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WOW!   The response to my LinkedIn question about ways to monetize your social network has been huge.   Plus, I've received several emails just this week that also directly relate to this topic.  So, the answer to the question posed in my last SocialNetomics blog is: An unequivocal, YES, there are at least 50 Ways to Monetize Your Social Network!  

Some of the 50 ways are obvious and some are not so obvious and we're not going to get into the ethics of one way over another.  With "50 ways to monetize your online social network" to cover, let's break this into 5  top 10 list blogs.  Along the way we'll also be interviewing some of the Social Networkers who are monetizing their social networks using one or more of these 50 ways. 

Here is the first list of 10, in no particular order.  As you'll recall, we identified 8 ways to monetize your online social network in our last blog.  So, here they are again, but this time without the bad rhymes, then we'll add a couple more of the more obvious ones to the list:

1. Making a paid speech
2. Networking to get a new job
3. Writing a book about social networking
4. Teaching a social networking training class
5. Running Google's Adsense Ads on a Private Social Network
6. Joining Affiliate programs and referring your connections to earn commissions
7. Building a private social network and charging membership or subscription fees
8. Charging fees (of various kinds) for helping social networkers grow their connections
9. Recruiters use social networks to find and place candidates and earn search or placement fees
10. Investors (e.g. Angels, Venture Capitalists) use social networks to increase deal flow and by closing deals.

Here's a bonus one:  This week someone was "selling their social networking account" connections and all, for $10.

Please share your thoughts or questions on ways to monetize your online social network by leaving a comment here or by sending a private email. 

Dave Westfall is a Business Coach, Internet Marketing Consultant, Speaker and Trainer who provides solid advice and proven solutions that work.  For more information or to follow or connect please visit Dave online . 

All the best,

Dave Westfall, MBA
email:  davewestfall@dewpointe.com

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Categories: SocialNetomics