Recently, there have been a number of new social networks making a name for themselves by providing a “Revenue Sharing” model for their members. These social networks have decided to reward their user base by sharing a portion of their Advertising Revenue with their members just for using their website.

Revenue sharing social networking websites are often geared less toward larger businesses and more toward individual entrepreneurs, small businesses and multi-level marketers. They usually include some form of paid to refer members or paid to contribute content program. The cornerstone of revenue sharing social networks is their belief that members should benefit from the content they provide and the page views they create. In fact, they often promote their own services by stating that the larger social networking sites like MySpace and Facebook make millions of dollars from advertising revenue on user generated content and page views without sharing a single cent of their advertising profits with their members.

They definitely have a point. Everyday, millions, perhaps even billions of advertisements are being displayed to the masses that visit and use the larger social networking communities. All of that advertising is generating money. If you had the choice, wouldn’t you want to get a piece of that pie? Of course! I know I would!

That’s where the Revenue Sharing networks come in. There are a few different models out there, but they all seem to be backed by the same principle. Use their network and you’ll get something back. Use the other guy’s and you won’t. Two of the most prominent of these networks are Yuwie and myLot. They both operate on a different revenue sharing model, but the basis is the same. Set-up a profile on their site, generate some content, get people to view that content and share in the advertising revenue. They also both have a referral or affiliate program that rewards members for recruiting new members into the network.

Now, while it’s possible to earn money by just joining these networks and regularly contributing content, the real money to be made is in referring others and getting a piece of their action too. This is really no big surprise. If you want to earn money using these networks, you should have to do something for it. No one is just going to give money away. That being said, you don’t have to be a multi-level marketing genius or harrass your friends and family to join the networks in order to make money. Simply use them on a regular basis for the purpose that they were intended.

Be social. Have fun. Share with friends. 

If you have a large group of friends on one of the larger social networks, don’t railroad them with information and invites. Simply suggest that they take a look and point out some of the advantages of the network that you’re inviting them to join. Those that are truly interested will contact you for more information on their own. Don’t make any outrageous claims of fortune. Most people will not make a steady income from these types of sites. However, it is possible to earn enough money to help with the monthly bills, if you work at it. Make sure to explain to those whom you invite, that it will probably take a while to build any sort of income, but getting anything is better than getting nothing. Besides, most people are already doing the same things on the larger social networks for free. Why wouldn’t you want to get paid to do the same things on a different network?

It’s also a good idea to remind people that by joining the new network, they don’t have to stop using the social sites that they’re already using. In fact, they can even use their primary social network to recruit referrals for the revenue sharing network of their choice. This is actually becoming a little more difficult as competing social networks have started to ban advertising for their competitors. Some have security measures in place to block links to certain domains, while others have gone as far as to suspend the accounts of people that promote competitors in their networks. Just make sure to read the Terms of Service at each network before promoting your other network.

Probably the best way to get around such roadblocks is to use the private messaging service provided by your network to inform your friends about the network you’d like them to join. Once they express interest, send the invitation to their personal email address. Please don’t spam. I can’t stress that enough.

If you’d like to learn more about how to make money with revenue sharing social networks, it’s easy. Simply join me on Yuwie or join the discussion on myLot then, add me as a friend. My profile pages have links to advice, helpful blog posts and discussions I have started. You can also send me a private message and I’ll do what I can to help get you started on the right foot.

I would like to announce that I have just finished adding a new Social News Feed to the resources available at GetPaidToBeSocial.com. In order to help keep everyone caught up with all that’s going on in the daily world of social networking, I decided to create a combined news feed from several social networking news sources. This combined news feed should provide all of the news you need to keep your finger on the pulse of social networking. The feed combines resources from some very reputable and valuable social networking news sources including:

Social Networking Watch - Mark Brooks operates a boutique consultancy that exclusively serves social networking and internet dating companies. He has advised the CEO’s of Friendster, Friendfinder, Cupid, Diet, PlentyofFish and TRUE among others, and has worked in the online community space since 1998. Social Networking Watch (est. August 2006) has no ads, no fluff, just raw news, official rankings and CEO interviews relevant to the Social Networking Industry.

Social Media Trader - Offers a regular selection of in-depth articles, statistical analysis, simple to digest guides, original and unique resources. SocialMediaTrader has information that will help you expand your website and help you to truly engage your audience.

Social Media Optimization - David Wilson is the co-owner of Braveheart Design Inc., a search marketing company in New Hampshire. He registered his first web site in 1997 and has spent the last 8 years focused on search marketing with a wide variety of businesses from small start-ups to Fortune 100 companies. He believes that social media optimization is the merging of traditional media, search engine marketing and social marketing.

Social Media / Social Networking - Lisa Whelan is interested in web 2.0 and the ways that social media improves interaction between people, making the world a smaller, and more accessible place. She believes that Social Media accelerates destiny.  Aside from writing a blog, she’s also an independent management consultant, specializing in business development and marketing in high-tech.

The Social Media Marketing Blog - Scott Monty’s perspectives on implications of social media – the convergence of marketing, advertising and PR on the Web – for marketers, agencies, the enterprise and the individual.

I am sure that anyone wanting to earn money online by using the social networking sites to their fullest advantage will benefit from using the information contained in this feed. I hope everyone that visits and/or reads this post finds the new feed useful. As always, feel free to contact me with any questions or post your comments about the new feed below.