6 Ways to Make Money from Facebook in Nigeria
One of the best ways that small businesses in Africa can widen their audience and make more money is by taking advantage of social media platforms like Facebook. While billions of people worldwide see Facebook as a way to connect with friends, very few, have learned to see it as a way to make more money.
The most common way small businesses in Africa make money from Facebook is by advertising their products on the platform. What if I told you that there are more ways for your small business to make money from Facebook in Nigeria?
Why Facebook?
Facebook is home to a lot of people around the world and Nigerians are no exceptions. Reports indicate that there are about 2.2 billion active users on Facebook every month. You might not realize how crazy the numbers are until you consider that the world’s current population is 7.6 billion. This is arguably the largest community you can ever find on the internet.
With the huge number of active users of Facebook, business owners must see the social media platform as the bank of endless opportunities. If you see business opportunities on Facebook, you need to exploit them.
Top Ways You Can Make Money from Facebook in Nigeria
As stated earlier, there are massive opportunities to make money on Facebook. We have carefully put together the 6 top ways to make money from Facebook in Nigeria below:
1. Sell your products and services on Facebook Marketplace
In the past, Facebook was simply an online platform that connected friends and families. However, as time went on, business owners began to use the platform to advertise their products and services to friends and family. This obvious need prompted Facebook to introduce the Facebook Marketplace feature. This feature allowed business owners to sell their products to a much wider audience.
However, the Facebook Marketplace was not introduced to Nigeria until February 2021. Now, Nigeria business owners, like other business owners around the world, can sell their products to buyers in the exact geographical location. You can sell your product as a business or an individual and the best part is that this feature is free.
2. Affiliate Marketing or Dropshipping
One of the most common ways to make money from Facebook in Nigeria is through dropshipping or affiliate marketing. Although affiliate marketing and dropshipping have a lot in common the concepts are quite different.
In affiliate marketing, you promote products that are not yours and get a commission for each sale made through your custom link. Typically, your commission would range from 5% to about 50%, depending on the network you decide to join. Dropshipping, on the other hand, involves selling other people’s products as though you own them. You determine how much your profit by buying the products for free and selling to your customers at your rate.
With drop shipping and affiliate marketing, you need not bother about manufacturing your products.
3. Managing social media platforms for businesses or brands
Creating good content is crucial when selling a product or service on any social media platform. However, a lot of brands and businesses struggle to create engaging content that will enhance sales and brand visibility. Hence, posing a great opportunity to make money, especially if you a terrific social media savvy.
Most CEOs and entrepreneurs have their hands full with the offline administrative and operational duties of their business. They often tend to find creating the time to build their content or develop their social media skills challenging. However, the fact remains that nurturing your customers and building brand communication with them online is vital to business growth.
If you are skilled with developing and managing social media content, you could offer to work for businesses and brands. This way, you can make cool cash while doing something you love.
4. Facebook creators studio monetization
This option is typically profitable to individuals that have built a huge following on their Facebook Group or Page. You can earn up to six figures within a short period. As a Facebook Creator, you get paid for ads being streamed within your content. Think of it like the ads that you see when streaming content from YouTube.
The best part of being a Facebook Creator is that your earn more as the views of your content increase. There are several monetization options you can take advantage of as a Facebook Creator. The most common ones are:
· Fans Subscriptions
· In-stream ads
· Branded Content, etc.
5. Be a social media influencer
Similar to Facebook Creators, being a social media influencer hinges heavily on the number of followers you have. If your page followers are in their thousands, you are sitting on a gold mine. If you search, you will not have to look too hard before you find a brand that needs macro and micro social media influencers.
These brands are constantly looking to take advantage of a huge fan base to promote their services or products to their target audience.
6. Sponsored shares and likes
It may be surprising to you but you can make cool cash through sponsored shares and likes. In fact, lots of people take advantage of this avenue to make cool cash. You too can make money from the shares and likes you get from your posts.
Online platforms like Fiverr host gigs that allow you to share a page or content for a fee. The rule is simple; a large number of friends equals more money. Tons of freelancers are using this medium to make money on Fiverr, you can do so too.
Bottom Line
Facebook is more than a platform to chat and hang out with your friends. It is a landmine of opportunities that can generate money consistently. You can try any of the 6 suggestions above to make money from Facebook in Nigeria.
