SocialNetomics™ 50 Ways to Monetize Social Media Networks
As a Web Business Consultant and closet “Economist” working with Clients in the Social Media Networking Industry, I recently coined the term “SocialNetomics™”, that is short for “Social Networking Economics”, to describe the growing phenomenon of companies and individuals finding ways to monetize social media networks. Over the last few years, many of them have been busy aggressively building large social media networks, followings or links to “friends”, “connections”, “followers” or “tribes” on social media websites like Facebook, LinkedIn, Twitter, YouTube, Ecademy, Plaxo, MySpace and many other social media websites.
These visionary “Thought Leaders” and “Open Networkers” led the way in identifying the financial benefits of investing the time, energy and money into building these large Business to Business (B2B) or Business to Consumer (B2C) online and offline social media networks. Monetizing business networks thru referral marketing and word of mouth is not a new concept, companies for example like Business Networking Inc. (BNI), LeTip, eWomenNetwork, Country Clubs and many Chamber of Commerce leads groups have been doing so for years “offline”. Now many of these leading social networking companies and individuals plus new authors, coaches, consultants, radio and tv personalities, podcasters, speakers and trainers are jumping on the band wagon. They are turning their attention to implementing plans and strategies to capitalize on and monetize social media networks or build their own social networking websites.
So, in our “SocialNetomics™” book, eBook, blogs and articles we will explore this growing phenomenon of how to monetize social media networks and share dos, don’ts, best practices and other trends. We’ve asked the questions that you want to know the answers to that will help you achieve your own Social Media Optimization (SMO) goals. Download your copy of the FREE SocialNetomics eBook.
Please let us know if you have any questions regarding “SocialNetomics™” by contacting us at firstname.lastname@example.org.
By Dave Westfall
Author and Speaker