Can You Make Money On Quora?

Screenshot of Quora's homepage
Courtesy of quora.com

 

Overview Of Quora 

Quora is one of the most popular question and answer platforms available online, on which people are able to ask all sorts of questions to an incredibly diverse and large community of individuals. 

Questions on Quora range from recent world affairs like the COVID-19 pandemic (Why are there low coronavirus cases in African countries, even for those doing plenty of tests like South Africa?) to more mundane questions (“Should women ask men out on dates?”)

Users of the platform also include popular public figures such as Hillary Clinton, Stephen Fry, Gillian Anderson, and Gary Vaynerchuck

Here is how the platform’s purpose is described on Quora’s About page:

We want to connect the people who have knowledge to the people who need it, to bring together people with different perspectives so they can understand each other better, and to empower everyone to share their knowledge for the benefit of the rest of the world.

This article aims to offer a helpful guide that encompasses the elements involved in how to make money on Quora

 

Can You Really Make Money On Quora?

The short answer is yes, it is possible to earn an income on the platform. 

However, like with any financial venture, success is not guaranteed, and your endeavors will succeed only with a thorough understanding and purposeful plan of action, combined with consistent daily effort.

The following section will break down the various ways in which it is possible to make money on Quora and offer useful tips. 

 

How Can You Make Money On Quora? Here’s The Ways:

Some of the more obvious ways to make money on Quora include:

  • The Quora Partner Program – intended to reward Quora users for being active participants and contributing to the site’s online visibility. 
  • Affiliate Marketing/Direct-Linking – which involves redirecting traffic towards affiliate marketing offers in the hope of financial compensation and which is in most cases not allowed by Quora.
  • List-Building/Organic Traffic – using the content you put on the platform to build an audience, who you then filter to an email list signup or other means of ‘audience building’.
  • Quora Advertising (aka ‘Quora For Business’) – allows businesses to connect with their audience directly and generate high-quality leads via paid ads.

We have dissected each of the above in the below section to offer a deeper understanding of what they entail. 

 

Overview Of The Quora Partner Program

Photo of a writer from unsplash.com
Courtesy of unsplash.com

The Quora Partner Program was designed to “compensate Quora users who make great contributions to the product and the community.”

As per Henry Modisett, product design lead at Quora, the program was expanded in 2018 to include remuneration for answering existing questions:

“Since we launched the program, Partners have contributed some of the best new questions for writers to answer. Our goal with the program is to not only ensure that the best questions exist on Quora but that writers are getting the opportunity to answer them. One big limitation with the current program is that Partners only get compensated for new questions. So going forward, we are going to allow Partners to get compensated for answer requests on existing questions.”

In a blog post written in 2018, growtraffic.com explained that 

“The Quora Partner Program is invite-only. You can’t apply to join it, you just need to use the site and get invited. People who are invited can’t invite other people as of yet, I don’t know if they’ll add referrals or anything in the future.”

Blusteak.com on the other hand provided a slightly more specific entry requirement, stating that: 

“According to many sources, your content needs to be viewed more than 100,000 times on the platform to get the invitation to join the program in 2020. Although I got invited when I only had somewhere around 55,000 views.”

On April 9th, 2020, Jonathan Brill, Head of Global Writer Relations at Quora, announced two major changes to the way the Quora Partner Program works:

  • Starting today, we will no longer pay for answer requests on existing questions. Although this part of the Partner program helped get good questions in front of writers who could answer them, we’ve found that generally paying more for new questions rather than requesting answers for existing ones works better for Partners and writers.

  • After collecting writer feedback and looking at how certain classes of questions are performing for Partners and on Quora, template questions will no longer be allowed by Quora Partners. Although generalizable template questions can yield well-written answers, they just as often go unanswered, resulting in a lower payout for Partners and empty question pages on Quora. Going forward, Partners should not add template questions, generalizable or not.

 

Here are a few tips from patchesoft.com to help get you on the right track in terms of success with the partner program:

  • Ask questions regularly. It might take you months to receive an invite, so log on to the site once a month or so and show you’re an active user.

  • Provide good answers to show you’re invested in Quora’s site.

  • Make a legitimate profile- add a bio, name, profile picture. Quora wants real people asking questions, not just bots, and people looking to spam their site.

  • Be patient. It took me over a year to wait for my invite to arrive, but some have reportedly been getting it within months.

 

To learn more about the program and keep up with its evolving policies, we recommend that you check out the Quora Partner Updates thread here.

 

Overview Of Affiliate Marketing/Direct-Linking On Quora

Some individuals will attempt to take advantage of the traffic that exists on Quora to make what they believe will be quick or easy money by posting content on Quora that links out to affiliate marketing offers they will receive a commission for.

This is not typically tolerated by Quora’s moderators, and most attempts fail anyway, as the lack of value in the content put up by the over-eager affiliate typically keeps it from getting any substantial reach anyway.

With this said, there are certainly firsthand accounts online of success in direct affiliate marketing on Quora. Here is how one Quora user described success in this area:

So I had to re-strategize if I was going to market here. I now put links to blog posts and videos in my bio and then point people to that. BUT I only do so after providing a thoughtful, and hopefully a helpful answer to their question. Otherwise, why would anyone be interested in what I have to say?

Give value to the community, and they will trust you. THEN you have some authority to give them affiliate marketing recommendations.

His mention of “providing value”, however, leads into what is the most accepted and successful manner of using Quora to make money, which is audience-building, list-building, and the driving of organic traffic (see below).

 

List-Building/Organic Traffic

This is the main method through which most individuals will attempt to make money from Quora. It involves answering questions on the platform in a manner that provides great value, while also doing so in a manner that allows readers to easily find their way to your website, blog, or email newsletter sign-up page.

From there, you can continually re-market to those individuals, who already have built a relationship with you via their consumption of your Quora posts and their purposeful decision to seek out more info about you (or your business).

This re-marketing could involve any number of things, including selling digital products; physical products; coaching; consulting; memberships; affiliate offers; etc.

It is recommended that you start by providing truly helpful and descriptive answers on topics you are knowledgeable about and that are related to your business.  

Below is a video by Neil Patel, in which he shares his personal experience of using the site for this exact purpose.

 

As noted above… as you build momentum on Quora, your profile will grow in popularity and your content views will go up.

People will automatically start to look out for your answers and eventually be tempted to check out your work by clicking your profile and subsequently checking out your blog or website.

Here is an additional article, titled “How to Attract 9872 Visitors from Quora in One Month” (also by Neil Patel).

 

Overview Of Quora For Business (Quora Ads)

Quora for Business Homepage
Courtesy of quora.com

 

The most serious manner of making money with Quora is, of course, utilizing it’s paid advertising platform (called ‘Quora For Business’) to run ads on the site.

This can be done in conjunction with any number of online business models, including affiliate marketing; consulting; the selling of products directly; and an infinite number of other options.

Paid advertising online continues to skyrocket each year, and according to statista.com, “…ad spending in the Digital Advertising market is projected to reach US$345,948m in 2020, with the market’s largest segment, Search Advertising, reaching a projected market volume of US$148,488m in 2020.”

Beyond Search Advertising, other massive online ad platforms include Social ones, like Facebook and Twitter, as well as Native Advertising giants like Taboola (who we profiled here) and Outbrain (who we profiled here).

Quora is distinct from all of these, although in some sense it could be said to bridge the gap between Search Advertising and Social Advertising, since it has qualities of a social network to it, but also allows ads to be shown to individuals expressly searching for information, much like Google Search.

In response to the question of why should businesses consider advertising on Quora, the official guide states that:

People come to Quora to ask questions and to read and share insightful answers. This includes people looking for reliable information about your company, products, competitors, and industry. This gives advertisers the opportunity to influence people during the consideration phase of their purchase process. Quora is a unique, high intent advertising platform, ideally suited to reach customers as they research a product or service.

 

Ad Types

Advertisers on Quora can opt for Text Ads, Image Ads, Promoted Answers, and Lead Gen Forms.

Promoted Answers are essentially organic answers on Quora that work as an ad. As per Quora, “this long-form ad unit allows you to own the conversation around your brand, product, service, or industry.”

 

Screenshot of Quora Ads - Quora for Business
Courtesy of quora.com

 

Targeting

Quora For Business allows advertisers to utilize a diverse range of targeting options involving interest, intent, demographics, actions, and numerous other variables. The targeting features will be familiar to users of Facebook ads, Google Adwords, or Native Advertising.

Pricing

Quora allows advertisers to set their budget as low as $5 per day.

Anecdotal evidence and discussion around the web suggests a great range of cpc’s on Quora, and it is difficult to estimate the relative price of their traffic relative to other platforms.

 

Bidding

Ad auctions are held to determine which ads are eligible to be displayed on Quora at what volume. This is similar to other other online advertising platforms.

Quora also allows three different forms of bidding: Cost per Click (CPC), Cost per Impression (CPM), and ‘Conversion Optimized’ bidding.

Below is the bidding structure:

Quora Ads Pricing Structure

 

Before getting started on Quora For Business, check out this page on their site to access all the resources and recommended practices available. 

And finally, here is a video breaking down the Quora For Business advertising platform:

 

Conclusion

That is the basic overview of how to make money on Quora. For more guidance, we recommend you familiarize yourself with Quora’s policies here. You can also reach out to Quora on LinkedIn, Twitter, and Facebook for more specific information!

 

 

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