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What are the most common ways to monetize one's websites?
You can have google adsense, or sell affiliate programs. You'll also need some SEO to increase your sites visibility.
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For me, the most common way to monetize a website is Adsense. Actually, it’s the only monetization method that I know. You just apply to Adsense by submitting your website’s link and they will evaluate if your website is approved based on their requirements. One thing I have noticed in Adsense is the contents of the website should be moderate in length and has direct relation to the niche. Besides, I think the traffic it is getting is also material to the evaluation process.
Well, sell something in it and post your affiliate links in your site. That's what I'm doing right now but to tell you honestly I'm profiting alot more from selling.
If your a blog or a content site then you can ask for donations just post your PayPal.me and you'll get some money from your followers or subscribers.