How to Make Money on Facebook
There’s always room for improvement, so let’s explore the 12 best ways to make money on Facebook.
1. Local Awareness Ads
- Strategy 1: Local Awareness
- Strategy 2: Demand Generation
AD TYPE: AWARENESS
One highly effective method to make money on Facebook is through Local Awareness Ads.
Which are specifically designed for businesses with local store locations.
These ads enable you to target potential customers within a specific geographic area.
Ensuring your message reaches the right audience.
By utilizing Facebook’s advanced audience targeting tools, you can target people in the vicinity of your business.
This allows you to outpace competitors and generate significant results.
Even with a budget as low as $1 a day!
Local Awareness Ads can be further enhanced with optional call-to-action buttons.
Encouraging users to take action.
Such as: visiting your store, claiming an offer, or making a purchase.
In addition to Local Awareness Ads, leveraging Facebook’s Ad platform for Demand Generation can really help build your sales pipeline.
Demand Gen focuses on creating a buzz around your brand and products/services.
Nurturing interest and establishing a loyal base before going for the sale.
With an effective Demand Generation strategy, you can:
- Create a strong brand presence.
- Build anticipation for your products or services.
- And hustle your way to higher conversions.
Combining Local Awareness Ads and Demand Generation strategies on Facebook’s Ad platform can provide your business with a powerful competitive edge.
Enabling you to engage with potential customers more effectively and drive revenue growth.
2. Traffic Ads
- Strategy: Link Clicks (CTC)
AD TYPE: TRAFFIC
The Domain ads, or Traffic ads, are a relatively simple way to make money on Facebook and get your name out there.
These ads are algorithm-supported ads as they show up on the right-hand column of your Facebook page, in your newsfeed (mobile & desktop), and across Facebook’s Native family of apps.
These ads come with a displayed title, a brief description, and a clickable URL.
Simple, cheap, and cheerful.
When we look at when and why we’d use these ads, we’ll find there aren’t a lot of strategies that utilize them…
Except for when we run, what we call our ‘Cheap Traffic Campaigns‘ (CTC).
The name is exactly what it sounds like… CHEAP TRAFFIC.
The idea here, is through these types of campaigns we can filter the traffic through our retargeting ads, while maintaining a lower CPM or overall cost.
SO, although this traffic may have really low conversions, it’s saved by costing less than conversions / sales.
3. Post Engagement Ads
- Strategy: Post Engagement / Video Views
AD TYPE: ENGAGEMENT
Whether running Engagement towards images, or Video Views, toward video creatives (images, videos, & GIFs) are the key to success on Social Media.
…and an extremely good way to engage with your fans – especially through video.
If you have a great video, post it. Videos can help you re-target, too.
How?
By retargeting users based on the percentage of content consumed (25%, 50%, 75%).
Facebook has 8 billion video views per day.
Get on that!
This is an amazing way to make money on Facebook!
Yes, you can, too, small business brand!
Not only will you make money on Facebook this way, they work wonders with increasing audience engagement and followers.
For best results, check the comments left by users and respond to them to boost your engagement.
4. Lead Generation Ads
- Strategy: Lead Generation Ads
AD TYPE: LEADS
Lead ads are amazing… If ran properly.
Have you ever scrolled along your Facebook newsfeed, saw something you wanted to sign up for, only to find it taking you out of the Facebook app?
Which lead to a sigh because now your scrolling might be screwed up and you’ll just have to start over.
Well, there’s a solution for this.
Rather than leaving Facebook to sign up for something with your brand… Wait for it…
They stay on Facebook.
It’s genius! No more frustration from interrupted Facebook browsing!
Of course…. There can be issues with these kinds of ads.
First of all, you have to export the leads manually (unless you get another software program that connects with the API; which most do).
Secondly, depending on industry, these kinds of ads may not convert as well as a well put together funnel.
Best thing to do? Test!
5. App Install Ads
- Strategy: App Installs
AD TYPE: APP PROMOTION
Does your brand come with an app?
If so, the Facebook app ad may be just what you need to get more installs.
Facebook is really working to deliver every angle of your brand.
Displayed on a newsfeed with an image, a description, and a call to action, this is a great tool to drive installs for either a mobile app or desktop app.
Seriously. Facebook will promote the installation of your app!
Along with your local awareness ad, you’re able to post ads about events and offers going on with your brand.
An App event ad is a superb way of letting your audience know that you have something brewing.
And in combination with other applications, you can retarget your audience based on the content or products they were viewing on your app.
Yeah, you’re really gonna make money on Facebook like this!
6. Conversion Ads
- Strategy: Conversion Ads
AD TYPE: SALES
Conversion ads are your bread and butter.
These will be the majority of the campaigns you are – or SHOULD BE running.
Doesn’t matter if you have an eCommerce DTC Brands driving Purchase Conversions, or are a Realtor looking for more leads.
Conversion ads are where you’ll find the best results.
In fact, all the other objectives and strategies mentioned in this post, are to support your Conversion ads.
From Catalog & DPA ads to static ads…
Conversion Ads ARE the single-best way to make money on Facebook.
Are you tracking? Good.
Now, let’s dive into a few of the Conversion based ads, like Catalog and DPA (or our favorite now, Advanced+).
7. Catalog Sales Ads
- Strategy: Catalog Sales
AD TYPE: SALES
Take your retargeting ads to the next level with dynamic product ads (DPA).
The Facebook DPA’s work by targeting users based on their past interactions on your website or app, as well as OTHER websites and apps.
So if Suzy Q is looking for Jeans on jeans.com, Facebook will show her your jeans from your product catalog.
Sounds a bit creepy and it is…
Nowhere is safe from ads.
They stalk you for days, like a hangover in your 40’s.
You can use this to your advantage though.
To do this, make sure your product catalog is uploaded to Facebook and that your Facebook Pixel is associated with the catalog.
Facebook then handles the rest!
It’s a necessary evil.
8. Facebook and Instagram Shop Ads
- Strategy: Shop Sales
AD TYPE: SALES
Now while these are newer ad types, there is still a lot of work that needs done.
We have been testing these granted because we are a – Facebook Agency Partner – we do get the privilege of the $25k FB credit!
Ahh, yes.. That was a humble brag 😉
From our testing so far, they can be hit or miss, depending on your Shop Design, Products, and Customer Service (this is a huge factor).
These types of ads are conversion ads, focused on Purchases, through your Facebook or Instagram Shops (the shop on the platform).
9. Instant Experience Ads (previously Canvas for Mobile)
- Strategy: Sales
AD TYPE: SALES
As we focus on providing immersive and engaging experiences for users to make money on Facebook…
Let’s discuss another Social Media Trend.
Instant Experience Ads, formerly known as Canvas Ads.
They take the interactivity of carousel ads to the next level.
Offering an immersive and dynamic way for customers to engage with your brand using their mobile devices.
These full-screen, mobile-optimized ads allow users to seamlessly interact with various multimedia elements.
Such as images, videos, and even interactive carousels.
Without ever leaving the Facebook app.
Users can swipe through a series of images, watch videos, or even interact with tilt-able panoramas.
Providing an exciting and engaging shopping experience.
These ads not only captivate users but also load up to 15 times faster than standard mobile web pages.
This ensures a smooth and uninterrupted browsing experience.
Cutting-edge ad formats empowers advertisers to garner attention, mobile-first experiences that drive conversions and promote brand awareness.
10. Dynamic Ads
- Strategy: DPA Catalog Ads
AD TYPE: SALES
Dynamic Ads provide a highly personalized and engaging advertising experience for users.
Similar to Carousel Ads.
Which showcase multiple products within a single ad.
Dynamic Product Ads (DPA) take it a step further by automatically displaying the most relevant products to each individual user.
Based on their browsing history and preferences.
Unlike manually created Carousels, DPAs leverage Facebook’s powerful algorithm.
And the data insights ensure that the right products are shown to the right audience, maximizing your chances of conversion.
This makes DPAs an excellent choice for brands with a wide range of products.
As, they eliminate the need to manually create individual ads for each item.
By tailoring the shopping experience to each user’s preferences, DPAs create a more compelling and relevant advertising experience.
Ultimately driving higher engagement and conversion rates.
11. Advantage+ Plus Ads
- Strategy 1: Adv+ Sales
- Strategy 2: Lead Generation
- Strategy 3: Brand Awareness
AD TYPE: SALES
Advantage+ Plus Ads (Adv+) are an advanced advertising solution.
They combine the best features of various ad types.
Delivering a highly effective and engaging advertising experience.
By utilizing FB’s powerful targeting and optimization capabilities, Adv+ ensure that your ads reach the most relevant audience.
With the right message at the right time.
These ads offer a unique combination of engaging ad formats.
Such as Carousel, Instant Experience, and Dynamic Ads.
Along with advanced targeting and retargeting strategies to create a seamless and personalized user journey.
Incorporating multiple ad formats, Adv+ can cater to various marketing objectives, including brand awareness, lead generation, and sales conversions.
They also utilize FB’s advanced machine learning algorithms to optimize ad delivery based on user behavior, interests, and preferences.
Which helps increase the likelihood of conversions and maximizing your return on ad spend (ROAS).
Note: Adv+ combined with the Shop Sales objective is supposed to mimic the process of Google Shopping’s ad network. Meta’s take on it at least.
12. BONUS: Engagement ‘Feeder‘ Campaigns
AD TYPE: ENGAGEMENT
As an added bonus and to compliment #11 – the ‘Feeder‘ Campaign.
These campaigns serve as a testing ground for new creatives to evaluate their potential performance within your evergreen campaigns.
The primary goal of a Feeder Campaign is to allow new ads to accumulate social engagement.
Such as: likes, comments, and shares.
This increased engagement enhances the ad’s effectiveness and drives higher revenue.
Especially when introduced into an evergreen campaigns.
By gauging the performance of ads within the Feeder Campaign, you can make informed decisions about which ads to promote to your Evergreen Campaigns.
This approach ensures that only the most effective and engaging ads become a part of your long-term advertising strategy.
Maximizing your ROI and boosting your overall campaign success.
If the do well in the Feeder, they can then be promoted to Evergreen.
Final Thoughts
Phew! This is quite a list!
In truth, you can make money on Facebook in all sorts of ways.
Ads are the driving power of your brand – they let users know that you exist and you may have what they need.
If you’ve got what they need, the money will come.
You just need to make sure you’re appealing to the right audience.
When it comes down to it, it’s all about audience and stellar content.
Your content needs to look great, it’s relevant, and you have a target demographic.
It can be a challenge but give these ad styles a try.