Hootsuite, one of our favorite social media monitoring tools, published an article on the eight types of social media and how they can benefit your business.

Check out the list and our thoughts below.

1. Personal sharing networks
2. Media sharing networks
3. Online reviews
4. Discussion forums
5. Social publishing platforms
6. Bookmarking sites
7. Internet-based networks 
8. E-commerce

Social media is more than personal sharing networks, it includes anything on the internet where one person can influence another. Think Quora, Reddit and the like. Peers naturally influence peers. Make sure you meet your audience where they are. Use tools like Google Analytics or HubSpot to track where your website traffic is coming from. 

"If the size of your brand allows is, an online store, or, at the very least, an online catalogue is essential to attract Generation Y clients. E-commerce sites and sites with e-commerce capabilities, such as Pinterest, can be a good solution for brands who aren’t currently hosting an online store as part of their website. If your business doesn’t have an e-commerce partnership with a major distributor like Amazon, you may soon be able to incorporate Buy buttons into social networks like Twitter."

Last,but not least, don't forget about creating a marketplace. It's social shopping where users can rent, buy or trade with other people. E-commerce meets social media. Lear more at Near Me. 

Read the source article at Hootsuite Blog