I’m in the throws of editing stories for the upcoming issue of Revenue. While the new edition of the magazine will be filled with tons of great articles on a variety of topics, one standout story is about how affiliate marketers can leverage the social networking phenomenon. It’s a great article written by one of our frequent contributors, Alexandra Wharton.

If you’re wondering just how influential social networking sites are check out the email that Alex sent me when she filed her story:

“In the past month, online social networks influenced more than $2,000 worth of my household’s spending and I didn’t even realize it until I sat down to write this article.

Based on comments about lodging experiences on the travel website, TripAdvisor.com, I changed my upcoming vacation reservations in Tybee Island, Georgia, from a B&B to a hotel.

Then, acting on postings made to Yelp.com, a site that offers user reviews of a variety of establishments - from hair salons to dentists - I changed my first ever acupuncture appointment to a different practitioner.

A couple days later, based on unfavorable reviews at Chowhound.com, a restaurant review site, I shifted the reservations for my husband’s work dinner from one restaurant to another.

And lastly, after discovering some old friends on the social networking music site, Mog.com, and reading their raves about recent My Morning Jacket performances, I downloaded their new album.”

She goes on to note that because all these sites have one thing in common - the content is written by consumers - not editors or marketers – that carries much more weight in her decision making.

“Sites that are user generated allow consumers to get opinions and advice from each other rather than from the influences of traditional media and marketing and this will effect a radical change on how businesses conduct their business,” she writes.

She cites eMarketer CEO Geoff Ramsey, who cautions “that lack the understanding of this new paradigm where consumers have the control” will leave many companies behind.

Jim Nail, chief marketing officer for the market influence analytics company, Cymfony, says, “There is tremendous power behind consumers connecting with each other rather than merchants – that’s been the power behind the Internet - first with email and bulletin boards – and now with blogs, social networking and wikis.”

Look for Alex’s article, plus others on marketing green products, branding, eBay, and CJ’s Link Management Initiative, in the upcoming September/October issue of Revenue.

lisap@revenuetoday.com