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If you do not already know how to make money from Facebook, it's time to learn. Since its launching in February 2004, Facebook has more than 800 million active users as of July 2011. A January 2009 Compete.com ranked Facebook as the most used social networking service by worldwide monthly active users. Based on Quantcast's research, Facebook has 138.9 million monthly unique U.S. visitors in May 2011!
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So, don't you think it is very important to learn how to make money from Facebook? Can't wait? Here are the 4 simple steps on how to make money from Facebook.
First, choose your product to promote or sell on Facebook
You can promote your own offline or online products on Facebook. Or, if you do not already have one, you can start by promoting affiliate products and earn commissions from the sales. You can find hundreds if not thousands of affiliate products from websites like ClickBank.com and Amazon.com.
Second, promote the product on Facebook
Once you have decided on the product/services, you can create advertisements on Facebook to promote the product.
To get the most out of Facebook advertisement, you must know how to utilize Facebook tools/features to reach out to your targeted market. Facebook offers both demographic and location-based targeting. You can tailor your ads based on your targeted market's gender, location, age, interests, hobbies or the groups they have joined within the Facebook community.
To get this right from the beginning, it is advisable that you conduct a market research before developing any advertisement.
Third, improve the click through rate to your Facebook Ads
Your Facebook ad's click through rate (CTR) is the key to how to make money from Facebook.
To improve your ad's CTR and conversion rate, you must first of all, create a heavily targeted ads like what I mentioned above.
Next, split test the various advertisements for your products. Among others, use different images, words or text. Also consider the best hours of the day your ads should appear by looking at your target markets' time zone and age group - are they normally active at night or day time, during or after office hours?
Always check out how your ads perform. Rectify and make the necessary improvements as you go along to get a higher CTR and conversion rate.
Fourth, retain and convert the customers
How to make money from Facebook is not just about Facebook per se.
Yes, Facebook is the one of the best methods to get targeted leads. But in order to convert your leads into your customers, more needs to be done.
When the leads click on your Facebook ads, direct them to your website or a sales page. An informative, compelling and attention grabbing website or squeeze page is important to retain your leads on the page long enough to either buy from you or provide you their contact details.
In this aspect, you need to understand that people don't normally buy the first time they know you. Online or offline, it's important for you to build a relationship and trust with your prospects before they will buy from you.
To be able to build that relationship and trust, you need to capture the prospects' contact details the first time they come to your website/squeeze page.