web 2.0

Web 2.0 used to be a “cool” keyword to throw around a few years ago. But after a few years of seeing waves of Web 2.0 companies come and go, the concept is not too fresh anymore. But that hasn’t stopped companies (big or small) from making money with Web 2.0. The fact is, the industry is still growing, so you are going to have your chances to make money online from Web 2.0 one way or another. There are plenty of people who want to get started with their blog or start their own Wiki, which means they are going to have their needs and wants. So as a business, you are going to have the opportunity to come up with products that address your prospects’ needs and help you take your business to the next level.

There are plenty of ways to speculate how you can make money with Web 2.0, but let’s take a look at how people are doing it today:

  1. Unique Service: create a unique service that people want to use everyday. Take Twitter for instance. Do I think its founders knew they would get to where they are today? Not really. But they did identify some need and hit it right on the nail. They may have gotten lucky, but that’s what you need to make it big like they have.
  2. Social Apps: there are plenty of social networking sites around, and some of them allow you to develop your own apps. Developing a Facebook or iPhone app can go a long way towards bagging your company a lot of revenue.
  3. Mashups: mashups have been around for years now. But many have managed to build a business around popular sites such as Twitter or Facebook by developing mashups that provide value to their visitors. If you are innovative and like to think outside the box, opportunities are limitless here.
  4. Themes: many people are now starting to blog to make money or discuss their passions with the world. That means they are going to need a theme that they can use to customize their blog and give it a unique look and feel without breaking the bank. Here is where you come in (see Thesis).
  5. Membership sites: membership sites are on the rise at this post. If you can create a membership site that provides value to your customers on a consistent basis while allowing you to work on your other projects (through automation), you can earn a decent amount of money in the process (example).
  6. Training Videos/Courses: creating a training course for people who want to get started with Twitter or want to get the best out of Facebook is yet another way to make money from Web 2.0 services without taking on too much risk.
  7. Add-on Services: providing people with a way to create cool backgrounds for Twitter or build a business card with their social media information online are some practices that have paid off online already. There are plenty of other ways to take advantage of this approach. You just have to identify the need and get your service in front of your prospects.
  8. Social Media Management: guess what? Big corporations are also interested in taking advantage of getting their feet wet in the field of social media. And they are going to need you help, if you can convince them you can get the job done. If you are particularly good at throwing Facebook or Twitter campaigns, your service is going to be in demand. Be a guru and the sky’s the limit.
  9. Social Media Automation: not everyone can handle the load that social media puts on their business. That’s where you can come in and take over the process by helping them automate the process. Socialoomph is a great example here.
  10. Coverage: if you are into blogging and can cover Web 2.0 and other technology events like no one else, then you can make money with your blog too. Pro blogging is not easy, but if you are passionate about it, you can make it work.

There are other ways that you can use Web 2.0 to take your business to the next level. Making money online with Web 2.0 is a science and art at this point. If you find that sweet spot and address a need in a unique way, there is no reason you can’t make money online with Web 2.0 services.

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The Internet has truly revolutionized the way we do business. You have probably heard that a millions times by now. But there is a difference between doing business on the Internet, and using the Internet to do business. Everyday, a new Web 2.0 service launches. Doing business online is now more than just being present on LinkedIn, Twitter, or Facebook. You not only need to be involved in these communities, you’ve got to use every single credible Web 2.0 service to build your brand and drive traffic to your site. You heard me right! Every single one of them. That doesn’t mean you should do all this work yourself. But it pays to outdo your competitors in the social media arena.

You may say, “I don’t have time to be involved in every single community on the web.” You are right. But that doesn’t mean you shouldn’t test them all to see which ones give you the highest ROI. It’s one thing to test and dismiss under-performing social communities. It’s another thing to completely ignore top social media sites just to come back in the game when it’s too late. With that in mind, here are a few technologies that you should be using to build business online.

Social Networking Sites: You can’t afford not to be involved in the social media in 2009. You should have a profile on Twitter, LinkedIn, and Facebook. And you should reach out to others and expand your network. Create your own group. Tweet interesting articles. Provide value to others. That’s what Web 2.0’s all about. Being involved in these communities is a no-brainer at this point:

  • Facebook
  • Twitter
  • Linkedin
  • YouTube
  • MySpace

Squidoo: if you are not using Seth Godin’s Squidoo, you are missing out. It’s a great way to build business and credibility. You can always sell your lenses, but I am personally in it for networking and driving traffic to my sites.
Digg: a lot of people say, Digg is overrated! But it’s not. Just because you can’t get anything out of it, doesn’t mean you are doing it right. Digg has proven itself to be a goldmine for a lot of businesses. If you are not taking advantage of it, you are just missing out. Take a look at what other top users are doing, and there is a good chance you can find the flaws within your own Digg strategy.

Orkut: Orkut is underrated but an absolute goldmine. It’s been around for a while and it’s a great way to build traffic and network with a global community.

StumbleUpon: another great site to drive traffic to your business and build up your network. StumbleUpon is more than giving a thumb up to your own story. You’ve got to be involved. You can blog and add friends on StumbleUpon too. And don’t forget that trust is everything. So don’t go around submitting all your pages to it without providing any value to others.

WordPress.com: it’s one thing to host your own WordPress blog. It’s another thing to own a WordPress.com blog and be involved in that community. And let’s not forget that WordPress sites do get ranked pretty well on search engines. It doesn’t take much to start a free blog on WordPress.com, so you should try to do it. It’s worth the time.

Weebly: Weebly is another blogging platform that helps you get links back to your own site and network with others. Creating your blog on Weebly is a piece of cake, so no excuses here.

Tumblr: Tumblr is a rising star. A lot of tweeters are already using Tumblr too! It take a little bit of time to set up your profile and manage your blog, but it’s all worth it. You definitely need to test this.

There you have it. There are thousands of other things you can do to drive traffic to your website. But if you are not taking advantage of the above services, you are missing out big time! It may look daunting to manage all your profiles on these social networks, but that’s the name of the game. You’ve got to out-hustle your competitors if you want to dominate your niche. And before you know it, you get a handle of it all. You got to be in the game to win it, so are you?

*For more information on how to master these web 2.0 services, check out Web Traffic Secrets.

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