Simply put, digital monetization is the process of converting existing traffic that is sent to a particular website, into revenue. Digital technologies offer an array of opportunities for growth. However, thinking about new ways to turn resources into revenue is essential for effective digital monetization.
Digital monetization changes the nature of products and services. It changes the customers’ perceptions of value, and value delivery as well. Sustainable revenue growth in the digital era requires a new perspective of thinking about monetization. Monetization involves three major components which aremechanism, resources, and value.