Whether you choose to promote your products, services, or talent, leveraging the power of social media can help you take your business to the next level. That is with the right plan and strategy, of course. That is why at this year’s Entrepreneurs Summit, experts will be sharing tips and advice to help business owners and entrepreneurs monetize their online presence.
Another survey conducted (in 2015) by Pew Internet Research shows that the Internet users among American adults who uses at least one social networking site has increased from 10% to 76% since 2005. Pew Internet Research illustrates furthermore that it nowadays is no real gender difference among Americans when it comes to social media usage. Women were even more active on social media a couple of years ago, however today's numbers point at women: 68%, and men: 62%.[43] In the United States, a 2018 survey reported that 88 percent of people 18-29 years old have at least one social media account[44]. Over 60% of 13 to 17-year-olds have at least one profile on social media, with many spending more than two hours per day on social networking sites.[45] According to Nielsen, Internet users continue to spend more time on social media sites than on any other type of site. At the same time, the total time spent on social media sites in the U.S. across PCs as well as on mobile devices increased by 99 percent to 121 billion minutes in July 2012, compared to 66 billion minutes in July 2011.[46] For content contributors, the benefits of participating in social media have gone beyond simply social sharing to building a reputation and bringing in career opportunities and monetary income.[47]
Still, refuseniks such as Johnson may not be outliers for ever. In a world in which everyone is online, renouncing social media is a renegade, countercultural move: as quietly punk as shaving your head or fastening your clothes with safety-pins. Morgan has become a svengali for classmates wanting to escape. “My friends come to me and say: ‘Tyreke, I don’t have social media any more,’ and I go: ‘Why? I thought that’s what you guys do.’ And they say: ‘Thanks to you, because of the things you said and the stuff you’re doing.’ It’s quite cool.”

In addition to monetizing their influence and social networks, influencers can monetize their personal skills, whether it be photography, copywriting, creative direction, strategic consulting, styling or content creation. Influencers are typically business-savvy creatives who have used their skills to create a personal brand that ultimately drives revenue. So, brands often work with influencers by hiring them as freelancers. After all, influencers are professional content creators. 
There are a number of ways to make money on social media: You can promote your own products or services, you can become an affiliate of other companies or you can set up a YouTube channel that comes with paid advertising. All of these strategies have the potential to become lucrative, but only if you are able to build a substantial following. You won't be able to raise any significant funds from your personal Twitter or YouTube account if you only have 10 followers. So how do you build a large social media following? According to Yahoo, to ensure social media money-making success, do the following:

Pinterest is a perfect platform for selling products. As a virtual pin-board, the social media service is commonly used by potential customers to “pin” items of interest that they might buy later. If you created a product or are in charge of marketing one, throw some photos of it on Pinterest to shine a spotlight on it. Look at great examples of companies that utilize Pinterest to its fullest potential like TODAY, Whole Foods Market and the Travel Channel here. If you can land a freelance job doing something similar you can hit it pretty big, but you probably need the right experience to be in the running. However, small businesses also want to promote on Pinterest, and they’re more likely to hire based on enthusiasm and a go-getter attitude, so maybe start making some cold calls and emails.


Research has also shown that social media use may not have an effect on polarization at all [128]. A U.S. national survey of 1,032 participants conducted by Lee et. al found that participants who used social media were more likely to be exposed to a diverse number of people and amount of opinion than those who did not, although using social media was not correlated with a change in political polarization for these participants [128].

The commercial development of social media has been criticized as the actions of consumers in these settings has become increasingly value-creating, for example when consumers contribute to the marketing and branding of specific products by posting positive reviews. As such, value-creating activities also increase the value of a specific product, which could, according to the marketing professors Bernad Cova and Daniele Dalli, lead to what they refer to as "double exploitation".[186] Companies are getting consumers to create content for the companies' websites for which the consumers are not paid.
For individuals, social media is used to keep in touch with friends and extended family, network for career opportunities, find people from all over the globe who share a common interest, share content and more. Those who engage in these activities are part of a virtual social network. For businesses, social media is an indispensable tool for finding and engaging with customers, sales, advertising and promotion, gauging trends and offering customer service. Governments and politicians utilize social media to engage with constituents and voters.
Do you have a great sense of style? Are your friends always enquiring where you purchased your latest pair of heels from? Why not make a business out of your hobby? Create a business account on Instagram and start posting beautiful pictures of your latest purchases. You can buy fashion items in bulk and sell them online and earn big bucks by doing what you love.
On April 10, 2018, in a hearing held in response to revelations of data harvesting by Cambridge Analytica, Mark Zuckerberg, the Facebook chief executive, faced questions from senators on a variety of issues, from privacy to the company’s business model and the company's mishandling of data. This was Mr. Zuckerberg’s first appearance before Congress, prompted by the revelation that Cambridge Analytica, a political consulting firm linked to the Trump campaign, harvested the data of an estimated 87 million Facebook users to psychologically profile voters during the 2016 election. Zuckerburg was pressed to account for how third-party partners could take data without users’ knowledge. Lawmakers grilled the 33-year-old executive on the proliferation of so-called fake news on Facebook, Russian interference during the 2016 presidential election and censorship of conservative media.[177]
Youtube is better than periscope, it’s much more user friendly, also it’s been around for much longer. I know other people are coming along trying to create a better YouTube, but in my opinion that just won’t happen. YouTube was created in 2005, and from then it’s exploded into our lives. It has over a billion users and almost a third of people who use the Internet each day. So I don’t understand what’s the point in using websites like YouTube, when you have YouTube. Everyone I know uses YouTube once a week at least, think about a billion other people using it once a week at least. The amount of people using it and the amount of views videos will get would be incredible. My point is stick to YouTube.
A really comprehensive list and interesting read. It will be interesting to see how this digital landscape evolves, particularly for businesses operating online. I think the rise of messenging apps, such as FB messenger, and the use of bots to automate conversations with prospects and customers is adding a new dimension to digital marketing and will be an area to keenly watch, study and explore, over the next 12 months.

You might be thinking that limiting your posts to 140 characters is no way to advertise your business, but you will be shocked to know that this social media platform has more than 320 million active monthly users who make use of the 140 character limit to pass on information. Businesses can use Twitter to interact with prospective clients, answer questions, release latest news and at the same time use the targeted ads with specific audiences. Twitter was founded on March 21, 2006, and has its headquarters in San Francisco, California.
The idea that social media are defined simply by their ability to bring people together has been seen as too broad, as this would suggest that fundamentally different technologies like the telegraph and telephone are also social media.[18] The terminology is unclear, with some early researchers referring to social media as social networks or social networking services in the mid 2000s.[4] A more recent paper from 2015[2] reviewed the prominent literature in the area and identified four common features unique to then-current social media services:
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