In his post David Beisel covers potential methods for Social Media Monetization; a very good summary.
I personally believe that monetizing from social software is a very hard thing to do; everyone loves social networking, but few wants to pay for it.
Below are David’s potential ways to monetize social media, paraphrased as I’ve interpreted them:
- Context-based advertisement, both social context and well as content-based (like AdSense) advertisement.
- Advertisement via widgets (syndication), similar to #1 above, but via widget as a result of the syndication itself.
- Social shopping/commerce, where the social context is leveraged into the shopping experience.
- Pay for content such as ring-tones, wallpapers, etc.
I will add a few other approaches:
- Promotions offerings
- Directory Services
- The good ole’ Search
- New applications that improve the social networking experience, this is, how people communicate, interact, share…
The above also applies to mobile social software or media.