How to Make Money by Owning a Social Networking Website

A huge question that many people ask is, "How do I make money from owning a social networking site?"

There are many different ways to make money by owning an Social Networking site.

List Building: Social networking site owners have a different list because the people on their list actually tell you what they do, what they like, and what they want... Your list that is built is one of the most valuable lists that you will ever build. Although the average value of a user varies from site to site, a user can be valued from $10 - $15...

As the owner of a social networking site you can broadcast a message to your entire user base. You just need to make sure when doing this that it is something that would be of interest to your market. In doing this you can recommend related products (or your own products) and use affiliate links to make commissions. ClickBank, CommissionJunction and Linkshare are great places to become an affiliate.

Correct advertising on your users pages will also make you money. You can use Google AdSense which will help target the ads based on the content that is on the page. You can advertise your own products or affiliate products on your users pages as well which will generate a significant amount of money once your user base begins to grow. Another option is to allow your users to advertise on your site for a nominal fee.

Now there are many other different monetization methods that you can implement in your social networking website that will help you make money by owning a social networking site such as:

Shared Calendar posts where you can recommend products and services to gain a sale or commission.
Important news features - where you can recommend products and services to gain a sale or commission. Affiliate links in discussion board posts. List building monetization strategies. Private paid membership offers in your site. Product launches in related industry where you are already considered an expert by being the owner of the related social networking site.

There are tons more ways to make money from owning a social networking site however this article would start to get a little long.

A great thing about making money by using a social networking website is the fact that your users are the ones who create content and interaction, leaving it pretty hands off at your end.

Marc Horne runs many social networking sites. Most notably SchoolBridge.
He has developed a platform called http://www.snempire.com which enables anyone, regardless of technical competency, to run and profit from a social networking site.

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