5 ways small businesses can make money using social media

I’ve said it before, but I’ll say it again: No CEO thinks that cool trumps revenue, and you shouldn’t either.

Experts who tell you how “cool” social media is and how it’s good for only “your brand” are full of it. I’m sick of these snake oil salesmen posing as “social media gurus,” charging you thousands of dollars to listen to them tell you how they can help. Stop believing the charlatans who show you 100 Twitter followers and expect you to believe that they can cure cancer.

Here are five ways that your small to mid-size business can use social media to generate revenue today.

1. If you run a restaurant. Get to know tools like Foursquare and Facebook Places. Teach your servers to recognize the signs of someone who uses Foursquare, Places, or the like: They keep their device on the table or they talk about “checking in.” Have those servers ask their customers if they use those location-based games. If they do, have the servers offer a free drink or appetizer.