- Introduction To Medium Monetization and Revenue Growth
- What is Medium?
- Where Does Medium's Revenue Come From?
- How can you make money on Medium?
- Determine your goals for using Medium.
- Choose a membership plan.
- Set up a payment account.
- Start reading, writing, and recommending stories.
- Find your niche and write about it.
- Join the community and network with other writers.
- You can make money writing on Medium!
Introduction To Medium Monetization and Revenue Growth
In this article, I will be sharing with you ‘How To Make Money on Medium'. It's been nearly a decade since Medium founder and former Twitter CEO Evan Williams launched the popular blogging platform with millions of users.
Over the years, it has evolved from a simple blogging website into a publishing platform for individuals, which offers writers the opportunity to make money for their stories.
If you're interested in making money online with Medium, follow these steps:
What is Medium?
Medium is a publishing platform just as I mentioned earlier, and it's owned by Twitter. It was founded in 2012 by Evan Williams, the co-founder of Blogger, Twitter, and Odeo. The website has millions of readers from many countries who come to read articles written by professional writers and amateur writers alike.
You can write for free on Medium or you can monetize your content and earn passively from it. You can make money from advertising, subscriptions, memberships, and selling your content on their marketplace to other users such as publishers or brands.
Where Does Medium's Revenue Come From?
In general, the main sources of revenue for Medium are:
- Membership fees
- Amazon affiliate links (this includes when an author creates an Amazon link in their article that they don't create an affiliate link)
- Affiliate links (when you write a post and choose to make an affiliate link, it's likely that someone will click on the link and purchase something on Amazon; this gets tracked by Medium as revenue)
How can you make money on Medium?
There are so many ways you can make money on Medium, and they all revolve around contributing to the platform in some way.
- Writing for the platform: If you're a writer, Medium is an easy way to get paid for your work; you will make money online for writing valuable content. The company pays writers per word (between $0.10 and $0.35) depending on how popular their posts are and how long they stay on the homepage. You don't have to be famous or well-known to get paid though—you just need a nice audience and a good writing style!
- Reading content: If you read articles every day, why not get paid for it? There are several different programs where publishers will share ad revenue with readers who click through their links from inside articles published by those same publishers. You can sign up for any of these programs if you want an extra income from reading content instead of just looking at ads at the bottom of each page like everyone else does today!
- Recommending Content: This one might seem counterintuitive because part of being successful as an influencer is promoting other people's work over your own—but there's nothing wrong with recommending someone else's work if it means helping them succeed while also getting more followers yourself! And remember: when someone follows your recommendation link back into the medium's homepage and then leaves again without clicking anything else–that counts too!
Determine your goals for using Medium.
It's important to determine your goals for using Medium. Do you want to make just enough money to cover the cost of your coffee, or do you have bigger plans? Determining how much time you're willing to invest will help shape your expectations as well.
Also, consider what type of content you'd like to publish and whether it lends itself better to long-form write-ups (commonly referred to as “posts”) or shorter ones (“notes”). Longer pieces tend to get more readership and engagement on Medium, but if there's another platform where shorter posts are better received then go for that instead! You can always repurpose it later by publishing it elsewhere.
And don't forget: Not only can this be a side gig while working full-time or raising kids—it can also be an integral part in helping build up a larger portfolio that helps land jobs down the road!
Choose a membership plan.
Next, you need to choose a membership plan. You can do this by clicking on the Settings tab in the upper right corner of your Medium page and selecting Manage Subscriptions from the menu that appears.
You'll see four options:
- Basic ($5/month): 5 free articles per month
- Pro ($10/month): 10 free articles per month; access to exclusive content; priority support
- Premium ($20/month): 20 free articles per month; access to exclusive content; priority support; new features as they become available
Set up a payment account.
When you make money on medium, you will need a payment account ready to receive your earnings right? So, it's important that you set up a payment account. If you don't already have one, see my previous post on setting up a PayPal or Stripe account is fairly straightforward. You can do it in less than five minutes!
Keep in mind that some platforms such as Medium and LinkedIn require that you enter your bank account information when you sign up to be paid (through PayPal or Stripe). For this reason, it's important that you use an account that doesn't charge fees (and preferably one without maxed-out credit limits).
Start reading, writing, and recommending stories.
Now that you've got the basics down, it's time to start making money.
Read other writers' stories: Medium will show you a few recommendations based on what you've read and what other people who read your articles have also consumed. These are great ways to find out new and interesting stories from around the web—and they're also where most of your audience will be hanging out, so you'll want to spend some time exploring these recommended reads.
Write some of your own: Medium is an excellent platform for publishing longform pieces (think 10 pages or more), which means if you have a story worth telling that doesn't fit into one of those neat little boxes we call tweets or Facebook posts, this could be perfect for you!
Find your niche and write about it.
- Choose a topic you are passionate about.
- Write about something you are knowledgeable about.
- Write about something you are curious about.
- Write about something you are interested in.
- Write about something you are good at.
- Write about something you are bad at, but still want to get better at it (e.g., learning how to make money on Medium).
Join the community and network with other writers.
Join the community and network with other writers for better opportunities to make money online. Medium.com is a great place for people to get started with their writing skills. It offers many writing opportunities that can help you build a following and make some money on the side.
You can also use Medium as an outlet for your work if you're not interested in making money from your writing or if you want to build up an audience before self-publishing something more lucrative (like books or ebooks).
However, if you do decide to write professionally on Medium, there are several ways that they pay their contributors:
- Memberships: When someone subscribes to your content via membership, they will be charged $5 per month until canceled at any time.
- Ads: Ads are displayed at the top/bottom of each article page and are paid by CPM (cost per thousand impressions) by advertisers who want their ads seen by readers.
You can make money writing on Medium!
You can make money writing on Medium!
Not all writers are created equal. There's a very specific set of skills and qualities that make a writer successful, and those who possess them can earn hundreds, even thousands of dollars per article published. In this guide, we'll let you in on the secret: if you want to write professionally for Medium (or any other publication), then it's time to start thinking like an editor.
Let me know in the comments if you have any questions about Medium or my experience with it. I'd love to share what I've learned!
As always, Share this Post on Social Media!!!