Many thriving businesses have multiple revenue models. For example, LinkedIn has evolved to have three different revenue models in order to make money in their business. They use talent, marketing, and premium. For talent, they are targeting recruiters by creating insights that they would pay for. For marketing, people pay to have sponsored updates to target specific audience members in their LinkedIn feeds. Finally, for premium, users can pay to get extra feautures like seeing who is viewing their account and ability to message anyone.
I think it’s important for businesses to determine multiple streams of revenue if they want to survive in a competitive market.
