How to Make Money on Medium

Last Updated on February 19, 2024

Medium is a platform not just for sharing ideas but also for making money through your writing. Whether you’re a seasoned writer or just starting, Medium offers a unique opportunity to monetize your passion. This comprehensive guide will walk you through everything you need to know to start earning. From understanding the basics of Medium’s Partner Program to strategies for maximizing your earnings, we’ve got you covered.

Table of Contents

Understanding Medium’s Partner Program

Medium’s Partner Program is the heart of your earning potential on the platform. It’s designed to reward writers for creating engaging, quality content that resonates with readers. When people read and interact with your stories, you earn a share of the membership fees paid by Medium subscribers.

To join the program, you’ll need to meet certain requirements, such as having a minimum number of followers and stories published. These requirements ensure that active, committed writers are rewarded for their efforts. Keep in mind that the specific criteria might change, so it’s a good idea to stay updated.

Your earnings are primarily based on member engagement. Medium looks at factors like reading time and claps to determine how much your stories resonate with readers. The more engaged your audience is, the more you can earn. It’s not just about the quantity of readers but the quality of engagement.

Creating Engaging Content

To capture readers’ interest, write about what you love and know. Your passion will shine through, making your content more relatable and engaging. But also consider what’s trending and what problems you can solve for your readers. A good balance between your interests and what’s in demand can increase your readership.

It’s not just what you write about, but how you write it. Your articles should be informative, well-researched, and thoughtfully composed. Use a conversational tone to make complex topics accessible. You’re writing for an audience that values quality and authenticity.

Your headline is your first impression. Make it count. A good headline is clear, intriguing, and gives a hint of what the reader can expect. Think about what would make you want to click and read an article. Experiment with different styles to see what works best for your audience.

Growing Your Audience

Don’t just rely on Medium’s algorithm to get your stories out there. Use social media, blogs, and newsletters to share your work. Engage in writer forums and groups related to your topics. The more places your content appears, the broader your potential audience.

Developing a consistent posting schedule builds anticipation among your readers. They’ll know when to look out for your next piece, which can increase your regular readership. Consistency also shows you’re committed and serious about your writing, which can attract more followers.

Medium is not just a platform; it’s a community. Engage with other writers by reading, clapping for, and commenting on their work. Many will return the favor, leading to more visibility and engagement for your own stories.

Leveraging Publications

Publications can dramatically increase your reach on Medium. They have built-in audiences looking for content just like yours. Getting your work featured in a publication can lead to more exposure, more followers, and ultimately, more earnings.

Medium has publications for nearly every topic imaginable. Spend time exploring them to find where your writing fits best. Consider the publication’s focus, audience, and the type of content they typically publish. This research will pay off when you find the perfect home for your stories.

Make your submissions stand out by tailoring them to the publication’s style and guidelines. Engage with the publication by reading and commenting on their stories. And don’t get discouraged by rejections. They’re a part of every writer’s journey. Learn from any feedback and keep trying.

Optimizing Your Stories for Medium’s Algorithm

Medium’s algorithm is a bit of a mystery, but it’s known to favor stories that keep readers engaged. It looks at factors like reading time and reader interactions. The more people read and engage with your story, the more likely it is to be recommended to others.

Engage your readers by writing interactive content. Ask questions, encourage comments, and invite readers to share their experiences. Respond to comments to keep the conversation going. The more you interact with your audience, the more engaged they’ll become.

Use relevant tags to help readers find your story. Write a strong introduction that hooks readers right away. Break up your text with subheadings, bullet points, and images to make it more readable. And consider the best times to post when your audience is most active.

Diversifying Income Streams

The Partner Program is just one way to make money on Medium. Consider other income streams to maximize earnings from your writing. This can include affiliate marketing, sponsored posts, or selling products and services related to your content.

Affiliate Marketing: If you mention products or services in your stories, affiliate marketing can be a lucrative option. Include affiliate links in your posts. When readers purchase through these links, you earn a commission. Just be sure to disclose that you’re using affiliate links to maintain transparency with your audience.
Sponsored Content: Companies may pay you to write about their products or services. This can be a great way to earn money, but ensure that sponsored content fits your style and interests. Always disclose when a post is sponsored to maintain trust with your readers.
Selling a Service or Product: You promote your service or product directly on your post or indirectly via an email list. An email list allows you to promote new stories, share exclusive content, or sell products and services. It’s a powerful tool for building a loyal audience and diversifying your income.

Medium Alternatives

If you’re looking for alternatives to Medium’s Partner Program to earn money by writing, there are several platforms you can consider.

Vocal Media: Similar to Medium, Vocal Media offers built-in monetization. It pays you based on the number of reads your articles get, and you can also earn tips from fans and participate in writing challenges with cash prizes.
HubPages: A direct comparison to Medium, HubPages has a built-in monetization program. You can earn money based on page views and through affiliate marketing with their Amazon program. It’s a good option if you’re looking to cover a variety of topics.
Steemit: Unique for its use of blockchain technology, Steemit rewards contributors in its own cryptocurrency, STEEM. The earning potential is high, based on user engagement with your post. However, it requires familiarity with blockchain and crypto.
Substack: This platform allows you to create and monetize email newsletters. You can build a loyal readership and diversify your income through subscriptions and donations, keeping 90% of the subscription revenue. Substack is ideal for writers who want to establish a direct relationship with their readers through newsletters.
Ghost: This platform mixes elements of Medium and Patreon, allowing writers to create a website, publish blog posts, send out newsletters, and sell premium subscriptions. It’s suited for those looking to build an exclusive community and provide premium content.
Newsbreak: Ideal for local news and lifestyle content, Newsbreak offers a platform for local writers. You can earn money based on views and followers through their content creator program.
Creating Your Own Blog: Starting your own blog gives you full control over your domain and content. You can monetize through ads, affiliate links, sponsored posts, and more. This option requires more effort but offers great potential for income and full ownership of your content.

Conclusion

Making money on Medium is a realistic goal for writers who are willing to put in the effort. Understand the Partner Program, create engaging content, grow your audience, leverage publications, optimize for the algorithm, and consider additional income streams. Be patient and persistent. Success may not come overnight, but with dedication and hard work, you can turn your passion for writing into a profitable venture. So start writing, keep learning, and watch your Medium journey unfold. Your voice is unique, and there’s an audience waiting to hear it. Happy writing!

Michael Hayes

Michael Hayes is a seasoned financial expert with a passion for empowering individuals to achieve financial freedom. With over a decade of experience in financial planning, investing, and debt management, Michael has helped countless individuals navigate the complexities of personal finance.