This post explains what it is monetization and 13 examples of how to monetize videos, audio and written content online so it turns into a side hustle business.
The demand for online content is at an all-time high.
Live Streaming or on-demand; people consume content through searching online, social media, audio, and video platforms. Content in the form of:
- Blogs
- Online Magazines
- News Websites
- Vlogs
- Videos
- Podcasts
- Music
- Newsletters
But how do you monetize digital content to take advantage of this crazy demand?
I share the latest ways on how to monetize videos, blogs, and social media accounts because anyone can be a content creator just as long as your content has value and is made with intention.
What Does It Mean To Monetize Content?
To monetize is the method of turning a non-revenue asset into cash or currency.
In 2021, the most popular way to monetize is by taking digital content and turning it into a source of revenue.
There is a difference between selling a product and turning something into cash/currency, aka monetization.
To sell a product involves costs built into the product and is intended to be sold at a price generating a profit.
With monetization, you can create something that generates a perceived value and is not bound to a set price.
There are so many ways to publish content online, build an audience and create the possibility of monetization.
Let's go over 13 different ways on how to monetize video, blogs, podcasts, and social media accounts.
What Content Will you Monetize?
Monetize Your Writing
- Ad Placements- Your website has an excellent real estate space. Sell the spaces for Ad placements. This type of monetization may not align with everyone's website design or intention for the site, but check out Monumetric. A media ad placement agency that prides itself on user experience first. You can choose from a list of advertisers.
- Affiliate Marketing- Include special links within the context of your article to encourage readers to learn more, sign-up, or purchase from a company that you support. This is what Affiliate Marketing is all about. Check out this list from HubSpot on the Top 45 Affiliate Programs.
3. Sponsored Writing- Have you ever read an article that has a disclaimer "Produced in collaboration with "X" brand"? This is an example of Sponsored Content writing. This type of monetization may take time to create a following, but you don't need to be a seasoned writer to start. Take a look at this great article by Lindy Alexander on how to get started on your first sponsored content piece.
4. Paid Subscription- Your writing has monetary value, and all of your content doesn't need to be offered for free. You may have content that helps people save money, make money- you know, insider tips. Content so valuable that it should be gated behind a Paywall for people to sign up for a paid newsletter or subscription. Convert Kit is a marketing platform made for online creators. They offer an option to set up your website with a paywall system. Read more about paywalls here.
How To Monetize Videos
There is no way of getting around it. YouTube is the most popular and largest search engine platform right behind Google.
- Monetize a video, you need to have a Youtube Channel and other requirements to place ads on your videos. The very first step is to sign up for YouTube Partners. Some people may not want ads on their videos because it could hurt the viewer's experience. Check out this blog article by Neil Patel to learn other ways of monetizing your YouTube videos.
- Affiliated Links- Most video creators have a scripted CTA (call to action) at the end of their videos. They want the viewer to check out the video notes, where the affiliate links are located. A perfect way for creators to monetize their videos with affiliation to the products or services suggested during the video. YouTube allows links to be added to the video description section and on the pinned comment section.
- Streaming Live allows for video creators to engage with their audience in real-time, creating a unique user experience. Audience members can support the content creator by tipping or making a donation to their channel. Creators can add payment links to their profiles. This excellent article describes the different "tipping jars" creators can add to their profiles on Twitch, Discord, and YouTube Live platforms.
Monetization of Podcasts & Music
- Adding Affiliate Marketing to your podcast monetization strategy might be an easier and faster way to monetize your podcast, especially if you are growing your audience. You can incorporate the brands you support by suggesting them to your listeners and adding the affiliated links to the show notes. Learn more about affiliate marketing for podcasts by Simplecast here.
2. Getting sponsored by a company is a monetization option for a medium to a large podcast audience. There is usually a minimum CPM (Cost Per Millie) downloads that a podcast has to reach per episode for Ad sponsorship (a millie is a Latin term for thousand). The good news is that, on average, CPM can range from $18-$25, depending on the length of the ad. According to Eddison's research, 66% of listeners say they favor sponsors who support their podcast shows.
3. Memberships- Fans of podcasts and musicians can support them by tipping or sign-up for exclusive membership programs through platforms like Patreon or Buy Me A Coffee. By purchasing subscription tiers, fans can make direct tipping payments or sign-up for exclusive content, perks, and information from the creator.Monetizing Social Media
- Social Selling- If you built an audience interested in the products you use, make sure your Instagram account is switched to creator mode and sign-up for access to add a shoppable tag to your posts and stories. On TikTok, creators are going Live on selling products while streaming.
2. Tipping & Donations- Showing up every day and creating content is hard work and sometimes a full-time job. Your community looks forward to your content or will show up when you go live. And if your community wants to show you support, let them send donations to you. Social media platforms like TikTok and Clubhouse allow creators to add a donation link to their profile or feed.
3. Are you a "micro-influencer"? A creator with less than 1000 followers but with a very engaging fan-based community. According to a report by Stae of Influencer Marketing, 77% of marketers prefer to work with micro-influencers. You don't need a huge following to monetize your social media account.
So there you have it, how to monetize your content and 13 different ways of doing it by content form. Creating content every day can feel like a full-time job. You should reap the rewards and get paid for all of your hard work and time invested into making high-quality content.
This is one of many articles of the Create Your Opportunities series. Make sure to subscribe to the email list to avoid missing out on the next article for the series.
