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The networking capability and popularity of social networking sites like Facebook and Twitter have made them the darlings of the business world. The ability to reach consumers quickly and cheaply is attractive to entrepreneurs, marketers, advertisers, salesmen and promoters. Not only are the sites themselves are valued in the billions, the opportunity they represent to the everyday person is potentially lucrative. The following list is 5 such ways that Facebook and Twitter can make you money:

1. Affiliate Marketing
As the name implies, affiliate marketing is the act of referring a shopper to a product online and earning a portion of the sale. In essence, the job is similar to a salesperson working solely on commission. Having a strong following on Facebook or Twitter allows you to quickly send out a product link to a large client base with a simple tweet or status update. Anyone interested can repost or retweet this update, greatly expanding the reach of your client base through word of mouth.

2. Viral Marketing
Viral marketing campaigns are a way to generate interest in a product through a creative and unique video, picture, game or text message. The idea is not to market the product itself but rather to make something so interesting that it will go viral, circumnavigating the web as people pass it on to friends and internet communities. As two of the largest websites on the internet, Facebook and Twitter are the ideal mechanisms for initiating such a campaign.

3. Facebook Income Apps
A number of Facebook applications work in partnership with traditional merchant sites such as eBay and Cafe Press. However, utilizing the Facebook platform links your products directly with your followers, and allows them to do the same with their friends. In addition to merchant apps, sites like The Lending Club provide peer to peer loan services in lieu of traditional banks. Facebook and Twitter streamline these services by pooling together sellers and buyers.

4. Mobile Apps
Rather than rely on third party apps to generate income, you can also earn substantial funds by generating your own mobile apps that work in concert Facebook or Twitter page. Social media has become an integral part of daily life, and developing a product that takes advantage of it is crucial. Some programs like Twitterrific, Echofon and Friendcaster are even designed to help your apps work better on Twitter and Facebook.

5. Develop a Global Client Base
The most obvious reason why Facebook and Twitter are coveted by business is also the most powerful. The sheer ability to market and sell products to a global audience is essential for new businesses and entrepreneurs. However, this does not mean that putting your product online means everyone will be exposed to it. Marketing requires you to put your product in a place where everyone can see it. Fortunately, Twitter and Facebook provide easy market analysis via trending topics and keywords.

With Twitter, you can deliver your marketing blurb to thousands of people simply by latching on to a trending hashtag. If your tweet is creative enough, it will spread virally across the web. However, a more efficient marketing strategy is to search for popular hashtags that are relevant to your business, and then post with a tweet using the same hashtag. This way, your advertisement is delivered to people who are in need of that service, rather than relying on brute force.

 

About the guest author: Jane Colbert writes for PublicLiabilityInsurance.org covering a wide range of business topic including public liability insurance for mobile hairdressers.

This is an original article published on SEO Desk with exclusivity.

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