Facebook groups are a great way to connect with like-minded people and promote your business on the social media platform. It is a great digital marketing strategy that can reach a ton of targeted people and all you really need is a Facebook page. It doesn’t require any money and it’s probably the easiest way to get a new, online business off the ground quickly. In this blog post, we’ll explore whether or not Facebook groups can be profitable for business owners and what is the quickest way to explode your business’ revenues. So let’s answer the question: Do Facebook groups make money? Spoiler alert: the answer may surprise you!
Before we address the main question at hand, we need to explain the ways a FB group can be used for business and promotion. There are 2 main avenues to promote your business through Facebook groups and the strategies for each look very different.
WAY #1- Start your own Facebook group
This is by far the best way to have your Facebook groups make money. It is also the most time-consuming when done properly. In this scenario, you create a target audience of Facebook users in your niche or industry and invite people to join. Once they’re in the group, you can start promoting your products or services to them all while adding an incredible amount of value. No one wants to just be sold to. People find this annoying and it’s not an effective way to promote your business. So you must start by warming up your group with a ton of valuable content in order to gain their trust. Ultimately, trust equals buying power.
The advantage of this strategy is that you have full control over what is being posted and promoted in your group. Facebook has certain settings that allow Admins of the group to manage the rules they set. We will go into further detail on how to actually set up Facebook groups in a later blog, but just know that you will have a lot more control if you set up and build your own Facebook group.
WAY #2- Answer questions and add value to an already existing Facebook group
This way is a much faster way to get yourself recognized as an expert in your field and have facebook groups make money for you. There are really good strategies out there that can teach you how to engage with a member of the group but the general rule we live by here at Mannina Strategies is to come from a place of help and service. If you are genuinely fixing people’s pain points, it is a no-brainer that will trust what you have to say and there will be a natural bond in place. This bond builds trust. Trust builds followers, followers build businesses. Let us know in the comments if you would like an in-depth strategy to tackle engagement in Facebook groups. We would gladly explain our top tips.
This concept might sound overly simplistic but you might want to try it. Put in the work, add value, and see the results. Most people want some quick and easy templated approach but that can only get you so far. The element of personalization online is lost by so many business owners. They don’t treat their online prospects the same as their outside sales prospects and this is where they fail! They should be dealt with in the exact way- with care, consideration, and a massive level of integrity. First and foremost, as a business owner, you should be coming from a place of service and managing your customer’s pain points. This is the foundation of a successful business. If this is your foundation, you need to uphold these same values whether you are face to face with a potential client or behind a computer screen. Again, we really encourage you to try it out for yourself and see what the results are.
Now for why you are really here- Do Facebook groups make money?
This answer is simple but holds a caveat- YES, Facebook groups make you money. The caveat is that it’s not as simple as just joining or creating a Facebook group and money just magically appears. It takes time, consistency, and a genuine understanding of what you are talking about in order to monetize Facebook groups.
We have clients that actually carve out 1-2 hours every day answering questions in Facebook groups. It’s a time commitment but they have seen their efforts pay their business back tenfold. One client actually tripled his monthly revenue in under 60 days following our Facebook group strategy! This is not to say that everyone we work with will have the same results. It really depends on the energy you put into it. If you are consistent, choose the right groups to join (this is extremely important) and give incredible value- you will see guaranteed results. PRO TIP* You can also use this strategy for LinkedIn!
How can Facebook groups make money?
Now that we have figured out that Facebook groups make you money, you might also ask HOW do they make you money? Facebook groups can be monetized in several different ways. You have to ask yourself, what is your end goal? Is it to sell an online course you have created? Do you have an online storefront that needs customers? Are you looking at doing affiliate marketing and wondering how you can share your affiliate link? Or do you sell professional services like bookkeeping or financial services and are looking to increase your client roster? These are all questions you need to ask and your strategy will be different depending on what answers you come up with. Services vs products are very different approaches so knowing what you are selling is crucial to your overall strategy.
Monetization comes when you generate enough goodwill with the group members you are engaging with on Facebook. They might friend request you, private message you, join your Facebook group or email list, visit your website, check out your YouTube channel, etc. The goal for monetization is to have the person you are engaging with becoming a part of your tribe. How does this happen? One word….. VALUE! They need to feel like you have just given them something no one else has. There needs to be a level of trust because the internet can be a dark place full of scammers and charlatans. No one wants to get caught in a scam or lose money and time chasing something that doesn’t work. Make sure when you engage with anyone in a group, you go into specific detail on how they can fix their problem. There is nothing more annoying than asking a question and someone answering “click here and all your questions will be answered”. You must provide the value FIRST because the person on the other end of the computer doesn’t know you or your skills. Don’t be stingy with your answers either. Come from a place of service and willingness to help. Your bank account will thank you for it!
What is the monetary difference between a public group and a private group?
There can be a real monetary difference between which group you decide to create. The main difference is that a private group is by invite only and a public group is open to anyone. This means that anyone who has a Facebook account can see and be a part of a public group. There is no “right way” to decide which group to open but here are a few things to consider:
Public Groups
These tend to be a large group with a lot of people trying to push their products and services. From what we’ve seen happen with these public groups is the group owner tends to get overwhelmed by the amount of engagement within the group and it’s hard to control the quality and behavior of everyone involved. There is also not an approval process before a group member can post so this allows for a very open forum that can sometimes lead to trouble. Another downfall to these open groups is that people feel less likely to engage in a personal way. It is all public so whatever you post is out there for everyone to see. So although you might be able to have a larger group, it can also be a harder way to build a community of the right people.
There are some pros to having a public group as well. They can’t be hidden so it is much easier to gain group members quickly and grow to a large Facebook group in not much time at all! It is a great option to quickly become one of Facebook’s most popular groups.
Private Groups:
Private groups are typically smaller groups that have a specific topic that they generally cover. It is much easier to niche down and really have one main focus in the group. Private groups have a vetting process detailed by the admins for new members in order to be approved. Sometimes the admins put rules in place and you must agree on certain terms before you are allowed in. Other requirements might be questions they ask before approval to make sure you aren’t a bot or you are someone who knows the topic they focus on. Sometimes admins also put parameters around the age of your Facebook profile to make sure they aren’t just having people spam the group with many different accounts. All of these are to control the activity around the group. The rules are put in place to make sure the group is kind, respectful, non-salesy, etc.
Private groups are an excellent way to sell high-ticket items, build an email list, create a targeted sales funnel, a business marketing channel, sell your own products, create subscription features to gain a monthly fee from all members, feature exclusive content, go live to showcase a new product or service lines, and so much more.
When creating a Facebook group, what are some things to consider?
Some things to consider when creating a Facebook group include:
-What is the end goal of the group?
-What is the target market for the group?
-Who will be running and moderating the group?
-Will there be rules for the group?
-Is there a fee to join the group?
-How often will the group be updated/changed?
Creating a Facebook group can be a great way to market your products and services with people who have a common interest, but it’s also important to plan out the details before starting one. Having a clear goal and target market will help make sure the group is successful, and having rules and moderators in place will help keep things running smoothly. It’s also important to keep the group updated regularly, so members know what’s going on. Make sure you are active daily in your groups as a moderator. If you cannot dedicate the time to it, it won’t show you the return!