Making Money From Social Media Part 1

(Article printed from ARIA Connect - the online resource for radio sales professionals: Several stations have created a “fan page” on the largest social media site Facebook; maybe you're one of them. So what are you doing with it? How can you leverage it to make money? Radio stations across the country are creating fan pages for their stations, on air personalities or shows, promotions and just about any other thing you can think of related to broadcasting. In some cases hundreds and even thousands of P1 listeners have joined as fans of these pages.

Over the next several weeks I will discuss the power of social media and how you can leverage it to tie in advertisers and make money from it. I will start with the keys to setting up and building the fan page traffic and when the series is done, Connect will have ready-to-use proposal for selling your social media traffic.

Let’s start with a simple understanding of social media. Social media needs to be viewed as another media outlet. Look at it as another radio station that works in conjunction with the existing one you have. People spend time with it similar to how they spend time with other media with one exception… it is interactive far more than any other media known to us at this time. Several broadcasters first viewed social media as a negative touting that listeners should just be pushed to the station’s website so they can monetize the traffic. What we have learned is that social media sites can work in tandem and even independently of a station’s existing website. The key to any successful station is the relationship they have with the listener and social media allows for that relationship to grow stronger. If you don’t at least have a fan page on Facebook for your station… get one!

Our discussion on social media will first focus on Facebook because they have the biggest and fastest growing audience that you should focus on. Yes MySpace and several others are out there too, but Facebook is a dominate force with many features that a radio station can leverage easily to generate revenue. Tomorrow we will cover the keys to creating and growing a successful fan page on Facebook.

Doug Edge

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