Read this if you are looking to monetize your Facebook Group
Do you have a sizeable audience on one of your Facebook groups? If yes, then you have a golden opportunity at hand to make some money. But here's the thing: you need to do it the right way. The primary aim of Facebook groups is to connect like-minded individuals. They serve as online meeting places to spark discussions, express opinions, and share interests. So if you want to monetize your Facebook group, it's vital to maintain integrity and avoid senseless advertising, which can drive your existing members away. Luckily, you've got plenty of tactful methods to make revenue from your Facebook groups. Here are our top picks for the best ways to do that, which some of them we have successfully implemented in our own community. Let's dive in.
In most cases, Facebook groups members participate in group activities for free. However, you can also charge your members for subscribing to your content.
But in case you have never subscribed to a group's premium content, you might wonder if people are willing to pay for it. The truth is that Facebook users don't mind handing over around $10 per month if they get problem-solving content and networking possibilities in return. You can even go a step further and give your premium subscribers step-by-step guides on solving industry-specific problems and private mentorship.
Here are the three subscription plans you can offer your Facebook groups members:
Email remains one of the most effective marketing channels. It's still relevant in 2022 and not going away any time soon. So building an email list should be among any company's strategies. You'll gain an additional channel you can use to interact with your audience, generate value for them, and, eventually, get them to buy from you.
But first, you'll need a list of email addresses so that you'd have people you can message. And guess what? You can build this list out of the email addresses your Facebook group members give you. You see, all groups have a feature that makes the first step - getting the email address - simple. Every time someone wants to become a group member, you can ask them three onboarding questions.
Here’s how it looks like on Facebook:
Here is an example of the questions we ask in our B2B Marketers and Founders Group.
So one of these questions can be asking for their email address. Plus, you can use this chance to ask industry-specific questions. That will allow you to gather information to segment your audience and follow up with emails specific to their interests.
There's only one problem. The second you approve someone to join your Facebook group, all the information they entered will vanish. So your only chance to retrieve people's answers is before you accept their request to join the group. How to do that? Honestly, there aren't that many options. Let's explore the most common ones:
As you can see, these methods take a lot of time and are expensive. There's also a quicker and more cost-effective way to approach the situation: using a program like Socialtribes which we created to solve our own needs. It enables you to automate the process of collecting email leads and sending them directly from the new members' answers to your email list, google sheet, or your own custom dashboard.
That way, you'll free up your time and resources to focus on what's most important: nurturing these leads into buying customers.
Millions of online transactions happen every day where customers pay money to receive products. And the highly active online business environment is possible partly to thousands of affiliate marketers who promote the products. They are the ones who gather an audience, introduce products and get people to buy.
The cool thing is that it's never been easier to become an affiliate. Sites like Warriorplus, ShareASale, and Clickbank give anyone access to marketing materials for a wide variety of products. Pick one, start promoting it, and every time someone buys the product through your link, you earn a commission. And you can use your Facebook groups as platforms to launch your affiliate projects.
Needless to say, all your affiliate links should be congruent with your group's purpose. If, for example, you're bringing together people interested in building effective Facebook ads campaigns, it's not a good idea to suddenly start selling them weight-loss products. That would only damage your credibility. Instead, you could offer them educational materials about creating Facebook ads, how to segment your audience, etc. So take the time to explore the affiliate platforms and find a product to promote that fits your audience's needs perfectly.
You can also write directly to a brand you love and offer them to promote their products on your Facebook groups. If you've got a highly engaged and large audience, pretty much any company would be willing to work out an affiliate deal with you. And the best part would be that you'd get to sell an item you would gladly purchase yourself.
Once you've got a large number of people engaging with content in your group, sooner or later, someone wants to post adverts to serve their agenda. And you, as the owner of the group, can charge them for doing it.
Mostly, the people interested in promoting their products on your Facebook group will turn to you themselves, and you can agree on how much it will cost. But it's also perfectly okay to create a pinned post yourself, saying that you're open to selling ad space.
However, it's vital to keep your Facebook groups' members' best interests in mind and make sure you trust the person who wants to advertise in your group. Are they a long-time contributor or someone who joined yesterday? Promoting fraudulent schemes, even unknowingly, will damage your group's reputation and delete any chances of selling to your audience. Instead, aim to sustain your group for the long term, don't get tempted by quick money, and keep all your ads 100% relevant and trustworthy.
Do you have plenty of expert knowledge on a topic and could provide lots of actionable tips to your Facebook groups members? Then you've got a possible course at hand you can sell.
You can write an ebook, record a series of videos, or do audio recordings where you'll discuss your insights into a subject matter that interests your audience. It's an excellent way to monetize your Facebook group if the members are already warmed-up to your expertise from your regular and frequent posts.
But how to create a course from scratch? It's actually pretty simple. You start by devising a plan for what you intend to cover in your digital lessons. Let's say, for example, you create a course on using social media analytics for your marketing efforts. Here's what the outline might look like:
Obviously, you've got a lot of videos and posts to create with such a plan. But the good news is that you only need to do it once. After you have your course, you can keep selling it via your Facebook groups.
So these were our top methods to monetize a Facebook group in 2022. You can use any of these to finally start making money for all your efforts of producing valuable content. And the best part is that they're all relatively easy to implement. At the same time, they can give a nice extra revenue boost for smaller-to-medium companies and even larger enterprises.
But remember: a thoughtful approach is required to keep people on your side. You should only monetize your Facebook group with offers relevant to your group's purpose. That way, you'll keep your audience's trust and can continue growing your sales and membership.
So if you haven't created any Facebook groups yet, you can start by doing it today. It's an excellent revenue-making opportunity. And it's time for you to get in on it!
Have you tried some more ways to monetize your Facebook groups? Share your experiences in the comments.