Social media sites like YouTube, Facebook and the various “wiki’s” are quickly becoming the hot growth sites of the moment. They’re attracting a large number of participants as well as large numbers of visitors. Until recently, most of these sites were commercial free -and therefore there was no good way to earn money from them except to use the content to generate backlinks and the like. Now that’s changed. Capitalism has once again proved its resilience!
You’ve seen the obvious “product placement” arrangements in the movies and, now, smart businesses are using a not-so-subtle form of product placement in social media sites. People are getting paid to produce sponsored social media content – e.g. including Coca Cola in their video clip, or getting paid for posting Diggs to Diggit.
There’s more to come. A lot more. For video clips alone, many providers are willing to pay for the development of the clips ($400-$2000 dollars in some cases) and others will pay handsomely to attach a small ad to the end of your clip and pay, not on pay-per-click, but pay-per-view. For photographs, companies like Scoopt and ScoopLive will buy your photos and give you a cut on resale revenue. Writing is being purchased just as hungrily. Advertisers will now, apparently, pay for blog postings, article writing or profile-associated product references.
What’s clear is that content is king and social media offers the biggest and broadest opportunities to attract visitors and attached advertising. Your ability to turn your social media contributions into money-earning propositions is only limited by the imagination!