After so much discussion and waiting, users of Quora now can monetize their accounts and earn money from Quora. Yes, you heard it right. Quora started to monetize their platform, so users can now get something in return for their valuable answers.
In the recent press meet, Quora declared that they are launching a monetization option under Quora spaces. They are offering three payment structures to its space users.
The three monetization options are the Space subscription model, Quora+ revenue sharing, and Ad revenue sharing model.
Space Subscription Model:
If you’re running Quora spaces, you can start a subscription model under your spaces. You can now offer paid subscriptions to your followers. So, when they want to read content from your space, they have to pay you the subscription fee. Without paying the subscription fee, they only can access the free content from the space.
Subscribed users can view both free and paid content from the space. Space owners will get the money directly under their Quora account, which can be transferred to their respective Stripe account later.
Quora+ Revenue Sharing Model:
With the Quora+ revenue sharing option, Users can increase their earnings. Quora+ is the upcoming project from the Quora team that will be only accessible to the premium users of Quora.
To become a premium user in Quora+, you have to pay $5 monthly or $50 annually to Quora. Space owners can earn profits when premium users visit and read content from the space.
No other charges will be billed to the premium users. And space owners can earn normally from their premium subscription with Quora.
Ad Revenue Sharing Model:
Ad revenue sharing is the third option to the space users for monetizing their content. Quora now shows relevant ads on their site. You can see both Google Adsense ads and contextual basis affiliate ads while asking questions or giving answers under the platform.
While a visitor engages with any of your space content, Personalized Ads will be shown and you’ll get your commission from the CPM revenues. The more you attract visits the more you can earn from ad revenues. Obviously, if the followers click on ads you’ll get more from that event.
How To Start Quora Monetization?
After knowing all the three methods of earning money through Quora, you can now create Quora Space. To create a space, first, log in to your Quora account. See at the right side you’ll get spaces option.
Click on the ‘plus button’ to create a new space. Choose your niche; give a suitable name to your space. That’s it, create the space and decorate it from the ‘Settings’ option.
Spaces are actually like free blogs. After creating, you can understand that it will be your new free blog with its own distinguishable URL. Now you can post your articles, ask questions, share links, invite friends and etc.
After the successful space creation, now you can invite moderators (if you want to!), contributors, followers, and subscribers. Start inviting your friends, colleagues, or partners to become contributors to your space.
You can join your friends as free complimentary subscribers. A complimentary subscription is a forever free subscription with a unique invitation code that only can be sent by the owner of that space. Subscribers are followers also by default. But, to make just followers particularly, you can invite people with the follower links.
Now you have to start contributing to your space. Write articles, ask questions, give answers, share answers from other spaces, share your links, write short posts, share images and videos, etc.
The more you give content in your space the more engagement you’ll see from Quora users. Try to cover up articles on your niche. Target the audience; make them fans of your writing.
With the increasing subscription, your earning amount will increase exponentially. More engagement with your articles also creates more ad impressions, and this leads to more revenues.
Set Subscription Amount:
You can set the subscription amount on your own. To set the manual subscription amount of your paid articles, head towards the ‘Earnings’ option from your space settings. Now see the ‘Your Programs’ panel.
There you can find all three monetization models are active. If it is not, then you can do that from this section.
Click on the space subscription option. A new modal window will appear then. Here you’ll get to see the ‘Subscription fees’ option. Click on the option.
Here you have to set the monthly and yearly subscription fees for your new subscribers. Note that, a little percentage from your earnings will be taken by Stripe and Quora, so put subscription amount according to that. Do not use too many subscription values from which users can’t able to pay that!
Withdrawal of the Earned Money:
After the earning reaches the threshold value of $10, you can withdraw that amount directly into your Stripe account.
If you don’t have any connected Stripe account then create your Stripe account before the withdrawal request. Quora will take some time to perform few checks on your Stripe account. If it’s perfect then you’ll be notified according to that, and then you can withdraw the earnings.
Kindly note, for a popular space, earning $10 a month is not a factor. They can earn way better than the value. But, for a newbie space, it’s hard to earn the $10 in its beginning days.
So, if your earnings can’t able to cross the threshold mark in one month, then the value will be rolled to the next month and when you reach the target you can request for withdrawal.
Other ways of Monetization:
Quora gives you an in-built monetization option by creating space. But, without creating spaces, a Quora user can still earn money. Whenever a user asks questions or gives answers that receive a lot of ad impressions, also eligible for monetization from Quora. Then he/she will be paid according to the Ad Revenue sharing model.
But, it’s not the single option to monetize in Quora without having spaces. Either you are a normal Quora user or a Space owner; you can insert affiliate links with your answers or articles.
By placing the affiliate links, when someone visits those links and made some purchases you’ll get a commission in return. So it’s an indirect way to monetize your Quora writings.
According to your choice you’re free to choose whether you create space or just use Quora as you did it, you can earn money by both ways. All three monetization options are there for you.
But, that doesn’t mean you have to them all. According to your needs and best planning use them.
But keep in mind one thing, relevant answers; high-quality content that really deserves to get paid only can give you earnings. If you’re thinking to write just normal copies, without any intent then you’ll not see any earning coming from Quora.
When you give value to the people when you provide solutions to the problems displaying inside Quora only then you can expect returns. It’s a legit way to earn so do it passionately.