Merriam-Webster explains the issue as process of converting something into money.
Economics is almost solidary with such an idea, saying that it the process not only of converting into something financial, but something that can be counted or estimated.
When we talk about online ecosystem it is more than just possible. Websites, blogs, apps and all that stuff can and should bring money to its owners. Making a post is not so simple as it may seem, as turning thoughts in right order will require some time. Besides, investigations and researches that may be helpful for your audience may need direct financial investments.
Monetize meaning is about having revenue for your efforts. All good Christmas recipes should have been once created and tasted. Appreciation form your audience side is really important, but some significant or measurable acknowledgement will have more effect.
If we ask what does monetize mean for offline business it is not exactly manufacturing, but sometimes monetization covers issues that couldn’t have been revenued or the flow was lower. For example, a waffle house can offer free meals for tourist bus drivers that travel on long distance. In fact, the drivers themselves do not have a direct money revenue, but they are less worried where to eat and the cafe owners get bigger traffic. Jungle radio in case of good service may also work for them.
Why it is important worth improving?
Monetizing is an old business of making money from whatever possible. Yes, it is some kind of capitalism that is not so old in fact. It may sound strange, but monetizing things that seemed impossible generates not only new way of getting income, but also helps to make new working places, new processes and, as a result, bigger financial turnover.