Chances are that you are one of the millions of people that have a Facebook account, but like many others, may not have realized that you can actually earn money through social networking sites, especially giant ones like Instagram and Facebook.
Did you know that you could make money through pages, ads, and even the numerous apps on Facebook?
If you like getting paid for surveys, and are going to join only one site, I would recommend you choose Ipsos-iSay. Ipsos is the most fun and well-paying panel. Give it a try to see how you like it. It is free anyway!
Here are 20 ways in which you can utilize Facebook as a real source of generating income.
A. Earning Money with Facebook Apps
Apps are all the rage these days.
Although the best way to earn money with Facebook apps is to actually create one that hopefully becomes popular, there are also already made apps that can help you with some pocket change.
1. Develop an Application That’s a Hit
It all starts with an idea and an entrepreneurial spirit. Companies could claim overnight success with the right Facebook application.
You can hire a programmer if you don’t know how to use .PHP or Java, and turn your idea into an app that’s a huge hit.
If you need inspirations, check out the story of Facebook app student millionaires who after being encouraged by their Stanford professor, B.J. Fogg, to create apps for homework assignments, created apps that were making them thousands of dollars a day!
You can sell just about anything you have in your store through your profile by using this app.
3. Garage Sale
Connected with Buy.com, this virtual garage sale makes it easy to sell your used stuff to your friends and make some extra money.
With Zazzle’s “My Merch Store” you can market items you create with Zazzle on their website and on your profile page.
It doesn’t cost anything to add a store to your FB account, and you’re on your way to buying, selling or trading any product or service.
Back in the old days, when you wanted to earn a bit of money, you set up a lemonade stand in your neighborhood.
With this app, you set up your stand in your virtual neighborhood, and you get to sell anything you want, including lemonade!
Try Swagbucks, the famous rewards program that pays you for watching videos, taking surveys, shopping and more.
Best of all, it’s free and simple to use.
This app makes it easy to let your friends know what you are selling on eBay by adding your eBay listings to your profile.
8. Lending Club
This is the app from the well-known peer-to-peer lending site, Lending Club.
You earn interest on the money you lend to others.
They have all the details sorted so it’s safe to use, and they take care of the legal and trust issues on your behalf.
B. Earning Money Using Facebook Pages
Your FB page is an asset that can be used to profit from if you know how.
Here are a few ways you can use that asset for financial gains.
9. Sell Products on Facebook’s Marketplace
When looking for an online marketplace to sell stuff, people immediately think of eBay and Craigslist, but you can also sell a variety of items, from books and baby products to clothing and even furniture, on Facebook’s Marketplace.
It’s like a virtual garage sale so try it out today.
10. Display Ads on Your Page
Similar to displaying ads on blogs, you can easily set up ads to display on your Facebook page by using AdSense, Chitika, and other PPC advertising companies.
The more Facebook friends you have the better your chances of making money.
You will also improve your earning potential by making sure to set it up to show ads that relate to products or services that people on your friend’s list are likely to be interested in.
11. Affiliate Marketing
Registration is free with affiliate networking sites like Clickbank and MaxBounty.
You select a product or service which would be something your Facebook friends would probably buy.
You will receive a code containing a link with your affiliate id embedded in it. Whenever someone clicks on the link and makes a purchase, you receive a commission.
C. Other Ways to Earn Money with Your Facebook Account
Here are a few other ways you can earn extra cash with the help of your Facebook account:
12. Do Sponsored Likes & Shares
Although I am not particularly fond of this one, hundreds of thousands of people do use this method for extra money.
Basically, if you have a large number of friends on Facebook you could go on micro job sites like Fiverr offering to like or share a page, website, picture, etc for a fee.
Obviously, the bigger is the number of friends you have, the more people are willing to pay you to essentially advertise their stuff on your Facebook page.
Some people are actually making a living with this on Fiverr.
13. Become an Ad Arbitrager
This could possibly be the next big thing in the digital media world. Facebook has a self-serve ad system which allows for targeted advertising on a CPC as well as a CPM basis.
With the massive number of people that use Facebook and its immense ad inventory, there is a huge potential for media buyers that purchase ads on FB and then sell targeted traffic through ad networks.
14. Get Paid for Market Research
People are quite free with their opinions on Facebook about what they do and don’t like. And that creates a massive focus group that can be tapped for market research.
The ability to easily access highly targeted audiences is an opportunity not to be missed. Survey reports can be completed much faster and more cost-effectively than ever before.
Any market researcher that is up with the times will have their finger on the social media pulse, see its value as the future of consumer opinion mining, and incorporate it into their business strategy.
15. Facebook Party Planning
Facebook is a useful tool for party planning.
You can do everything party related like creating an event and sending out invitations, providing updates, creating a forum for guests to start a discussion, and once the party is over, uploading an album with photos and videos of the event.
Savvy party planners will have Facebook promotions as part of their plan, and you can even offer your services as a Facebook event planner.
16. Become a Facebook Marketing Expert
Some marketers are still trying to catch up on how to effectively use social networks as a marketing tool.
If you know the ins and outs of marketing tactics and strategies on Facebook like the back of your hand, you could sell your services as a Facebook Marketing Specialist to advertising and public relations agencies, as well as businesses of any size, shape or form that need help with their marketing strategy.
Just like Google revolutionized search advertising, Facebook has a similar effect on social media advertising, so use your knowledge to help companies make use of this potential.
17. Write a Book on How to Use It
While using Facebook may almost seem like second nature to some of us, there are others, for example, the older generation, who could use a little help getting to know their way around this social networking site.
You could write a book on how to use FB, including a step by step guide to setting up a profile, containing information that is clear and easy to understand.
18. Blog about It
You can start up a blog for free with blogger, and also include Google AdSense (this is already incorporated in blogger so it’s quick and easy to use) to set up ads to display on your blog to make some money.
You could even look at getting some sponsorship once you build up your reputation as an expert on anything related to Facebook.
Also, don’t forget to look into affiliate networking sites to earn some extra cash promoting Facebook related products.
19. Sell Likes & Shares
This is another method I don’t particularly like, but it’s out there.
Some people on sites like (again) Fiverr, offer a service where they get thousands of likes or share on a page you specify. There are even some companies now that specialize in doing that.
While usually people selling on Fiverr seem to be using a bot to generate thousands of fake accounts, thus getting you thousands of fake likes and shares, there are a few companies that insist they deliver shares and likes from real accounts with real individuals behind them.
People pay for these fake (or real, but useless since they are not genuine) likes because it’s much easier to get new customers/visitors to like you when they see a big number of people who’ve already liked you. It’s the herd mentality.
20. Create & Sell Fan Pages
You can actually make good money by offering customized fan pages to businesses. Depending on the customer and their needs, it can be as simple as writing a few sentence about the company and putting a nice header picture together, or as specialized as creating custom graphics and images to create a truly amazing Facebook page.
HubSpot has a great list of 15 beautiful Facebook fan pages that can give you some ideas and inspirations on how to create great looking fan pages.
Again, take a look at Fiverr. There are tons of people who make money this way.
In fact, I hired one guy to do a fan page for my paid survey reviews site SurveySatrap.com. He did an OK job, and for $5 I can’t complain.
What I personally like about Facebook marketing in general is that there are options for everybody.
There are some methods that will help you earn a little pocket change, while others will enable you to actually make decent money from Facebook.
If you know of any other method or app that you use personally, or perhaps know someone else who does, feel free to share it below.