5 Ways to Cash in On Facebook
Facebook has revolutionized the social networking scene many times over in the past couple years. Internet marketers and developers worldwide are making money on Facebook every single day, and we’re not talking about chump change either! Several hundred million dollars has been made through Facebook alone, and that figure is sure to rise with the popularity of Facebook increasing every day.
The main difference between Facebook marketing, and MySpace marketing, is the fact that with MySpace, you aren’t allowed to blatantly sell or promote anything without staying under the radar a bit. With Facebook, there are several ways you can make money ethically and easily right on their site. This, and due to the fact that MySpace hasn’t kept up with the times as well, is one of the reasons that Facebook has recently surpassed MySpace in traffic.
That’s quite the milestone to reach, and we’re talking about millions upon millions of potential customers.
If you’re kicking around the idea of launching some kind of marketing campaign on Facebook, but aren’t sure where to start, here are five different ways to make money on Facebook:
1. Create a Facebook Blog – There are hundreds of thousands of these already so to truly take advantage of this, you need to be unique and creative (which goes the same for any method mentioned here). Once you have a large audience, you can then turn around and sell ads and sponsorships to marketers who want to promote their products.
2. Facebook Consulting – There are literally hundreds, if not thousands of companies out there that would kill for a good Facebook Application developer. Since Facebook is fairly new, the supply of great developers is still low. If you have this skill, you would be stupid not to explore this business opportunity. Rumors have it that this skill is a $200-$500 an hour gig. See the potential?
3. Develop Your Own Facebook Apps – Some might say, “Why develop an App for someone else, when you could do it for yourself?” – Good argument but with Facebook you already have the leverage of all their traffic. It’s almost a license to print money, and you’ll be happy you took the time to do it. Imagine if it made it to the top ten Facebook Applications page – you would be making money off it for quite some time!
4. Facebook PPC – If you’re skilled in the PPC arena and familiar with Adwords and YSM, then it’s safe to say that you could take that valuable skill and tap into Facebook’s own PPC program. Many people have made small fortunes doing this already – the trick is knowing what to promote. But what makes it so attractive is the fact that you can actually dial in your demographics down to sub-level – “Canadian Women, Ages 18-35, Single, Who Like Classic Rock”. That’s pretty cool, and if you know how to work it, then you could be building your bank account right now.
5. Write A Book About Facebook – Yeah, it really is a good idea, especially if you know the Development side of things. A well written Facebook Application Development book could possibly make the author millions of dollars, and would earn him/her instant credibility over night. There aren’t many (if any) on the market yet, so there is still room for people who want to take it on. Publishing companies who know what’s hot and what’s not would jump all over you if you had one in development.
There are several ways to make money on Facebook and the five listed above are certainly not all of them. However, they are 5 great ways that you could cash in on Facebook. So go get started on your fortune right now!