What Does it Mean to Monetize your Website?
Saturday, June 7, 2008 at 05:23PM Brand new blog! Learn new ways to monetize, including Making Money with Blogs, Making Money with Clickbank, and Making Money with Squidoo at Online Business Buffet!
Wikipedia defines monetization as “the process of converting or establishing something into legal tender, or money”. It goes on to say that “ In some industry sectors, monetization is a buzzwork for adapting non-revenue-generating assets into those that generate revenue. Failure to monetize web sites was a problem that caused many businesses to fold during the dot-com burst. Web sites that do generate revenue are often monetized via advertisements or subscription fees”.
Monetization is a big part of The Renegade Network Marketer system. This network marketing system goes against all traditional methods of building your network marketing business by promoting yourself on the internet to get interested prospects coming to you, instead of you having to chase after them.
How does that apply to me?
The term monetization or monetizing in this instance refers to bringing in money to help pay for your expenses while you are building your social marketing presence on the internet. There are many ways to do this, but here’s a warning:
Your upline and/or MLM company might not like this method of doing business!
Why is this? What could possibly be wrong with earning a little extra money while you’re building your business? These are a couple of questions I asked at first (and still do, as a matter of fact). Here’s the answer you’ll get: If you’re spending time creating ways to make money, it will detract from the time spent prospecting for your distributors for your MLM. In fact, many network marketing companies have rules against being involved in any other multi-level ventures. And some of these monetization methods involve affiliate programs that pay on 2 levels, which many companies consider to be an MLM. Therefore, before you use this method of monetization, you might want to check on the policies and procedures for your company and see if they forbid it, or limit your income in any way if you are going to do it.
Ready to learn how to monetize? Go to the Renegade University today and learn from the pros.
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