How do I make money from Social Media?

About the most commonly asked question on the net is how to make money,” how do I monetarise this great idea”?.

To my mind, it is the wrong question. The right one is “How do I deepen the relationship of those who are attracted by the great idea”?. When you have made the relationship worth having for the other party, it will become evident how to make money from it.

It is analogous to asking “Have you “monetarised” your telephone”? Answer: Probably not, because at least on the surface, you do not make money from it, the phone is a tool to communicate, but  remove the phone system in your business for an hour, and reconsider if it is monetarised or not.

Social media is no different, it simply a means of communication, so why the never-ending question about how to monetarise Social media? Answer:  Because most have not thought about it as a communication tool,  a means of connection, engagement, so they default to SM as a cash register.

 

 

 

About strategyaudit

StrategyAudit is a boutique strategy and marketing consultancy concentrating on the challenges of the medium sized manufacturing businesses that make up the backbone of our economy. The particular focus is on their strategic and marketing development. as well as the business and operational efficiency improvements necessary for day to day commercial survival. We not only give advice, we go down "into the weeds" to ensure and enable implementation.
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