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What started as a convenient way to share our thoughts and photos has blossomed into a trillion-dollar business. However, Facebook isn’t the only one cashing in. Its users can generate their own income streams with comparatively little work. It’s best to focus on building an audience through influencing or content creation, then focus on monetizing it through third-party sites, merchandise, and Facebook’s built-in tipping and donation services.
With its global reach, Facebook and its sister services, such as Instagram, have the power to supercharge online money-making. While not everyone finds their niche instantly profitable, determined individuals typically rise to the top over time. Understanding the landscape of possibilities goes a long way towards helping you succeed.
Before understanding the monetization of these goals, it is necessary to look at the options available. Becoming popular on Facebook is key to earning money. Here are a few routes one can take:
The term ‘content’ covers a wide variety of things. Everything from creating videos to making memes falls under content creation. Those seeking online work for students might consider content creation, as it can be a decent part-time job. Sketching webcomics, releasing music, or filming video essays are all ways to become a content creator.
The most important part of successful content creation is an engaged fan base. Paying attention to the audience and learning what makes them click, like, and share is key. It’s up to the creator to ensure that the audience enjoys and engages with the content. At the same time, creators need to be brave enough to branch out and try new things in order to keep the content fresh.
Become an Influencer or Live Streamer
These roles have a bit of overlap with content creation. However, in this case, it is the influencers and streamers themselves who are the content. The influencer game is about self-marketing via opinions, beliefs, experiences, and interactions with fans.
It doesn’t have to be a stance that fans agree with either. Even those with audiences split on an issue are creating interaction, which is the foundation that’s needed to be a successful influencer or streamer.
Monetization of a large Facebook presence is available through the Facebook platform itself. While ads are one such route, it isn’t the only one. Tips can be given and money can be earned from fans directly through Facebook. Live streamers in particular can do very well here.
Offering shout-outs to fans while live streaming offers a personal touch and encourages others to donate and tip. When combined, these practices can lead to a positive feedback loop that generates additional fans and increased revenue.
For content creators and influencers, earning money can come from a variety of avenues. Selling branded merchandise is a popular practice that can often constitute a majority of a creator’s income.
Other ways to monetize include asking followers and fans to donate directly through sites like Buy Me a Coffee and Patreon. Expanding revenue streams to other subscription platforms like YouTube and SubStack is another way to increase earnings.
The key to expanding your monetization to other platforms is offering something exclusive to fans who follow or donate to you on those platforms. It only takes a small number of super fans to generate serious subscription income across all social media platforms.
Putting the Pieces Together
Making money as an online novice isn’t impossible, it just requires determination and hard work. Social media is filled with endless opportunities. In order to have staying power, people should be prepared to persevere, especially in the beginning.
This preparation and perseverance will begin to pay off once a positive feedback loop starts. Posting regularly, interacting with subscribers, and taking risks is what separates the best influencers in a saturated field.