Can you create paid Facebook groups to increase revenue for your business or brand? Yes, you can! Here’s what you need to know about monetizing Facebook groups!
What are Paid Facebook Groups?
A paid Facebook group is an exclusive community created by an entrepreneur or business for marketing purposes. People who want to enjoy the benefits of this group will have to pay a monthly or lifetime fee.
Why Create It
A business can’t thrive and grow without an engaged and active community. You need to build a relationship with your customers and you won’t be able to do that if you’re just aiming for one purchase per client.
Repurchases happen when customers are valued by businesses and the best way to do that is by creating an exclusive group for them. This is where paid Facebook groups come in hand.
If your target audience finds value in the product or service you offer, they won’t mind paying for a spot in your exclusive group. Influencers, coaches, and trainers create paid communities where loyal followers and clients get exclusive videos, content, and information.
With paid Facebook groups, you’re hitting two birds with one stone. You’re fostering community engagement and monetizing it at the same time.
In paid Facebook groups, you can:
- Share valuable content to your community members
- Give a venue for the members to engage with you and each other
- Only allow qualified people to join
- Moderate and control the activities within the group
Fan Subscription Group
Influencers with a significant following may be eligible for Facebook’s Fan Subscriptions earning option.
With it, fans can pay a monthly fee to support a social media star they follow. However, this monetization option is only available to Facebook and Instagram pages that fulfill a criteria and adhere to community guidelines. Read more about Fan Subscription guidelines here.
How To Create Paid Facebook Groups
Set Up Your Group
To set up a paid Facebook group, you’ll need to create one the usual way on the social media site. But first, come up with the group’s name, niche, and what you want to happen in your group.
Once you’ve got your group name, you can go ahead and set up it up.
- On your Home page, click on the + sign beside your name and profile picture on the upper right side.
- Choose “Group.”
- Add your title and choose “Private” as the group’s privacy.
- Click on “Create Group.”
- Once the Group is created, you can start editing the details in the sections indicated on the left side of the page.
When creating your group, you can also invite early adapters, partners, or your teammates.
Add Admission Questions
After creating your page, you can start adding the steps for admission. These are the steps a client or user should follow to gain access to the group.
- Create questions that people should answer if they want to join the group.
- Establish group rules.
Set Up a Payment Platform
After filling up what you need for the group, you can now set up your payment platform.
If you’d like to set up a subscription type, then you’ll need to sign up for a platform that allows for recurring payments.
There are four options you may want to try for recurring payments.
- PayPal – You can customize your plan with this option, including often you will charge your client for the subscription. Check out how to set up recurring payments for PayPal here.
- Stripe – This options supports any billing model and you can easily integrate it to your landing page. Learn more about Stripe Billing here.
- Square – Payments made through this channel will be transferred to your bank account in one to two business days. Know more about setting up payment plans with Square here.
- FastSpring – This option offers flexibility to easily shift clients from one-off payments to recurring billing. Understand how FastSpring works here.
Once you’ve decided and set up your payment platform, you can now create and integrate it to a landing page.
Make sure your landing page is easy to understand and has a clear call to action to subscribe to the paid group.
Creating Content for Your Paid Facebook Groups
Creating paid Facebook groups, doesn’t stop at inviting people to join. People will subscribe to your group if you can provide them with valuable content.
It’s important to plan out your content before marketing your paid Facebook groups in earnest. You should be able to give your subscribers the information they need as soon as they join the group.
Here are some of the content you can offer to those who paid to join:
- Live streams – Go live in the group for a more specialized time with your followers or subscribers. Your broadcast here should be a more specialized version of the public live shows on your page. Try going live right now!
- Exclusive videos – You can also prerecord videos for a course and publish them in the paid Facebook groups on a schedule. BeLive’s offline recording feature allows you to make videos and download them for repurposing.
- PDFs and files – Share exclusive files and documents to your clients in the paid Facebook groups. With the Live Sales Link feature, you can send a link to the files you want to share during your broadcast.
Facebook Page vs Groups
So when should you create a Facebook page or a group?
A Facebook page is your public profile. It’s like your digital calling card for people to easily find you online. It’s a place where you can acquire new clients and warm up a cold audience. Of course, you can share content here that targets people who might not be familiar with your business.
On the other hand, a group or a paid group is more private. Aside from the obvious difference of payment, subscribers also have direct access to you and your expertise in an exclusive group. This is the avenue to keep your warm audience toasty for your business’ continuous revenue.
Are you planning to create paid Facebook groups for your business? What are your roadblocks in opening one? Share your thoughts in the comments below!
If you have already created one, don’t forget to sign up with BeLive to start live streaming exclusive stuff to your loyal followers. Schedule your show now!