How to Make Money with Facebook Ads

How to Make Money from Facebook Apps

The app industry has really exploded over the past couple of years, and is making big money. In the past if you wanted to get in on the lucractive app business you would have needed to be well versed in the relevant programming language to be able to write the code for your application, but now anyone can get in on it as an entrepreneur and make good money from it without needing to have any kind of technical knowledge or skills whatsoever.
There are two major platforms which really dominate this market - Facebook and the iPhone, both of which have a truly enourmous market for new applications. Since I have already written a hub about how to make iphone apps and make money from them, I thought it was about time I wrote another hubpage focussing on facebook instead.
There are two routes which anyone can take to make money from facebook apps which I know of, so take a look at both and then decide which route suits you best - have a go at both!

Make Your Own Facebook Apps

There are many tools available in the market which anyone can use to easily create gift apps for facebook. If you looking for custom facebook application you need to search for Facebook developer or a company offering facebook application development services. There ia real focus on helping you to make money from your creations and each one has 4 potential income streams an they also provide plenty of info on how to maximize the money you make to how to use them to drive traffic to your websites (or hubpages!) if you prefer. Its a great little tool and the only drawback is the limited range of things that you can create with it Plenty of revenue potential though.

How are Facebook Applications making Money?

Facebook Applications are great online assets. Many facebook apps generate literally millions of dollars every year for their owners. A Facebook application in itself is a business.

Here are the 3 possible ways that FB apps make money:

01) Advertising

You can display advertisements on your FB application. However, Visitors on Social Networking websites are ad blind. That being said, they still have tons of users (say for Example … thousands) and will still generate good amounts of money every month.

FB Apps are not compatible with Google AdSense. Although, there are lot of third parties out there that offer you the same service like AdSense and you can apply their code on your FB Applications and make money.

02) By Selling Virtual Goods

Virtual Goods are the main source of making money. Just look at FooPets – A Facebook application about virtual pets. You can buy virtual pets from this App. and not only that … but you can buy virtual food for real money for your pet.

You can also sell Virtual Valentine Roses and Chocolates. People love to consume virtual goods. People will never stop consuming virtual goods and you will never stop making money.

03) By selling FB Applications

Here is where the real money is, technically speaking. This is about selling your asset for huge profits. It’s like selling your business for tons of money. Many Investors are willing to pay $ 10-100 for every unique user of your application. Many FB Apps are worth literally millions of Dollars.

Steps

1. 1
   Decide how much, and how quickly you want to make the money. There are literally thousands of ways of how to make money with Facebook. Some businesses have their own product lines and they simply utilize Facebook to expose these products to their friends and their friends. Some guys use Facebook to market other people's products. The latter is the way that most individuals do it, from home earning six figure plus incomes, in a period of months.
2. 2
   Consider using companies that provide you with specific products and websites to market. They also provide training and support on how to use Facebook to market your websites.
3. 3
   Find a market. In this case the market would be Facebook friends. The more Facebook friends you have, the more chances you have of making more money. What if you don't have many Facebook friends? Fortunately it's very easy to create a massive market (friends for Facebook) simply by searching and inviting others to be your friend. But, if you want to take it to the next level and automate the finding and adding friends process, there are some software that can do just that.
4. 4
   Show ads on Facebook. With all the Facebook applications that make it easy and a snap to start showing ads on your Facebook, there is no excuse for not taking advantage of this method, especially if you are popular amongst your Facebook friends, and have a big audience to show your ads to. Using AdSense, chitika and other PPC advertising companies you can easily setup your ads and customize it to your liking. Make sure to set it somehow that it serves ads related to product and services that you know your Facebook audience is interested in.
5. 5
   Use affiliate marketing on Facebook. It's the same idea as showing ads, but in a more direct way. Register for free with affiliate networking sites such as ClickBank, Maxbounty, etc., and pick a product relevant to your Facebook audience interest to promote. You will be provided a simple code which is a link with your affiliate id embedded in it. Whenever someone clicks on that link and buys the product or service, you make money by getting a commission.
6. 6
   Create an entirely new Facebook for that product and start promoting it there. You can sell multiple products and create multiple accounts for each one. Write short posts about the product and post it on your Facebook with your affiliate link in it. You can make a couple of hundred dollars a month doing this. I know it's not much, but for something that doesn't cost you a dime and takes about 30 minutes to set up, and takes about 20 minutes or so a day to run, I don't think it's a bad deal.
7. 7
   Write a Facebook book How To. Facebook is attracting more and more members every day. And lets face it, not all of these people are Facebook savvy. And even though getting started with Facebook might be simple and quick for some, many people have problem with the basic things. Write a small and to the point e-book about Facebook and how to use it. Maybe a simple step by step instruction for getting started with Facebook. Or an e-book about how to use different application to make Facebook experience a better one. There are many possibilities. With the huge amount of Facebook apps and all the new ones that are added daily, this can be quite big. You don't even have to pay to promote your e-book, simply use your own Facebook or better yet create one for your e-book and start promoting it.
8. 8
   Blog about Facebook. There are already some people doing it. But there is always room for new voices. Get a free blog over at blogger and use Google AdSense (which is already integrated in blogger, so even if you don't know how to show ads on your blog, you can set it up with couple clicks) to show ads on your blog and make money that way.
9. 9
   Get sponsorship. When you have established yourself as an authority and a trusted person for anything related to Facebook, you can get some sponsor and maybe use affiliate networking sites to find and promote Facebook related product.
10. 10
    Create and sell a Facebook application. If you are savvy enough and know your way around, why not use your skills to make a Facebook app of your own and sell it to Facebook users? Again, once you made it, you can use the same strategies mentioned above (blog or a Facebook page for the app) to promote your app.
11. 11
    
    
    
    There you have it, 5 ideas you can use to make money not only on Facebook, but you can also apply the same ideas to MySpace, Twitter and other social networking platforms to make money.