SPs eyeing revenue from digital business models

Today, most of the successful brands are adopting new technology, enabling them to transform the way they do business. Next-generation technology such as Artificial Intelligence can be a game-changer when it comes to the customer experience. AI powers applications like chatbots, which can help answer questions for your site visitors. AI can even recognize and answer multiple forms of the same question and can be trained to give instant responses using your preferred voice and tone.
 
 
A report finds, over 4.66 billion people on the internet and 4.2 billion on social media, businesses are eyeing a pie of the large customer base. Whether a start-up or a global conglomerate, everyone wants to generate revenue from their website, mobile app, and social media channels.

 
However, it is important to understand the type of revenue model that suits your products and services before choosing one. It is also important to execute the model in the right manner for maximum ROI. A well-defined revenue model helps your business operate efficiently, remain competitive in the market, and deliver higher profits.

 
When leaders think about how to generate the revenue model, it is a crucial element of a business plan. CXOs are exploring adopting Affiliate referral (CPA): By creating a pool of online influencers to market and sell your products for a small fee per sale. 

 
This is a popular win-win method both for the company and the influencer. When someone clicks a link on the influencer’s blog, they land on the company’s website, which is tracked through affiliate marketing software. Even if the sale does not happen right away, the influencer gets paid for driving customers to the merchant site within a predefined number of days. 

 
Second most important thing is investment into Edge computing , which enables low-latency data processing at the edge of the network, where data is generated. This allows data to be processed closer to the source, reducing the need to send large amounts of data to the cloud for processing. By processing data closer to the source, real-time decision-making based on the data becomes possible.

 
Most importantly, digital business models employ and rely on technologies that not only deliver better products and services but also provide personalized and meaningful customer experiences.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA