INSIGHT, INSPIRATION, IMPACT!

8 Ways to Monetize Your Writing

Medium makes it possible.

I’ve been writing for over a decade, but that’s beside the point. When I discovered writing, all I wanted to do was…write!

So, I wrote and wrote until I actually produced a manuscript that led to my first novel. The only problem at that point was that I had no idea what to do next.

I pitched that first manuscript to well over one-hundred traditional publishers.

The good news was that some — okay just a handful — actually responded; most of them with obvious, pre-written denial letters designed to provide a courteous way of saying ‘no’ while keeping me encouraged to continue writing. Now, as much as I enjoy writing, I actually wanted to publish.

The silver lining (there’s always a silver lining) was that I was in fact denied…but not discouraged.

So, I took the denials in stride and learned how to create my own independent publishing company, and ultimately published that first manuscript myself. By the way, I still had absolutely no idea what I was doing and actually had to take a break from writing to self-educate, incorporate, and learn how to be an independent publisher.

It’s been said that you’ll either spend time or money to ascend the ladder of success. I didn’t have much money, but I had some time. So, with time as my ally, I set out to build my publishing “empire”.

To make a long story short, I ended up creating an independent publishing company (which almost anyone can do once they set their mind to it) and published that first novel. To top it off, the book went to number one on the Amazon best-seller’s list in the thriller genre where I joined the ranks of more seasoned writers like Vince Flynn, Lee Child, and others. Not too bad for someone with no prior publishing experience.

Fast forward and, after publishing five books, writing several blogs, creating an online course, and syndicating my own podcast, I found myself at the precipice of yet another interesting opportunity to support my passion for writing — Medium.

For the life of me, I can’t recall how I discovered Medium, but I’m certainly happy I did. After years of “blogging for no one” as it seemed, I finally discovered a community of writers and readers that have conveniently gathered in a common space of passion and purpose. There are so many interesting, intelligent, determined, talented, and inspiring people in the Medium community that support and engage with one another that it’s almost euphoric. Top all that off with the fact that a writer can actually monetize their content, given the reach and resonance with others in the space, is not something that any writer should ignore.

Despite the fact that it took me more than a year to figure out how to leverage the Medium space — for reach, resonance, and rewards — I’ve discovered a way to monetize the words, thoughts, and ideas I have to share with the world.

• As a writer, I’m driven to write.
• As an entrepreneur, I’m encouraged by the opportunity to monetize.
• As a personal development coach, I’m compelled to pay it forward.

So, welcome to the “pay-it-forward” aspect of my purpose and passion as a writer.

Cracking the Code

If you skipped straight to this point, you’ve missed the journey. But we can still get there from here.

Sadly, not everyone who writes in the Medium space makes money. I should know. As I mentioned, I spent a year on Medium before I discovered a few simple tips that changed everything. Now, I’m not going to tell you that I’ve been able to quit my “day job” with all the money I’ve made on Medium. Nor will I attest to having figured out how to join the “six-figure club” while living a life of carefree luxury. What I will tell you is that I have experienced a breakthrough. After all, it is the breakthroughs of life that lead to personal growth, continued learning, and true happiness.

I remember when I first monetized my writing on Medium. I actually earned a whopping $.36. Yes, thirty-six cents. And I earned that during the first month after I discovered the tips I’ll share with you below.

If you understand the nature of earning that thirty-six cents, you have the mindset it takes to begin to monetize your writing as well. You see, it wasn’t the amount of money that was important. It was the breakthrough. I have found that, once you discover a way to break through any barrier, things increasingly become easier over time. The reason they become easier is that the learning curve begins to recede and the rate of your understanding increases right alongside it.

So, here are your tips to monetize on Medium. Of course, these tips are not all-inclusive. In other words, there are so many other excellent ways to chart a course to your goals on Medium. Spend some time doing the research and you’ll be pleasantly rewarded. The following tips are but just a few that had the most significant impact on my breakthrough.

1. Whatever you do, do it well

If you’re going to spend time writing, do it to the best of your ability. The more time you spend writing, the better you’ll become.

Even experts make mistakes. After all, we’re writers, not editors. Despite that, however, you should strive to craft an enjoyable reading experience for your reader. An article peppered with errors and fragments will only frustrate your reader base and will result in a poor return on the investment of your time.

2. Stay in Your Lane

Write content that inspires you. Trust me when I say that your readers will be able to tell whether you’re in harmony with your writing or not.

If you’re writing about a topic just because you think it will result in a lot of “applause” and followers, it won’t end well for you. By the same token, feel free to make your lane as wide as you’re comfortable with. If you’re passionate about a few diverse topics, write about them all as the inspiration strikes. Of all the really neat things about Medium, one of the best is that almost every topic has a ready and willing readership base just waiting for you to publish.

3. Your First Goal

Strive for 100 fans.

You don’t earn money from followers on Medium. You earn money from fans. I’ve seen writers with thousands of followers who earn very little money and writers with only a few hundred followers who earn substantial money.

If you don’t know the difference between a fan and a follower, check out this article by Casey Botticello. Knowing the difference helps bring a bit of clarity to your first goal. The best way to reach this goal is to write compelling content that resonates with a lot of people. But how do you reach “a lot” of people? For that, see the next tip…

4. Turn Your Followers into Fans

One of the most sensible ways to create fans is to build your followers.

To be honest, I don’t stress one bit about “how” to create a fan. In fact, I’d go so far as to say you have very little to do with creating a fan aside from writing great content. The best way a follower becomes a fan is through a resonance they have with you and your content. So, create compelling content and engage with your followers.

Your stories earn money based on reading time by the Medium Partnership Program (MPP) members. So, if accounts with no “green circle” around the profile picture are reading your articles, you won’t earn any money from their interaction (applause). The top money-making writers of Medium recommend your target reading group to be from the MPP members.

Remember, the primary goal is not to acquire views, claps, or brief comments but to focus on reading-time to earn money. Top earners tell us that popularity doesn’t necessarily bring money in like reading time (engagement).

A great indication your audience is engaging with your content and spending time with you is when you receive feedback that your readers are highlighting your articles. Medium algorithms love engagement. When your reader highlights a line or a passage, they are engaged by the experience you’ve created for them. After all, it is the experience we wish for others to have with our insight, ideas, and intuition that we ultimately aspire to create.

5. Connect with Your Followers

Top earners in the Medium space are pragmatic, risk-taking, and reader-focused writers. So, take a tip from them and stay reader-focused. I personally strive to answer every comment and quite often find myself being drawn to the articles of my engaged followers, even as they grow in numbers.

Remember, there is a person behind every article. Drop in and check out their content as much as you desire for them to do the same for you. When it starts to become impossible to do this (and it will if you’re growing), make it point to select a few followers a day to engage with.

For some of us, our story views, claps, and comments can be excellent indicators but they don’t necessarily help us earn money. However, the feedback can affect our earnings potential by creating further visibility to our stories.

6. Join the Medium Partnership Program (MPP)

A $5 monthly investment can make a real difference in your earnings power on Medium. If you’re a writer and not part of the MPP, the chances of you earning money aren’t as likely as it is for MPP members. The main reason is the limitations placed on non-members in terms of reading allowance.

7. Level Up

To earn money on a sustainable basis, your content needs to appear in front of as many readers as possible. This is should be part of your long-term strategy for sustainable income. To accomplish this objective, you should aspire to write for a well-established and collaborative publication. Medium has plenty to choose from. These publications are ready, willing, and able to help your content gain the visibility you’d otherwise find to be difficult to create on your own.

Don’t forget to leverage your other social media platforms to invite readers to connect to your Medium platform. Posting links to your Medium stories on other social media and professional network sites can be useful to enhance your exposure (and income) goals.

8. Stay Consistent

Consistency helps shape the expectations of your readership. It also helps you to improve as a writer. Writing a few stories on an ad hoc basis won’t create the kind of income you likely strive for. Medium algorithms are smart enough to recognize stale content. So, keep those algorithms (and your readers) happy by creating fresh, engaging content.

Every writer aspires to appeal to a large and diverse audience. Making money is one of the results of appealing to a broader audience. If your objective is to make money with your writing, Medium can support those objectives. Persistence through execution of your passion and purpose, aligned with the right construct, are essential elements that’ll bring you precisely what you’re looking for.

Here’s to living Your Best Life through the execution of your writing passion!

For a FREE copy of my personal development book, Fear Is a Thief, visit my website: garywestfal.com, scroll to the bottom of the webpage, and pick up your copy!