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5 New Ways to Make Money on Facebook and Instagram

August 3, 2022 No Comments

Meta is rolling out new ways for creators to make money on Facebook and Instagram.

Content is king on social media, and all the platforms are in a sort of gold rush to ensure the supply of new content does not run dry. Every day, it seems, one platform or the other announces some new scheme or incentive for content creators to sign up to.

Not to be left behind, Meta has announced several new ways creators can monetize their content on Instagram and Facebook. Here are the details.

Meta Announces New Ways to Make Money on Instagram and Facebook

All social media platforms have one way or another of making money, and perhaps YouTube offers the most accessible ways to make money.

These monetization options are always being updated. Thus, Mark Zuckerberg has posted several new monetization tools Meta is rolling out for creators on Instagram and Facebook.

In addition, Meta’s blog confirms the company will not charge subscribers a fee on Subscriptions, Badges, Paid Online Events, and Bulletin for an additional year until January 1, 2024.

Clearly, Meta is going all out to attract and hold on to its best creators.

The New Monetization Tools on Instagram and Facebook

Meta has released five new ways for creators to make money on both Instagram and Facebook.

1. Interoperable Subscriptions

Facebook will now allow creators to automatically add their fans on other platforms to subscribers-only Facebook Groups. This allows them to receive payments from their fans on the other platforms, and save time by not having to manually let individual members into their Facebook Groups.

Facebook will launch the service with a limited group of partners before expanding.

2. Facebook Stars

Facebook Stars is now open to all creators. However, they must have at least 1000 followers since the preceding 60 days, be in a country where Stars are available, and meet Meta’s Partner Monetization Policies and Content Monetization Policies. This applies to Facebook Live, videos on-demand, and will soon be available on Facebook Reels.

3. Monetizing Reels

The Reels payment program was previously only available to creators on an invite-only basis. Now Facebook is allowing US-based creators to apply to join. However, they must have created more than five Reels and have a total of 100,000 views in the previous 30 days, and they must meet Meta’s Partner Monetization Policies and Content Monetization Policies to be eligible.

Facebook is also now allowing creators to cross-post Reels on both Instagram and Facebook and earn money on both platforms.

In addition, creators will shortly be able to use the “Paid Partnerships with” label for their branded content on Facebook Reels. This will allow sponsors to convert them to Branded Content Ads.

4. Creator Marketplace

Meta is following in TikTok’s and Snapchat’s footsteps by launching a Creator’s Marketplace on Instagram intended to match creators with suitable brands.

Creators will be able to indicate the brands and topics they’re interested in making branded content for. Brands will be able to find and collaborate with creators through the Meta Business Suite.

“When they’ve found a creator they want to partner with, they’ll be able to send a project that outlines the details of the opportunity, including deliverables and payment offered,” according to Meta.

5. Digital Collectibles

Instagram started allowing NFTs to be shared on its platform in May 2022. Now Meta will allow this feature to be available to more creators in select countries, and soon on Facebook as well (starting with a small group of US creators). Users will be able to cross-post on both Instagram and Facebook.

Instagram Stories will also start hosting NFTs, in partnership with SparkAR.

Creators Have the Upper Hand

In the old days, the content we consumed was determined by a few people at the top of a production company sitting around a boardroom table. These days, social media has shifted the power to independent creators who execute and deliver content directly to us, with no oversight.

The leading social media platforms have taken notice and are scrambling to find ways to lock in the best creators on their platforms in order to lock in our eyes as well. Clearly, it’s a good time to be a creator.

By Patrick Kariuki

Kariuki is a Nairobi based writer. His entire life has been spent trying to string together the perfect sentence. He is still trying. He has published extensively in Kenyan media and, for a hot 7 years or so, dived into the world of Public Relations where he discovered the corporate world is just like high school. He now writes again, focusing mainly on the magical internet. He also dabbles in the vibrant Kenyan start-up scene, AKA the Silicon Savannah, and occasionally advises small businesses and political actors on how to communicate better to their audiences. He runs a YouTube channel called Tipsy Writers, which attempts to get storytellers to tell their untold stories over a beer. When not working, Kariuki enjoys taking long walks, watching classic movies – especially old James Bond movies – and spotting aircraft. In an alternate universe, he would probably be a fighter pilot. More From Patrick Kariuki

Sourced from MUO

Meta To End Discriminatory Housing Ads in Midst of ‘Historic’ Lawsuit – How It Benefits Users

July 26, 2022 No Comments

By Yaёl Bizouati-Kennedy

The Justice Department’s Civil Rights Division announced it has entered into a settlement agreement resolving allegations that Meta Platforms, formerly known as Facebook, engaged in discriminatory advertising in violation of the Fair Housing Act. This is the department’s first case challenging discrimination under the FHA, and Meta has agreed to change its ad delivery system, the Justice Department said in a press release.

Among other things, the complaint filed on June 21 alleges that Meta uses algorithms in determining which Facebook users receive housing ads, and that those algorithms rely in part on characteristics protected under the FHA, including race, colour, religion, sex, disability, familial status and national origin. This is the department’s first case challenging algorithmic bias under the Fair Housing Act.

“When a company develops and deploys technology that deprives users of housing opportunities based in whole or in part on protected characteristics, it has violated the Fair Housing Act, just as when companies engage in discriminatory advertising using more traditional advertising methods,” U.S. Attorney Damian Williams said in the release. “Because of this ground-breaking lawsuit, Meta will – for the first time – change its ad delivery system to address algorithmic discrimination. But if Meta fails to demonstrate that it has sufficiently changed its delivery system to guard against algorithmic bias, this Office will proceed with the litigation.”

This settlement marks the first time that Meta will be subject to court oversight for its ad targeting and delivery system, the Department said.

Under the settlement, Meta has until Dec. 31 to stop using an advertising tool for housing ads (known as the “Special Ad Audience” tool) that, according to the department’s complaint, relies on a discriminatory algorithm. Meta also will develop a new system to address racial and other disparities caused by its use of personalization algorithms in its ad delivery system for housing ads. That system will be subject to Department of Justice approval and court oversight.

Meta must also pay the United States a civil penalty of $115,054, the maximum penalty available under the Fair Housing Act.

Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division called the settlement “historic.”

“The Justice Department is committed to holding Meta and other technology companies accountable when they abuse algorithms in ways that unlawfully harm marginalized communities,” she said.

In a statement to The Wall Street Journal, Meta said that it also plans to change its ads related to employment and credit in addition to housing.

“Discrimination in housing, employment and credit is a deep-rooted problem with a long history in the U.S., and we are committed to broadening opportunities for marginalized communities in these spaces and others,” Meta said in a statement posted on its website.

Feature Image Credit: Fritz Jorgensen / Getty Images

By Yaёl Bizouati-Kennedy

Yaël Bizouati-Kennedy is a full-time financial journalist and has written for several publications, including Dow Jones, The Financial Times Group, Bloomberg and Business Insider. She also worked as a vice president/senior content writer for major NYC-based financial companies, including New York Life and MSCI. Yaël is now freelancing and most recently, she co-authored the book “Blockchain for Medical Research: Accelerating Trust in Healthcare,” with Dr. Sean Manion. (CRC Press, April 2020) She holds two master’s degrees, including one in Journalism from New York University and one in Russian Studies from Université Toulouse-Jean Jaurès, France.

Sourced from GoBankingRates

Meta launches new tools to help small businesses communicate with customers

June 9, 2022 No Comments

By Anthony Spadafora

New tools make it easier to manage ads and messaging as well as generate leads.

To commemorate National Small Business Week, Meta has announced a number of new tools to help businesses manage conversations and ads as well as generate leads.

According to a new press release from the company, businesses have had a lot of success getting discovered by new customers and having conversations using Facebook and Instagram ads that open to a WhatsApp chat. In order to make it easier to create these kinds of ads, Meta will soon make it possible to create full ads directly from the WhatsApp Business app.

As businesses using the company’s Inbox are already managing customer messages across Facebook Messenger and Instagram Direct all in one place. Now though, Meta plans to bring WhatsApp to Inbox as well so that multiple people at an organization can manage messages in Inbox from the same WhatsApp number on multiple devices to help save time and boost productivity.

Meta is also testing a new capability in Meta Business Suite that will allow businesses to send promotional message campaigns using Messenger to customers who opt in.

Improved lead generation and customer acquisition

By using lead generation tools, SMBs can grow their customer base by finding new customers and initiating relationships with them which is why Meta is expanding end-to-end management of lead generation on its platform with several new features.

First off, the free product Quote request on Instagram will allow businesses to put a “Get Quote” button on their Instagram profile as well as use “Get Quote” stickers in Stories. With either option, businesses can set up custom questionnaires for customers to fill out before starting a conversation about a quote.

Businesses will also soon be able to pursue promising leads using lead filtering in Lead Ads Instant Forms. Customer responses to a multiple-choice question can then be used to filter leads that may not be a good fit for an organization.

Meta is also in the process of testing a more flexible and personalized Instant Form that allows businesses to add visuals and content in the form so that they can share more visual information about their company and nurture the interest of potential customers.

Finally, Meta Business Suite users can now download lead information directly to their own CRM to follow up with potential customers more quickly.

Feature Image Credit: Meta

By Anthony Spadafora

After getting his start at ITProPortal while living in South Korea, Anthony now writes about cybersecurity, web hosting, cloud services, VPNs and software for TechRadar Pro. In addition to writing the news, he also edits and uploads reviews and features and tests numerous VPNs from his home in Houston, Texas. Recently, Anthony has taken a closer look at standing desks, office chairs and all sorts of other work from home essentials. When not working, you can find him tinkering with PCs and game consoles, managing cables and upgrading his smart home.