Social Networking: How Membership Pays
Aside from 'business prospects' Cash is Also a Benefit
Online Social Networks are a rapidly growing phenomena and apparently becoming a network member 'pays' off. For some, connecting to and meeting with other members provides viable business contacts for both consumers and providers. There is also the added benefit of having access to others with similar interests, tastes and even informational needs.
According to an article in About.com, “Simon Rogers has uncovered over 1 million British pounds in potential revenues for his company 2Delta, a reseller specializing in project management software, as a result of his participation in Ecademy, an online networking site. After just four months in business, he has been introduced to more than 16 opportunities, each worth 75,000 pounds or more. He's already closed four deals, including one "nicely into six figures." For him, Ecademy is a significant business accelerator.”
As recently as 2003 the established tech media avowed that online social networking could not or would not be a viable income generating medium. Yet, as stated in the article, social networking forum “LinkedIn has topped 1 million users. Many more socially oriented sites crossed the million-member point a while ago, including Meetup, Friendster, and Tickle.”1 Further, although it appears that millions of people haven't been introduced to social networking it is quite clear that close to 70 million people have world wide! It is evident that there is both a desire/need for social networking venues AND an ever expanding business-to-business marketplace unfolding in the process.
Even in light of the current global financial downturn it is projected that advertising spending on social networking sites alone will reach $1.4 billion which is a decrease from the $1.6 billion spent in 2007.2 Not much of a decrease from my perspective! And the spending is expected to grow: "US online social network ad spending is now projected to reach $2.6 billion in 2012. In its last projection, made in December 2007, eMarketer estimated that spending would reach $2.7 billion in 2011 and is revised to be an expected $2.4 billion.”3 With the popularity and growth of MySpace, FaceBook, Ning and other social networks the development for incentives to join online social networks has arrived in the form of shared ad revenues for members!
Some of the fastest growing online communities whose members are benefiting from social networking ad revenues that I've found are listed below. Each has unique 'paying' benefits.
Yuwie
YouSayToo
Flixya
1. Yuwie states it pays in three ways: for accessing your account, making any changes or additions;, for others viewing your content and for referrals. The revenue sharing rate [payout] is determined by profits made from ad revenues the month before. Here is one member's 'paypal' payment statement: http://yuwiescam.com/proof1.html
2. YouSayToo states it pays for registration [joining], you must have your own Google AdSense account in order to receive a 20% ad revenue share, 10% for referrals and there is also a $50 sign-up bonus.
3. Flixya states it pays 100% ad revenue generated for pictures, blogs and video postings. It wasn't clear as to whether it pays 100% of ad revenue generated from the user's content or from the general income paid to Flixya.
According to a BBC article dated 12/21/2007, social networking site FaceBook is valued at roughly $15 billion.4 That income is generated largely from the delivery of the sites' estimated 50 million world wide members to businesses for marketing purposes.
All of us have a need to 'get away' from time to time and socialize in a relaxed and amicable setting. Quite of few of us are choosing to socialize more and more via the internet. While being an online entrepreneur requires a few hours of website review for stats on site traffic, sales and the like, those hours can be done in a window right next to one of your favorite social sites that PAYS you for sharing thoughts on your expertise, specials offered by your business or general musings as to what the latest antics of your pet cat are.
If you're spending any time online join a paying social network. Sharing photos of your garden is now something the world will pay you to see!
AND if you check back here tomorrow, I'll have links for you to 'click' on and join as one of MY friends!
YE is Here!
SOURCES:
Crossing The Social Network Chasm, About.Com
Social Networking Ad Spending Update, eMarketer
Social Networking Ad Spending Update, eMarketer
Should You Get Paid to FaceBook?, BBC News
YE is an author; electronics, computer & gadget geek; certified holistic health consultant; grandmother and devoted traveler that currently resides in Georgia. She can be contacted for interviews, consultations and general comments at either of her websites.
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