Reddit is one of the most popular social media websites where users can share and comment on content related to various topics. Whether you’re a fan of Michael Jackson or Elvis Presley, you can probably find a subreddit to discuss your favorite stars.
With hundreds of millions of monthly active users, Reddit is a lucrative place for entrepreneurs to build and grow their audience. The site is also home to some of the most successful entrepreneurs and venture capitalists in the world. With that status comes the desire to make as much money as you can, as fast as you can!
If you’re looking to make some extra cash, you’re in the right place. Below we’ll discuss how you can make money on Reddit.
As the name would suggest, Reddit gold is the most popular version of Reddit, available in either virtual or physical form. You can purchase it and use it like Amazon Prime to enjoy free two-day shipping on millions of products or you can visit physical retailers such as Amazon to make the same purchase.
Another form of legal currency used on Reddit is called Reddcoin. Similar to bitcoin, the value of Reddcoin is determined by the market and there is no restriction on purchasing it. You can use Reddcoin to make purchases on the site or you can use it to tip users on Reddit in the form of a virtual gift.
One of the most profitable businesses on Reddit is the one that creates, promotes and monetizes content. Just as with any other social media platform, you can use various tools to get content in front of your target audience.
The most popular method of getting content in front of people is by using paid advertising. You can use a tool like Google Adsense to gain visibility on your target audience’s homepage or you can create a blog to attract and retain customers.
To be able to generate revenue from your content, you will need to choose a niche and build a reputation for your content within that niche.
Creating content is only half of the battle, you will also need to find a way to get people to actually pay attention to your content. Just as with any other form of paid advertising, you can use influencer marketing on Reddit to attract customers to your content.
To create influencer marketing content, start by finding well-known people in your niche and finding content that they have not yet seen. You can use tools like Influenster or Mycelia to find and connect with potential influencers in your niche.
Once you’ve established communication with the influencers, you can ask them to promote your content or product. As an entrepreneur building a monetized content strategy, you will need to carefully consider how you want to distribute your content and the pricing structures of various affiliate programs to maximize your investment and generate the greatest return.
A content producer’s (CPA) ability to generate income depends largely on their target audience. Just as with any other form of paid advertising, you can use a tool like Google Adsense to gain visibility on your target audience’s homepage or you can create a blog to attract and retain customers.
To be able to generate revenue from your content, you will need to choose a niche and build a reputation for your content within that niche. If you are new to creating content, consider whether or not you will be able to make a profit from your work. The truth is, not many people can and this is often a lucrative and rewarding experience. However, if you do decide to pursue this route, be sure to find a reputable affiliate program to participate in.
While the above forms of monetization allow you to make money on Reddit, the platform also offers an opportunity to make money through display ads. Similar to Google Adsense, you can use a tool like Revglue to gain visibility on webpages that are relevant to your target audience.
Revglue claims to be the fastest-growing and most popular ad network on the platform. Unlike the other forms of monetization, you will not need to create content to promote display ads. These ads appear as vertical or horizontal bars at the top or bottom of a webpage and they typically contain links to other sites. If someone clicks on one of these links, they will be directed to a different website with the opportunity to make a purchase or to sign up for a service or trial version of a product.
Monetizing Your Subreddit
The above methods of making money on Reddit can be applied to any user-generated content platform that follows the basic rules below:
- Keep the content relevant and interesting.
- Do not use aggressive monetization techniques (e.g., click fraud, viewbots, etc.).
- Do not spam.
- Avoid using copyrighted content without permission.
- Be a good steward of the community.
If your Reddit account is owned by a business or individual, you can apply for adsense approval to have your content monetized. Just be sure to submit a blog post every month so you can continue to monetize content on the platform.