You’ve probably heard that you can make money Medium, but how does one actually do that? How do you find people who are willing to pay you for your writing? These answers and more are in this article, a comprehensive guide on how to make money on Medium .
From finding your niche and building an audience to choosing the right monetization strategy and earning from ads, we’ll cover it all here. Whether you’re looking to make passive income or change your career completely, keep reading for all the tips and tricks you need to succeed!
Make Money on Medium Writing Articles
There are many benefits of publishing articles with money as your motivation, not least of which is freedom from advertising. Unlike blogging, publishing here will get you paid and maybe even paid well (in my experience).
You can write about anything that interests you and publish it whenever you want. Here’s how I make publishing articles on Medium: I ask people if they would pay for what I’m writing about; if they say yes, I ask them how much; then I make an offer to do it at that price. That doesn’t work in every case so here are some other methods: If there’s a company or organization involved, pitch them directly through email.
Selling Subscriptions to Your Audience
After accumulating a following of loyal readers, how can you monetize them? One strategy is to market directly to them. When you write about topics your audience is interested in, you’re offering valuable information that’s relevant to their interests.
And when it comes time for your audience members to buy something—be it an ebook, coaching package or something else—you’ll have an existing relationship with them that they trust. These established relationships make it easier to attract new customers and sell more products than you would otherwise have been able to do.
Start a Podcast
What started as an alternative to blogging, and something that took off within a year of its inception, podcasting has established itself as a legitimate way to make money from home. If you have some editing skills and can speak about your area of expertise in an engaging manner, consider starting a podcast as a side business idea.
When you host your show (either by yourself or with others), you earn advertising revenue based on number of listeners, number, etc. If speaking isn’t your thing, that’s okay too.
Start an Online Course and Make Money on Medium
Teaching others is a great way to earn passive income and potentially build a community of loyal followers. If you have expertise in something, like marketing, business development or another technical skill, you can sell online courses. Sites like Udemy and Teachable make it really easy to create an online course, market it, and get students. Here’s a guide on how to make money online with an online course.
Start an Online Store and Make Money on Medium
Starting an online store is no easy feat, but it’s a smart way to make money online. The tricky part is getting your store up and running. Many entrepreneurs skip important steps in their rush to get started. Here are a few important things you should know before launching an online store The first thing you need to do is register your business with your state or local government.
It’s also a good idea to file for an Employer Identification Number (EIN) with the IRS, as well as any other licenses or permits that may be required by your city or state. Once that’s done, you can begin setting up your store.
Be sure to set aside enough time for all of these tasks—you don’t want to rush through them if they’re not already second nature! Remember: just because you’ve launched doesn’t mean you’re finished! You’ll still have plenty of work ahead of you after going live with your website, so don’t let yourself slack off now just because there’s one less thing to do!
Using Affiliate Links
One way of making money off of your writing is through affiliate links. If you’re an aspiring writer, it’s good practice to always link out to products that you talk about and recommend. That way, if someone clicks through one of your links and makes a purchase, you can earn a small commission.
For example, imagine if I wrote a post recommending Smith’s Rosebud Salve, which retails at $7 at most online retailers. If I linked out to Amazon (and didn’t have an affiliate account), I would receive no monetary benefit from any purchases made by my readers.
Write a Book
Yes, if you really want to make money with your writing, you have to write a book. The good news is that it doesn’t have to be a novel. In fact, most books make money through nonfiction e-books. This gives you an avenue in which you can write about what interests you (traveling abroad, healthy living, etc.) and turn that into an income stream.
Just remember: Write in a niche market. If everyone else is writing about travel abroad, carve out a unique angle that will set your work apart from theirs (and give yourself something interesting to say). Also: Write regularly.
If you want to make money with your writing, starting your own website is a great option. However, if you don’t have time for that, blogging on sites like Medium can help supplement your income. Even better? You’ll have a guaranteed readership of several thousand people per month (at least).
With potential revenue opportunities ranging from banner ads to sponsored posts, there are countless ways to make money as a writer online.