Monetized widgets are widgets that you can place on your website that will dynamically pull in ads that you can either receive affiliate income for, or you can be paid on an impression/click basis. An example of this is with the Amazon Associates program where you can display product widgets and earn affiliate income as a result.

Advantages: Setting this up doesn't take long at all and you don't need to have huge levels of traffic to earn money. With the likes of the Amazon Affiliate widgets, you can make steady income if the products that you're advertising are relevant to the content within your articles.

For example, if you run a food blog and discuss the latest food processors you may want to place food processor products within your widgets to increase your conversion rate.

Disadvantages: Having monetized widgets dotted around your website can sometimes cheapen the look of your blog. If you're conscious of the aesthetics of your website then you might not want to add in too many ads of this nature.

You might also find that the space used by these widgets could bring in a better return if they were used for banner ads instead.