Many businesses fail simply because they ran out of money. Here we discuss four monetization models that are often ignored or not optimally applied and how easily they fit into your development plans.
One goal of your monetization strategy probably should be to maximize your average lifetime revenue per user. The monetization options you adopt should fit your branding, which may preclude some options (like in-app advertising). The support requirements of others may initially exceed your budget and/or team’s capabilities (newsletters or data products). Even so, you can always expand your options as your business evolves. Including them in your software development plans early on can save you substantial expense later.
Days or even weeks could be discussed on all of the monetization options available to businesses today. The four options discussed below are meant to provide a smorgasbord of “food for thought” for startups – but can be valuable to SMB’s, too.
Read full article here: https://perceptionbox.io/business/tips-on-4-monetization-options-for-startups/