It is very important for companies to identify where the potential lies and whether there are further opportunities to link one existing business model with another to generate additional revenue. However, hidden revenue generation can also backfire, especially when dealing with data and customers with bad intentions. Cambridge Analytica is a good example of such a backlash, which led to serious consequences for both companies.
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Four characteristics of digital business models
August 10, 2021
Digital business models have 4 characteristics
People often confuse digital products with digital business models. Generally speaking, digital products are just add-ons to existing services or products, such as an app for your product, a chatbot for contacting support, or an interface to control your product. On the other hand, digital business models have certain characteristics that help distinguish them from digital products.