In June, Meta announced it would soon be increasing ways for people to make money on Facebook and Instagram. What is more, Meta will be opening monetization opportunities to even more Creators as well as allowing for cross-platform posting and monetization. Also included in the new Meta features are subscriber-only Facebook groups for Creators’ paying subscribers. Additionally, a new DM organization tool will allow Creators to filter through legitimate brand partnership requests more easily. In addition to rolling out new features, Meta is also keeping certain features, such as paid online events, subscriptions and badges, free of charge for Creators until 2024.
The news of these new features comes as many other social media platforms are also continuing to support what is known as the “Creator Economy;” an environment where individual creators can earn money on social media from their content. TikTok has Tips, Twitter has the Tip Jar and several platforms allow for Creators to set up paid subscriptions. Social media companies know what users want and the race to offer the most, and best, ways to monetize content is on.
Mark Zuckerberg, the CEO of Meta said, “We’re heading toward a future where more people can do creative work they enjoy, and I want platforms like ours to play a role in making that happen.” In keeping with this vision, Facebook and Instagram Reels have a “bonus” program that pays people for their content. What was once an invite-only opportunity will expand to include all Creators based in the United States to now apply. However, there is specific criteria to be admitted to the program. For example, one element of eligibility is that the Creator must have created at least five Reels and have a total of 10,000 views in the last 30-day period. Once you’re in, you will get paid by Meta once a month for certain content.
Creators and business accounts posting original, non-branded content, are eligible. You must be at least 18 years old and live in the United States. Meta is in the process of changing this invite-only program to be open for all who qualify to apply. If you haven’t received a pop-up invitation to apply, you may still be eligible with these changes. Here’s how to see if you can apply yet.
First, in your Professional Dashboard, scroll down and look for “Bonuses.” If you see it, press “Get Started.” Set-up is done through the app in a few quick steps. First, you must accept the terms of the program before doing anything else. Then, you will verify certain information, set-up a payout method and then activate the Bonuses.
You create content and Instagram pays! Well, it’s almost that simple. The Bonuses program isn’t for the casual Creator and it’s not available for private accounts. Once you are in the program, you can publish a maximum of 150 reels in a 30-day period to be eligible for the payout. In order to get paid, the content has to perform, so while you are definitely thinking about quantity, you must also think about quality too.
Not every Reel posted is automatically going to earn Bonuses. You will need to select “Reels Play Bonus” from the Bonuses page before posting the video. Then, you wait for 30 days to see how many plays the Reel received. Once you have earned a minimum of $100, you will get a payout. Payouts occur once a month.
Yes, the concept of Bonuses and the promise of it becoming available to you is very exciting! Once you dive into that world, don’t forget about the other powerful monetization tools that are also available to you. If you have something more than your creative content to sell, you’ll want to know about Sellit. Sellit is a mobile-friendly landing page offered by PLANOLY that can be quickly set up to help you sell anything, anywhere.
For some, they can earn enough money from their social media content to make it a full-time paying “job.” If that’s your goal, treat it as such. To be successful with monetizing your content on social media, you’ll want to start with a plan and end with analysis. Think about what will entertain and inform your audience before you press record. Then, at the end of each month, evaluate which content yielded the highest pay and which flopped. Then, adjust your content strategy and plan accordingly. There has never been a better time to make something great and get paid for it. We’ll be watching for you!