It is estimated that social network marketing will bring in over 700 million dollars of revenue in 2008 and that number is expected to double within the next 3-5 years. Most marketers want to know how they can get a chunk of the change people are shelling out on social network sites. Social network sites like MySpace, Facebook, Orkut, and Friendster were created to help users interact with others all over the world. They are all used as a method of keeping in touch with friends, meet new people, and share ideas. Users are able to share videos, pictures, and other information. Several employers have turned to social networking sites to find information about prospective employees.

Social network marketing is so popular because it is mostly a word-of-mouth marketing format. Companies can create their own user profiles and they do not have to pay a cent to do it. Creating a profile on a social network site is literally free advertising. The goal of social network marketing is to generate interest in the company or product, not necessarily make money through an advertisement. Traditional internet marketing focuses on driving more traffic to your web site and boosting your rankings in the internet search engines. Pay per click marketing and keyword generation are of upmost importance to a marketer. Online social networks add a different form of search engine marketing. They provide a way for your company to create a page and appear in the web site's search engine ranking. When a person clicks on your site, the number of visitors will increase and they can be spread all over the social networking site.

Like search engine marketing, social network marketing will need keywords terms and phrases. The content in the social networking page needs to have content that is full of various keywords. Keywords will also act as text anchor links and will be able to get hits on the profile page and on your actual web site. Users of MySpace, Facebook, and other social networking sites will save their preferences to their profile sites. Your business can be saved to their site and lead to hundreds of endorsements for your company. As more people add your company to their site, the products and services will be exposed to more people and the business will begin to see results from the marketing.

People turn to social networking sites for answers on subjects they are researching. Since businesses have the ability to post blogs about information, people are able to subscribe to them on the social networking site. With each blog, you are establishing your company as a knowledgeable source of information. Members are able to send "comments" to your personal page. Companies need to regularly check their profile page and answer any questions sent in the user comments. People commonly will do research on search engines and social networking blogs and will ask their friends for clarification on a subject or particular finding. A business that is listed on a social networking site will have a perfect opportunity to answer the question and share experiences with the answer.

Social networking sites include profiles for celebrities, TV characters, mascots, bands, and several other media icons. Professional sports teams even have social networking pages as a way to promote their team. While it may seem like a wise decision to jump on the bandwagon, you need to be weary about how you do it. MySpace is known for having several brands established on their social networking site. A recent study of MySpace users indicated they were tired of numerous brands invading a social networking site and were actually frustrated by the businesses.

If a profile is not properly maintained, users can become upset if they request to be a "friend" of the company, and it takes several days before the company checks their profile and grants access. Other users can become frustrated with a company that sends out too many ads and blogs to other users. Social networkers have a different mindset from the regular internet user. A social network user wants their privacy and they do not want to be invaded by numerous advertisements. Businesses need to be careful about how hard they are marketing on a social networking site. Social networks are communities that do not like to be disturbed. People on social networking sites have certain standards about other user's behavior and if they feel a company is taking advantage of them, they will simply block them from their profile.

The target market for social networking is 18-26 year olds. There are some older and younger users, but the majority of users fall in this age range. This age range is known for being technically-savvy and tires of marketing ploys. Before a business creates a social network site, they need to look at this target market and determine if they are really interested in the company or product. This age group is notorious for word-of-mouth marketing and that is where a company can become successful on social networking sites.

Advertising costs on social networking sites is expected to reach $2.5 billion by 2011. With the number of businesses steadily increasing on social networking sites, very few are able to maintain interest of the users. Social networks are so attractive to businesses because they provide a one-to-one marketing opportunity. So many companies do not create a proper profile and they end up embarrassing their company or they waste valuable resources. In order to have a successful social marketing campaign, a company needs to implement the following steps:

Step # 1 - The needs of the company must be satisfied from a social marketing campaign. Determine what the goals and objectives of the business are before you go out and start up a MySpace or Facebook profile. Does the social networking site support the goals of the business? Every company has a different target market and you need to assess the focus of the company. Assess what the needs of the consumers are and how they would tie into the needs of the company. For example, a company selling denture mouthwash probably wouldn't consider 18-26 year-olds as their target market. Effective social marketing campaigns will come from proper study of the social networking site and a real understanding of the consumer.

Step # 2 - Find ways to involve the consumer on the social networking site. The best way to attract attention and gain more visitors is to create a marketing campaign that asks the consumers to do something. For example, you could create a series of trivia questions on the profile page or you could include a prize or incentive for visitors that cast a vote. Marketing incentives don't always have to be directly related to your company. You could include information about popular media topics such as elections or movies. The most successful social marketing companies involve the audience.

Step # 3 - The profile needs to be informative and easy to read. Users want to be able to get around on the site quickly and get the information they need within a few seconds. Social networking sites are designed for members to get their information quickly and pass it onto another member within a matter of minutes without hassle. Make sure your company understands this when they are creating the profile.

Step # 4 - Take advantage of media. Web sites like YouTube are so popular because they are full of information and entertainment for free. Ask your members to send in their media. You can compile a video, slideshow, or demonstration using actual member media. Members of social networking sites thrive on the overall look and appearance of a site. Your page should include informative videos and other information in a useful format. The more you allow your audience to participate on your page, the more word-of-mouth marketing will occur.

Step # 5 - A good social marketing campaign recognizes that they have to use multiple channels to gain interest. Social network information needs to be marketed on other channels. Musicians are known for excellent social marketing, they post their MySpace profile page on the back of their CDs or at their concerts. The same theory goes for a business, post the link to your page on other promotional materials. Include the link to the profile page on emails, newsletters, blogs, podcasts, and just about every avenue you can think of. The more people see your specific URL, the easier it will be for them to remember it.

Step # 6 - The final step in creating a successful social marketing campaign is to remember that the people on the social networks are real people. These people joined the web site to connect with other people and share personal attributes. A marketing campaign needs to be designed with this in mind. The campaign should yield to the requests of members and listen to their suggestions and complaints. A company that shows it listens and is willing to change is more likely to be accepted on the social network sites.