How to Make Money on Medium
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How to Make Money on Medium
For some people, writing is a form of self-expression. It’s an outlet where they can tell their own story, pour out their sentiments or create a fictional story far from their own reality.
For other people though, writing has become a source of income. They have used their gift of crafting words to compel their readers and receive huge paychecks. Some have even quit their job to become a full-time writer and earn a six-figure income.
Is it possible to make money while following your passion for writing and self-expression?
The answer is absolutely YES!
Medium is a platform where you can express your vivid imagination and wild creativity through words and make money in return.
If you’re wondering how to make money on Medium, this article will pave you to the right way.
What is Medium
Medium is an online publishing platform designed for writers to explore their creativity. Just like their tag line that says, “where words matter”, the platform encourages the world’s most insightful storytellers, thinkers, and writers to translate this fresh thinking and unique perspectives into words.
The platform was developed by Evan Williams who is a co-founder of Twitter and Blogger. It was launched in August 2012 and was initially designed as an outlet to publish documents and writings that are longer than the maximum characters allowed on Twitter. It’s a place where “everyone has a story to share and the best ones are delivered right to you.”
Unlike other platforms that maximize the size of their audience, Medium focuses on optimizing the time that these audiences spend on the site. It reaches 60 million unique monthly readers as of May 2017.
Medium is a beautiful platform to write and reach a wider audience. And what’s even great is that it’s for the readers too! It’s a place where someone hungry for words and unique stories can explore and have their fill.
Pros and Cons
Clearly, no one would deny the importance of content in this era of digital marketing. Almost all companies have blogs nowadays.
Medium has already established huge and loyal followers. It’s no wonder many aspiring bloggers cling on this platform to grow their reach. Just like every platform, Medium carries its own share of benefits and drawbacks. Learn the pros and cons first before deciding if this is the right platform for you to make money online.
- Content management system – Medium’s CMS is user-friendly. Moreover, content looks prettier on this platform which adds to the readability experience. In addition, the platform displays the estimated reading time per post. All these factors contribute to a positive reading experience.
- Wider exposure and views – With its more than 60 million visitors per month, the possibility of reaching a wider audience is simply limitless. It’s a good platform that offers your blogs and stories the possibility of attracting as many readers as possible.
- SEO Ranking – This platform generates several backlinks on a regular basis. More importantly, your SEO ranking won’t suffer if you don’t get to post regularly.
- Useful Tags – You can reach a wider target audience by using relevant tags on your stories. Additionally, you can use tags to find topics that are interesting and engaging for the readers.
- A one-size-fits-all platform – Medium does not give you much control, especially on how you would like your content to appear. There’s really nothing much you can do if you like things differently.
- Not a stand-alone – Since the Medium community is still quite small compared to other social media platforms, it should not be used as a stand-alone in reaching a wider audience. You may need to use other platforms to promote your blogs.
- SEO Traffic geared on Medium – If your blog is gaining popularity and gets visited frequently, you’re helping the SEO ranking for Medium. Instead of going to your website, the traffic goes to your Medium account.
How to Get Started with Medium
You don’t need to be William Shakespeare nor J.K. Rowling to get started with Medium and use this platform effectively.
Getting started is pretty quick and easy.
If it’s your first time using this platform, then you must create an account first. Go to the website and click on “Get Started”
There are 3 ways for you to create an account. You can either sign up with Google, Facebook or your email. If you want to grow your followers, signing up with Facebook is a wise choice. All your Facebook connections who have an account with Medium will automatically become your followers.
After creating an account, add a profile picture and write a short bio with a maximum of 160 characters. Customize your profile URL for your followers to easily remember and locate your profile. Follow relevant people, tags, and publications to discover great content on Medium.
Can You Make Money on Medium?
Yes, Medium is a platform that allows you to post an article and get paid immediately.
The amount each writer earns in Medium varies widely. If you’re putting enough writing effort, it’s easy to make $100–$500 per month. If you’re consistently making content that is highly marketable, then it’s possible to make $500-$1,500 per month. You could potentially earn $2,000–$25,000+ per month if you manage to produce multiple curated articles per day, develop huge followers and repeatedly featured in Medium’s own publication.
How to Make Money on Medium
You have probably been wondering if you can really make money on Medium.
While the platform offers an excellent opportunity to hone your writing skills and connect to a wider audience, does it also offer the same opportunity in growing your savings account?
A lot of us probably know Medium as a platform to share your thoughts with your readers. While this is still true, Medium has certainly evolved. Nowadays, writers can make money on Medium easily. The Medium partner program has made it possible for a lot of people to make money on this platform. If you want to put your writing skill into good use, Medium is the right platform for you to showcase and improve this skill while earning money at the same time.
How can you make money through the Medium partner program?
Aside from posting your stories, you can also put it as “locked stories”. These stories are only accessible to medium members who are paying a subscription of $5. You receive a percentage of this membership fee if someone reads your story. You can also earn money when someone claps your story. A Medium clap is equivalent to Twitter or Facebook likes.
Here are some ways on how to make money on Medium.
Write Good Quality Articles Regularly
If you have excellent writing skills, then you definitely have an edge in this platform. Readers are always on the lookout for good reads and you can easily make money when you can satisfy this need.
What’s even great about Medium is that you won’t have to kill yourself with writing too many articles. You won’t need a 100-page either. All you need is a content that is not only informative but also written in good quality.
How can you make money out of your articles?
First, look for a problem that is commonly experienced by a lot of people. Then do your research and find solutions to this problem. Lastly, craft a concise and informative piece that identifies the problem and offers the solution. You are more likely to grow your followers if you’re constantly posting articles that add value to their lives.
Aside from this, write articles that many people can relate to. Most readers are always looking for validation. Articles that give them a sense of familiarity are always a hit.
A larger audience means more claps. Of course, more claps is equivalent to higher earnings.
What topics should you write?
You can pretty much choose any topic. But before doing so, make sure that you’re packed with tons of knowledge and experience on the chosen topic. You would want to establish as someone that is an expert in the niche. Reading and tons of research are also a big help in creating a comprehensive and informative article.
In addition, find out topics that are currently trending. Remember that Medium counts not how many visitors check your story but how long do they stay reading your article. Offer articles that would catch the attention of your readers. At the same time, it should be informative and entertaining enough to make them glued up to the last word.
To put you on the right starting mark, here are some of the most popular topics on Medium:
- Artificial Intelligence
- User Experience
- Personal Stories
Promote Your Own Website
A personal blog is an excellent way of earning a passive income. You’re making money even when you don’t spend too much time or money on it. Your personal blog or website offers tons of money-making opportunities.
Earning money through your own website does not happen overnight though. First, you have to drive enough traffic to your website. This is where Medium can come in. A lot of companies are now using this platform to drive traffic. It is one of the hottest content platforms today, making it a good business model. You should know how to leverage this platform to get more visitors on your own website.
How can you drive traffic from Medium?
Simply follow these tips:
- Republish your content – Medium allows you to republish previous posts to the platform.
- Engage with influencers – Influencers have tons of subscribers patronizing their content. Obviously, you would also want these people to read your content too! Build a valuable relationship with industry influencers to gain more followers and traffic to your website.
- Comment on relevant articles – If you want to be discovered, commenting on other articles can be a great help. Make sure that your comments are insightful and relevant and not just “Good article, keep it up!”
- Post content to Medium Publications – Submit your article to publications. Being published in these publications gives an opportunity for your article to be read by a lot of people.
- Engage in social media activities – Share your Medium posts on social media. The first 24 hours of your post is crucial. You should get more claps within this timeframe to be recognized by Medium’s editorial board.
In affiliate marketing, many creators utilize platforms such as YouTube, podcasts, and blogs to establish huge followers and then market their products and services.
Medium can also be used as a content platform for affiliate marketing!
Though you may not be able to promote products directly on Medium, you can use the platform to establish your name and brand. Then, you can direct your readers to your website where you can promote your products through content-marketing funnels. Also, create articles using well-researched keywords to gain more traffic and attention.
How much money can you make on Medium through affiliate marketing depends on the product that you are promoting. It also depends on the brand that you have chosen to work with. You can earn a rough estimate of 1% to 45% of revenue for each sale.
Just make sure that you have full disclosure when your article contains an affiliate link. Otherwise, you are risking the possibility of getting penalized. Even more, Medium could force you to remove your content or even close your account.
Medium is a platform that offers so many opportunities for writers.
It provides an arena for them to share their stories to wider audiences. It also encourages writers to strive for quality and excellent work if they want to be discovered and gain large loyal readers. More importantly, it’s a platform where writers can establish their brand and make money in return.
Regardless if you’re trying to make money on or off the platform, the quality of content is still very important. Always offer your readers good articles that are not just entertaining but would also add value to their lives.