Intentionally Inspirational Founder Jason Wright believes that the Facebook group can be one of the best marketing tools around. He considers it one of the best ways to connect with your ideal customer.
It makes sense. When you create a Facebook group, you are creating a place where people with similar interests can go to interact with one another. Because these people know they are going to a place with people of similar interests, they are more likely to interact and participate with the group. They’re also more likely to recommend that group to their friends, who also have similar interests.
How Do Facebook Groups Benefit My Business?
A Facebook group is an ideal place for business owners to generate revenue.
Through this group, you have created a direct line of communication with a specific demographic. You can then cater your offerings and advertising to that demographic.
This is the opposite of many marketing methods, where you’re actively trying to draw customers to your business. A Facebook group is a collection of avid followers, which means you have already gathered your ideal community in one place.
They’re already there and listening; you just have to say “hello.”
How Do I Create a Facebook Group?
If you don’t have a Facebook group for your business, it’s time to create one.
Facebook has a tutorial here, and it’s a great place to get you started.
However, creating the group is just the first step. Just because you start the group does not mean it instantly becomes that collection of avid followers I described earlier.
You need to make it into your ideal marketing pool. For tips on doing that, check out this previous post on how to create a quality Facebook group.
How Do I Make Money From My Facebook Group?
Once you’ve cultivated and grown your Facebook group, it’s time to turn it into a revenue stream for your business.
Each business will find different ways to do this, but here are some common ways people have found to make money from the Facebook group.
Sell Your Products or Services
You have created a group because you found a need. More likely than not, you’re in the perfect place to fill that need.
Once in a while, it is okay to share your products or services with your group members. Don’t spam them, but don’t miss the opportunity to share something useful.
They have a problem, and you have the solution.
Create Products or Services for Group Members
Maybe the exclusivity of belonging to your Facebook group extends to receiving unique products and services that your company does not offer to people outside of the group.
Consider creating a product just for your group members to purchase or a unique package that takes into account the needs of this specific Facebook group.
By doing this, not only do you have the opportunity to tap into a revenue stream from your Facebook group, but you can also make your sales pitch seem more organic, and your Facebook group seem even more beneficial to its members.
Maybe you don’t have exactly what your customers need, but you know someone who does. Affiliate marketing is a great way to monetize your Facebook group while still controlling who you allow to connect with your group members.
Affiliate marketing is when you get a small royalty for every person that signs on with your affiliate. You control the marketing for that affiliate within the group.
Just remember, when you choose someone to team with as an affiliate marketer, choose wisely. Only affiliate with a brand or company that you would refer to your friends or family.
If you don’t trust this person or company with your loved ones, you shouldn’t trust them with your Facebook group.
Sponsorships are different from affiliate marketing in that they are not as much of a recommendation from you. In a sponsorship, you’re open about the fact that someone is paying for you to talk about their product or service. People know this person or business is paying you for advertising.
That does not mean you should use a different process for selecting sponsors than you do affiliate marketers. Choose sponsors that align with your brand’s way of thinking and shared interests. It will benefit you and your sponsor in the long run.
If your Facebook group offers an exceptional value to its members, consider creating a subscription system. Only admit people to the group that subscribe and remove people that don’t.
Subscriptions work best for people such as athletic trainers or coaches. These are people whose value comes with their knowledge, and it’s difficult to give out small pieces of that knowledge. By creating a subscription, you give people access to your wealth of knowledge.
Professional service providers such as business coaching or doctors will likely want to avoid subscriptions. Instead, the Facebook group can give people a small taste of the value you can bring them. If you offer good value, it will likely drive them to purchase later.
Note: Later this year, Facebook is expected to roll out a subgroups feature that will allow your group members to join a subgroup for a small fee. This is expected to become an even better way to monetize your Facebook group.
Before you jump into the advertising deep end with your Facebook group, a word of caution. You have created a community of people that interact with one another over a shared interest. Do not take this for granted.
If your group becomes too commercialized or too much of an advertisement, you may find your members going somewhere else.
Make sure you maintain what makes your group special above everything else.
Written by Erika Towne