What is the strategy on monetizing social media, Anyone out there got a clear answer?
 
We had to ask our panel of experts to see what their thoughts were on this. 

The panel comprised Nathan Clapton, Vice President-Partnerships for TripAdvisor, David Doucette, Executive Director, Internet Marketing for Fairmont Raffles Hotels International, Jerome Wise, Vice President - eCommerce for TRAVELCLICK International and Luke Clark, Editor of Mandala Magazine, Ink Publishing.
 
Does anyone remember what was the most memorable thing that happened this past year in terms of social media?  It all started with the US Airways flight that landed in the Hudson River.  The first pieces of news that trickled out came courtesy of Twitter.  And thus the flood gates were opened.
 
In the last year, there has definitely been a coming together and uptake in the market of social media, whether it be via mobile or computer.  A lot of hybrid models are popping up, especially in the travel sector.  We're also seeing that progressively, companies are starting to share their experiences and making them available on Facebook.
 
Some facts.  Facebook hit 500 million users in July of this year.  The Old Spice campaign went viral, proving that if a campaign is innovative and fun the potential with social media is tremendous, including revenue generation.  The movie 'The Social Network' is hugely liked, its success perhaps showing how much social media has become part of our daily life.
 
But all this success has also spurred a backlash, especially against Facebook, where privacy, or the lack-off, became a huge point of discussion in 2010.  But could the backlash be an indicator that 'it' has finally arrived?

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www.webintravel.com/news/wit-day-two--monetizing-social-media--a-dream-or-reality_707