Monetizing your facebook groups after growing it to thousands of following with a highly engaged group community seems like an easy task until you have to do it and the positives are almost at a zero.
This is even especially even tougher for group owners who their initial idea was never to monetize their group. Some clients I worked with ran the risk of creating a Facebook Page from their group or yet following and page engagement didn’t measure up to their expectations.
There may never be a one size fits all but in my proffering solutions to such challenges, here are some of the things I have implemented to ensure that engagement and the page stayed original and turned such groups to a futile earning avenue for their owners.
Create an Event
You need to look at your passion and things that group members will be like-minded about to pay for while they gather together, get entertained, informed and have fun. Something as simple as a holiday trip to a historic venue, beach and more are usually is a big hit.
Buy and Sell
Open up your group for members to buy and sell. Ensure that users do not part away with their money to scammers, I will advise you to tread carefully here. Doing this more strategically would be having a day of the week or biweekly where products or services can be sold at a discounted rate to members. Such creates a sense of social responsibility and promotes the interest of group members, I mean who doesn’t like a good deal?
Create New Group or Facebook Groups Subscriptions
Let’s say you created a group that drives thought leadership on a particular field or niche, to monetize your group, you’ll have to create spin-off groups where you can teach people who want in-depth knowledge of your skills and tutoring, keeping it closed and private while charging a fee for it
Facebook groups subscriptions is a feature that was recently tested, it would allow page admins to create subscription-based groups in which they charge a fee to join. Subscription charges are projected to be about $4.99 to $29.99 per month.
You can market your group, also even via channels like Facebook advertising, charge a fee from SME’s, start-ups and anyone willing to advertise their products or service in your group but this would largely be dependent on your numbers. Also, you can market your affiliates links, if anyone clicks or make a purchase you are paid for it.
Become a Social Enterprise
Social enterprises are an important, new move in business and entrepreneurship. A social enterprise focuses its sole objective to maximize profits while maximizing benefits to society and the environment. Their profits are basically used to fund social programs.
In conclusion, when trying to monetize your Facebook group do not lose focus on what makes the community most engaged, people may seem put off you are driven by money. Care about the community, and like we say be user-centric.