Exploiting Social Networks To Make A Lot of Cash

Last week, my associates in the BPO asked me to give a keynote speech at an upcoming entrepreneur’s summit. I asked cashhhhthem what the topic had to be and they replied “Oh, anything about making money online. People are tired of small scale food kiosks and salons. You’ve been at it for years- so share the knowledge!” That intrigued me and I acceded on the spot. I promised to give it my best.

Now most people think of blogging and earning through adsense when “online money making” is mentioned. I didn’t want to repeat what everyone knew, so I decided to reveal a relatively new method of generating cash thru the web: via social networks. This method is unsaturated and can provide an avenue for wealth building.

On opening day, I arrived at the seminar (but to my chagrin, the program stated: Keynote speech by Joseph R. Plazo on blogging for profits) and set up my presentation. It was too late to have them change “blogging for profits” to “social network monetization.

I proceeded with the step-by-step method to living off social networks like facebook:

1) First, create affiliate accounts that pay big commissions. Clickbank, commission junction and other webhosting companies offer such rewards programs. Payout often goes up to 75% in profits.

2) Create an account at twitter, myspace, friendster and facebook.

3) Once in, join various social network groups. In facebook, one such group is the Mobwars. Another is Mafia wars. Once you join, it is easy to gain up to 5000 friends from the normal circle of 500 to 1000 the average facebooker maintains. The extra 4000 friends become your target market.

4) Using teasers, write one liners once or twice a week on your social networking shoutout like : “Hmmm… this AFFLINK looks like a curious way to get my hair back.. lemee see” or “Gods! I didn’t know I could get ripped abs this way with AFFLINK… and it only took 2 weeks!”

5) By interspersing the “advertising” with real posts about what you had for lunch or how the date last night went, your profile looks genuine. Real. People click because your ‘impartial one line review’ carries more weight than whole page review sites proliferating the web.

I then proceeded to proof of concept by flashing on screen several commission checks resultant of such campaign. One initiative that drew a lot of attention was an online moneymaking system I promoted that taught affiliate marketing through twitter itself.  At first the room went silent. Then one fellow loudly retorted “That’s more than my monthly income! To think I’ve been using FB to find dates only!” The crowd laughed and never had I faced a Q&A section that lasted more than my speech. Looks like there’s going to be a lot of friendster marketers now!

Are you prepared to make cash off your “friends?”

One Response to Exploiting Social Networks To Make A Lot of Cash

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