Can You Actually Make Money With Social Media?

By Yaro Starak
44 Comments

Over the last week Don Crowther has released some free videos in the lead-up to his Social Profit Formula launch.

You can now watch all three of the content videos here (this is my affiliate link, but you don’t have to buy anything – I strongly recommend you watch the first video, it’s good stuff – especially in the second half, which changed my mindset about social media) –

Common Questions About Social Media

Social Profit Formula Videos from Don Crowther

I like Don. He kind of reminds me of a mad social media scientist. You can tell he likes the science and business behind social media just a little too much, but that’s a good thing, because most people don’t know how to actually make money with it.

Don’s not your usual small time social media expert who just tweets and facebooks every day and thinks that is enough to make you an expert. He’s actually got results, results for real businesses too and thus he’s called upon to consult in this field, further expanding his knowledge (there’s nothing like helping another person’s business to grow to really understand your market).

I’m not a social media expert by any means, and after watching Don’s videos I realized I don’t really have a strategy with my social media and thus I use it mostly to make friends. That’s great for my ego, but not for business.

I do make a little money from it no doubt, and it helps build the “Yaro” brand, which brings in traffic, but compared to what Don is talking about, I’m really far off.

It’s About Business Relationships

Don is all about laser-focusing in on the type of relationship that leads to sales. Most people dilute the effectiveness of their social media by mixing messages.

One day you’re talking about what you had for breakfast, then what movie you saw, then promoting a product, maybe releasing some content, etc. On the surface that seems like the right way to use social media for business, but the problem here is that you send mixed messages.

It’s okay to personalize your business social media use, but it should be in relation to the marketing message you are trying to deliver. The key, as Don taught in his videos, is congruency of message delivered via valuable content.

This means creating separate social media accounts, like a Facebook Fan Page and a separate YouTube and Twitter account specifically for your business purposes and make it clear why people should subscribe. This is about a business relationship, not a friendship for friendship’s sake.

Some of this is very subtle, and Don does a great job of explaining it all in his video, in particular the second half of the first video. I recommend you go and watch at least the first video now so you understand this very important distinction.

Click Here to Watch the Video

(You will have to enter your name to access the videos, then click the link for the first video.)

My Ah-Ha Moments

This is what I got out of the videos, which makes them must-view content if you have any interest in marketing via social media channels –

There’s a whole lot more in the videos, and if you have an hour spare today I recommend you watch all three, however if you are pressed for time, watch the second half of video one or all of video two – this should take you about 15 minutes.

Here is the link again –

Download The Social Profit Formula Videos

Thanks to Don for producing these videos and giving them away for free, and good luck with your opening launch on Friday.

About Yaro Starak

Yaro Starak is the author of the Blog Profits Blueprint, a report you can download instantly to learn how to make $10,000 a month, from only blogging 2 hours per day. You can find Yaro on Facebook, Twitter and .

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44 Comments

  • Thanks for sharing awesome videos. Social media for money is really different from social media for friends. Cheers!

    • Jon

      On one side I agree that social media for money is really different from social media for friends… but on the other side the underlying common denominator is creating value for the visitors and build a relationship of mutual trust…

  • I love social media, it helps to bring in more traffic. It’s like a spider web that keeps growing.

    • I agree with you. If done right, it can really go viral that can’t be stopped. I also like social media, it can make you more friends, connect with them, and make some money too, if done properly again.

  • If the internet is a toddler, social media is it’s baby sister. There are a myriad of undefined possibilities that are possible with social media.

    Facebook
    Twitter
    Linkedin
    YouTube

    These can all be incredibly viral depending on how you leverage your website/blog with these. A site who can get 200 “likes” from a single invite on facebook is definitely on its way to a viral spread.

    Likewise, a frequenter of Linkedin has the ability to build very strong relationships through networking. Sales, lead generation, and even JVs can come from proper implementation of this site.

    In short, (too late) the time it takes to play with, and decide which social media medium is right for your online business, is WELL WORTH the reward you get back from visitors and monetization models as a result of.

    Thanks Yaro

    • The word ‘viral” continues to pop up whenever social media gets mentioned. I love the word, but would really like to get a clear recipe nailed down as to how to go about creating a viral campaign, and than after having said that, I would like to see a recipe for consistently and predictably being able to create viral campaigns. Boy, but the world of advertising is a-changing. Awesome stuff.

      • So basically what you’re saying is you want the “key to the city.” We would all like to have the recipe to make every article, page, and post viral.

        Anything viral is made up of several ingredients. Quality, ease of transferability, and the knowledge that passing it along is going to increase the reputation of the “passee.”

        Why do you think we are all posting on Yaro’s blog in the first place…wink wink Yaro :)

        But seriously, a very well done piece of digital content, no matter what it is, is always going to be viral. Social media is just the latest catalyst in making that possible.

    • Yes, I agree with this assessment for the most part. However, I think we always have to be careful not to spend too much time of “over” analysis and not get anything meaningful done. There is a lot to be said about just doing something.

  • Social Media has taken me quite some time to get a grip on. Like many I started out thinking the idea was to amass this huge following of people in order to have an audience to speak to, however, that isn’t at all the case.

    We have learned that quality is much better than quantity. In our business, network marketing industry, the key to building a successful community is through relationship building and servant leadership. Using the Social sites as a way to meet and offer value to your audience is priceless, especially when used appropriately.

    Unfortunately, the toughest task one is going to have to get over is the, “Get Rich Quick” and “Immediate Gratification” mindsets that most of us naturally have. You are going to want to join in the conversation, and become part of the community, before you just slam people with your product, services, or brand!

    If you do it right, Social Media is not only a way for you to build a massive community, however, you have the ability to positively impact thousands of people’s lives in the process!

    Thanks for the post, and the videos were enlightening. God bless,
    Ron

  • Really great info on Social Media. You are right, Social Media needs to be understood correctly, so that we can take the maximum benefit out of it.

    Social Media can be a great tool, but it does need to be managed correctly.

    Kindest,
    Nabeel

  • Very good post. I only use Facebook and Twitter at the moment but am always looking for more places to advertise. :)

  • I’ve checked out this video and watched all three, I can tell you now that the information is very good and has helped me quite a lot, it hasn’t yet helped me boost any traffic or details as such but I have planned a lot and can see it coming off….
    Great Info..
    Stuart

  • And the answer is yes, but hard work must come first :)
    Light, fun yet sensible presentation. Social Media is efficient but you must take care of it, have a keen eye on details to maintain your credibility and of course interact sincerely.

  • There is TONS of money to be made via social media as evidence by the ads plastered all over Facebook. I imagine they’re making a killing via their business model of monetizing other people’s social networks and content. Very similar to forums, which rely on user generated content and a kind of social-network aspect that keeps people coming back to the forum over and over.

  • Thanks for a great post, Yaro. You continue to provide some excellent content and insights.

    I especially like your comment that there are two kinds of Social Media: Social Media that brings you friends vs. Social Media that makes you money. I wholeheartedly agree with your point-of-view.

    I’ve noticed that there are five broad categories of Social Media Campaigns:

    1) Branding campaigns (usually on YouTube)
    2) Research campaigns (like MyStarbucksIdea.com)
    3) Customer retention campaigns (used by airlines to communicate with passengers)
    4) eCommerce campaigns (like yours. Bravo!)
    5) Lead generation campaigns (for B2B marketers)

    Keep up the great work. I’ve been a fan for a long time. I’ll be back for more.

    P.S. If any of your readers are interested, they can download a free chapter from my book “How to Make Money with Social Media” here:

    http://www.60SecondMarkerer.com/FreeChapter

    Again, thanks for the great post. You provide some excellent content.

    Best,
    Jamie Turner
    The 60 Second Marketer

  • Woohoo! Good timing! I was debating for a while if Social Media was actually worth my time, as it didn’t prove to be the ‘meat’ for most of my marketing campaigns…I concluded that they were just good for ‘friends’ and to ‘meet people who wouldn’t buy’…but little did i know it can do such targeted marketing…OMG.

    Thanks Yaro. =)

  • Social media is something that MANY people have made money off of. People utilize Youtube, Twitter, and other well known social media sites to either get their name out there or even make a business out of being a specialized guru.

    • I also just recently found out that youtube phenoms receive money if their video generates a lot of views. That’s another way that they’re making money off social media.

  • I like social media, especially twitter, for use with my blog, but I use it as more of a supplement to search engine marketing and other marketing techniques.

    • Same here! I find that if you utilize the social media tool correctly, it’ll really enhance your website.

  • O yes today every online internet marketing member is want to do this type of business all is also very necessary thanks for great sharing of in this blog.

  • Thanks for the review, Valeria. I also found the book to be well-written and clearly grounded in marketing basics. I also appreciated Jim’s advice on navigating different organizational types for people hoping to convince various constituents within an organization.

  • Social Media is still vastly under utilised, and there is definite room for some serious money to be made by specifically paying more attention to the business aspect of social media. These videos are well worth watching, but be warned that you’ll most probably will have a pressing desire to invest in Don Crowther’s Social Profit Formula!

    Have an awesome day, everybody!

  • Social media is just one piece of your marketing machine. It continues the conversation and depending on how you start the conversation is the way that your customers will come to count on you.

    If you start out just acting like a friend and then all of a sudden try to sell something, they will revolt, but if you maintain an informative stance on selling while giving valuable advice, they will continue on and look at your other web sites.

    Never just use one way of getting customers. Social media is just a tool like all the rest.

    -Joshua Black
    The Underdog Millionaire

  • Don is awesome. He is really a social media scientist. His knowledge in social media is so immerse and he really know how to make them works.

  • i just watched all of the don crowther’s videos for his upcoming product launch.the free content seriously is very good to use in our social media activities

  • Great post again Yaro! Yeah we`ve yet to see Social Media hitting its full potential yet I think, but agreed – splitting business and personal I think is key for users. BUT I still think though that having a personalized touch to posts gives your users somewhat more of a unique and one-to-one approach to business.

  • Just like you said Yaro, you have to be careful with the message that you choose to give with your social media. You can’t act as the customer’s friend and try to sell them in the next post. You have to deliver a consistant message that your customers will come to expect from you. This way it won’t be a surprise when you have a sales message. It will be a warm welcome. Great Videos!

    -Joshua Black
    The Underdog Millionaire

  • Great share you’ve here. I just always think about driving traffic while it comes to social media…I never think that I could make money with that :-)

    • Jeen,

      I have felt the same way, good for traffic, not for money for most people. But I have heard about sponsored tweets now?

  • I guess it goes with Chris advice to contribute on others people blogs. Well he never mentioned to spam people only comment when you can add value to discussion. Please don’t spam comments!

  • Another option to make money from home is to become a Ticket Broker…
    This guide will teach you how you can become a ticket broker so you can buy and sell concert tickets and make money doing it.
    Learning this business it´s easy, because exist a guide to show her how buy and sell tickets successfully… Source: The Ticket Broker Guide

  • Social Media is one of those unknown marketing methods that can help you get traffic. By building up a list of, lets say, Twitter followers you are opening yourself to others throughout the Internet.

  • Don’s videos are a great summary of social media. I had no idea there were 1600+ social media sites out there, so it certainly can become quite overwhelming. For me, it all comes down to the 80/20 rule: what 20% can I actually do that will provide 80% of the results. Focus on those tasks.

    Don mentions that the social media that you should be using are Twitter, Facebook, LinkedIn, and You Tube. I can handle four for now. Once things begin growing, then we can branch out into other outlets. WordPress can still be used as a great social media resource.

  • I have heard about this for a while now and unfortunately I cannot afford the price he has been asking for it, but my goodness, I would have REALLY wanted to be a part of this!

  • I am on social media because that is the way internet blogging and marketing is, unless you are big, social media does not help making money. Maybe it is good for ego a bit.

  • How does social media help in measuring the return of investment of a company?

  • Excellent share, going to pass this on to my friend since we just finished creating a website for his business. He’s been asking about using more social media for the biz and I figure it would be better to let an expert tell him :P

  • I believe social media can greatly increase your sales and help grow your business. But I am still trying to get the hang of it. Appreciate the links for the videos and some of your tips were quite helpful.

  • How can I incorporate social media into my small business marketing effort?

  • Social Media is a great way to promote your site and make money. The best part of it is that its free. Free traffic is the best traffic you can get.

  • I know a lot of businesses I work with have shied away from social media for this very reason, or more specifically, it’s hard to gauge how much revenue your social media efforts are worth. But as Social Media continues to grow, the question will have to change from “can you?”, to “how do you?”. Social media isn’t going away and entrepreneurs like us will sure enough develop ways to use it to our advantage – hopefully :-)

    Great post by the way.

  • I hear so many things about social media, but twitter itself is responsible for a quarter of my income this year. Just by the nature of helping out people and offering great solutions, I landed several consulting deals.Your Message

  • One thing that bothers me is there are so many people out there that are self proclaimed social media experts and there is A no such thing yet and most of them are fake. I know one company that gave this one guy 8,000$ to do a social media overhaul and got nothing really back form it. what a waist.

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