Revenueize

To transform something that does not generate income, such as a service, a product, or a resource, into a source of revenue. This process often involves identifying new markets, implementing pricing strategies, and creating business models that generate profit. It can also mean finding new applications or packaging existing offerings in ways that attract paying customers or clients. It often involves a shift in focus, from something previously non-monetary to something designed to generate financial gains. The core action is to convert a non-revenue-generating item into a revenue-generating item. This can be done by many methods, including offering a free or cheap trial version, subscription models, or a value-added service.

Revenueize meaning with examples

• The non-profit decided to revenueize its popular online educational content, introducing a premium subscription model with exclusive videos and interactive workshops. This allowed them to generate much-needed funds to sustain their mission and expand their reach to a global audience, supporting more content to revenueize.
• The company planned to revenueize its unused software by creating a cloud-based service and charging users a monthly fee. They invested heavily in marketing and customer support to entice users to use the cloud-based software, which resulted in a significantly higher profit margin for the software.
• The museum began to revenueize its archives by digitizing them and offering access to researchers and scholars for a fee. They also created a store to sell prints and souvenirs based on the archive collection, creating a whole new income stream, and revenueize the already valuable material.
• A blogger attempted to revenueize her large online following through affiliate marketing and sponsored posts, and by creating an online shop to sell products related to her blog's subject matter. Through these methods, she successfully turned her hobby into a full-time career.
• The park service decided to revenueize its walking trails by implementing a parking fee and offering guided tours. This effort was focused on supporting park maintenance and preserving the natural environment, resulting in a sustainable method to revenueize their infrastructure.