Facebook advertising has been around for a while now and still reigns as the simplest as well as cheapest online advertising platform today. Even though it has gotten more difficult to advertise on Facebook, it still remains one of the best platforms with the largest reach across varying demographics.
Different advertising platform
While there are hundreds of other advertising platforms such as Google, Microsoft Bing, Yahoo, TiKToK and a host of others, Facebook and Google are the most dominant as of 2022.
So if you’ve been wondering how much and if at all you can make any money from Facebook ads, we created this post to show you three awesome ways for you to make money using Facebook advertising in 2022. Let’s dive right into it.
1. Sell Products with Facebook Advertising
These could be physical or digital products; either way selling products using Facebook ads is one really awesome way to make a ton of money.
Selling physical products using Facebook ads is known as e-commerce and it’s one of the most profitable business models in 2022 crossing in over 4.9 Trillion US dollars in the global market.
Selling physical products requires you to have a store or study suppliers as well as spend a lot of money finding buyers. You also need to have a delivery system in place as well as a payment system.
Some products you can sell range from clothing to adults toys to food and health supplements as well as electronic gadgets. With the demand for products increasing every day the e-commerce market has only started to Bloom. According to the Statista it is expected to grow by 50% to 7.4 trillion US dollars by 2025. This is definitely a market you should not ignore.
The digital product market is not left out of the selling boom. In short the sales of digital products have quadrupled since the onset of the covid-19 and and man’s search for actionable results oriented knowledge has only increased. This has made more people want to invest in knowledge and gaining of practical skills that could be used to up their income or provide some other sort of results such as wellness, weightloss, travel, and others.
Having knowledge in some practical area that has provided results for you and probably a few close friends, you can decide to package this knowledge and sell it as a digital product.
The process to selling a digital product is a little bit more complicated than e-commerce products. Firstly you have to establish authority and credibility as fast as possible. Most people will only buy a digital product if they trust the author.
One way to create such trust and get people buying your digital product is what is known as lead generation. This process involves getting people who are interested in the topic you are trying to sell and nurturing them over a period of time to build trust and to build your authority as an expert or a highly knowledgeable personnel in that field.
For e-commerce which uses direct sales techniques the sales/conversion rate is usually between 1 to 5%, however using lead generation techniques for digital products you have sales of up to 25%. Some tools for carrying out lead generation include email Marketing & WhatsApp marketing. These two tools are used to build what is known as your email or WhatsApp broadcast list depending on which of the platforms you use. It is also worthy of note that you could integrate both platforms.
While selling physical products can make you a lot of money it can also be very tedious especially when it comes to making deliveries full-stop digital products on the other hand require a much longer time to build expertise but once built you can continue making money from the same email list over and over.
That being said with digital products you can fix the price of how much you wish to sell it and you can sell it to anybody around the Globe because you do not have to do deliveries, this is therefore one major advantage digital product has over physical products or e-commerce products. Another advantage is that you don’t have to fear about the product being damaged during delivery or getting lost or stolen. You also do not have to worry about storage space.
So which one should you start? Well that depends on you. Both models will make you a lot of money if done right. To learn more about starting a profitable e-commerce business click here while to learn more about creating your own digital products are making a lot of sales click here.
2. Advertise for clients
Another relatively easy way to make money with Facebook ad is to start your own one-man advertising agency. You can advertise for businesses starting from as low as ₦5,000 naira to as high as 10 million or more. There really is no limit : it all depends on your ability to position yourself and get the right types of clients.
Starting your own advertising agency requires you to have basic knowledge of advertising, copywriting, Facebook ads, web design and analytics.
Alternatively you can build a team to handle the technical aspects while you can simply handle client-hunting. This is far simpler than handling everything yourself. The pitfall here is that you have to be good at people management and putting together a team that have a common goal.
You can advertise for companies, celebrities, small businesses etc. How you position yourself is what will determine the types of clients you get.
The best way to position yourself is by finding a niche and dominating it. For example you could choose to become a Facebook ads agency for brand growth. This basically means you and your team focus on growing different business brands and getting more followers and potential customers for such businesses.
By choosing and focusing on a specific niche you develop a higher credibility, authority, and an ability to demand higher prices. As an icing on the cake, you can easily choose who you want to work with. You are seen as an expert. Remember a jack of all trade is a master of none.
You can learn more about Facebook analytics here and how to advertise profitably on Facebook here.
3. Build and Monetize a following with Facebook Advertising
Facebook ads could be used to build a following online around a topic you are interested in doing business in and then later monetizing that following. This is very similar to building an email list.
This is a slow process and it consumes a lot of money and time however the end result is usually very much worth it.
Building a following is similar to lead generation. It involves dishing out value over an extended period of time to people who are interested in a particular topic or niche that you operate in. This could be done organically but would take over a year to get traction going. You can hasten this up using Facebook likes ads or engagement ads.
These ads are there to help you build your brand image. Using these types of ads, you can build a huge following quickly and start monetizing it using seminars, coaching classes, selling of different products and the likes.
When your page or community reaches a certain number, it starts to grow exponentially on its own and you no longer need to run ads. The algorithm starts recommending your page to people to follow in larger numbers.
Now you should note that you can only run ads on a page, how ever you can run ads to grow a group if you prefer a group than a page. For a group anyone can contribute (depending on settings you choose) and grows ways faster than a page where only you and authorised admins can contribute.
So there you have it, 3 awesome ways you can make money from Facebook Ads in 2022. Want to learn more about Facebook Ads, click here.!