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Taking Advantage of the Facebook Money Machine

Facebook makes money – huge amounts of money, and many people and companies are sharing in that bonanza.  It’s all about marketing and understanding Facebook’s ecosystem, how it works and, more importantly, what does not work.  Facebook marketing isn’t just for marketing geniuses; anyone can do it after learning the tricks of the trade. Here are some of the basics of marketing your business through Facebook or building your own marketing business through Facebook.

WHAT IS IT?

One of the first things people do after making a new friend is adding them on Facebook. Everyone seems to have a Facebook account, except those taking a stand and unwilling to conform to the norms of this digital age. It’s one of the reasons Facebook decided to start running sponsored ads; they realized the value of their database and figured out how to unlock it. Anyone can now use Facebook ads to market what they want. More and more people are realizing that there are tricks of the trade that can achieve better results.

There are three primary methods that someone can use to market something on Facebook:

Pages

Facebook Pages are free and can be set up by any business or organization. It’s as easy as setting up your personal profile: the people who like your page essentially become your Facebook fans. They can see the posts you put up on their news feed, are able to stay up-to-date on the latest news about your company and can interact with you via messages. On your personal page, you have a limit of 5,000 friends. On a business page, you can have unlimited fans.

Ads

You can buy Facebook ads that are released to the news feed of your target audiences. Facebook allows you customize your ads; you can essentially choose who will see them according to the restrictions you set. For example, you can set your ad so only women of a certain age living in a certain area will see them. Facebook allows the viewers of these ads to either like your page if they enjoy the ad or delete the ad off their news feed if they didn’t.  (Read this immortal.org article for more about Facebook Ads and Marketing.)

Groups

You can create a Facebook discussion thread called a Group and add people to it who you think may have similar interests. This method may be time-consuming.

WHO IS DOING IT?

Ever seen a post while scrolling through your news feed that hasn’t been added by a friend or by a page you’re following? Those are Facebook ads. The post will have a small logo beneath it that mentions that it’s a sponsored post.

Some of the best Facebook marketing campaigns have been listed here on Social Media Examiner. Qatar Airways, for example, uses their Facebook page to post photos related to soccer. This is something their fans care about, so they engage with Qatar by liking the posts and commenting. They chances are high that they will think of Qatar the nex time they want to book a flight.

Oreo uses recipes and popular hashtags to engage their Facebook audience. The hashtag OOTD (Outfit of the Day) doesn’t seem to relate to cookies at first glance, but Oreo used it in a clever way, They added a white scarf around a glass of milk next to their product with the caption “sweater weather.” They got all the traction of a hashtag that doesn’t actually relate to their cookies by making it relevant for them.

Coffee giant Starbucks has over 37 million fans on their page. The brand uses Facebook marketing often to increase brand awareness and keep their fans engaged. They post about their new products, useful ways to use their products that already exist and fun photos that their fans will like.

Taco Bell blacked out their social media pages including Facebook in order to create a buzz around their new mobile ordering app. TOMS uses Facebook to share stories about how their one-for-one policy has helped thousands of people, letting their users know that those new pairs of shoes is doing some good. You can connect with your customers in similar ways,  on a deeper level, by sharing stories about your brand on Facebook.

WHY SHOULD YOU DO IT?

These are some of the reasons you should be using Facebook as a marketing tool:

1. A Lot Of People Use It

More than one billion people currently use Facebook, making it the largest social media network in the world.

2. It’s Cheap

Facebook ads and Facebook marketing in general is a low-cost way to generate maximum profits. You can start running ads for as low as $5 per day. Although the ads are cheap, you can blow through a lot of ads and money making no profit at all if you do it in an undisciplined manner. Keep reading for more information on how to get started.

3. It’s Customizable

Facebook ads can be used creatively to target exactly who you want. Targeted traffic is the best way to convert views on your ad into profit. For example, if the product you’re trying to sell is a new women’s shoe store in a certain area, you can customize your ads and target them towards women who live in the area near your store, making it more likely to sell than if you target women who live in areas far away who may not want to make the effort to travel to your store.  

People Spend Time on Facebook

62 percent of Facebook users log in every single day. They spend actual time on the platform; statistics say that a person will stay on Facebook on average for 20 minutes per day.

If you’re trying to find an audience to buy a product or service you’re selling, look to Facebook. If you’re a customer looking to learn more about a company,  search for them on Facebook.

WHAT KIND OF PROFIT ARE SUCCESSFUL PEOPLE MAKING?

Humans of New York, a blog about the people of New York City that was started as a personal project by photographer Brandon Stanton, has a reach of millions. Stanton has his own books and continues to use Facebook to tell stories. He started with almost nothing. Currently, his net worth is an estimated $7 million.

Other examples of success stories include that of Baseball Roses – a company that sells artificial roses made out of baseballs. Founder Mark Ellingson tried and failed to use Google AdWords before trying Facebook ads. The company now earns 473% returns on their initial investment.

Rosehall Kennel, a kennel that breeds and sells German Shepherds, made a 4,000% profit through Facebook, according to the owner Eliot Roberts. Ronando Long, founder of SuperHeroStuff.com, said that his website started generating 150% more revenue once they joined Facebook.

HOW TO GET STARTED?

There are many options if you’re looking for a cheap and effective way to get your business out there and reach thousands of potential clients or customers who use Facebook every day. You can purchase guides that are made specifically for people looking to get a start in Facebook marketing. SimplySales sells guides such as the Facebook Marketing Excellence e-book for as low as $9.95. They claim to be able to help a beginner make big profits by teaching them the basics, such as how to find targeted groups, how to track what’s working and what’s not and how to actually start making profits, sometimes even within hours.

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