How to Monetize Social Media
Here’s a quick look at Inc.’s report on how companies are making money through social media networks.
Build Brand Awareness
The first step is to use traditional media or word-of-mouth advertising to drive awareness and traffic to your Twitter, Facebook, YouTube, Linkedin or Myspace pages, says Jamie Turner, author of How to Make Money with Social Media.
Engage Your Audience
Social media is about having a dialogue. When you have a dialogue with a customer or prospect, the communication is much more fulfilling and much more profitable.
Offer Special Promotions
Dell Computers is a prime example of a company selling products over Social Media. Dell offers exclusive coupon deals to it’s social media followers and then tracks the offers to rate their effectiveness.