In the early days of social marketing, there was little competition for the dollar—not so today. For example, you can spend thousands of dollars on a Facebook ad campaign and, sometimes, get no return on your investment. By its very nature, social media is a short attention span media—it is much harder to get someone's attention with a Tweet then it was to get someone's attention with a newspaper ad. That's because ad headlines and copy are harder to write on Twitter or Instagram.  
Social media refers to websites and applications that are designed to allow people to share content quickly, efficiently, and in real-time. Most people define social media as apps on their smartphone or tablet, but the truth is, this communication tool started with computers. This misconception stems from the fact that most social media users access their tools via apps. 

Getty Images Spotted: Hilarious actress and social media maven Blake Lively expertly referencing her CW roots on Instagram. — Kayleigh Roberts, Marie Claire, "Blake Lively Just Pulled a Total 'Gossip Girl' in Her Latest Instagram Post," 9 Dec. 2018 From Christmas cards and cookie decorating to matching pajamas and tree trimming, there are so many moments to share on social media. — Kelly O'sullivan, Country Living, "70+ Christmas Captions for Every Holiday Picture You Post on Instagram," 7 Dec. 2018 Red-carpet dressing is just one aspect of how Carolina Herrera now communicates with potential customers—social media presence is also growing as e-commerce becomes more important. — Chloe Malle, WSJ, "How Designer Wes Gordon is Reimagining Carolina Herrera for the Next Generation," 6 Dec. 2018 The complaint provided a clear picture that there is still a hidden but powerful Russian social media effort aimed at spreading distrust for American political candidates and causing divisions on social issues such as immigration and gun control. — Michael Balsamo, The Seattle Times, "House GOP campaign arm targeted by ‘unknown entity’ in 2018," 4 Dec. 2018 Stay informed Follow anti-hunger advocacy organizations, such as @APATTusa and @mazonusa, on social media. — Sandy M. Fernandez, Woman's Day, "How Three Women Are Pioneering to End Hunger in the U.S.," 14 Nov. 2018 The brand is spreading the artist's mantra with an #ArtIsForEverbody social media campaign. — Lauren Alexis Fisher, Harper's BAZAAR, "Alice + Olivia Turned Keith Haring’s Iconic ‘80s Art Into a Wearable Collection," 7 Nov. 2018 Police departments are already scanning crowds and protests to find and arrest people with outstanding warrants by cross referencing footage with social media profiles. — Diana Budds, Curbed, "Facial recognition is becoming one of the 21st century’s biggest public space issues," 19 Oct. 2018 Since breaking onto the pop culture scene in 2013, model Emily Ratajkowski has made a name for herself as a proud feminist, social media superstar, and actor, racking up film credits in films like Gone Girl and I Feel Pretty. — Hannah Morrill, Allure, "Emily Ratajkowski's Best Beauty Looks of All Time," 11 Oct. 2018
This is probably the most direct way to make money off social media. You utilize your (hopefully sizable) list of followers by selling to companies the rights to promote their products or services as a post on your social media account. Check out this site to learn more. The chances of making a lot of money this way is high if your number of followers is in the six figures, but rather low if you have less than a thousand followers.
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.

If you have a product or service of your own that you’d like to promote, you can use social media to generate sales. First, you can share links to your product and a description on your social platforms. One of my friends on Facebook started her own rustic D.I.Y. furniture and home decor business and always posts images of all the products she creates on her page which helps promote her business and bring in new customers.
Observers have noted a range of positive and negative impacts of social media use. Social media can help to improve an individual's sense of connectedness with real or online communities, and can be an effective communication (or marketing) tool for corporations, entrepreneurs, nonprofit organizations, advocacy groups, political parties, and governments. At the same time, concerns have been raised about possible links between heavy social media use and depression, and even the issues of cyberbullying, online harassment and "trolling". Currently, about half of young adults have been cyberbullied, and of those, 20% said that they have been cyberbullied regularly.[7] Another survey in the U.S. applied the Precaution Process Adoption Model to cyberbullying on Facebook among 7th grade students. According to this study, 69% of 7th grade students claim to have experienced cyberbullying, and they also said that it was worse than face-to-face bullying.[8] Both the bully and the victim are negatively affected, and the intensity, duration, and frequency of bullying are the three aspects that increase the negative effects on both of them.[9]
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