Monetization may be described as the process of converting something into money, hence monetizing your website inessence means converting your website into a money making machine.
You mayhave a lot of visitors to your website and not benefit from this because yourwebsite is not properly monetized so be sure to take the time andeffort in doing this effectively.
You may chose acombination of different ways to monetize yoursite.Some of the methods you can use to monetize your website arelisted below.
Recursive affiliate programsare affiliate programs where an affiliate sells products or services that requires continuous or future payments by the subscriber or purchaser for membership renewals or continued membership. This is an attractive option as each time a membership is renewed or a payment is made for continued membership, the affiliate gets paid a commission. Hence the affiliate is paid on a regular basis.
One Time affiliate programs are an excellentway to monetize your site as all you need to do is find products thatare related to the content on your site and promote and sell these products for acommission. For example if you have some information on articlemarketing on your website then you can choose to sell or promote ane book called The Secrets Of Article Marketing.
Google Ad sense a form of pay per clickadvertising where you place ads on your website and get paid each timesomeone clicks on these ads is a very popular way of monetizingyour website.
Direct Ad Salesinvolves the sourcing of advertisers for your website. In trying to source ads or advertisers for your site you have to be able to tell advertisers the benefits of advertising on your site hence you have to be able to provide information such as what your site is about, the strengths of your site, traffic statistics etc to try and attract advertisers. One of the good things about this method is that you can set you own advertising rates and hence have more bargaining power.
Selling your own products is also a very effective way of monetizing your website. One of the positives about this method is that you get to keep a 100% of the profits. Selling E Booksis one such strategy being used by webmasters today to create a steady monthly income online. The growth of the e book industrypresents an excellent income opportunity for writers or publisherswishing to explore the possibilities.
Selling your website. There are a lot of persons today practicing what is called website flipping which involves choosing a website with a profitable niche, develop the site to get it to a certain point of promise or profitability, and then flipping or selling it for a profit. The point is, if you have a very good website with good content and good earning potential then there are buyers out there who would be willing to buy your website for a good price.
Monetization may be described as the process of converting something into money, hence monetizing your website inessence means converting your website into a money making machine. 
