How to cash in on your social media accounts

11:21 AM, Jul 26, 2012   |    comments
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GOLDEN VALLEY, Minn. -- With the rise of social media networks like Facebook and Twitter, and the explosion of personal blogs on the internet, this new media growth has created fortunes for both their innovators and to a select group of inside investors.

However, this rapid growth in technology has also created a unique opportunity for the savviest users to take advantage of these networks to monetize their involvement in the online world of social media.

Today, Ryan Schram from IZEA.com dropped by the show to tell us about the rising use of social media and how everyday people can monetize from their social media accounts.

Here are a few of Ryan's tips:

1. Be Social: Leading advertisers evaluate top blogs by the quality of the conversation, industry relevance and level of reader engagement and comments. Raw traffic and number of followers were number four on the list. Effective users of social media engage with their blog readers and twitter followers. A blog or twitter feed with few updates or limited audience engagement has reduced monetary value. 

2. Be Transparent: The FTC mandates that all social media publishers mention to their readers that they're being paid to test a product or share feedback about a service. When selecting a social media sponsorship network, consider those that insert the disclosure automatically.

3. Avoid the 24/7 Infomercial: A blog or twitter feed with too much sponsored content will alienate followers and provide little value to advertisers. Instead, the twitter ratio should be a minimum of 20:1 personal tweets to one sponsored tweet. For bloggers, this ratio may be slightly lower. 

4. Be Realistic: The average social media user thinks his or her post is worth TWICE what advertisers believe.

For more tips on how to monetize your posts, visit izea.com.

(Copyright 2012 KARE. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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