Increase revenue by capitalizing your niche and not by pushing ads to your niche. Only then a business will succeed.
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Ad based revenue model will fail.
When your company has a good business model, Do not push your users to advertise or to become a paid member.
Example LinkedIn is sitting on a good niche, but fails to capitalize its niche and tries to generate business via ads and premium subscription.
Pushing premium subscription through free trial is not going to work.
What will work for companies like linkedin is capitalizing its niche segment?
What does companies like LinkedIn has in its user base?
- People who want to network so that their income opportunity increases.
- People who want to spam their connections so that their income increases.
In both the above cases, people want to grow their revenue through networking.
Pitching the above two members “premium subscription” is not going to work. The above 2 group are interested only in growing their income.
What can linkedin do?
Launch Linkedin Classroom. Enable people to conduct video workshops , Give influencers a platform to earn by enabling them to conduct workshops. Linkedin learning (where lynda.com’s content are shared) touches a bit of it.
But the real business would be to make the linkedin members to conduct classes online. A musician can conduct his own classes to people. Or upload his music class video. Likewise, every niche can conduct workshops, upload content and build a student network for his classroom.
Example: A translator can conduct translation classes/workshop via the platform. Expand the niche under https://lnkd.in/f5jUr23 platform.
People will surely pay to attend such classes conducted which are related to their profession.
Increase revenue by capitalizing your niche and not by pushing ads to your niche. Only then a business will succeed.