How to Make Money on Medium
For tens of thousands of content producers when they started writing, Medium was a safe and user-friendly platform to publish articles. Today there’s more to it. Content publishers are now also making money online on this popular platform. Not surprisingly, Medium is seeing a surge in the number of its users.
What is Medium?
Medium is a blogging platform that’s open to all. It’s one of the few blogging platforms where you don’t have to be a successful writer to set up an account. Anyone can become a contributor and share views, stories and insights.
What’s more, there’s practically no limitation on topics to explore. From entrepreneurship and technology to music and food, Medium works for all kinds of content writers.
Medium has gained popularity because it keeps things simple. The platform doesn’t have any frills and as long as you adhere to their guidelines, you can make the most of Medium publications.
How Does the Medium Platform Work?
To publish your blog post on Medium, you need to sign up first. You can choose to contribute to publications of select stories or publish your own standalone posts. If you sign up using Facebook or Twitter, your connections will automatically start following your Medium account. As a content publisher, you also have editing rights.
To make money writing on the platform, you need to build your profile and get people to start following you. Medium has a membership program, which means users pay a reader’s membership fee that allows them to read and write as many articles as they like.
When a paying member reads and claps for your story, a part of their membership dollars goes into your bank account.
You can also use Medium for business. If you have expertise in a particular field as a business owner, you can use the platform to showcase your ability and of course your business.
How Much Money Can You Make on Medium?
Medium is a great channel when you are looking to make some extra money as a freelance writer. But it’s unrealistic to expect it to become full time living and revenue source. Let’s look at an example.
Suppose a paying member claps for just five stories in a month. Each author then receives $1. If the same member claps for several times over, each author receives no more than a few cents.
In the first few months when they are building their profiles on Medium, active writers make about $25 a month. By posting regularly and focusing on quality content creation, writers earn more. In numbers, top members can make about $1,000 a month.
Ways to Make Money on Medium
Granted there are not too many options to earn money on the platform, Medium writers can still start writing and increase their income. Top writers use different ways to increase their income on this platform. Let’s take a closer look at them.
Last year, Medium started paying $500 to 1,000 writers. These author bonuses were issued to writers who received the most reads, claps and follows.
As a writer, if you focus on making your content popular with your audience you can increase your chances of getting the bonus amount, too.
Another new thing Medium introduced on its platform last year was affiliate marketing.
Members get a personalized affiliate link or referral landing page. When your friends sign up on Medium and purchase subscription, you get a cut and earn money.
Medium Partner Program
Most writers leverage Medium’s Partner Program to make money.
By enrolling in the Medium partner program, you will place your content behind a paywall. Any medium member interested in your article will then have to pay for it.
Interestingly, the Partner Program also has content curators who lookout for the best stories. Stories that make the cut automatically receive higher rankings on the site’s home page, email newsletters and user feeds. This, in turn, helps content creators reach more people and increase their income.
Another simple way to boost your income on Medium is by importing stories onto the platform.
Medium’s high traffic is useful to get your content attention. This is something your own blog may not be able to provide. By transferring past stories you can maximize your reach.
Tips for Making Money on Medium
When it comes to Medium stories, you need to have a strategy so you reach more Medium members. That way, you can improve your earning potential.
Here are some tips that can come in handy.
1. Write Longer Articles
Doing a deep dive into topics that other members value is a great way to show the uniqueness of your content. This is where long articles are useful.
Another benefit of writing long articles is you can add more keywords that can help you improve your content ranking.
2. Produce Quality Content
Regardless of the topic you choose, you need to focus on quality to stand out.
Remember, Medium is an extremely popular platform and every topic sees contribution from many skilled writers. Without focusing on quality, you cannot hope to compete against them.
When creating a Medium article, proofread it properly and check if it’s readable. Does it have short paragraphs? Do the sentences have proper punctuation? Is the overall tone consistent? Asking these questions will make your Medium articles readable and interesting.
It’s also important to be consistent. So, consider posting at least one story every week.
3. Get Your Work In front of Medium Members
Like any other social content platform, Medium is all about collaboration and bringing like-minded members together. That’s why, you need to focus on connecting with Medium readers.
Follow other writers who produce content on similar topics and engage with them. That way, you will be able to draw attention to your content.
4. Pay Attention to Your Headlines
If you’re wondering how to make money on Medium, one of the first things you must keep in mind is the importance of headlines.
Unless you have an enticing headline, you cannot expect to draw people to your article.
5. Build Credibility Before Going Behind the Paywall
Even though your objective is to make more money with your articles, you cannot go behind the Medium paywall right away. Not until you have established your credibility. So, consider posting some great articles as a new writer that will entice your readers to come back for more stories.
6. Create a Strong Profile
Medium users read not just articles, but also the stories behind each piece of content. A well-structured profile tells your audience about you and what separates you from other new writers. You can include links to your own website or blogs and share why you enjoy writing. By adding useful information, you can turn Medium publication into your writing portfolio. So, make sure you spend enough time to create your profile on the site.
This article, “How to Make Money on Medium” was first published on Small Business Trends