How To Make Money With Facebook

[Hooman]

Hi everyone,

A little while ago I invited a select group of yE members to review my new guide, Make Money With Facebook, for free in exchange for their testimonial.

Now, to promote the guide, I have been writing excerpt articles that give a little preview of the guide, and also provide some great tips and insight. I'm posting these mini how-to guides on various sites. I wanted to post the link here and share it with you guys.

Here is the link to the first Koonji. Check it out:

How To Make Money With Facebook (koonji)

It includes 5 steps...

1. Setup Your Profile For Success
2. Profitable Privacy Settings
3. Become A Friend Magnet
4. Exploiting the Facebook Market
5. Key Money Sources

In the second Koonji guide, I will provide detailed steps for making money with Social Ads on the Facebook Ad Platform.

[rejoice]

killer ebook!

[alluwanted]

Hmm
I am not sure that works on Facebook.
The best way to make money is creating good applications that people use. If your application is good, thousands of users will add the same to their profile and the word spreads. This brings 'eyeballs' ( visitors) to your application and you may make some money.
And then, when there are lot of visitors, you may sell the application to some one else.

Social Networking sites are all about sharing fun as friends. I am not sure, if 'friends' would like to buy some thing from you. The moment they realize that you have become a friend to 'sell your products', 'friendship' will turn into 'buyer-seller relationship. Hence, be careful in exploiting friendship.

Anyway, you have a good idea. How much did you make on facebook. I feel that, of 1000 people you sell your secret, only 5 or 6 may be able to do some headway.

And I am sure, you would make some money by 'selling the secret' to 1000 people.

It shall not be as per the blog I posted -
Beware of consultants! - Young Entrepreneur Forums

Anyway, all the best

[zharlene]

Nice info there. I think both methods (network + application) would help get your site known.

[Hooman]

Hmm
I am not sure that works on Facebook.
The best way to make money is creating good applications that people use. If your application is good, thousands of users will add the same to their profile and the word spreads.

The only problem is that's a lot harder to do than you think.

1. Making an application requires very good programming skills, which most people (including myself), don't have. So that leaves someone like me with the option of hiring a programmer, which is pretty expensive.

2. Second, just getting an application installed by thousands of people is not so easy either. Most applications flop. And even if you get installed, there's no guarantee you'll have a lot of active users. Even the most popular programs on Facebook (Super Wall and Fun Wall) have less than 15% of their total installs as active users. Look at: Top Applications Leaderboard (Installs) | Adonomics

3. And the biggest gripe I have about applications is that you're putting all that money, time, and effort into a venture that's totally reliant on Facebook. Let's say you invest $5k into developing an application, it gets lots of installs and users, and then Facebook decides to put a halt on apps. Oops, there goes your venture. It's totally reliant on Facebook, which you have no say in. It's not like investing stock in a company, and at least having some say in who is elected, etc. With Facebook apps, you are at Facebook's mercy. And that's IF, you can get past the other hurdles.


The thing is, most people who keep spreading the Facebook application hype have never attempted to make one themselves.

Social Networking sites are all about sharing fun as friends. I am not sure, if 'friends' would like to buy some thing from you. The moment they realize that you have become a friend to 'sell your products', 'friendship' will turn into 'buyer-seller relationship. Hence, be careful in exploiting friendship.

That is true to an extent. I don't encourage selling things, as much as I talk about promoting sites, through which you can profit. There are also ways to profit (with Social Ads) that don't require a Facebook account at all.

But look at Myspace and what it's evolved into. I would venture to say the same sort of road is ahead for Facebook. Maybe not that bad of a spam fest, but it's just the beginning. Facebook is still growing, and they have no clue that people like me are exploiting it, because not enough people are doing it. The advantage with Facebook is most people are too naive to the fact at this point. People on Myspace already have their spam-shields up and see through you for trying to promote stuff to them. But on Facebook, people are waaay more gullible, especially if you know what to promote to them.

Anyway, you have a good idea. How much did you make on facebook. I feel that, of 1000 people you sell your secret, only 5 or 6 may be able to do some headway.

And I am sure, you would make some money by 'selling the secret' to 1000 people.

Oh, it's not a secret. I'm practically giving away most of it through free articles I post online. I won't brag about how much I make with it, or show screenshots or any of that. It varies, and I'd rather not tell everyone here just because I can't promise everyone will make the same.

You're right, not everyone will make it, and I've alluded to that myself both in the guide, and on my site. That's how everything is. Some people just don't want it badly enough, and other people are just lazy or too complacent. You do have to work hard. It's simple, but I'm not saying it's a piece of cake either.

True, I'll make money selling it, and that money will go towards my other entrepreneurial projects that I'm working on. Same with the money I've made so far on Facebook - it's all gone towards financing a business project that I've been working on. And so I figure with the sale of this guide, I can raise even more money.

Thanks for your comments, and if you'd like a free copy in exchange for a testimonial, let me know. I'm pretty open to that with yE members, at least in the first month or so of launching it.

[Hooman]

By the way, I just added another article on Squidoo. This one covers how I make money with Social Ads. I have everything laid out, step-by-step. Of course, not as detailed as in the actual guide, but it should still give you a nice overview of how to make a profit.

How To Make Money With Facebook

[allysa]

Squidoo is a great place to earn money too! Maybe you should write a "How To" for it.

[Hooman]

Squidoo is a great place to earn money too! Maybe you should write a "How To" for it.

Indeed. This was my first lens though, so it would be a while before I learn to make money with it.

Guess what, my Squidoo Lens now ranks #92 in the Search Engine Optimization/Affiliate Marketing category (that's out of 3,600)...and it ranks #2,494 out of all of Squidoo (out of 170,000). That's just in 3 days!

www. squidoo.com /makemoneywithfacebook

I'm psyched, so I had to bump this and post about it

[KollectionzDVM]

I just wanted to let you know that personally I think if you know how to make money this way then that alone is very awesome. I understand there are many recourses online to learn this method, and I mean to learn more than I already have. If you have the patience, and know how, or the will to want to learn everything you need to know for this, than apparently you can make real money this way. I have much respect for people like you, taking initiative to do something productive, and not just that but helping others in the process. I just wanted to say that I can appreciate people who really try to succeed...Later -Mark