Social Media

How to use social media to make money

Internet is full of options to make money and social media helps immensely with this. According to a recent study, social media will help generate 3.7 socialnetworkmarketing1billion dollars by 2011. That’s a huge amount considering the fact that social media has not been there very long. Combining the benefits of networking and internet resources is what ddrives social media.

Social media can help generate revenues through its various components- blogs, networking sites, bookmaking and e-mail newsletters.

Social media helps build a very large customer base which is based on principles of trust as this is a very important factor in building businesses and thus generating revenues.

A social media package combining all its components can be employed or anything that caters to the needs of the enterprise that one chooses to operate in.

Creating a profile on social media networks like Face book helps build up on communities which may double up as potential customer base. Once a community with similar interests is generated interactive ads can be placed on profiles which will be viewed with every profile check.  Whatever is of interest to the community members does attract questions and answers and this is crucial to generating  revenues. Affiliate ads can be successfully linked with various applications to generate profits by online sale of products.

Another way of using social media is to display products on blogs. But this should be done in conjunction with the user’s behavior connected with the product and demographic of the targeted region. The success of a business is helped not only by a higher ranking on first page of Google and the other search engines but also by the correct way of using Social Bookmarking sites like Diggs which is the latest tool in creating money. To make money it is therefore  advisable to add Bookmarking script which helps users dig out their favorite pages from the websites and select which social media outlet the page adheres to. It will be good to gave Diggs and twitter updates on sites. This will help the customer see what is connected with the business.

Only if the business seems to be successful will the prospective customers like to invest in services and products. No one likes to put their money in businesses which looks like they are on the decline.

Live helps like customer care departments should be used effectively to make profits. Adding a live help tab often encourages customers to stop and access the products once the live help starts interacting with them. A good live help will help customers to be updated on usability of products and turn prospective customer’s leads into sales.

If a company wants to use promotion tools like videos and audio clips the best social media interface that works is You Tube. It is always easy for any individual to relate to a product initially visually then reading about its pros and cons. Having interactive videos help people understand all the intricate details relating to it as they view the video.

Social media launches (unlike the older way of press launches about a company’s profile) is more effective. The RSS feeds and social bookmarking sites help spread the word more efficiently. It is an excellentadd-on to public relations.

Though social media can be immensely instrumental in helping business to make money it should be incorporated with right strategy and intensive planning. For example a company dealing with  products appealing to the youth should have an active profile on networking site like My Space. Addressing to the needs of the customers is crucial as the very base of social media working is based on end users. Social media though may take some time in helping generate enormous profits but once the network is established the business will have to look no further to get sales.

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