I know a company that used to spend $30,000 per month in advertising on Facebook, and to "conserve," they cut back to half of that. This is not an unusual spend on Facebook, where roughly $10 BILLION per year is spent on advertising.
Imagine if Facebook allowed you to refer businesses to advertise, and that they'd then PAY YOU 10% of whatever that business spent. If you'd referred this particular business to them, you'd be earning $1500 per month. Every month. For that one referral.
While there's no exact answer on how much a business should put into advertising, general estimates are 5-10% of their revenue. So a company doing $1 million in annual sales should spend between $50,000 and $100,000 a year in ads. If they spent half of that on Facebook, that would be $25,000 to $50,000 per year.
And if you were paid 10% of that for referring them, you'd be earning $2500 to $5000 per year from that one referral.
Refer a company doing $10 million in sales and putting half their ads onto Facebook, that would be $25,000 to $50,000 in annual referral revenue. Think about that.
Why do I bring this up if Facebook doesn't have a referral program?
Because there's another social media platform that DOES have a 10% referral program. And because of censorship, Facebook is shooting itself in the foot by forcing people onto other platforms.
Webtalk (free to join) is building itself into an all-in-one social media platform that is NOT censoring free speech the way Twitter, Facebook, and Google / YouTube are doing. (They don't allow adult material or obviously illegal material.) It is designed for both business and personal use, as it allows you to determine what is seen by the public and the people you're connected to. (Post different things to friends, to family, to business associates, etc.)
You can likewise sort your feed by the people you're connected to, search topics. search for posts with images or videos, etc. It has a built in CRM to better organize your relationships. And it plans to roll out many other features like groups, articles, e-commerce, and much more, including an ad platform like those found on Facebook and Google.
And yes, they have a 10% referral program that not only pays you for every business you refer who eventually advertises, but also for all the activity of the individual users you refer. (Webtalk is free to join, free to use, and free to refer.) You're paid for their activity (with money generated by viewing ads), by those who upgrade to Pro accounts (like what they have on LinkedIn), by those who sell products and services through a central marketplace, etc.
I don't anticipate this being a big money maker right away -- they need to build a large, active community of everyday users like Facebook has. But this is exactly why they offer a generous referral program. For those who can think long-term, inviting people now and engaging them with good content will help to build a foundation for future revenue like I've described above.
Get the users today, businesses will follow. And they will NOT be difficult to refer. They clamor for Google and Facebook because where there is data, there is advertising.
Webtalk should come out of beta in 2021, but is already a well-developed social media website. It has everything people need to build a profile, connect with others, post to feeds, discover content, and much more. It is ready for the traffic, with businesses to follow.
So how about it? $1500/month for one referral? Facebook's proven this is more than possible. There are some businesses spending $100,000 per month and more on Facebook. You can forget about those referral programs that require you to have 10,000 people on several levels before you're earning a lot of money. With something like this, you could have just a handful of referrals generating you a full-time income. But it means taking action now.
Again, Webtalk is free to join, use, and share. So what's holding you back? :)
I'm an author and professional writer / marketer with an interest in gathering teams of those who want to learn, grow progressive businesses, have fun, and make a difference.