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What's the Best Way to Monetize Your Website or Forum?

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My focus as website and forum owner is to determine the effective methods for generating money from my online platforms. I want to know what method delivers the highest return on investment for your website or forum? You have any idea?
 
Back when I had a forum, advertisements were the most effective for me. I got into contact with some admins that were in a similar niche to me and promoted their sites/forums.
 
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