5 Ways to Make Money with Facebook

Facebook now has over 620 million users. This presents a huge opportunity for entrepreneurs who learn how to leverage this massive social network to make more money. If you can make just one penny from every six Facebook users, you will make over a million dollars!

A study done last June by Syncapse appraised the value of a Facebook fan at $136.38 in additional value that each fan added in spend, recommendations, loyalty, etc. Although it is somewhat difficult to sell directly to Facebook fans, there are a variety of ways that they can interact with your page that can end up adding value and profit for you. Here are five ways that you can use your Facebook page to make more money.

1. Create a Custom Tab for Your Facebook Page With an Opt-In Offer

We all know that the money is in the list. This tip is used by John Chow himself. On the John Chow dot com Facebook page you can opt-in to his list and get a free copy of his book Make Money Online.

The easiest way to create a custom Facebook page is with the Static FBML app, but this app will only be available until March 11th, 2011! After that date all existing apps with Static FBML will be supported but all new apps will need to be installed using iframes.

Check out this video about how to Customize a Facebook Page with Static FBML if you want to create a custom Facebook tab.

2. Sell Stuff in the Facebook Marketplace

Facebook Marketplace is like ebay, but for Facebook. You can use Marketplace to buy, sell, and rent almost anything you own! According to the Facebook description of Marketplace:

Facebook Marketplace lets you sell, give away, buy, rent, ask, or search for anything you want. You can also support charities by selling for a cause. Marketplace makes it easy to see what your friends have posted and what is available in your area.

Using marketplace you can also search for jobs, and there are currently over 625,000 jobs listed!

3. Install Facebook Like Buttons into your Opt-in and Sales Pages

Installing a Facebook Like button into my opt-in page has enabled me to get literally hundreds of people to share list building offers. I am not sure how many new subscribers this strategy has gotten for me, but I am certain that it has not hurt the size of my list.

4. Post Often with Links to Your Website

Although there are apps like RSS Graffiti that automate posts from your RSS to your Facebook wall I like to post to my Facebook page manually so that I can optimize the image that I use and the description of my post as well.

By posting all content from your blog to your Facebook page you will send plenty of traffic to your site, which will get more people to sign up for your list, and get them interested in any products you might have to sell.

5. Engage on Your Page

Engaging is the key to getting a strong community of fans that will be much more likely to buy anything you have to sell. Brian Solis does this very well and responds to practically every comment he gets on his Facebook page, and he gets many comments every day. Gary Vaynerchuck is another web celebrity who is proof that prolific content, passion, and engagement are a formula for plenty of profit and success.

There you have it, five tips for making money with Facebook!

Garin Kilpatrick runs the blog at FacebookFlow.com and GarinKilpatrick.com