Facebook is quite possibly the most enduring social media channel in existence. No other online media giant has caught so much flack for data collection.
As of early 2019, it boasts more than 2.7 billion active monthly users, with 500,000 new users added daily.
Although Facebook has recently become the target of an even more intense media campaign and a hotly debated topic surrounding privacy protections, with these figures, it remains safe to say Facebook will remain a major social media platform for the foreseeable future.
What is Facebook Monetization?
As the name implies, Facebook monetization describes the act of making money by leveraging Facebook as a monetization platform.
But that doesn’t mean our definition goes out the window.
You’re here to earn money from something of value you provide to your audience.
This will remain true wherever you are, because you’re building a brand that’s made to last.
Among all the social media channels, Facebook also remains arguably the most lucrative platform in 2018.
In fact, because Facebook’s audience is also maturing (with younger audiences not as eager to hop onboard), Facebook and its user base may also be switching over to a more business-oriented mindset and using the platform more and more as a marketing channel.
In this chapter, we’ll discuss how to create an income stream with Facebook. Specifically, I’ll go over a few key considerations on how to earn money from Facebook, including what to do and what not to do on the social platform. We’ll also cover the most important aspects of Facebook monetization, such as
- What you should know about Facebook’s new guidelines
- How to earn money from Facebook pages
- How to build your Facebook group
- How to make money with Facebook ads
Let’s get started.
How Facebook Monetization Works
Before we can dive straight into how to earn from Facebook, it’s critical that we go over a few important changes that have affected everyone on the platform, users and brands alike.
Facebook has recently come under intense scrutiny for its multiple privacy violations, all of which have made it the subject of much marketing debate.
So the question on everyone’s mind is, Is Facebook marketing a waste of time and money in 2018?
It’s an interesting question, but for the foreseeable future, it’s merely an alarmist perspective that detracts from actually making you money.
After all, while people are hesitating to invest in Facebook as a marketing channel, others are pushing ahead full force because they’ve got the results they want, and until the very last day of Facebook’s existence, they’ll be pressing on until they can no longer profit.
Why would you do otherwise?
That said, we’ve got a lot to cover here, so let’s get the pesky rules out of the way first.
Complying with GDPR has become a central concern for businesses operating on Facebook. It is, in fact, the most recent major update to Facebook monetization requirements.
Here’s a quote from Facebook about how seriously you should take this issue:
Creators and publishers with multiple violations could lose access to all monetization features.
What is GDPR? It’s a set of policies that affects you primarily if you’re planning to target users residing in the European Union.
The specific Facebook features that are affected are Facebook Pixel and Custom Audiences.