get immediate traffic, but can show search engines like Google that people find your site useful, which can further boost your traffic.
More than this, having a blog is a great way to create an income on it’s own. Rather than just building an audience within a platform someone else owns, you own your blog.
You can create useful and relevant content, and that content can rank in Google. And when it does, you will get free traffic. And you can promote your own products, do affiliate marketing, or run ads through platforms like Google Adsense to monetize that traffic.
How Much Money Can You Make With Your Facebook Group?
Nobody can tell you how much you can earn with your Facebook group, because it ultimately comes down to the size and quality of your group, your skill level and the offers you’re promoting.
One person may struggle to make a single dollar, while another person could use these methods to earn 5, 6 or even 7 figures per month.
Either way, it works, because Facebook has the numbers. And you can use this to build up your group and become the leader of your very own ‘tribe’. Which as we’ve discussed can be monetized.
So by focussing on giving your audience valuable content, and implementing some of the strategies I’ve shown you here, you could use your Facebook group to create a very successful business over time.