How to Make Money from a Social Networking Site

in Social Networking Business

So you've decided to create your own social networking website, but friends are curious about how you plan on earning a crust with this endeavor. Don't fret! There are a handful of options available to generate an income as your establish your footing in the matchmaking realm.

Generate money through affiliate marketing.

You can join as a partner or an affiliate of various businesses, and allow your social networking website to showcase banners and ads of affiliate links. This "quid pro quo" liaison earns you money whenever an affiliate receives site traffic from a visitor off your social networking site.

There are several payment schemes available for affiliate marketing. Weigh each option carefully, and try to select an affiliate geared towards your niche. You're more likely to draw in visitors by linking likeminded sites.

- Pay-Per-Impression (or "CPM"): CPM offers payment any time an advertiser's banner or ad is displayed on your site. Earnings are based on the rate of advert impressions, which just means you are paid in accordance to the amount of times an ad is displayed on your site.

- Pay-Per-Click: PPC is a method that provides revenue whenever a visitor clicks on the ad displayed on your site.

- Pay-Per-Sale/Lead: This is the least popular payment scheme, as you only earn revenue based on the sales of an advertiser's product, or a legitimate course of action akin to membership enrollment.

Where to find affiliate rings? This website caters to specific niche interests and payment schemes.
affiliateseeking.com

Google AdSense is another great way to earn by hosting Google advertisements, and often a preferred method for first-time ad hosting.

Charge membership enrollment fees.
Many social networking websites earn revenue by charging a membership fee to access their features. Consider offering a free, two-week trial before implementing this charge. Allow users to get a feel for the website's matchmaking potential before reinforcing payment.

Charge for upgrades
Consider tacking on premium or upgrade charges for additional features. If your social networking website is free to sign-up, offer bonus options like webcam chat or profile-personality matches to incur an extra fee.

Gift Credit Options
Some websites utilize credit options to purchase "gifts" when pursuing a specific user. Be creative and institute these gift purchasing options for various occasions: birthday wishes, holiday greetings or secret admirers to let someone special know that you're interested.

With above tips, you can be assured that you can make money from your own social network!

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Tags: social networking business, social networking money, revenue, monetize

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