How to Make Money on Facebook: Earn Money on Facebook in 2024

Last updated: January 23, 2024

Facebook is one of the most popular social media platforms, with an audience of nearly three billion people. Naturally, with an audience size that big, it’s a great way to make money. So, whether you’ve got a business page or created your own Facebook business, such as an ad agency, there are plenty of ways to earn money on Facebook.

In this article, here are 14 ideas on how to make money on Facebook in 2024.

1. Collaborate with brands for money
2. Master Facebook retargeting
3. Create a business page
4. Create Facebook campaigns
5. Build a Facebook group and make money from it
6. Sell products on Facebook Marketplace
7. Host Facebook Events to make money
8. Become a social media manager
9. Earn Stars and Gifts
10. Do market research to make money
11. Start a Facebook business
12. Turn Facebook memes into products
13. Send traffic to your website
14. Invest in Facebook stock

Facebook Monetization: How to Make Money on Facebook

1. Collaborate with brands for money

If you’re an influencer, you can make money on Facebook by collaborating with brands. You can make a video on Facebook to drive engagement, such as likes, follows, and sales for brands you partner with. You’ll need to disclose that your content is a sponsored post or ad when doing so, especially if the brand has paid you for your content. When it comes to your collaboration, you might make a video showing you using a product, talking about the importance of a brand, or driving traffic to a brand’s website using your audience. Influencers need to generate sales for their brands to get more brand deals. So, when partnering with brands, partner with those who have relevant audiences for the best results.

2. Master Facebook retargeting

Retargeting ads are advertisements that show up after someone has visited your website. In advertising, these visitors are considered “warm” leads because they already know your brand, whereas “cold” leads have never heard of your business before. As a result, selling to this group of people is highly profitable, making retargeting ads one of the best advertising methods to generate profitable sales. If you’ve got an email list, you can also run retargeting ads to this audience, allowing you to make money on Facebook easily. You’ll need to have a product or service that exists for this method to work. If you have a digital products website on Payhip, you can run retargeting ads to help you boost sales for your online store.

3. Create a business page

You can’t master Facebook marketing without a business page. You can create Facebook posts on your page, run ads like Facebook retargeting ads, and so much more. But you can also add subscriptions to your page to monetize your audience. If you create a group for your page, you can gate it for subscribers only, requiring a subscription for a monthly duration. You could use your business page as a trial for ideas. For example, if you’re thinking about launching a new feature or product, you could ask people what they think so you can make exactly what they want and generate as many sales as required by your set targets.

4. Create Facebook campaigns

You can make money on Facebook through advertising. Those running a business can attract sales when they run an ad. With the right copy, photo or video, and audience segment, you could get more eyeballs on your content and generate more sales from your page or posts. Facebook has the best ad tech, so your business will likely flourish when you create relevant Facebook campaigns directing people to the right product. With any side hustle, advertising is the best method to see growth in your business, especially fast. But be careful; you still want to ensure your return on investment is high and profitable. Many Shopify stores have run high-revenue, low-profit businesses and ended up failing. Don’t become part of that statistic. Always look at actual data to ensure you’re running a profitable business.

5. Build a Facebook group and make money from it

The secret to making money boils down to having an audience you can sell to. The easiest way to build an audience on Facebook is to create a niche Facebook group. Unless a brand is really popular, most people won’t follow their page. However, that doesn’t mean they’re not obsessed with your industry. Giving people a place or opportunity to talk about your niche and allowing them to share stories, products, quotes, memes, or whatever else in the group can be a great way to build an audience and make money on Facebook. Some groups end up selling memberships on their websites, creating courses that they sell to their group members, publishing ebooks that their members can read, or promoting their physical products or services to these members.

6. Sell products on Facebook Marketplace

If you want to earn extra money on Facebook, you can get some by selling products on Facebook Marketplace. Keep in mind some products on the platform sell better than others. Most people typically want to sell junk like old clothes or books, but those types of products don’t usually sell well on Facebook Marketplace. So, ask yourself what people want to buy and sell to generate some Facebook sales. So, around back to school, you might sell old laptops. You might sell lawnmowers, gardening tools, or home maintenance products during the summer. Around the holiday season, you could sell jewelry, handbags, or other products that people often buy as gifts. You don’t need to be a Facebook influencer or master influencer marketing to sell these goods. Since it’s a marketplace, people will be using the search engine, so it’s important to do some Facebook SEO for your products. You will quickly discover how other app users effectively label their product names and descriptions to generate more sales.

7. Host Facebook Events to make money

You don’t need to create content to make money on Facebook. You could also host events. If you’ve got a live event that you want people to check out, you can publish it to Facebook months in advance so people can sign up for it. People don’t always check the Events tab, so you’ll want to promote your event as soon as you know the time and place to ensure people make themselves accessible for it. When you add the city to the events page, local people will likely sign up for it. You can make money from ticket sales, entrance fees, product sales, and more.

8. Become a social media manager

Mastering the art of social media marketing can be a great way to make money on Facebook. You’ll need a Facebook account to manage other clients’ pages, groups, and more. You can promote your services on your own website and share how you help monetize people’s social media accounts. Share each step of what you’ll do for each brand account you’ll manage, such as how you’ll boost engagement, sales, brand news stories, and more. You’ll need a bit of hustle and strategy to grow multiple accounts, as it does take a lot of time and effort to do this. Each month, you’ll need to send an analytics report for your results so people can see that you’ve helped them achieve their follower and sales goals.

9. Earn Stars and Gifts

Facebook allows people to send gifts to eligible creators that can be redeemed for compensation when a set number of stars has been achieved. The eligibility criteria doesn’t include all creators, but it’s something to work up to. Influencers with large audiences can monetize their posts by allowing fans to send them gifts.

10. Do market research to make money

You can get a lot of insight, data, and more from Facebook that’ll allow you to make money. If you want to know how to earn a living from running Facebook ads, you could look up any brand’s advertisements published on the platform to create something better than them. Alternatively, you could join niche Facebook groups to help you understand what people in your industry need or want from products or services that could better help them solve their burning problems. People often share a ton of context on social media, so if you use it as a market research tool, you could mirror people’s language and better align your brand with what people actually want. While it doesn’t have direct Facebook monetization, the insights you get could be very profitable for your business as people share valuable details.

11. Start a Facebook business

If you’ve been thinking about how to get more money from being associated with Facebook, you could start a business that centers around Facebook as a product. Facebook and its assets like Instagram have the best ad tech you’ll find on social media. Most people don’t know how to create winning ads or run marketing campaigns via advertising. You could provide this as a service by running an ad agency that specializes in Facebook or Instagram ads (check out our article on how to make money on Instagram). You could run awareness campaigns that have a high reach, retargeting ads, or video ads to help people generate sales for their own businesses. The best part is this is something you could do from home.

12. Turn Facebook memes into products

You can gain some traction by building a website selling products. One of the products you can sell are products with Facebook memes on it. Of course, you’ll want to be the creator of the memes instead of using someone else’s copyrighted materials or even their likeness. However, suppose you have a funny meme page on Facebook. In that case, you can make money on Facebook by selling your original memes or funny quotes on t-shirts, mugs, cards, and more. When you create memorable quotes or graphics, turning them into a product after testing it out on your Facebook page is a great way to make money and get your ideas tested first.

13. Send traffic to your website

You can build your own website using a website builder like Payhip. Payhip allows you to sell courses, memberships, and more. You can have a complicated SEO strategy to drive traffic to your website via blogging. Or you could do social media sharing by creating posts about your business on Facebook to get the right people on your website. Marketing on Facebook doesn’t need to be complicated; you can share blog posts, join groups to promote your website and sell products from your business to people who find your Facebook business page. Plus, you could also run ads, especially if you’ve got a big launch coming up. Facebook has a massive audience you can monetize through your website, so use it to drive traffic.

14. Invest in Facebook stock

You can make money by investing in Facebook stock. Of course, the stock market can be volatile at times. Currently, brands worldwide are noticing an economic downturn where brands are spending less on advertising. When and if advertising will pick back up is up in the air. So, as with anything, if you invest in stocks, you’ll need to do your due diligence to ensure that it’s a good decision for you and that it’s worth the risk. We’re not telling you to invest in Facebook stock; we’re just letting you know it’s an option that could potentially allow you to earn money.

Conclusion

Now that you know some of the secrets to making money on Facebook, you can get the ball rolling to try some of these things out to earn a living from the platform. If you have some free time, you can reach a large audience of billions of people on the platform. The best method to make money using Facebook is to use their audience but direct it to your own website. If you’re thinking of creating a new website for a side hustle, consider signing up for Payhip, where you’ll be able to create all sorts of digital products, sell physical products, and more to become your own boss.