Monetizing the networks of Facebook users?

Facebook is here to stay. When it started spreading across the world, many businesses looked on Facebook (and for that matter social media) as a threat to productivity. Employees were banned from using Facebook during office hours. A few years later, it is the businesses themselves that are signing up to Facebook.  The problem that most businesses with Facebook profiles is how to convert their networks into sales; in simple terms how to monetize their networks.

There are a lot of people who think this is impossible because the social media concept does not yield so much to business. Others are fighting so hard to stop the use of Facebook as a business tool. No matter what these people think, businesses cannot be prevented from monetizing their contacts. And here are the steps to follow to turn a Facebook network in money.

It starts with a good profile

Your Facebook profile is the first thing that appeals to users when they get to your Facebook page. You must therefore take some time to present yourself in the best possible way. You must provide adequate information about yourself and your business. A great and decent profile picture is a must. People will trust you if they know and like you. That is why you must make yourself known adequately on your Facebook page.

Enlarge your network

The larger your network, the better the chances of making enough money. It is a known  fact that only a fraction of your network will be interested in your monetization drive. You should therefore try to use all the tools available on Facebook itself and other tools to expand your network. This expansion mover should be targeted. You must attract the relevant people who will be interested in the product and service you want to offer. There is no point having a large network of the wrong people. For example if you are into online dating, then you must attract a lot of singles.

Offer something for free.

After getting a solid network of followers, you must then proceed to engage your network with something. People want problems solved. You must identify a problem related to your core business and offer a kind of webinar or teleclasses related to the problem. Prompt people to register for the program which should be free. Make sure you offer real solutions that incite interest in the program.

Offer a discounted package

Towards the end of the webinar of teleclass, present a discount offer to all participants. Make it in a way that they get interested in your offer. You can limit the number of people who get the discounted product, like say the first X (number) people to come. You will be amazed about the response. Once these people get satisfied, they will inform their friends who will then join your network waiting for another such deal.

Repeat this process

You can then schedule other programs which will also end with special offers. That way, you are assured of an expanding network that translates into real sales instead of mere interest.

Facebook Commerce is one of the best way to monetize your social media profile. You can simply create a facebook store and promote and sell products among your followers. This is one of the best way of social commerce and before doing it, be aware of your customer’s taste.

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