Hey,
I am running a social network for my local area right now - I am planning on expanding it doing it for other cities in my country and was hoping to get some help on what would work best for social network sites as well as position.
I have just been using adsense and using a 468*60 banner in the header, I wasn’t planning on making much from this but I am starting advertising / promotion soon so hoping I could do something that would make more revenue.
Appreciate any help 
Thanks!
Social Networks are not good at getting search traffic. Try to improve your sit’s visibility and content in a way that brings some good google juice.
As for the revenues, don’t worry about it till your site has established a decent member base.
I don’t agree with the first statement. One of the most effective method in driving traffic to your site is indeed social network. But the effort is much more demanding at the start as compared to other method. Once your network is established, lesser demand is inherent. As others say it, Social Networks are for patient experts.
The best method i know to build a social network: start a blog, add lot of content and blogs are easy to promote than social network sites. Once your blog is grown reasonably - turn your blog into a social network site bringing all readers into members…You could even start a blog now specially to promote your social network site !
Hope this method works however, it takes time and pays for the long term…