Great question. And it’s one that keep popping up over and over again.

The short answer is yes – it’s VERY possible to make money using social networking and Web 2.0 tactics. Both MaryPat and myself are doing it and we can show you how.

In fact, there are a number of ways you can make money from social networking and Web 2.0:

• Traffic. Most of these ways will lead to more traffic to your site one way or another. Some of that traffic is from direct links to your site, some of it is because you show up more in the search engines and some of it is because people will find you somewhere and decide they want to learn more about you and go to your site.

• Prospects or customers. Your prospects will read your articles, profile, comments, or maybe they’ll see your videos or hear your podcast, etc. and they’ll seek you out to become your customer.

• Referrals. In this case, someone find you, becomes a friend or fan, and refers other people to you.

• Joint venture or strategic partners. Many people are looking for experts to interview for their teleclasses or shows, or speakers for their events or for products to promote, etc. Again, many of these people will find you using social networking means.

• Sell products or services. You have to be careful how you do, but it’s also possible to promote yourself using social networking tactics. This truly is an art and if you don’t do it right, you can do quite a bit of damage to your reputation and your business.

That said, it is also possible to spend a lot of time and energy on this and make little to no money. The key is to know what’s the best use of your time, what can be outsourced and what you should never do.

Last 5 posts by Michele Pariza Wacek

• What the Packers’ Losing Season Teaches You About Winning In Your Business - December 29th, 2008
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This entry was posted on Friday, September 26th, 2008 at 2:34 pm and is filed under Web 2.0, Social Networking. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.