How to Monetize Facebook - By: Mike Nicholson

While it may appear to be an overwhelming task to make money using social media marketing, following are some examples of how to successfully create and monetize a facebook strategy. Of course, in addition to making money, your Facebook social media strategy is a powerful tool to generate awareness of your product or service.

One of the more successful examples of a company monetizing Facebook is Burger King. In short their facebook strategy was that they asked users to sacrifice 10 friends to earn a free Whopper. This brought people into the restaurant and because most folks ordered fries and drinks with their free Whoppers, the company profited greatly from this social media strategy. In fact, this facebook strategy was so successful that Facebook promptly shut it down.

Dunkin Donuts uses a similar social media strategy where it sends coupons to its fan base, which encourages Facebook users to come to the restaurant. Provided you can upsell a customer once they are in your store or restaurant, offering discounted or even free product to reward a desired Facebook user behavior is an effective method of bringing your customers to you.

Another successful social media strategy to monetize Facebook is to create an e-commerce application to sell your product within Facebook itself; users generally do not like to leave Facebook once they are there. For example, Pizza Hut’s facebook strategy was an application they developed to allow users to order pizza to be delivered to them, directly from their Facebook account. If you can sell your product directly on Facebook using an application, your social media strategy will be much more successful than if you ask your users to leave and go to your website to place an order.

Lastly, another highly effective tool to monetize Facebook is the targeted advertising functionality. This is a great social media strategy that allows you to show your ad to your specific audience. With ads relevant to the people viewing them, this facebook strategy can generate real demand for your product or service. Facebook’s tools allow you to see exactly who is viewing and who is clicking on your ads, so be sure to regularly measure your progress, analyze which are the more successful ads, and make modifications as necessary to maximize your results.

AlterSeekers is a brand promotions agency in New York focusing on promotions consulting and planning, web strategy, social media marketing (including Facebook strategy), go to market strategy, and overall strategic planning.

About the Author

AlterSeekers is a brand promotions agency in New York focusing on promotions consulting and planning, social media New York, social media strategy New York, social media marketing (including facebook strategy New York)and overall strategic planning.

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