How to monetize social media?

[Michael Zeuthen]

The best way to monetize social media in general and for your business is to have conversations with consumers and tools to back them up. These tools have to be ones that generate revenue for your company. What kind of tools are these? Simple.

1. Shopping cart on and off social networks, so your customers can buy from your business profile, virtual exhibit hall or application.
2. Viral and WOM features so your products, services, conversations can be spread easily through the social web.
3. A Product Flow Widget for e-mails and blogs.
4. c2b connections so customers can keep up-to-date with news, coupons and company updates.
5. Internal communication for employees and management.
6. b2b connections and communications.

Use social media to attract users to your business profile, application or virtual exhibit hall and start a conversation.

Does this make sense? Join the New Order of Business for free at www.businessthree0.com - The Social Business Network

[Brittani Hoeks]

what does WOM stand for?

[Michael Zeuthen]

Word-of-mouth. Facebook and MySpace allow for easy WOM ads.

[David Libby]

All social media marketers should join the http://www.womma.org (word of mouth marketing organization...)

David