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The days of relying on television, radio and print advertising are almost over. No they won't go away completely, but they will cease to become the predominant approach for marketing most businesses -- if they haven't already.

What has replaced them? Online marketing. Absolutely. Organizations market through online ads and their own websites. They also create blogs to talk directly to their customers. But even more common these days is the idea that user-generated content can create revenue for an organization.

User Generated Content Defined

Basically, user-generated content is any content on the web created by a user directly. This includes comments in blogs, forums, social networking sites, reviews on Amazon and other retail sites and more.

Can UGC Generate Revenue?

According to a recent study by eMarketer - maybe. According to the report, the project that the number of UGC creators will rise to 108 million in 2012 from 77 million in 2007. That's a lot of people out there on the web talking! Although these numbers are huge, eMarketer says advertising revenues will not necessarily be high as a result. However, they indicate that they expect these revenues will climb to $824 million USD by 2012. Last year it was only $162 million USD.

How Can One Take Advantage of UGC?

Bryant Shea, Director of Content Management at Molecular held a seminar last year called Building Online Communities. In it he talked about how users love to talk and listen to each other. He also indicated that users have more influence on advertising than ever before.

Organizations have two choices: be part of the exchange or sit on the outside and watch as users take a strong hold on how a product / service is perceived.

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