How to Monetize a Facebook Group in 2021 I Course Creator Community
How to Monetize a Facebook Group in 2021

How to Monetize a Facebook Group in 2021

Want to learn how to Monetize a Facebook Group? You’re in the right place, I’m going to show you a whole heap of simple strategies that anyone can implement to monetize their Facebook Group! Just before I do, I want to spend a minute and explain WHERE the value is in a Facebook Group, which will help you determine which strategy to use!

 

In the online space – it’s pretty easy these days to be a “creator”, all you need is a smart phone and an internet connection. Think about it – literally anyone in the world could be a YouTuber, Blogger, Podcaster, Online Course Creator etc, it’s never been easier! 

The hard part however, is getting your message out there! 

Let’s use Online Courses as an example. Let’s say I’m a French Teacher and I want to put together an online course teaching beginners how to speak French. I could be the best teacher in the world and put together the best online course in the world for people wanting to learn French. I now have a valuable asset. However, if I don’t have an audience of people to sell this course too – I’m going to make absolutely zero revenue from it and it’s going to have been a big waste of my time.

Now the follow up question from there is obviously – well Jono, why don’t you just go and create an audience for yourself… Start a YouTube channel or Instagram or something and get followers… 

 And I could obviously do that… but that is hard work and it takes a LONG time to grow a following! It’s going to take months, if not years to build a decent following on Social Media and I will do that… 

 However… 

If someone already has my audience – it will save me so much time and money if they let their audience know about my course. Instead of me having to wait months / years to build a following – i’ve got one instantly… and I would pay for that! 

Alternatively, you may be thinking – well Jono, why don’t you just pay for Ads? Google Ads, Facebook Ads etc? I could do that… but Ads are expensive and I’m reaching a cold audience that doesn’t know me. Instead of giving that money to Facebook / Google I’d prefer to give it to  someone who has a warm audience of people I want to get in front of.

 

So the moral of the story – the ‘audience’ is just as important as the ‘thing being sold’ – they are both ‘assets’. So if you have a Facebook Group, you have a valuable asset.

How to Monetize a Facebook Group Strategy 1: Advertising

Depending on the rules of your Facebook Group, you may / may not allow people to advertise their services. If you allow advertising in your Group at any time – then this strategy can still work – it’s just not as valuable. If you don’t allow advertising in your Group, then this strategy is extremely valuable.  

You essentially find someone who has an asset that they would like to sell to your audience (or better yet, they find you) and they pay you for ‘advertising space’. The advertising space is usually in the form of a ‘pinned post’ or ‘announcement’ so it appears at the top of the Group. You will leave it there for an agreed period of time, usually anywhere between 24 hours to 14 days.

 

You can either make the post yourself (which is often preferred by the advertiser because you as the Group Admin, usually have more ‘trust’ in the Group) or the advertiser can make the post. They may want to ‘craft’ the post yourself or you may want the advertiser to craft the post for you – either way is fine.

This is by far the easiest way to monetize your Facebook Group because there’s very little effort on your part and very little risk. 

In terms of how much to charge – it really depends on how large / engaged your Group is. The larger and more engaged your Group – the more you can charge. It also depends on the Advertiser, what they are selling and their experience in marketing. 

 For example – I know I can get leads on Facebook for around $10. So if I put $100 in Facebook Ads, I know I’m going to get about 10 leads. So if I put an advertisement in your Facebook Group, pay you $100 and get 15 leads – it’s worth my while to pay you that $100. On the other hand, if I put an advertisement in your Facebook Group, pay your $100 and get 5 leads – it wouldn’t be worth it for me, because I would have been better off putting that money in Facebook Ads. 

It also needs to work for you, for example let’s say you are currently making $0 revenue from your Facebook Group, you want to charge $100 but an advertiser says $50 is the best they can do. You’re probably best off taking the $50 because it’s $50 or $0. However if the advertiser offers your $50 and you’ve got another advertiser offering you $100 – then you wouldn ‘t take the $50. 

 

Bottom line, negotiation is ok – find something that’s a win for both people! 

How to Monetize a Facebook Group Strategy 2: Affiliate Marketing

 

Another easy option to monetise your Group is Affiliate marketing. Now affiliate marketing is a whole nother topic on it’s own and there are people that do this as their full time income. I’m not going to go into detail on it in this blog but I do want to give you enough information to get started and if you like the idea – feel free to do some further research.

 

Facebook Groups are almost always based around interests, the one exception is local Facebook Groups – however, if you’re reading this blog – I’m assuming you’re more online-based (although this strategy can still work in a local Facebook Group, you may just need to get a little more creative).

 

Option A: Amazon 

 

No matter what your Group is about – there is going to be some product that people will want to purchase. E.g. I have a Facebook Group for online course creators – one of the most popular questions in that Group is “what microphone should I purchase” to record my courses. Now I COULD just recommend a microphone… or I could recommend a microphone with a link to the product on Amazon (with my affiliate link) so I get a kickback if they purchase. If you run a Group around fishing – there’s going to questions about equipment, if you run a Group around a musical instrument – there’s going to be questions around equipment. Instead of just recommending – become an affiliate on Amazon and send an affiliate link. Even if there’s no equipment – there’s going to at least be books that you recommend, people, to read – add your amazon affiliate link when recommending that book

 

Option B: Non Amazon Affiliates

 

Depending on your niche, there’s probably going to be apps / software that your Group members want / need. For example in my Course Creator Group – everyone in there needs some type of software to host their online course. I use the platform New Zenler to host my Online Courses and they have an affiliate program so in my group asks what platform I use, I tell them New Zenler, send over my affiliate link and if they purchase – I take a $200 commission. 

 

It doesn’t necessarily have to be software either. I also run a Facebook Group for Fitness Trainers – they all need equipment to train their clients with. I’ve cut a deal with an equipment provider – where they have given me a coupon code and if anyone purchases using that coupon code, I get a 10% kickback. So take a look around and see if there are any options for affiliates. 

How to Monetize a Facebook Group Strategy 3: Influencing

 

Now, this may be a ‘paid thing’ or it may just be a ‘you get stuff for free thing’ which is just as good! Like affiliate marketing, influencing is a whole nother topic on its own, there are people out there who ‘influence’ as a full-time job – I’m not going to go into detail in this blog – but if you like the idea, feel free to do some of your own research.

In a nutshell, you want to connect with a brand (or ideally they connect with you) who usually sells their product to a target market similar to the members of your Facebook Group. The brand will send you their product for free providing you post about it and recommend it to your audience. 

For example, in my Fitness Education Online Group, my connection in the equipment space gave me a free pair of Kettlebells providing I use them in my live videos and mention his brand. 

This is also common in the fitness and fashion industries – a brand may send you free clothing – providing you wear that clothing / promote it to your audience.

 How to Monetize a Facebook Group Strategy 4: Joint Ventures

This is my favourite strategy for monetizing a Facebook Group because I love helping people, especially people just starting off. 

 A joint venture is where you pair with a creator (usually a course creator) and you sell their program/course to your audience and split the profits (usually 50/50).

 This is pretty much the example I listed in the introduction. Someone has a learn French course and no audience. You have an audience of people who want to learn French but you don’t have anything to sell to them (because you don’t have an online course) – just pair up! You’ve got the audience – the Creator has the course – it’s win/win for both parties!

 How to Monetize a Facebook Group Strategy 5: Create a Digital Product

 This is my equal favourite strategy for monetizing a Facebook Group (along with #4). The reason I like this strategy is because in every other example listed so far – I only take a % of the revenue. If I create my own online course / digital product – I get to keep 100% of the profits! The downside is that I actually need to do some work and create a digital product but the advantage of digital products is you create it ONCE and then you can just sell it again and again and again.

 If you haven’t created a digital product before – it’s actually not that hard and that’s pretty much what we do here at the Course Creator Community. The best place to start is to read the following blog – How To Create Your First Online Course !

 How to Monetize a Facebook Group Strategy 6: Create a Paid Membership Option

 Now there are many ways to do this but I want to keep it simple. Maybe you don’t want to create a whole digital product but you do want to add some form of the paid option. The easiest way to do this is via adding regular ‘Group Coaching Calls’.

 What do I mean by that? 

 Let’s use the French Group as an example. Let’s say you’re the Admin of a Facebook Group for people that want to learn French. You don’t want to create a full online course because it’s a little bit of work putting it together and then some expenses in getting the software etc etc. 

 Another option could be to offer a weekly ‘coaching call’ on zoom. You run a 10 Week ‘semester’, where every Wednesday at 2 pm PST you run a ‘live class’ where you teach French. For a Group Member to get access to these calls – they need to purchase your program which is $200 (or whatever option you chose).

 So instead of creating a course and selling that on demand. You’re essentially selling your time. The advantage of this option is that you literally don’t need to create anything. You can literally get started with nothing! You can even choose to do this while you create your online course. 

 How to Monetize a Facebook Group Strategy 7: Combination

Ideally, you want to put together a marketing plan and use all of these options. A basic example may look like this

 Month 1: Promote a Joint Venture Partner

Month 2: Promote your Membership Option

Month 3: Promote your Course 

 

Every month you also allow someone else to promote their services as an announcement in your Group for 48 hours (at a cost).

 

One day a week you also take a photo / live video or just a post promoting a product/service that you are an affiliate for (whether it be software, amazon affiliate product, book, or a brand that is using you as an influencer).

 

You also regularly keep an eye on the posts in your Group and if someone is asking for recommendations for a product that you are an affiliate for. Have your link ready. 

 

Bonus Tip: Also Collect Email Addresses

 

Email Marketing and List Building is a HUGE topic in its own right, probably the biggest topic in Online Marketing so I’m not going to try and cover it in a few sentences. What I will do though, is recommend you also attempt to collect the email addresses of your Group members (by offering them a ‘lead magnet’ or ‘newsletter’ or whatever you have).

 

There are many different reasons why but at its most simple level – you will make more sales if you make a Facebook post AND send an email!

 

Summary: 

 

If you are the Admin of a Facebook Group (providing it is engaged) you have one of the most valuable assets on the internet so you have every right to monetize it. 

 

If you’d like to see how I monetize my Facebook Group – you are welcome to join 🙂

 

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Blog Author

How to Sell Online Courses: Top 5 Book Recommendations for Online Course Creators

Jono Petrohilos

Director at Course Creator Community
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