Copyblogger published an interesting article several years ago, making the argument that blogs are indeed social media, despite the fact that people tend to put them in a category all on their own these days. In fact, blogs are one of the oldest forms of social media that dominated the web long before we were friending and following everyone on social networks.
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:
If you use social media you need to engage with your customers, involve them in a dialogue, and ask them for their opinions. Post a picture of two items you are considering carrying in your store and ask customers which one they like best. This creates a dialogue which leads to shared posts which leads to engaged followers. Plus, if you follow this example, it will also lead to enhanced margins because your back and forth conversation will prevent you from buying the item that won't sell as well.
For businesses, the shift in web consumerism and accompanying rise in social media brings both opportunity and responsibility. The sheer amount of data that customers make available through social media alone has web marketers jumping for joy. The real magic, however, lies in the opportunity to grow lasting and scalable relationships with your organization's customer base through social media. This is also where your online responsibility to your customers begins to take shape. Just as your customers' behavior has shifted, so have their expectations for yours. Whether your business is listening and engaging or not, customers are having conversations relevant to your operations. It's better to be part of the conversation, right? We sure think so!
Relationships flourish when you cultivate them, and no other area offers you the opportunity to do this as well as social media. Social channels have broken down the walls between individuals at an unprecedented rate. In 2011, Facebook released data showing that its users were, on average, 3.74 degrees of separation away from one another, making them nearly as connected to each other as Kevin Bacon is to the rest of Hollywood. In the years since that study, the network has only continued to grow. That's pretty amazing, and social media can take credit for making it happen.
Bo Han, a social media researcher at Texas A&M University-Commerce, finds that users are likely to experience the "social media burnout" issue. Ambivalence, emotional exhaustion, and depersonalization are usually the main symptoms if a user experiences social media burnout. Ambivalence refers to a user's confusion about the benefits she can get from using a social media site. Emotional exhaustion refers to the stress a user has when using a social media site. Depersonalization refers to the emotional detachment from a social media site a user experiences. The three burnout factors can all negatively influence the user's social media continuance. This study provides an instrument to measure the burnout a user can experience, when her social media "friends" are generating an overwhelming amount of useless information (e.g., "what I had for dinner", "where I am now").
If anything, social media is probably about to move more toward ephemeral sharing for quicker, more intimate sharing without the stress of having to blast something out to hundreds or thousands of followers that stays up there unless it's manually deleted. The pressure of garnering tons of likes and comments on regular social media posts also plays a huge factor, suggesting that more casual forms of social sharing, such as through stories, could be the way of the future.
Social media are interactive computer-mediated technologies that facilitate the creation and sharing of information, ideas, career interests and other forms of expression via virtual communities and networks. The variety of stand-alone and built-in social media services currently available introduces challenges of definition; however, there are some common features: