How to Use Facebook Paid Events
Lockdown has seen many businesses struggle, particularly those whose incomes relied on face-to-face events. Thankfully, in classic Facebook style, its newest feature is perfectly timed and placed to help businesses regain some of that lost income. Introducing… Paid Events!
What are Facebook Paid Events?
Facebook Paid Events are a new way of monetising your live online events. Through a one-off access charge which is collected when guests register to attend, organisations and businesses can host their events through Facebook and make money. And with more than 2 billion active users, it goes without saying that the potential reach of events hosted on the platform is significantly greater than has ever been available before.
What’s the catch?
Well, in terms of Facebook Paid Events as a feature, there isn’t really a catch. The social media platform has pledged not to profit itself from the initiative for at least the next year (as of August 2020), meaning organisers will keep 100% of the money generated. However, note that any payments made through Apple’s in-app payment system will be subjected to a 30% tax to the tech giant - something which Apple has recently come under fire for after refusing to waive the fee.
Which businesses will benefit?
If you’re a business who has ever profited from paid events before, then Facebook’s new feature presents a huge opportunity for you. During a time of economic downturn in the country, it’s also likely to help new businesses get started and begin thriving online, as well as accelerate the digitalization of a range of industries such as health and fitness and the education sector.
Am I eligible?
The question is whether or not your business is eligible for paid events on Facebook. Your business’ Page will need to comply with a range of criteria which you can check here. Your Page must also be in a region where paid online events are currently available, and you can find a full list of those countries here.
How do I access and use the feature?
Enabling an admission fee (i.e. switching on the ‘paid’ option) for your online events is done through the event setup process. This requires you to sign Facebook’s terms of service and have a payment account on file. To get started with the event setup:
Click on the notification that you received from Facebook or follow this link
Select the Page you’d like to use for your paid online event and begin the setup process
Review and accept Facebook’s terms and conditions
Set up a payment account if you haven’t already
Once you’ve completed these steps, your Page may undergo a review process to ensure that it passes their required Partner Monetisation Policies.
How can I reach customers to sell my paid event tickets?
If your Page is a little on the smaller side with more limited customer reach, there are things you can do to reach new customers. One of the features that makes Facebook so unique and powerful as a platform is its powerful advertising tools, which allow you to target specific demographics and then drive revenue by advertising tickets for your Facebook Paid Events.
More on Facebook…
