With many small businesses being restricted in the ways they can make money, Facebook’s latest solution provides a creative way for creators to continue earning revenue online. On the 15th of August, Facebook paid online events was released to allow educators, media publishers, creators and business owners the opportunity to monetize their online events.
Small Business Recovery
Social distancing mandates have had negative impacts on those who rely on in-person measures to connect with their customers and reach new audiences. According to Bloomberg, Facebook live videos received a 50% increase in users over the course of one year. This increase in online socialisation triggered a quick response by Facebook to help small businesses recover from the pandemic’s effects.
Facebook Paid Online Events
Facebook paid online events combines marketing, payment and live video aspects to meet the end-to-end needs of recovering businesses. Pages can now host events on Facebook live to reach broader audiences. This is a great solution for those offering:
- Sporting matches
- Cooking classes
- Meet and greets
- Fitness classes
- And much more!
In countries where Facebook Pay is available, on the web and on Andriod, small businesses will keep 100% of their online events revenue for at least the next year. Unfortunately for IOS users, 30% of that cost will be absorbed by Apple Store Tax fees.
How to Register for Monetized Online Events
You can first check if your Page qualifies for Facebook’s Partner Monetization Policies by checking your status in Creator Studio. To enable paid online events, you can visit Facebook’s step-by-step process on how to enable a payment account on your Page.
How to Set Up a Paid Online Event
Once your page has completed its monetisation review, paid events can only be set up on a computer, so jump online and complete the following steps.
- Enter your Page on Facebook.
- Click the Events pill on the Page to create your event.
- Provide the required information for your event, making sure you select ‘Online Event’.
- Click ‘Enable Paid Access’.
- Choose your price.
- Add a co-host if required.
- Finalise your event options regarding post permissions, guest list visibility and messaging.
- And click create to complete your paid online event setup.
Once this process has been completed, as a business owner you can promote the event, collect payment and host the event all on Facebook.
Need Help Organising a Facebook Paid Online Event?
If you’re strapped for time, Studio Culture can help! Our team of social media marketing experts can set up your Facebook Page, organise your event and promote it to help you get the best possible outcome. For more information or a helping hand, please don’t hesitate to get in touch.