I consider traffic, along with time, expertise and influence, to be a basic element of social media monetization.
Traffic is monetized by placing ads or sponsored content on blogs, social networking sites or other types of websites.
For years, I have resisted the idea of monetizing my traffic with commercial ads. To a large extent, I regard my blogs as professional work samples. My concern, therefore, has been the possibility that monetizing my blog traffic with ads might to some degree sully my image.
Last week, however, I accepted an invitation from Technorati Media to join their publisher network and placed their ad tags on my blogs and my business networking sites. I was ready for this change and happy to be getting started with a company I knew and trusted.
Of course, I’m not going to get rich from my social media traffic overnight, but ads give me another income stream that I can grow over time.
I invite you to connect and network with me on my new business sites:
- Small Business Networking – Networking and continuing education site for entrepreneurs and small businesses around the globe. Sign up there for free social media marketing training.
- NY Business Networking – Networking site with a local flavor for Greater New York Area business.
You don’t need your own business to participate.
In The 4 Elements of Social Media Monetization, I advised that you “take stock of your social media assets and monetize them with suitable products or services.”
Following my own advice, I recognized that my combined expertise, influence and traffic are nearly a perfect fit for marketing business networking sites, groups and events, something that I’ve in fact thought about in passing before.
While my other blog, Online Social Networking, dominates searches related to online networking, it also ranks very high in the search engines for business networking keyword phrases and therefore receives ample business networking traffic, as well.
Considering the business networking traffic potential of my blog, my social media marketing expertise and my increasing online influence, promoting business networking sites, groups and events on the Internet is a sensible way for me to leverage my web presence and the experience that came with building it.
Contact me to learn more about my new business networking marketing and branding service can help you.
Are you a web consultant or entrepreneur looking for ways you can monetize social media?
If you think about it, there are really only four social media assets that you can package and sell to customers:
- Time – Your time and the time of others. Virtual assistants primarily sell time coupled with a moderate level of expertise.
- Expertise – Your expertise and others’. I’m including valuable skills and special abilities here with expertise. Consultants sell expertise coupled with time.
- Influence – Your influence and others’. Having influence, you can move people to take action and sell endorsements to advertisers.
- Traffic – Your web traffic and others’. Sell it to advertisers or use it yourself.
All that you provide as a social media consultant or marketer aggregates these four elements in some way. Considering each an asset, the more of each you have, the more you’re worth and are able to offer your clients.
It follows that if you want to increase your business worth as a social media consultant or marketer, you must increase your inventory of the four basic elements:
- Time – You can sub-contract, work more or become more efficient.
- Expertise – You can research and learn more or build a team with diverse backgrounds.
- Influence – You can brand yourself more or collaborate through strategic alliances and joint ventures.
- Traffic – You can add content, increase your influence, refine your SEO, enhance your marketing or, once again, collaborate.
Work to increase your supply of the four basic elements with both short- and long-term objectives in mind. I’m working to increase all four but especially influence and traffic.
Take stock of your social media assets and monetize them with suitable products or services and, if you think you and I can collaborate, let’s talk.
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