monetization

Vocabulary Word

Definition

Monetization is the strategy of generating income from an existing product or service. It could be through sales, subscriptions, or ads.

Examples in Different Contexts

In the creative industry, 'monetization' of content is crucial for artists and creators. A creative director might declare, 'Efficient monetization of our creative works is vital to support artistic endeavors and foster a thriving creative ecosystem.'

Practice Scenarios

Business

Scenario:

Considering the new market trends, we need to rethink our revenue generation strategies.

Response:

Agreed, we need to explore new monetization strategies to adapt to emerging market conditions.

Impact

Scenario:

Our fundraising goals for this year are ambitious. It's crucial we ascertain effective ways to utilize funds.

Response:

Monetization of volunteers' skills could be an efficient way to meet our fundraising targets.