How to make money in social media by teaching people how to make money in social media
1. Define yourself as an expert in social media. (see Footnote [a])
2. Develop a Top Ten List of advice you can give social media wannabes when you’re invited to sit on panels at social media events. (see Footnote [b])
3. Decide how much to charge for speaking on panels. (see Footnote [c])
4. Deduce a method for getting wineries and others who want to make money from social media to pay you to teach them how. (See Footnote [d])
So there you have it: Define, Develop, Decide, Deduce: What I call “The 4 D’s of Social Media.” Look for my book on the topic, which will be published next month by Vaynerchuk Media. You can order it right here.
[a] This is as simple as creating a business card. Here’s an example:
John M. Swinthope, S.M.E.
President, Social Media Strategies
1144 North Forklift Drive
West Islip, Long Island 04403
You’ll also need a cool-looking brochure that explains your business. Here’s an excerpt from John Swinthope’s:
“Social Media Strategies is the only social media company that strategically aligns you with the most current strategies in social media. Be it a blog, Facebook, Twitter, YouTube or whatever, Social Media Strategies can maximize your involvement in social media and strategize your ROI in line with that of the biggest corporations.”
You’ll need some Testamonials. Here’s an example:
“With the expert strategical guidance of John Swinthope’s Social Media Strategies, I’m now making up to $65,000 a year in my social media business!” — Ellen Wickles, Denver, Colorado.
[b] This is easy. Just steal other social media experts’ advice and change the wording a little, so they can’t accuse you of plagiarism. For example, in the current issue of “The Tasting Panel,” Anthony Dias Blue’s amusing magazine, on page 18 is an article about a social media panel held earlier this year in New York. The well-known blogger, Alder Yarrow, was on the panel, and he gave the audience this advice: “Read other wine blogs, and don’t have one unless you can do it well.” You could rewrite Alder’s advice anyway you want. Here’s one solution to avoid a lawsuit: “If you decide to do a blog, decide to do it well. If you don’t know how to do a blog well, you can read other well-written blogs and learn.” Even if Alder saw that, it’s unlikely he’d recognize that he had actually written it. And you’ll probably eventually find yourself sitting next to Alder on a panel!
[c] Since billing clients will be central to your social media ROI, it’s essential to do it right. You can begin by testing the waters to figure out how much you’re actually worth. The next time somebody invites you to speak on a panel, tell them they’ll have to pay all your expenses plus $10,000. If they agree, then that’s how much you’re worth — $10,000. Next time somebody calls, ask for more; say, $15,000. If they disagree, then you know you’re worth somewhere between $10,000 and $14,999.
[d] This is the most challenging part of all. You have to convince people to pay you perfectly good money for advice that is, or could largely be, completely meaningless. But it’s not as hard as you think, for a simple reason: They know even less about this stuff than you!!! Therefore you can take advantage of their ignorance by showing off your knowledge. Don’t feel guilty about it; after all, they want to believe. All you’re doing is helping them to believe — in you, in themselves, in their futures. What’s so awful about that? It’s almost like being a priest or a rabbi, plus you get paid for it!