Facebook is great for sharing pictures of your kids, your dog, or witnessing embarrassing and awkward fights. But this social media giant has much more to offer. Did you know you can turn Facebook into a side hustle?
That’s right. If you’re looking for a little extra (or a lot) spending money, Facebook offers many different ways to make it happen.
I put together this list of the top seven ways you can expand your horizons and generate a little extra income. Here are some actionable ideas on how to make money on Facebook in Canada.
Meta Inc., the company that owns Facebook, Instagram, and other social media platforms, isn’t hurting for money. Their main source of revenue, almost 97%, comes from advertising. The company’s earnings for the third quarter of 2021 are staggering.
Meta had a net income of $9.2 billion – just for a three-month period! Total revenue amounted to $29 billion, with advertising comprising $28.3 billion of that figure. So it’s safe to say that with numbers like that, Facebook’s definitely in the position to pay out money to some of its users.
1. Sell Items on Facebook Marketplace
How much can you make? Simple everyday items can bring in anywhere from $10-$100. Large items, including furniture and antiques, could go for several hundred dollars.
Users on Facebook Marketplace buy, sell, and trade their items with other users in their area. Not only could you sell items you’re looking to get rid of, but you can also buy items listed on Marketplace and resell them for a profit.
Depending on how much you have to sell, you could potentially make some serious side cash.
How much can you make? Big-time influencers can make a career out of promoting products and get thousands of dollars in return. Regular Facebook users probably won’t get rich from working as an affiliate, but they could get some extra pocket money for their troubles.
Affiliate marketers promote a company’s product for a commission. You can post the product on your own Facebook page or even answer relevant questions in Facebook Groups and post the product as a resource.
In return for talking up the company, you’ll get rewarded with cash every time someone buys the product based on your recommendation. You’ll make more money if you reach more people, so it’s a good idea to have a large number of followers if you’re looking to get more cash.
How much can you make? Many businesses will pay a few hundred dollars to have someone promote their business on social media. If you work with more than one business, you can easily make anywhere from $500 – $1,000 per month.
While radio ads and billboards still exist, social media is now a more prominent way to display your business. Because of that, many small businesses are turning to Facebook to get their names out there. If you have the time and knowledge, you can help these businesses and pad your pocket.
Placing ads on Facebook and targeting certain people can generate loads of new business for local places. If you don’t know how to run Facebook ads, there are plenty of courses and videos that can help you out.
4. Work as a Social Media Manager
How much can you make? According to Indeed, the average salary for a social media manager is $18.37 per hour. If you’re doing this as a side hustle, that’s not a bad chunk of change to generate.
A social media manager is a kind of virtual assistant. These people tend to maintain a client’s social media page. From posting pictures and responding to comments, a media manager carefully curates its client’s Facebook presence.
How much can you make? If you have a large following, promoting certain products in a sponsored post could generate thousands of dollars in income. There is a fine line when you do sponsored posts.
The product should be something you like or believe in. You also don’t want your whole page to become a series of ads. That could backfire and irritate your followers, making them unfollow you and aid in losing future income.
If your audience is big enough, you might find brands reaching out to you to do sponsored posts on their products. You can make some big money if you do posts like these every once in a while.
These posts are run for a short amount of time and are meant to promote brand awareness and hopefully garner new customers.
Facebook has many facets that allow you to make money. One area, Facebook Groups, lets online community members gather around specific topics of interest. It’s also a perfect place to make money. Here’s how.
How much can you make? The sky’s the limit on this one. If you hustle and join a bunch of different groups and launch your own, you’ll automatically have a giant customer base. From there, it’s just really about advertising and selling your product in a helpful manner.
With many like-minded people joining the same groups on Facebook, you have a built-in audience for your product. The goal when setting up and maintaining a group isn’t just to make money but to help people in the process.
If you sell coffee beans, you don’t just want to sell, sell, sell. Sure, that’s a big part of YOUR bottom line, but your customers are looking for more out of the experience. That’s why it’s a good idea to add content to your Facebook Group educating and guiding the customers.
Chances are, many customers will have the same questions, so when you see an opportunity, answer them and direct them to your website, blog, or videos. You could have a blog post helping customers choose which coffee bean is right for them. Many customers are more likely to buy from you if they feel engaged.
These days, watching videos online is an everyday occurrence. Because of that, many people are turning to Facebook to make money through video creation. Here’s how.
How much can you make? Facebook pays anywhere from $1 to $5 per 1,000 video views.
Videos that are only one minute long can still make money for the creator through ad placement. Facebook recently changed its eligibility requirements to run in-stream ads. To qualify a user needs:
- 600,000 total minutes viewed from videos within the last 60 days.
- Five or more active video uploads or prior Live videos.
Live streams, recordings of live streams and short video uploads are all eligible for in-stream ads.
Place ads either before or during the video. You can even place a 30-second ad on a one-minute video. These types of ads aren’t available on personal profiles, only on Facebook Pages. You’ll need to have at least 10,000 followers to qualify for in-stream ads.
Facebook provides lots of ways to start a lucrative side hustle. From advertising your own business to selling things you don’t want, you can make a nice pile of cash if you put in the effort.
If you’re looking for other ways to pad your pockets, check out these ways to make extra money.