monetize

Vocabulary Word

Definition

'Monetize' is all about making money. It describes how you turn something you have into a source of income or profit. For example, if you have a website, you can monetize it by running ads.

Examples in Different Contexts

Digital creators and bloggers can monetize their content through advertising, sponsored content, or subscription models. A content creator might say, 'I've managed to monetize my YouTube channel through affiliate marketing.'

Practice Scenarios

Product

Scenario:

Our premium feature is not being utilized as expected by users, we should explore more opportune ways of earning from our product.

Response:

You're right. I propose we monetize this product by forming partnerships with other brands and industries.

Creative

Scenario:

Your latest book has received wonderful reviews. However, we need to rethink how we're selling this piece to ensure you are maximising income.

Response:

I couldn't agree more. I have ideas on how to monetize my book better, like releasing a hardcover edition.