Simply put, Facebook Groups are basic online communities where people gather to discuss, share ideas, and participate in group events around a shared interest or brand. While Facebook Pages are more static and don’t allow for community discussion and interaction. For instance, a typical branded Facebook Page allows posts from the page owner, with visitors able to like, share, or comment on the posts. They can also follow the page for news updates.
Facebook Groups can be versatile and act as a forum as well as an information board and while Facebook Groups may seem more convenient there are still a lot of barriers to overcome to monetize them. In order to monetize a group you must have an established social following. Anyone that knows anything about building a following on social media knows that is no easy task.
The fastest way to monetize and start making sales is to build consumer trust and provide value. Remember, to monetize your group successfully, you must be willing to invest the time it takes to build an audience.
It’s important to showcase why you are an authority on whatever you are selling. Why should people purchase what you’re offering? By sharing your knowledge through your social content consistently via Facebook, Instagram, etc. and potentially displaying it on a website as well, people will begin to trust you as an authority in your niche.
By providing things like product reviews from consumers potential consumers are hearing from actual people that have found value in what you offer.
If you are selling goods and services, create a site that is easy to navigate and keep the checkout process as simple as you can. It’s important to get your potential customer from product introduction to payment confirmation in as few steps as possible. There are several ways you can create a website. You can use platforms like Squarespace, Wix, GoDaddy, etc. to build a site quickly. Platforms like those are the common choice among people that don’t have a lot of experience with websites or have a small budget. Your other option would be to hire a web developer to build a more robust website to your specifications.
You might be thinking “But wait, I don’t have any products to sell!” Products can also be a paid membership area of your site filled with educational resources of your area of expertise; this could include articles, videos, files, etc. Offering and monetizing virtual courses, mastermind programs, group coaching and 1:1 coaching using platforms like Volley is a great way for you and others to communicate asynchronously.
One on one coaching is a great way to monetize your expertise and experience. Some people are not comfortable sharing things in a group setting and personalized coaching is a way to remedy that. It could also be a good option in certain industries if there is sensitive information being shared. While 1:1 coaching is a fantastic option it is difficult to do this via Facebook Groups because there is no privacy within your group space. A major perk on Volley is that you can have your public channels in a space but also have private DMs for 1:1 coaching.
Once you have taken the time to build your following and grow your group you can start seeking sponsorship opportunities, or in some cases sponsors may seek you out if their brand aligns with your offering or following. Sponsorships are a mutually beneficial partnership that comes with monetary incentive and/or additional exposure via social media, newsletters, etc.
Group coaching starts with building your following of like minded individuals with a common goal. Whether it’s health and fitness or learning the ropes to your first real estate deal a group setting can be a lucrative option. One of the challenges of operating a group like this via Facebook is that it is difficult to communicate conversationally beyond text comments in a thread. If streaming live you are talking AT people and trying to keep up with comments instead of engaging in a meaningful back and forth. Utilizing an app like Volley allows you to converse via video, voice, text, and more asynchronously making scheduling and juggling time zones a thing of the past.
Offering pre-recorded sessions to your members is a great way to showcase your expertise and authority on a subject but organizing that into a Facebook Group can be challenging. Many people opt for alternative platforms like Volley to organize their course into a channel or library for viewing and allow for meaningful video, voice, and text conversation to thread off of the course. Other platforms like Kajabi allow for you to house pre recorded courses as well but lack the ability for real engagement in discussion due to their basic commenting feature.
The goal of eBooks is to simplify and improve the overall learning experience. It can make learning more engaging and interactive instead of listening to one person continuously talk. Some people include worksheets or additional discussion points that align with the contents of the eBook.
With many professionals venturing out on their own to start consulting businesses, Facebook Groups can be a great way to get everyone in one place. However, the drawback of this is that many times when someone hires a consultant or mentor they are looking for a more personalized approach which can be difficult in an all group setting. While collecting everyone in one place is great, Volley takes it a step further and allows for collaboration and networking in the channels of your space and the necessary privacy in the DMs.
Are you good at reviewing or promoting products? If so, affiliate marketing may be a smart way to earn passive income. Affiliate programs are often as simple as sharing links via your website and social media. When assessing what affiliate programs might be a fit for you it is important to make sure it also aligns with your followers and their interests.
With affiliate links, you earn a commission when your reader purchases the services or products you have promoted. It's said that affiliate marketing is an easy way to earn a passive income if your website has a somewhat active user base that believes what you say. Interested in learning about Volley's Partner Program?
There's no question that earning money from your Facebook group can be an exciting idea. However, to do this, you need to plan, strategize and be prepared to dedicate a lot of time and consistency to building your social foundation before you start seeing results.
One of the great things about Volley is that it provides a unique opportunity for you to build your coaching, mastermind, or mentorship program all in one place. You can host your program asynchronously and also capture payment all in one platform. No need for coordinating schedules, synchronous calls, emails, texts, zoom meetings, etc. Communicate via video, voice, text, and more all on Volley.
If you’re reading this then you have already established that you have a profitable niche that you think you can serve, or you have already built an online community, now is the time to consider how to monetize your group or following on Volley. You have the ability and the power to cater to niche audiences and monetize those passions.
Josh Little started his career as a teacher then moved into sales training and education roles at three Fortune 500 companies before making the leap into entrepreneurship. Over the last 15 years, Josh built four successful tech companies (Maestro, Bloomfire, Qzzr, and Volley) that have improved the lives of hundreds of millions of people and been able to consult with some of the top brands in the world. He has a firm believe that a great conversation can change your life and with Volley he's making them easier to have anywhere, anytime.