Social media marketing is a way to promote your business on the internet via social networking. This has grown to encompass a very large number of websites and methods.

The savvy internet marketer is learning how to use this powerful marketing method to grow their business and make valuable contacts for the future.

Of course this also means making more money if you do it right. Let’s take a look at 4 ways to use social media marketing to make money online.

1. Blogging is a very strong way to combine various forms of social media marketing all in one place. If you do not have a blog you are losing ground to your competitors who do.

2. Social bookmark your blog posts to create traffic from social directories and as search engine bait for search engine traffic.

Be sure and use a quality blogging platform such as WordPress. They offer a terrific plug-in that makes social bookmarking a blog post very simple.

Social bookmarking gives you a way to get backlinks to your blog very quickly. You should be bookmarking to social directories such as Technorati, Digg, Stumbleupon, and Propeller.

Also go get a Twitter account and learn how to make friends and use it to drive traffic to your blog. This is fast becoming one of the top social sites online.

3. Video such as You Tube is becoming a favorite way for bloggers to add some excitement to their blogs, but it is also much more than that.

For example many affiliate marketing programs now offer videos embedded with your affiliate i.d. that you can use to pre-sell a visitor before sending them to your affiliate website.

Many bloggers are also easily creating videos and putting them online on their blog. This is a very powerful form of social media that is giving your visitor what they want. Many people are a product of the TV generation and like to learn by watching as opposed to reading.

4. Discussion forums are a great place to make friends and sell products if you do it right. They can also be an excellent place to create joint ventures and millions of dollars are sold online now because of these.

There is much more we could say about social media including social networking in places such as FaceBook, My Space, and many others. The bottom line is making money online via social media all comes down to finding a way you enjoy and then mastering how to use it to your business and personal advantage.