Business is in the business of “monetizing” pretty much everything it does – that’s the nature of business. So if your organization is using social networks, it’s a good bet the purpose is to improve the financial picture.

How’s that going for you?

If you haven’t figured out yet how to “monetize” your social networking, there’s good advice from the folks at Forbes, where Richard Davis, CEO of Avectra (which makes membership management software) lays out the money making opportunities.

They include:

• Advertising
• Premium content/premium subscriptions
• Recruiting/job classifieds, and
• Transaction fees.

When its time to meet with your marketing, sales, tech and leadership teams about social networking activities, you’ll want to explore how to use each of these channels to boost profits for your business.

Tags: business, Forbes, monetize, social networking