Monetize is a common word in internet parlance. But it can often be the hardest part of turning a hobby site into a resource that can make you some money. Whether you’re running your site for a hobby or you’ve deliberately set it up as a money making enterprise, it’s always more enjoyable to make updates that you know are contributing to your income.
There are so many sites that are interesting, get traffic and provide a useful resource for their users. But the people who run these sites do so out of love, passion and in some cases, habit.
So what does “monetize” mean?
- Convert into or express in the form of currency.
- Adapt (a society) to the use of money.
We’re obviously looking at the first of these, unless you’re a dictator in an underdeveloped nation (and if so I think you should be looking elsewhere for advice).
It’s a way to convert the value of the content you provide for your users into an income for yourself. It’s essentially a fair trade of knowledge (content) for money.