The State Of Social Media - 772 Words

Financial gain is not always the immediate objective of social media. However, monetization attaches a revenue stream to social media content. This monetization can be financial or psychic. Psychic income is defined as value that is not expressed in monetary form (Solomon, 2015). Like other businesses, social media providers need to earn money. To do so, they need to create a monetization strategy as a part of the company’s business model. A successful monetization strategy attracts consumers to the marketer’s content. By measuring who is viewing the content, the social media provider can determine how much a marketer should pay to place their promoted content (Tuten Solomon, 2013). In the article, â€Å"The State of Social Media,† Martin looks toward the future of so ¬cial media and discusses the ample possibilities and potential pitfalls (2015). Social media marketers need to be aware that they are not misleading consumers. Users do not like when they cannot distinguish between ads and content. Misleading ads could backfire on the marketer. Social media sites will need to tackle the challenge of making advertisers happy and keeping their number of users growing. (Martin, 2015). â€Å"Mobile will continue to grow at alarming rates and will drive how users consume media. Social will open the door to additional ad opportunities on mobile, and budgets will shift accordingly† (Martin, 2015, p. 23) The first social media site that I analyzed for revenue sources is LinkedIn.Show MoreRelatedSocial Media And Its Impact On The United States1188 Words   |  5 PagesProtests in Baltimore over the death of 25-year-old Freddie Gray while in police custody have invoked a broad spectrum of responses and emotions in the United States. Many have taken to social media outlets such as Facebook, Twitter and Instagram to express their views. The remarks have been both supportive of citizen protests and condemnatory. 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