Forums: Discussions for entrepreneurs and small business.

I have an idea for a very niche social media site. I`ve done my research and homework. It`s an area I specialize in too.  But how does one make money off of a social media site.  I think it`s the niche small that it probably went get VC funding or purchased by anyone, honestly.  But there is a need for this site.

Selling ads of course is one option. Any thing else?

Also, I`ve read that the best way to gauge whether or not you are reaching a big enough market is to check and see if there are any magazine in that niche on the stands.  There aren`t, but my niche has been covered in the press a lot lately.  Does this count?

Sandra

Being covered a lot by the press RECENTLY is not a solid proof that the niche might do well in the long run. Try using Google Trends to see whether the niche has some consistent demand over the years.

Don`t start a site with an aim that it will be bought by someone else later on because this is the mindset that cause so many dot com companies to go bust during the dot com bubble. Selling ads will be the primary ways to monetize a site. However, if your site receive little but targeted traffic due to the small niche, you may want to consider doing affiliate marketing or placing Google AdSense ads as they will generate much more money compared to plain banner ads that pay according to the traffic you receive.



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http://www.SproutGeek.com - The #1 Blog for Small Business Owners, Startup Entrepreneurs and Marketers

How do you determine if a niche is significant enough on Google Trends? Am I looking for a particular number?

If its a solid niche and information is hard to come by, consider a paid membership site.

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Sandra,

You may also want to consider a PPC campaign.  Check out our FREE entrepreneur guide and module that discusses marketing in today`s web 2.0 world.  This will give you ALOT of great ideas as to how to leverage all the information.

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