If you’ve got an audience online, you can make money.
Why? Because people buy stuff from (and through) people they know, like and trust.
This is the very essence of how success is built on the internet. Whether it’s done through a blog, social media platform, forum or some other channel. It all starts with an audience.
So, how exactly do you monetize your Facebook group in a way that brings in consistent profits? Read on…
Building & Monetizing a FB Group The Right Way
Facebook has the numbers.
In January of 2017 it reached a user base of over 1.87 billion users which is approximately half of ALL internet users across the globe. That is a staggering number, and one that no other social platform can boast.
Apart from the sheer volume of people you can reach, having a targeted FB group allows you to become the leader of your very own ‘tribe’. They give you the tools to bring together any kind of audience, and they allow you to step onto the podium front and centre to talk about whatever you want. This is highly valuable from a marketing perspective.
When building/ running a group, your aim is to build a loyal fan base of people who are eager to learn more about you and what you have to offer. This is not achieved through spamming though, as you likely already know. People on Facebook do not like being pitched to, and rightfully so. It’s a social platform after all.
That being said, you can build loyal fans and make money by giving people genuine value.
When you do this, people will listen to what you have to say, and build your group for you. Ultimately, you can make a decent amount of money this way and without spending a dime on marketing.
Relevant promotions are promotions that your target audience are going to get value from. They will identify with the product, and be inclined to buy since it suites their needs.
For example, if you have a Facebook group about “Natural Home Remedies” then you will want to make sure that whatever you promote is highly relevant to this topic.
Not only this, but you will want to ensure that you only promote quality products and services you know your audience is going to get genuine value from. Promoting products based purely on how well they convert, and in a spammy way, is a recipe for disaster.
Focus on offering people relevant value, and you will do well.
#1 Sell Your Own Products
If you have an online store or a website with a products you sell, you could send people straight to your website. Alternatively, you could send people to a store you have setup on a third party site like eBay, Etsy, or Amazon.
The good thing about this method is that it’s direct, and you are making money straight away since you own the product.
The downside is that creating, marketing and selling your own product is a lot more work than other methods that can attract just as high amount, or higher, profits.
#2 Promote Affiliate Products
If you don’t have your own products, you can make money selling other people’s products as an affiliate. Amazon Associates is a free program that allows almost anyone to become an affiliate and begin promoting anything from their range of millions of products.
The idea is to publish a relevant post within your group that recommends a product that you know your members will like. The post will include your unique affiliate link too. You may want to use a URL shortening service like the free Google URL Shortener or Bitly to avoid any difficulties with facebook, but it’s as simple as that.
Anyway, when someone buys through your affiliate link, you earn a commission.
How much you can make depends entirely on what products you promote, and which affiliate network you use. Physical products often attract much lower commission rates, while digital information products such as those found within ClickBank, attract much higher commission rates. Sometimes as high as 50-60% or more per sale.
Again, it’s whatever is relevant to your audience. Do some research on this, as it can make a big difference to your overall profits.
A better approach (in my opinion) is to send people to a detailed product review on a blog post you create, rather than directly to the sales page. The review would then link to the sales page. The reason this approach is often better, is because people are landing on the sales page knowing what the product is about, and knowing you have tried it yourself/ genuinely endorse it. The traffic you send to the sales page will likely convert at a much higher rate.
#3 Promote CPA Offers
CPA stands for ‘cost per action’ which is a unique business model that pays you based on getting people to cary out a certain action. So, rather than sending people to a link as an affiliate and hoping they buy something, they only need to complete a task such as fill out a form, enter their email or create a free account.
You can definitely make money this way, but it depends on your niche and the offer itself. Places like OfferVault are a good place to explore when it comes to CPA offers.
#4 Become a Social Influencer
This is becoming more and more popular these days. If you have an audience, people will actually pay you to send targeted promotions to them. Whether it’s on Facebook, Twitter, Instagram or any other medium.
Big brands are leveraging this marketing method with good results, but it’s still relatively early days for the average person.
The basic idea is that you publish a post that subtly recommends a company/ website/ product in a very natural way, but you are getting paid for publishing this content.
You may want to be careful here though, as there are disclosure laws on this (depending on the circumstances) and some consider this underhanded and spammy. Your audience is more valuable than any one deal, so it might pay to be upfront with them about the fact you do this kind of thing, if you do decide it’s worth it.
One less obvious way this is being done is through Instagram. If someone posts their email address on their Instagram account, this often means they allow people to pay for ‘shoutouts’. This is where you pay them an agreed amount for them to post your picture on their page. It’s cost effective, and potentially worthwhile.
There are some interesting new websites starting to emerge in this space though that make this process more official. A website called Tribe allows influencers to send promos to their audience, and advertizers will pay to reach them.
They essentially act as a middle man. This particular platform defines an ‘influencer’ as someone who has a following of 3,000 or more people and you get paid by the advertizer on a ‘per post’ basis depending on how large your following is on FB.
The good thing about these methods is they can potentially net you a decent, and consistent profit without a huge amount of work. You already have the following, so making money is the easy part.
The drawback is that it can potentially come across as spammy if you go about it the wrong way. As in, if you are too aggressive with your tactics and promote crap. Not only could doing this limit your income, it could even destroy your group.
The key is to make sure your promotions are relevant, quality, and injected tastefully within a consistent flow of high value (non-sales related) content. Be sure to make all relevant disclosures too, and use a URL shortener if posting affiliate links on FB.
Also worth mentioning is that, without implementing the following, you are not building your digital assets in a very strategic way if all you do is promote stuff. Only a small percentage of people will actually buy through your links in most cases, this is just how internet marketing works.
In order to maximize your profits, the following strategies are worth considering.
Build Your Assets
This is all about using your existing asset (FB group) to build other assets. This might not sound very exciting, but this is definitely the smarter longterm approach.
Why? Because the true value of what you have with a group, is people.
These methods allow you to grow your following, and connect with them over and over again, long after any one promotion. At the very least, try to implement these in conjunction with one or more of the above strategies.
#5 Grow Your Social Following
If it makes sense for your niche, create a second or third social account. Instagram is one idea since it’s owned by, and integrated with FB but it may not be right for your niche either. Platforms such as Twitter, Google Plus or LinkedIn may work for you. As you know, there are many.
The concept here is to invite all of your followers to connect with you on your other social accounts. This 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 and the less ‘eggs’ you are putting into one basket.
#6 Grow Your Email List
Email marketing is a powerful strategy when it comes to making money in just about any and every way online.
The reason being, you have a targeted list of people who know, like and trust you. Sending out emails to these folks at the right time and in the right way allows you to profit not just once or twice, but over and over again.
In other words, this 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. You can learn more about these on my resources page.
Whichever service you use, 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 a video can work well.
This is known as an ethical bribe, and it does work. Just try not to overcomplicate it and give people genuine value, targeted at their needs.
#7 Grow Your Blog Readership
If you have your own blog then sending those within your group is a great way to grow your readership and build authority with your audience. Rather than just posting promos and motivational stuff, you could create useful blog posts and share these with your audience.
This will build trust, respect, authority, and increase your results over time across the board.
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. When it does, you can promote products in a similar way to how I explained above or with advertizing such as Google Adsense.
When you combine social media and a blog, you have a very powerful business model you can build and scale over time to produce any level of income you want. It does take time, but it can be very worthwhile and you can encourage your existing followers to spread awareness about your blog and share your content. Win win.
By focussing on giving your audience valuable content, and thinking of longterm strategies in conjunction with promotional offers, you can create a very scalable and successful business over time.
Most people want to make money quickly and as easily as possible. Fair enough. But the results you can achieve from doing a little planning and strategic thinking far outweigh any quick, last ditch FB group monetization strategies. Not to mention, the more value you add, the more your audience will love you for it!
Your FB group is your asset. Cherish it. Nurture it. And it will do the same for you.
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