Businesses, entrepreneurs, and drop shippers know Facebook Ads is a powerful tool with robust analytics and the ability to micro-target audiences. But just having a Facebook Ad isn’t enough to make money. You’ll need to tailor your ad and your target audience to ensure you make money from your Facebook ad.
We’ll break down how to make money on Facebook Ads by creating targeted content that will generate sales and leverage Meta’s tools to increase your engagement. It will take work, but you can do it.
5 Critical Steps for How to Make Money on Facebook Ads
1. Sell Products With a Solid Track Record
You can make money on Facebook Ads if you choose products with a proven track record of selling well on Facebook. Selecting products that already have traction will make your ads more successful. To find products that sell well on Facebook, you’ll want to:
- Search for a niche product category that you like, have an interest in, or have experience with.
- Type the category in the search bar and add a long-tail keyword that Facebook sellers typically use in ads, such as 50% off, free shipping, or limited time only. For example: dog food 50% off.
- Click the Videos Filter in the Search Results. Video ads are the most effective and are easier to determine effectiveness.
- Sort the videos by most recent, then look for videos with over 10K views. The most recent videos with the highest views illustrate the products with the highest potential for sales.
- You may want to check other popular websites in your niche category to see if there are products advertised on these sites that have crossover with the products you found on Facebook. This will be another validator to know if the product already trends and sells well on Facebook.
Related Link: How to Create SEO Content That Ranks
2. Create Targeted Ads That Clearly Illustrate a Problem and Solution
In this step, you need to create a targeted video for the product. The video ad should include these shots:
- Hook your audience by illustrating the problem: You must define a problem or pain affecting your target audience. You’ll want to create a script that really paints the emotion of the problem.
- Show how the product solves the problem: You need to succinctly explain how the product solves the pain point. Use descriptive language that evokes the opposite emotion of your pain point. Then describe the features and benefits of your product.
- End with a call to action: This should be an action such as clicking this link or sharing this video to encourage your audience to buy or promote the product.
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3. Utilize Facebook Audience Insights to Find Your Target Audience
The Facebook Audience Insights tool helps entrepreneurs and businesses create a target audience for their products. Then Facebook will directly serve your ad to individuals that fit your targeted profile.
You’ll want to choose parameters with less competition in your niche. This may mean targeting audiences in countries other than the US or with a different gender. You’ll want to include relevant interests with your product.
From here, you’ll want to dive into the page likes tab to find related pages that your audience has a common interest. You want to find the affinity score that indicates if the audience will like the page. Find the pages with the highest affinity scores. These pages will help you in the Ad Creator.
Use the page likes or specific pages as the interests when in the Ad Creator. Add more interests until you increase your audience size to about 500k – 1 million. Now you have a targeted group for your video.
4. Set a Facebook Ad Budget Based on Your Product Price
Now that you have your target audience and video ad, you’re ready to optimize your budget. Based on successful drop shippers, they tend to follow this budgeting formula for testing the success of a product ad:
Product Price x 3 = Max Budget for the Facebook Ad.
If you don’t get a sale after spending the max budget, you’ll want to assess how your ad performed. If the engagement is low, you may want to try a new audience, rework the video, or choose another product. You don’t want to continue to spend your budget on underperforming ads.
5. Monetize Your Content on Facebook By Meeting Eligibility Requirements
Another way for how to make money on Facebook Ads is to monetize your content by incorporating in-stream ads. In-stream ads run before, during, and after your video. If you produce longer videos or videos that will attract advertisers, then this can be very profitable.
To place in-stream ads in your content, you need to meet Meta’s eligibility requirements. Meta requires that you follow their Partner Monetization Policies and their Page and Content Requirements to run in-stream ads.
Partner Monetization Policies
You’ll want to read the Partner Monetization Policies in detail to see if your content qualifies. Your content needs to:
- Be in an eligible country and from an eligible surface
- Follow Meta’s Community Standards and Content Monetization Policies
- Share authentic, original content
- Monetize authentic engagement
- Follow Meta’s Payment Terms and the Pages, Groups, and Event Terms
- Develop an established presence and connect to entities that follow the policies
Page & Content Requirements
Your page and content must also follow Meta’s Page and Content Requirements. Your content should follow:
- Community Standards
- Payment Terms
- Page Terms
- Content Monetization Policies
- Content Monetization Terms
The content should also be authentic and develop an established presence on Facebook. No sweat, right? It feels like a lot, but you can do this.
Using Content To Make More Money
According to Facebook, there are several ways to make money by using your content on Facebook.
Offer Fan Subscriptions
These subscriptions allow your audience to fund you through monthly, recurring payments. You can set the amount of these subscriptions. In turn, your supporters will get to display a badge in the comments. Also, you can reward them with perks, like discounts on products or exclusive members-only content. Subscriptions are an excellent choice for those pages with active, large followings. Additionally, you must be willing to produce exclusive bonus content, or your fans will see little value in subscribing to your Facebook page.
Collaborate With Other Brands
You do not have to create content on your own. Consider working with other brands or collaborators. You can generate revenue through content that your business partners influence. Many well-known brands do look for content creators that can expose their services or products to a larger audience.
Facebook does offer tools that can help both sides get the most benefits from their collaboration. You can use the Brand Collabs Manager to find and connect with brands related to your business. You will often find only a brand collaborator if your page has a loyal, active following. Also, your pages should not cover topics that are deemed “risky” by these major brands.
Host an Online Event
Many companies often host in-person events for their biggest fans. However, you might only be reaching some of your audience. In-person events can be costly, as you have to rent a space for your meeting. While you can continue with an in-person event, think about extending them to your online fanbase. You can expand your revenue stream with a paid online event on Facebook. These events allow everyone to participate in exclusive events, which can significantly boost your income. These online events are the perfect option for businesses and individuals interested in moving all in-person services, performances, and events to an online platform.
Enable Stars for Real-Time Support
You can earn more money from your existing video content when you enable stars on your Facebook page. Loyal fan bases want to support their favorite creators. Stars are the ideal way to help content creators. Your viewers can buy stars and send them to you, whether you are broadcasting from a live stream or has enabled stars on an old video. These monetization options are great for individual influencers, creators, and game streamers who have live videos regularly.
Include Video Ads
We mentioned ads before, but they are the easiest way to help you earn more money in your pocket. You can place these ads at your videos’ beginning, middle, or end. Facebook will identify those natural breaks and put a video in that spot. However, you have the freedom to also place ads in specific placements in the videos. The type of advertisers and video views will determine your earnings for each video. These options are great for longer videos that you may have on your channel.
Killer Content Will Generate Sales Through Facebook Ads
By targeting your content, audience, and Facebook Audience Insights, you’ll be able to generate sales using Facebook Ads. You can also monetize your content for additional revenue streams. If you struggle to create targeted market content for your products, you should consider leveraging an SEO content marketing agency.
Content Dog specializes in creating strong SEO content for its clients by utilizing proven tools and expertise for maximizing SEO ranking. Learn more about our SEO services and how we can help you make money with Facebook Ads.
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Last Updated on November 13, 2022 by Hilda Wong