How to Make Money with a Social Networking Site? A Case Study with JomSocial
Have you ever thought of creating a social media website? If so, you can easily achieve this aim using a Joomla extension known as JomSocial. You can take advantage of the many potentials of the extension and monetize your social media site.
Let’s take a look at how you can create a social media community using JomSocial and customize it to make money online.
JomSocial: An Introduction
JomSocial is an extension of Joomla website. You can use the extension to create a social media community consisting of like-minded individuals. The social networking plugin allows members to carry on different activities including:
- Join different groups
- Create their own group
- Create a new discussion
- Post on walls
- Publish news bulletin
- Subscribe to group activity
- Control membership of group
To install the plugin, you must download it from the Joomla extension directory. Afterwards, you should install the extension from Joomla’s backend.
The extension comes with standard features that you can modify to suit your preferences. This is where you can ask the Joomla website developer to implement your vision of the social media community. The developer will make modifications in the core of JomSocial extension and develop a completely unique social media community.
Managing JomSocial Networking Site
You can use supplementary components such as Ready Bytes’ JomSocial Profile Types (JSPT), XIPT Members, and UploadnSell to better manage the social networking site. Let’s take a brief look at these JomSocial components.
JomSocial Profile Types
The JomSocial Profile Types (JSPT) plugin allows you to manage and view different profiles on the social media site. You can use the module organize the users into different roles. The module consists of a dynamic & flexible engine that can map all the user data on a Joomla website. Also, the module supports safe import and export feature to safely transfer user data from one system to another.
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XIPT Members is a Joomla module that works with JomSocial extension. The module allows you to manage all the profiles of the members. Since the module is open source, you can customize it to suit your requirements.
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UploadnSell is a free Joomla module that allows you to sell products to the members of the social networking site. You can create a buy link that can redirect customers to PayPal. The extension also allows you to create an offer with an expiry date.
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Money-Making Ideas for a Social Media Website
After creating the social media community site, your next step should be to grow the online community. The online community members represent a gold mine to whom you can offer goods and services. The offers can be made directly or through in-site advertising similar to Google and Facebook ads. Here are some other money-making ideas for the social networking site.
- Affiliate sales
- Paid Subscriptions
- Sponsored links
- Access fees for advanced features
- Paid referrals
The above are just some of the ways in which you can monetize the social networking site. You can learn more about Monetization via our Webinar (right side panel on this page).