How to Make Money Using Social Networking Sites Like Facebook and Twitter

In my latest Financial Edge article for Investopedia, Make Money with Social Networking Sites, I talk about ways social networking sites like Facebook and Twitter can help you make money. You could try developing a Facebook application (which has been immensely profitable for the owners of Zynga), using Facebook marketplace, or gaining customer goodwill through Twitter, for example. Here are a couple of other options:

Advertise. Advertising on Facebook gets you access to 250 million active users. You can advertise your own website or a Facebook page, application, group, or event related to your company. Facebook offers advertisers two types of ads: pay per click and pay per impression, and you can set a maximum budget for how much you’re willing to spend per day. You can also choose to target your ads by information Facebook users have provided about themselves, including location, age, sex, educational background, and relationship status.

Promote your work. If you already promote yourself or earn income through blogging, expand your audience by using Facebook to automatically import your blog posts and display them in your news feed. Likewise, you can use Twitter to inform people of your recent accomplishments and post links to articles you’ve written, videos you’ve produced, websites you’ve designed, and so on. Twitter and Facebook are also great ways to let people know about an event your company is hosting or sponsoring.

For the rest of my ideas, read Make Money with Social Networking Sites.

Also be sure to check out Cheap Tweets: Follow-Worthy Deals on Twitter.

You can also follow me on Twitter.

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