How to Get Paid for a Social Site

1. Charge a registration fee. People always prefer free sites, but if you have something to offer that other social sites don't, people will pay to use it. You can offer a trial period or offer free registration or charge only for extra features.

2. Charge for banner space. If you have a lot of traffic, people will want to advertise their business on your site. Place a message on any page of your site to let visitors know about the option and add an 'Advertise with us' page with prices and other relevant information, including means of contacting you.

3. Sign up for Google Adsense or any other contextual advertising program. These programs use targeted marketing by searching for keywords and providing site owners with adds that are relevant to the content on their site. Site owners receive a payment every time a visitor clicks on an add. It's very easy to sign up and placing adds on your pages is as simple as copying and pasting pieces of code.

4. Sign up for an affiliate marketing program. There are many affiliate marketing programs available. These programs work similarly to contextual advertising, but instead of advertising ads, you promote products and services. Many affiliate programs require your visitors to actually buy the product or fill out a form for you to receive payment. Read the affiliate agreement thoroughly to determine which affiliate program is right for you.

5. Sell your site. If you built a social site and don't want to run it, offer it for sale. This is usually the last step, as you will most likely have to show proof of significant traffic and revenue to any potential buyer in order to get a decent offer. You can offer your site for sale on the site itself or through websites such as WebsiteBroker, DealaSite or even Ebay. Before you list it, do your research to determine how much your website is worth.