Larry BraunerAre 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:

  1. Time – Your time and the time of others. Virtual assistants primarily sell time coupled with a moderate level of expertise.
  2. Expertise – Your expertise and others’. I’m including valuable skills and special abilities here with expertise. Consultants sell expertise coupled with time.
  3. Influence – Your influence and others’. Having influence, you can move people to take action and sell endorsements to advertisers.
  4. 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:

  1. Time – You can sub-contract, work more or become more efficient.
  2. Expertise – You can research and learn more or build a team with diverse backgrounds.
  3. Influence – You can brand yourself more or collaborate through strategic alliances and joint ventures.
  4. 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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Comments

4 Responses to “The 4 Elements of Social Media Monetization”

  1. Jack Goldenberg on July 3rd, 2010 7:59 am

    I am continually impressed at how intricately and completely you explain online social marketing. Your posts are deceptively (in a good way) simple, yet there is great depth and knowledge in every blog you post.

  2. Dawn on July 4th, 2010 9:34 am

    Social Media Marketing is so simple – yet so hard. Thank you for breaking it down.

    @dawntrenee

  3. Larry Brauner on July 4th, 2010 10:11 am

    Thank you Jack and Dawn. I strive not only to break topics down, but also to share my approach and way of thinking with readers.

  4. Monetizing My Social Media Traffic with Commercial Ads on August 26th, 2010 10:44 pm

    [...] I consider traffic, along with time, expertise and influence, to be a basic element of social media monetization. [...]

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