Literature Review Essays

Literature Review In researching various methods of profiting from social networking sites such as Facebook and Twitter, we found that there wasn’t much literature on the topic. Most articles touch upon how companies are using social media to aid in their business, but this is not the point in our research. We are looking to find how individuals’ use of social media can potentially earn them some sort of income. In the abundance of research on our topic, we will turn to see how businesses and individuals alike are using these sites to bring in the bucks. With the days of print advertisement quickly fading into our rearview mirrors, companies have turned to social media to supplement their marketing strategies. Nowadays, increasingly businesses are turning to multi media platforms in their advertisements, such as Facebook or Twitter. Though it remains unclear whether television leads viewers to take to the internet in search of information regarding their favorite programs or vice versa, one thing is certain: Social media does drive viewers to visit their show of choice’s website. Senior vice president at CBS interactive puts it best when he says, “As we push stuff onto Twitter and Facebook-a clip or a photo or a comment made by talent from one of our shows-we can see that large portions of the traffic to our sites are being driven by leads generated that way. And of course, more traffic to our sites drives more revenue,” (Wait, who’s actually making money off social TV?”).
This certainly rings true for those whom have time and money to spend on advertising, but is it possible to start from the bottom? General manager at AKQA Media believes it is. He states, "If you create brilliant content, you don't have to pay so much to get the news out there,"(Can brands market on Facebook without actually spending money on advertising? By: DELO, COTTON, Advertising Age, 00018899, 4/9/2012, Vol. 83, Issue 15). Though he does believe great content goes hand in hand with advertisements to produce the most profit. He goes on to say, A digital marketer with a $5 million budget looking to drive traffic to Facebook rather than its own site could feasibly be spending $2 million on content development and community management, with the balance going to media. In that scenario, 20% to 50% of the $3 million could be going to Facebook ads”. But what does this mean for the common man? Facebook may be a way of primarily advertising for products and programs that are already in existence, but what about creating one’s own product? There are many different social media platforms that the common citizen can take to in order to potentially earn themselves some cash. Whether it be YouTube, Twitter, or Facebook, people all over the world are finding new and innovative ways to market their product and themselves via the inter webs. Take YouTube, for example, a video sharing giant with over 800 million users whom upload original content for anyone to view. Possibly the simplest way for individuals to make money on this website is to become a part of the company’s partner program. To do this, users must upload creative and original content, have a sizable audience, and apply to be admitted into the program. Once a partner, the company will compensate individuals according to views as well as pre video ads. Joel Stein’s article, “The Other Cooking Channel” states, “Hundreds of people who have been accepted into YouTube’s partner program are now making more than $100,000 a year for letting the site put ads along the bottom of their videos,” (Time. 8/22/2011, Vol. 178 Issue 7, p50-51.) But it’s not only those who have turned YouTube into a career who are making money. Take Charlie Schmidt, for example, a graphic designer from Washington who spliced together video of his cat with a piano and produced the widely viewed “Keyboard Cat Video.” This one video generated over 3 million views, earning Schmidt upwards of $20,000. Spokesman Aaron Zamost sheds

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