Open new revenue streams for your company
Learn about the recent moves big companies took to generate new revenue streams, and how you can get inspired by them.
Big companies know how to keep an eye on the market and pick ideas that can be monetized. In this week’s digital news podcast, with our very own Dr. Torsten Schwarz, we discuss the recent moves these companies took to generate new revenue streams, and how you can get inspired by them.
Twitter is auctioning names
Elon Musk has a new idea, 1.5 billion user names are registered but not used (inactive) and he wants to auction them. There is already a black market for names on twitter, hackers are grabbing names from Elon Musk himself, Barack Obama and Bill Gates. Telegram is already auctioning names.
What can you learn from that as a company? Secure your brand name, register on all social media with your brand name to have it saved.
ChatGPT wants to see money
ChatGPT is an AI tool from open AI. You can register and get an answer to every question, much better than Google. The Open AI account on the Discord server said that they are starting to think of monetizing the popular tool by introducing “ChatGPT Professional”. In the new paid service there will be no blackouts, throttling or limit on the number of questions, or at least the limit will be double the daily limit.
What can companies learn from this? Try to have free features that are available to everyone, so that you can get reach. Then you lock certain features in exchange for a fee to create revenue.
Telcos sell advertising
The German Deutsche Telekom, Franch Orange, Spanish Telefonica and Uk’s Vodafone applied at EU commission to have a privacy digital ID system to use and sell to digital marketing and advertising purposes. The EU Commision has to answer until February 10th to decide if it's ok.
What do we learn from this as companies? All those who work in digital marketing may have a problem in the near future, as 3rd party cookies that marketers use to identify customers and their journeys will be turned off in 2 years, in Safari browser they are already turned off. Now, Telcos will be competing with the advertising industry.
Sennheiser sells hearing aids
The German company Sennheiser whose headphone department was acquired by Swiss company Sonova who produce hearing aids. Is testing a new product, an in-ear headphone that helps you have clear conversations in noisy environments using AI speech interpretation. The problem that was discovered during testing though, is that you can spy on nearby people and hear their conversations.
What can companies learn from that? We have disruption of markets due to digital technology and since hearing aids are very expensive, maybe with this technology they will get less expensive in the near future.
Mercedes sells electricity
In the US, while companies like BMW announced a new personalised car, Mercedes announced something else on a much wider scale. They will have 10,000 pillars in the US by 2030. Similar to Tesla and GM who have charging networks operating, Mercedes’s plan includes having 2,500 high-power chargers with 350 KW. And while everyone will have access to those chargers, Mercedes Benz customers will exclusively have the option of booking in advance.
What can companies learn from that? provide your customers with a special exclusive benefit that they enjoy so they feel much better and more special than users of other services.
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Digital marketing expert and author of 25+ books, is an online marketing guru in Germany, known for starting one of the world's first web servers.