April 28, 2022

Business Operations of Social Media Platforms

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Source: Oberlo

A social network is a type of Internet service, usually in the form of a platform, window, or web page. These are free online services that make different types of communication, information sharing, and opportunities for self-presentation possible. These networks, in addition to their original role in communication, also have a role in marketing, in the promotion of other web pages, and a variety of other services, so if they are free for their users, how do they actually make money?

Most Popular Social Media Platforms

Facebook remains the world´s most widely used social media platform. It represents a social network that is, unlike other similar web services, designed to connect, via the Internet, those people who already know each other in real life. It was founded in 2004, originally as a network for connecting students of American colleges, but over time it has become a global phenomenon. Right behind it is YouTube – a popular Internet service for sharing video content, where users can upload, view, and rate video clips. Registration is required for uploading content, while it is not needed for browsing it, except for such content that is not suitable for people under the age of 18, and it has 1 billion users. It was founded in 2005, run by private funds, and later taken over by Google for $ 1.65 billion in shares.

How Does Facebook Make Money?

It is no secret that Facebook makes such amounts of money, of which we – mere mortals, can only dream. However, it is worthwhile to ask ourselves how did Facebook make so much money while not selling anything? It is quite simple. The basis of Facebook’s business is online advertising, those little ads that appear on the right side of the Facebook screen. There is a choice between two ways in which your ad will be charged. The first is the CPC (Cost Per Click), where you pay only when someone clicks on your ad and, by doing so, visits your site. In this mode, you bid the maximum price of one-click yourself, as well as the daily budget and duration of the campaign. You choose this payment method when you wish to safely increase the number of visits to your site. The second method is the CPM (Cost Per Mille), where you pay for the number of times your ad will be viewed. Namely, you place a bid for 1000 views. What is astonishing is that they are also making a profit through our personal information. In other words, what we are giving away for free, they are paid millions, if not billions, for. In fact, in the world of social networks, users are literally money-making machines, even if they are not buying anything. The reason for this is that social networks are an extremely important and comprehensive tool for marketing research. Every time you click “like,” “share,” join a fan page or even add a new friend, you are creating a new statistics package that big corporations will offer huge amounts of money to obtain.

How to Make Money Through Social Networks?

Social networks have provided an entirely new way to make a profit for celebrities who can charge a substantial amount for each one of their Twitter or Instagram posts. Given that some of them have millions of followers, the posts in which they mention a sponsor or wear designer clothes, use a smartphone, tablet, or the like can be seen by a large number of people, earning them tens of thousands of dollars. However, making a profit by using social networks and online services is not reserved only for actors, singers, athletes, and other celebrities, and it is possible for “ordinary” people to make a profit from them as well. This is best seen when it comes to YouTube, where there are a number of yesterday’s anonymous people that have become big stars, who currently make a living only through YouTube, earning millions of dollars per year. And the same goes for people who are skilled enough to use online betting sites to earn money, such as the best online betting sites in the US, where you can find the most trustworthy US sportsbooks to choose from. These reviews cover a range of factors, including trust & reputation, financial safety and security, best betting lines, speed of payouts, and many different bonuses. 

In conclusion, there are many ways of earning money online if you are willing to invest enough time and dedication. 

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