Content monetization platforms are complex. Identifying the best one for your digital publication that supports your needs as a creator can be a challenge. Even if you have a clear vision of what your requirements are, execution can still be demanding.
Eventually, every publisher will look for content monetization opportunities, so whether they run a digital magazine, website, or blog. The content is more important than ever now and the prospects of money-making are greater. Publishers have added another latitude namely digital along with traditional means of publishing. This addition is partly to generate new monetization opportunities.
When you sit down to brainstorm content monetization ideas, you may wonder why people would pay to read content on the internet when otherwise it is available freely. Research shows that the statistics have changed. In a post-pandemic world, readers will pay for content consumption.
6 Guaranteed Ways to Earn Money as a Publisher
1. Paywalls
A paywall is an approach to get revenue by adding a “wall” (reducing access) to the content via paid subscriptions. Simply put, if the readers want to read more content, they have to pay. The paywall has proven potent for publishers, whether it is a well-established domain or a niche field. Building trust amongst readers by generating high-quality content is crucial to earning money out of paywalls.
A few examples of publishers that use paywalls are The Washington Post, The Wall Street Journal and The New York Times. Publishers using paywalls allow a limited amount of free content and then block access if the reader attempts to read more.
You can put a paywall on the entire website or just a part of it. Publishers can opt for a hard paywall, a soft paywall or a metered paywall.
2. Advertising
Advertising falls under traditional means of content monetization. In 2014, the fall in print publishing affected print advertising, but meanwhile, that gave rise to digital subscriptions. Online advertising can be a risk because of AdBlock software, however, the online ads fit seamlessly into the content and are non-distractive.
How to monetize content using ads? A publisher can integrate Ad units or HTML codes into their website/blog through ad providers like Google AdSense, PropellerAds and so on.
While placing ads, keep in mind to not exaggerate to keep the traffic intact.
3. Affiliate marketing
Affiliate marketing is one of the simplest ways to monetize content for publishers. Revenue generation happens when a reader clicks on the referral links and when a purchase is made using the referral link. The reward in affiliate marketing is the least because of the difficulty in persuading readers to first click on the links and then convert them into customers.
Affiliate programs can be an additional means to earn money as a publisher. You cannot heavily depend on it, therefore it is recommended to make it supplementary.
They are excellent for people with a non-technical background. The execution is straightforward; the publisher markets the brand and adds a referral link and earns a commission if the requisites are met.
One of the most popular affiliate marketing providers used worldwide is Amazon Associates Program.
4. Sponsored content
Sponsored content is when a brand, company or fellow publishers ask you to publish their work on your website for money. Although big platforms such as Forbes or Huffington Post use this technique majorly, even independent bloggers use this type of content monetization in their websites. This technique is followed for generating backlinks. Brands approach websites or blogs with high traffic and a decent DA to publish a sponsored article with a do-follow link. Some companies look after backlink building by producing and providing sponsored articles to bloggers.
Forbes and Huffington Post use this method to drive revenue along with traditional advertising. Brands looking at promoting themselves on a popular website pay to be featured. This becomes a win-win situation for both the publisher and the brand.
5. Membership
Membership is one of the most popular ways of earning money as a publisher. It is more than just a subscription. Memberships also offer other perks to the readers such as discounts on merchandise, eBooks, guides, free stock photos, free entry to events/webinars. It is community building at a deeper level and gaining readership for the long term. Memberships allow readers to go beyond conventional content consumption and offer benefits.
Should you consider membership? This approach is excellent for publishers with a decent amount of readership. If your website is a trusted source for many, then you can try this approach. An example of a publisher using memberships for content monetization is National Journal. Along with news, they share solutions, tools, and other helpful resources.
If your website is yet to reach that point, wait until it is. Remember, establishing a membership community is an incremental process and will take time.
6. Direct selling
Another means of content monetization for publishers is through direct selling, so whether it is as products or services. One way to earn is by selling merchandise such as t-shirts, bottles, notebooks. Another is by providing informational materials as audiobooks, podcasts, eBooks, guides, online courses, and tutorials.
The key to being successful at direct selling is either by being a well-known publisher or providing insightful content that is of high quality. Publishers can earn money by selling guides on content monetization platforms such as Retrieve, Skillshare, and Patreon. These platforms work on the pay-to-access model. Your readers pay to get access to exclusive content.
Direct selling is a favorable content monetization option for publishers as it involves creating content once and selling it for years.
Final word
If you monetize too early in your publishing journey, the chances of disappointment are higher. Earning money via your website is a gradual process. You need to build trustworthiness amongst your readers, generate content that is insightful, informational, and relevant. Content monetization first requires an understanding of what content you must publish, how to drive in traffic, and once a brand of high quality is established, you can monetize.
However, for smaller publishers who are in the interim of arriving at that stage, you should not lose hope. With content monetization platforms such as Retrieve, which provides tools for creators to make money of their content without having its own algorithm that needs to be fulfilled, earning money at the initial stages of publishing is easy.
Check out Retrieve.com and start monetizing through exclusive content such as guides and videos tutorials.
