Tuesday, August 19, 2008

4 Ways to Generate Income With Facebook

Facebook has over 124 millions of registered users. It is a great social networking platform that can help you make money on the Internet. In this blog post, I will discuss four different ways to earn income online using Facebook.

Promote Your Own Products
Through your Facebook profile, you can market your products to other Facebook users. Since Facebook is a social networking website, you should only market products that are resonate with your profile, otherwise people will quickly see you as a marketer which will make you difficult to make new friends in Facebook. You should promote something that your Facebook friends interested. The product can make a difference in their lives or help them solve a problem. Example of products that sell well on the Internet are digital products such as e-books, music downloads, photographic content and reports.

Affiliate Marketing
If you don’t own your product, you may market other people product for a share of sale commission using your Facebook profile. Here again, you should only choose those affiliate products that resonate with your profile in Facebook. The simplest way to market your affiliate products is by posting your affiliate links in your profile. But, you need to limit the number of affiliate links included into your profile because too many offer links could make your profile look like a sale page and this will turn off people who come to view your profile.

Furthermore, you can offer a free gift or free resource on your profile in exchange for your target prospects email address. This way, you will gather their contact information legally and ethically where you can later send them your affiliate offers.

Offer Your Services
Facebook not just a good place to market products, you can also use it to sell your professional service. There are many services you can sell through Facebook. But, whatever service you are offering, make sure it resonates with the persona that you have built on Facebook. Some of the services you can offer are web development, freelance writing, consulting, one-on-one mentoring service, Internet marketing and so on.

Create Your Own Application
You can develop your own application for Facebook users to download and use it for their benefits of social networking in Facebook. One existing good Facebook application is ‘Introduce Me’. This application let people you know to introduce you to people they know in Facebook. This application is placed in profile. So, you can also contribute your unique and useful application and let millions of Facebook users to use it.

There are a few ways you can make money with your application. You can sell it immediately for a one-time profit. Or market it to have as many people as possible, and then monetize it to earn income. What are your choices of monetizing your application? Well, you can sell ad space within your application to potential advertisers, use the application to help sell your virtual items like ring, tones and etc; or promote your affiliate program for commission.

Developing your own application can be very profitable to you. However, you will need a group of experts to help you and you must have enough financial resources to back your project.


Online Dollar Man said...

Your blog is cool and highly informative, I will be back again.