Mansurat is a freelance writer. She is passionate about innovation in business.
Dedicating time to grow a community of people related by passion on Facebook is no easy game. You may have started your group because you are passionate about a certain cause but there is often no harm in choosing to monetize your Facebook group. In this article, we would be covering 20 easy ways you can monetize your Facebook group while you watch some residual income flow into your bank account.
Ways you can Monetize Your Facebook Group Today!
Before implementing any method that would be shared, ensure your group has a reasonable amount of active members. If the members of your Facebook group are inactive, you may not be able to make anything tangible. This is regardless of the path you take in monetization.
Almost everywhere you turn to, people are trying to market something and pass their message across. Assess your group properly. Allowing people post things in your group for a fee can be beneficial to you, the person who will be posting and your group members if due diligence is done. Be sure to put the right rules in place to guide what can be posted. At the end of the day, it is a win-win for everyone.
Consider fixing a day for sales where you can connect buyers and sellers. Group members and sellers from outside the group can sell products to your audience. Charge sellers a fee or serve as the middleman and get paid for every transaction carried out.
From writing workshops to science workshops, a gathering is a place where people can connect, make friends and learn new things. Try to be creative and organize a workshop around a theme that group members will be interested in. Charge them a fee and enjoy the workshop while you make money off it.
This may be dependent upon the demography of group members and their interests. You can sell physical products or digital products like courses to group members. All you need to do is create the course. Being an administrator of the group, closing deals should not be too hard.
Everyone seems to be coming up with new and creative ideas that they need to get out there! Supporting upcoming creative professionals can be a fun way to make money with your audience.
Still on selling products. Just in case you cannot come up with products of your own, you can sell other people's products and get paid. Reading books on how affiliate marketing works will help you get started.
Start a Subscription Service
Your ability to build a large group is sure proof that you have something valuable to offer. Why not start a premium membership and offer premium services to paying members?
This may not suit you if you are not savvy when it comes to marketing. However, nothing is impossible and you can learn. Consider helping brands generate leads. You get paid while they try their luck at converting leads generated from your group to paying clients.
If you are not comfortable with changing the dynamics of the group to suit that of a subscription service, you can try mentoring other for a fee. Create mentorship packages and be clear about what you are offering.
All business brands must sell products or services to survive. Small brands tend to struggle with this. Reaching people is one of their biggest struggles. Why not let these small brands advertise to your audience and pay you? To get started, pitch your proposal to brands around you.
Many people are eager to reciprocate kind acts. If you have been offering immense value for free, a lot of people will be more than willing to give monetary support. Try opening a donation option in the group. You may be surprised at the amount of support you get. However, have it in mind that you might not get so much money from this model.
Running Google adverts can be expensive for small brands that desperately need traffic. You can rescue such brands. Pitch your offer to them and be sure to price your offer well.
Mentorship will require so much of your time as you have to hold your students by the hand. Starting a practice as a consultant could prove to be more profitable.
Strategic positions like cover images and pinned posts can be a great way to offer exposure to third party services. Place a price tag and let businesses know that they can promote themselves on your group.
Facebook provides the option to partner with brands. These brands get to promote themselves via sponsored posts and you will be paid.
Small Business Partnerships
Most brands that opt for the Facebook brand partnership program are big and super successful. Why limit yourself? Verify small brands and partner with them to raise your revenue.
Partner With Self Employed Professionals
Self employed professionals like fitness trainers, coaches, consultant and so on are always on the look out to expand their client base. Partnering with these professionals can be another source of revenue.
Facebook Lives and Webinars
So long as you are offering something valuable, you can charge your group members a fee to attend value packed webinars. All you need to do is put your creativity to work.
This may fall under partnering with businesses or helping blogs drive traffic to their posts. You can be paid per day, week or month.
Rent out the Group
Selling your group is against Facebook's terms of service. Renting out your group could be safer. If you know someone genuine who would benefit from the audience without ruining the purpose of the group, you can try this option.
There are lots of ways you can monetize your Facebook group. However, you need to assess the group properly before opting for any method of monetizing it. Otherwise you would be sabotaging the main purpose of the group.
What method of monetization do you think will work best for your Facebook group?
© 2021 Mansurat Zakari
Mansurat Zakari (author) from Nigeria on August 16, 2021:
Thanks for the feedback
MG Singh emge from Singapore on August 16, 2021:
Very exhaustive with tons of information. Thanks for sharing.