Monetize Knowledge: 5 Ways to Make Money with Your Online Quizzes

Students invest more than their blood, sweat, and tears when learning and studying for a degree. With that, they also spend time, energy, and money that goes into education for a brighter future. We work hard in college to take the learning we do with us as we move towards our dream job or career.

However, sometimes the ‘future’ brought to us won’t be enough, especially for our daily living expenses. With every cost and expense rising by the dime, we need to be resourceful and wise! Not only must we spend wisely and conserve our resources, but we should also find ways to earn more than we need. We never know when emergencies might arise, so it’s better to have extra money to use.

Let’s use what we have and rock it until we make it! You need to make the best out of your education and learning. All your sacrifices and waiting should be compensated for by what we achieve for ourselves. Just like teaching! Teaching is already a highly underpaid profession. Teachers don’t get paid enough, and that’s an understatement, too! So, make a living out of the skills and knowledge from college!

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Why Monetization is Important for Educators?

We’ve all invested money in our education, so it’s high time we get some of that money back! We should use what knowledge or skills we learn at school to make a decent living. Getting profit from monetizing hard-earned skills and learning should be normalized. It’s not entirely different from teaching students in a classroom where you get paid by a school. The only difference is that your salary or earnings won’t get cut when you monetize yourself and your skill set! You’ll have it all to yourself and use the money for your own good, needs, and expenses without any difference.

Monetizing your skills and performance is an effective way of earning. This is because you love what you do and do it with vigor. You should have what it takes to sell and advertise your service. In this way, you can put yourself out there and find the audience you need. So, here are the five ways to make money with your online quizzes!

5 Ways to Make Money with Your Online Quizzes

Hard-earned money is hard to earn but not impossible. It just means we should put in extra effort, time, and patience if we want to earn. There are so many ways to make more, and most of them are now online! So, here are the five ways to make money with your online quizzes!

1. Create a paid quiz

Paid online quizzes are digital tests that require payment before taking them. These quizzes can cover a wide range of subjects, from academic topics to niches or entertainment. Paid quizzes can be multipurpose and used as educational tools, gaming platforms, or for fundraising. Participants should pay a registration fee before they test their knowledge and capabilities. They can also compete for prizes or certification or just enjoy the test itself. You can use these quizzes to generate money for yourself. It is also an effective way to promote your brand and engage the online audience with your service.

Paid quizzes are hosted on websites like OnlineExamMaker or cellphone apps. Either way, both give an interactive and accessible way to access these monetized assessments. A paid quiz is an assessment wherein you have to pay to be allowed to enter. This will test your patience and knowledge of your craft. Make a quiz of your own with your learning and knowledge as its focus. You can make learning materials such as this and sell them online. Students will have to buy their access to take this quiz. It is an efficient way to make money consistently with our knack for teaching. We can use these paid quizzes as a means to practice our students’ knowledge and skills, too!

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2. Create a paid course

A paid course is different from a paid quiz, and this is because a course is much broader than a quiz. A course is a subject or duration of a lesson that hasn’t been paid for yet. It usually takes longer than a quiz, and it has more activities under it, such as quizzes. We get paid as mentors or professors to allow them access to our classes or lessons on this specific course. It can be a subscription to a channel or watching videos. Paid online courses are educational classes that are advertised online. It is available on the web for a certain price depending on what subject topic or skill is being taught.

Learners will pay before gaining access to the material and lessons of a paid course. These courses cover a wide range of subjects. It could be academic, professional skills, or even hobbies and recreational activities. These courses were made to align with different interests, learning needs, and goals.

It is often offered by universities. However, you can also create your own! You can sell your specialized training to others or other like-minded individuals. Also, students who want to learn will be able to reach you through these paid sessions. It can include video lectures, live lectures, readings, interactive discussions, assessments, and more! Your course takers have ease of access online, and they can even study at their own pace. You can issue certification after your course with your credentials to validate their experience and journey in learning your paid course.

3. Create a paid registration form

A paid online registration form is a digital tool used to collect participant details and payments for events, services, or courses. These forms are essential for organizers to manage entries and facilitate secure financial transactions. Typically hosted on websites or integrated into event management platforms, these forms require users to fill out personal information and select options relevant to their participation. The payment section is secured with encryption to protect sensitive data like credit card numbers. Fees collected via these forms can cover costs like event entry, membership dues, or enrollment in educational programs. Paid online registration forms streamline the administrative process, making enrollment and payment efficient and user-friendly.

A paid registration form asks for a fee from registrants. It’s still paid in small amounts but by a lot of people. These paid registration forms are consent or act as subscriptions that they do like our product or service. Making a paid registration form will be effective in garnering leads and money from people who want to know your service.

4. Sell your product or service

Selling your product or service isn’t easy, but it is not impossible to do so online. It involves a few steps you have to remember when monetizing your craft. First, you have to identify your target audience and know their needs or preferences. Make your online presence known through a professional website or online page. In this way, you can establish your image in the online marketplace.

You can use pictures that will showcase your product or service best. Ensure that these media of advertisement align with your product. Next is to guarantee secure payment systems for your customers. It’s significant to facilitate a simple and safe transaction that is end-to-end and secure. You can optimize your product/service by making your own website or page. You can further increase your reach if you adjust your content for search engines (SEO) to increase your online visibility.

You can use different digital marketing strategies to boost your reach as well. This involves email marketing, content marketing, and online advertising. Use social media platforms to your advantage and engage with potential customers. It’s an effective way to sell and promote your products or services online. Your customer service and response time should be prompt so your customers can be satisfied and gain a sense of loyalty to your craft or branding. You have to know what you want to sell or advertise. Your product or service should be competent and well thought out. You’re going to sell these products on the market, so make sure they’re foolproof. It means that they should be free of mistakes and errors.

5. Include sponsored content in your quiz

Adding sponsored content to your Online Quiz is significant in changing the course of audience engagement. Digital marketing has different ways of integration into the market. One of the most common forms is sponsored advertising by other businesses and brands. This type of advertising content is paid for by the brand or service. It means that you can monetize your quiz further with the assistance of sponsored content.

You can incorporate their service in your quiz through simple ads and banners. Make the sponsored content less intrusive and well-kempt so it doesn’t pop out of nowhere. This form of advertisement provides the value of service to your audience or quiz-takers. It can be informative, entertaining, or insightful depending on your purpose and brand. Remember that the sponsored content should also match the interests and needs of the audience. They can relate better and create a deeper connection to your brand.

Annoying ads are out, and sponsored content is in! Its design is crucial in manifesting engagement and lead generation. This type of advertisement is subtle and sure instead of annoying and blunt. It can sometimes take the form of articles, videos, podcasts, or infographics that can be seen online. It can be incorporated at any significant point of the online quiz. Being subtle will increase the chances of your online audience being more engaged with your quiz. You can even share it across different social networks and increase your reach and impact online.

How Do You Make A Paid Quiz in OnlineExamMaker?

Foreword: The Sell Exam feature is only available for Premium plan account users. Before using this feature, please ensure you have a premium OnlineExamMaker account.

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Step 1: Create a candidate group for your paid quiz
If you want to sell your quizzes on OnlineExamMaker, there are two ways for you to do this:

Method A: Create a signup form for new candidates

Collect your candidates’ information by making a signup form where you can assign them to pay for your quiz. (Note: Send the link of the signup form to candidates to let them make the payment)

Method B: Use a student group in existing candidates

You can choose student batches, import them via Excel, and categorize them into different groups for simultaneously paid testing. (Note: Once chosen, after making the quiz, you can send the link to candidates)

Step 2: Fill in the necessary information

Fill in your quiz information with your subject branding, icon, your name, and other necessary details. Click ‘Settings’ on the side, then click ‘Company settings’ to type in the information.

Step 3: Add Stripe payment gateway

In this step, you need to sign up for Stripe and create a new account in your Stripe dashboard. Click the ‘Developers’ button at the top and select the ‘API’ keys tab, and you will see Standard keys (Publishable Key and Secret Key). After that, link your Stripe account with OnlineExamMaker’s system. Get the Secret Key and Public Key in your Stripe account, and add them to ‘Stripe Payment Settings.’

Step 4: Configure sell exam settings

Configure the Sell Quiz settings in the Exam list, pick the quiz you want to sell, and then click ‘Settings.’

Step 5: Assign online quiz to a candidate group

Click ‘Entering Exam’ and choose the candidates or the group that will take the paid online quiz.

Step 6: Set online quiz price

Click ‘Sell Exam’ to adjust or set the quiz fees. You can allow your quiz takers to preview questions before they pay for the quiz. Once you’ve modified the quiz settings, click ‘Save & Publish’ to finish and employ the online quiz. (Note: Due to the Strip platform policy, the lowest selling price of your quiz must be not less than $1)

Author: Matt Davis

Matt is a content marketing specialist with more than 5 years of experience in content creation, he is glad to share his experience about online education and digital marketing.