Monetizing Facebook and iPhone applications are all the rave these days. This article breaks down and elaborates on the 5 possible sources for generating revenue through Facebook applications:
1. SELL. Develop applications solely for the purpose of selling them to interested parties.
2. DEVELOP. Develop applications under contract for third parties. A number of companies have been posting contract jobs over at the Facebook’s developer forums. There exists a large gap in the supply and demand of available Facebook application developers; as a result, finding potential clients to charge reasonable rates should not be a hassle.
3. ADVERTISING. Use advertisements, cross-promotion schemes and affiliate marketing.
4. MICROPAYMENTS. Sell services within Facebook through micro-payment transactions. PayPal payments made for accessing premium services could potentially yield reasonable income depending on the application’s purpose, size, and prospective users.
5. GET INVESTMENT. If you think you have something big on your hands and lack the funds to scale it, apply for investment through Bay Partners and others who have expressed interest in funding Facebook apps.