A lot of people, especially Internet Marketers, tend to stay away from marketing on Facebook. They think monetizing Facebook is impossible, its hard to attract fans, and some even say the Facebook days of marketing are over. I’m here to set things straight. There’s never been a better time to make money with Facebook; their advertising network has pinpoint targeting and attracting the “right” crowd has never been easier. When people come to Facebook, they come to stay; it’s the easiest network to build a loyal fan base. Now I will admit, most people don’t come to Facebook with intentions of buying anything. That’s exactly why our monetization methods will be based on creativity and of course trust from our loyal fans. The key is to pick a specific niche that consists of people who are extremely passionate about whatever the subject may be.
Picking your niche:
For some people, this can be one of the hardest steps of the process. You may not know it at first, but your choice can ultimately be the determining factor between failure and success. With that being said, pick a niche that you are passionate about. Keep in mind, you’re going to have to update this fan page on a daily basis; a man that is passionate about hunting won’t want to update a girl’s fashion page on the regular. You can only deliver the right content to your fans if you’re a fan yourself. Also, stay away from general niches.
A lot of people have trouble understanding that it’s not all about sheer numbers. A fan page about cooking cupcakes with 100,000 likes is way more valuable than a “funny pics” page with over a million likes. Have fun trying to sell something to a 14-year old kid who likes looking at funny pictures. The owners of any of these pages are most likely limited to monetizing with Adsense; trust me, you don’t want to be limited to just one method of monetization.
It’s extremely important to understand the demographics of your niche. You want to pick something that is specific but yet has a large audience. For example, you probably don’t want to create a fan page about bathtub racing, an unheard of sport in Nanaimo, Canada. In addition, you want to stay away from attracting teenagers; very few of them have a form of payment readily available and even less are willing to spend money on Facebook. Try to also avoid over saturated niches; although ‘Fitness’ may have the perfect audience and be easy to monetize, it will most likely be very expensive to build up a fan base. To sum it all up: pick a specific niche that you’re passionate about with an audience that you can monetize.
Building your fan base:
If you’re creating a fan page for the very first time, it’s going to be extremely hard to build up a page without spending money. Of course, if you have another fan page or source of followers, you can always send those fans/followers to your new page. Many people try to avoid spending money on ads, and it usually causes them to fail. People try to buy thousands of fans from websites like Fiverr and end up getting a load of fake fans.
Of course this seller will deliver 1,000 likes to your page, and they will seem like real fans. The problem is they aren’t going to be active on your page, which will only hurt your page by bringing down the “talking about this” number.
The only kind of fans we want are loyal, REAL, and active fans; people that will like and share our posts. In the beginning, there are only two ways to attract fans: Facebook ads and promotion posts on other fan pages. I’ve had a lot of success in the past by reaching out to other related fan pages and paying them to post about my page. Of course, my favorite way to build up the fan base in the early stages is with Facebook ads.
The best thing about Facebook’s advertising network is its ability to target based on interest. For example, Pepsi can literally have ads show only to people who like the “Coca-cola” fan page. With Facebook ads, you’re in control of setting your page demographics. You can select the age range, gender, location, and precise interests to narrow down your targeted audience. You will have the best results by targeting people who like related pages. This feature allows you to get tons of interested, active fans for just pennies on the dollar. I’m not going to discuss how to create killer ads on Facebook because that would take me days; fortunately, the only advice you need is to keep it simple. Always mention the obvious subject in the headline, and place a call-to-action in the description.
Monetizing your page:
Everybody always wants to know when it’s time to start monetizing his or her page; there’s no simple answer for this question. In the beginning, monetizing doesn’t even cross my mind; I focus on building a very solid and active fan base before anything else. When it is time to start monetizing, don’t forget to keep posting valuable content. If your fan page is just one giant sales pitch, you’ll probably start losing fans by the minute. Keep their trust by posting niche-related content regularly. Not to mention, make sure whatever you’re trying to sell your fans has something to do with the niche; don’t just spam them with unrelated affiliate links.
In order to make the most amount of money possible from your fan page, you need to get creative and think outside the box. I’ve found that selling t-shirts is one of the most profitable monetization methods on Facebook; unfortunately, this method doesn’t work with all niches.
The last and most appropriate way to monetize your fan page is by promoting other fan pages, but this only works if you already have a solid fan base. Depending on the size of your page, other related fan pages will pay you monthly for you to share their posts on your page. If you rack up enough clients, you’ll have a pretty nice recurring monthly profit. Don’t be afraid to reach out to other related pages and offer to promote for them. Most of the time, however, pages will reach out to you asking for help, so all you have to do is sit back and keep posting valuable content.
Want a little boost?
Click here for the ultimate Facebook Advertising Guide!