Facebook has a huge market for product advertisement. If you want to join the fray, here’s a guide on how to make money advertising on Facebook.
There are more than 2 BILLION people on Facebook every month. That’s a huge portion of the globe on one social media platform. You can make money advertising on Facebook by just getting a small fraction of those users to purchase your services or products.
With so many potential customers on Facebook, your options to make money are limitless. I think it’s safe to say that if you aren’t marketing your business on Facebook in 2017, you are missing out on tons of potential clients and money.
There are multiple strategies to promote your business and to make money advertising on Facebook. In this article, I’m going to show you step-by-step how to get started.
Make Money Advertising on Facebook
There are several different ways to make money advertising on Facebook and they don’t all involve leads clicking a link and giving you money. No, it’s much more complicated than that!
You can make money advertising on Facebook by selling your products, your services, other people’s products and services or by giving them something for free (a lead magnet) and having them go through an automated sales sequence that would sell them on your products and services.
First, let’s get started with how you can make money advertising on Facebook by selling your own products
Sell Your Products
One of the ways you can make money advertising on Facebook is by selling a product.
You can use a physical or digital product to sell. Get creative! You can sell coffee mugs, t-shirts, digital courses, or ebooks. Once you have what you’re going to sell, you’ll need to head over to your Facebook Ads Manager and create your very first Facebook ad.
How to Create a Facebook Ad to Sell Products
- Go to your Facebook account.
- On the left-hand side of your dashboard, find “Ads Manager” and select it.
- In the top right-hand corner, click the green button that says, “Create Ad”.
- On the next page, select “Conversions” because we want to be able to track how many people convert into paying customers.
- Create a Facebook pixel for this ad, make the purpose “Purchase” and install the code for the Pixel in the header of your website or on the landing page where your shopping cart is located. This is how you’ll track how many people purchase your product.
- Next, define your ideal audience. Ask yourself, what are the characteristics of people who would purchase your products? Are they women, what age group are they in, and what country do they live in?
- If you’re unsure initially, you can use what’s called a lookalike audience to find your initial customers.
- Finalize your ad by putting up an attractive picture. Try not to use colours that would make your ad blend in with Facebook’s platform. Using the same blue and white colours in Facebook’s theme could mean not as many people will see your ad.
- The text in the picture should be less than 20% of the image. Anything more than that could lead to your ad not being approved to run or it may not reach as many people. Check your image here before uploading it to your Facebook ad.
- Make sure to put attractive marketing copy in your Facebook ad. Think about your ideal customer and what type of problem you want to solve with your product. Make the call-to-action button enticing by putting something like “Purchase Now”.
- Pick the daily budget for your ad and the length of time you want your ad to run for. If this is your first Facebook ad ever, start off with a small budget such as $5-$10 per day.
- Submit your ad for approval! If your ad is approved, let it run for at least 7 days before you go in and make changes.
Sell Other People’s Products
Before you dismiss Facebook advertising because you don’t have any products to sell, know that you don’t need to have a product to make money with Facebook advertising.
You can make money advertising on Facebook by selling other people’s products and services! It’s called affiliate marketing. Affiliate marketing is when you promote and sell other people’s products using a special link or URL that the affiliate made just for you. You receive a commission whenever one of your referrals purchases the product.
The trick to winning with affiliate marketing is to pick a product that you’ve used in a niche that you’re familiar with. Only recommend products that you know are quality products. While it may be easy to promote anything to make money advertising on Facebook, you want to make sure you’re being ethical as well.
You can create an ad for an affiliate product much like you would for your own products. However, there are a few differences.
First, you need to make sure to read the terms and conditions of your affiliate agreement to make sure what rules they have for promotions on social media and paid advertisements.
For the most part, advertising your affiliate link directly using Facebook advertising is okay but you want to double check and make sure you’re following all of their advertising policies so as to not get your account flagged.
Create an attractive ad, just as you would for your own product. Some affiliates have pre-made lead magnets, webinars, and ads for you to use making selling their products super easy!
I’ve even seen some people do webinars with their affiliates as a way to help promote and sell their products to their affiliate’s audience. Check with the product owner to see if this is an option for you.
Automate Your Sales Funnel
The amazing thing about Facebook ads is that they can be used to automate your social media marketing and sales strategy.
You can use Facebook ads to drive potential customers into your sales funnel which would then lead them to purchase your products or services.
To begin, let’s rundown quickly what an automated sales funnel might look like.
Top of the Funnel
Top of the funnel marketing is basically lead generation marketing. This is where an entrepreneur creates content that brings leads into their organization and makes the lead aware of the entrepreneur’s business.
This type of content is most commonly seen in Facebook advertisements. Entrepreneurs are seen giving away free lead magnets that serve to attract their ideal clients and bring awareness to their brand.
A common and popular type of top of the funnel content is a free webinar. A webinar is essentially a webcast of you giving a presentation on the main problem or issues your business is trying to solve.
It gives immense value to potential customers and it also serves as a way for you to present your product or service to them to buy.
Middle of the Funnel
Middle of the funnel marketing is where you would nurture your lead. Hopefully, you’ve gotten into the email inbox of your potential customer and you’re able to reach them on a consistent basis.
In this portion of the funnel, you’ll send more free content to your lead that’ll help them to further solve their problems, help them trust you, and allows you to explain the benefits of your products and services.
Here, leads may purchase some of your lower priced products and services. Even though you won’t make a fortune off of these lower priced products and services, you will make an important conversion; turning leads into actual customers!
Also, this money can also help counter the money you spend promoting your top of the funnel content on Facebook.
Bottom of the Funnel
Bottom of the funnel marketing is where you vet leads and turn them into premium clients or customers.
Here is where you show them that your product or service is the best around for the price and the transformation you’re offering them. This can be done over the phone, over a live stream, webinar, or even through email.
You can vet potential customers to ensure that they are your ideal clients by making them fill out a questionnaire. Their answers should allow you to see whether or not this person would be a good fit for your products and services.
Bringing it All Together With Webinars
There’s one way you can create all the pieces of the funnel in one piece of content and automate it to help you make money advertising on Facebook: webinars.
Webinars can serve as all of the parts of the funnel at once. They can be top of the funnel content because you can offer this presentation for free by promoting it using a Facebook ad and collecting leads.
Next, webinars can serve as a middle of the funnel content because it’s giving the lead so much value and information packed into an hour-long presentation. You’ll also be sending them emails before and after the presentation that’ll nurture them and help you to build a relationship with them.
Finally, a webinar is essentially an infomercial in that you can showcase your product or service live and tell viewers all of the benefits of your products or services. Many viewers buy on or because of a webinar and it’s an excellent way to make money.
There are services where you can pre-record and automate your webinar so that you don’t have to give that presentation over and over again. You can simply set up a Facebook ad promoting your webinar. Once the lead signs up for your webinar, they’ll be put through an automatic email sequence that gives them the link to your pre-recorded webinar.
Through the automated emails and webinar, the potential customer grows a trusting relationship with you and your business without you even being there! Eventually, they buy from you, either on the webinar or from the automated emails sent to them afterwards.
As you can see, there are multiple ways to make money advertising on Facebook. It can be confusing and overwhelming for a beginner to figure out all of the exact steps to take to get started with your first Facebook ad.
Contact us today to discuss how we can help consult you on the specific strategies you need to start making money advertising on Facebook!