Monetization – “to convert something to money”
In Internet terms monetize refers to finding a way to generate income from items posted on the Web. In simpler language, earning money online through your blog or website is called monetization.
There are many ways to convert your blog into a money making machine. So, if you want to make some serious money from your blog we need to understand the mechanics of monetization. You can earn money blogging, which isn’t the only option to make money online. Since this blog is about blogging and earning money from blogs, we would talk about making money from blogs alone in this post.
There are two broader ways to monetize your efforts.
- Direct Moentization
- Indirect Monetization
Direct Monetization – As the name suggests this online money making option involves and revolves around your blog or website. The money is made from your blog as a medium.
– You can display advertisements from advertisers directly or use one of the mediators like adsense
, etc. to display advertisements on your blog. There are lot of advertising options to choose from.
Sponsorship – When there are sponsors who are willing to sponsor your blog and take a space for themselves to display their message. The message can be an ad or a campaign from a website or a product.
- This is what you gain when you are willing to promote a product or a business through your blog. Amazon
has affiliate programs where you partner with amazon.com and sell their products through your website. You can take a commission on the products sold.
Paid Reviews - This is a model of monetization where the blog owners are willing to write about a product or a website in exchange for dollars. This is very effective way to make money from your blo provided the blog features with good page rank and has intriguing articles which pulls people to the blog.
Indirect Monetization – This type of monetization involves your expertise in making money online and the medium you own does not really play a role. When said that the medium does not play a role I would be entirely wrong because the below mentioned making money options are only the by product of your medium. You’ve gained expertise through this medium that will be used in indirect monetization.
Freelance writing –
This is a way where you write guest posts on website that calls for your writing expertise. This way you will make money everytime you write an article as a guest writer. There are a lot of websites which let you be a guest write and pay you for the articles you write. Examples: freelancewriting.com
, world wide freelance
Book deals – With your expertise that you gained by blogging you will be fit to launch a book on any niche. A tenured blogger would have a great flow of words and this is an advantage to a writer. Writing a book and launching the same should not only allow you to make money for the launch but also pay you royalty for the entire duration.
Consulting – This is another way of earning money online by extending your expertise to help upcoming website owners and bloggers by way of consultations. You sure would be aware as to how much a consultant is paid irrespective of the speciality.
Speaking/ conference – This also is similar to consultation but for the masses, arrange for a conference or a workshop and share your knowledge of blogging for a price.
Potential for making money online is great, we only need to be sure where and how we use our knowledge to make some money. Don’t be left out in the rush to earn some cash.