This week, our class had the opportunity to listen to SFU professor Trevor Battye’s presentation on monetization. During the presentation, he talked about how he monetized his website in a way that is effective and not intrusive. On his website, he has mainly one advertisement and it would ask people to donate and support them. He says that surprisingly a lot of people do donate and are willing to support your business. The key point is to not be shy to reach out and ask for support. Asides from talking about his experiences with monetization, he also shared some of the students’ websites and explained how he would monetize them. I was lucky enough to be one of those students. For my website, since I am finance-centric, he suggests that I reach out to companies such as Capital One and Scotiabank. My reviews of their credit cards can be a path to monetization. Trevor mentions that I can show them my reviews and maybe receive a link from them where I get compensated for each referral that I provide them. This sounds like a good idea, but I think my audience is still too small.
Do I have plans to monetize?
I personally think it depends on your goals for your website and what are the tradeoffs for monetizing. Will it go from a hobby to a job? Will you lose interest in making posts because of the added pressures of monetization? For this website, I will not be looking to monetize any time soon. It is a hobby and a part of my publishing course. I am already busy enough with life and do not want to start pumping out more content just for the sake of monetizing. In fact, I highly doubt I will have time to maintain this website after this semester. This is my last semester at SFU. Beginning next year, most of my time will go toward job hunting and working toward my CFA designation. Regardless, I think monetization is a bad idea as long as you can maintain and accept the tradeoffs. If you can make some money while doing something you are passionate about, then why not?