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The Contemporary Models of Business Monetization in the Context of Digitalization of the Economy
Halakhova T. O., Halakhov Y. M., Yevdochenko O. O., Kyslytsyna O. V.

Halakhova, Tetiana O. et al. (2022) “The Contemporary Models of Business Monetization in the Context of Digitalization of the Economy.” Business Inform 11:52–63.
https://doi.org/10.32983/2222-4459-2022-11-52-63

Section: Globalization Processes in the Economy

UDC 339.18

Abstract:
The purpose of the article is to study the models of forming of business income (monetization models) as a subsystem component of the overall business model of the company through a logical relationship: «business monetization model – business model of the company – global business ecosystem» to substantiate the most effective models in modern conditions of strengthening digitalization of economic development. The article visualizes the mechanism for forming the e-business strategy «from data analysis to strategy», that is, generalized, structured and in a certain way systematized data be of value – i. e., the knowledge that a company can use in developing its business strategy. The methodology for forming a business model of a company is analyzed on the basis of 4 key components: «Who? – What? – How? – Why?». The article provides a detailed analysis of monetization models for digital business (online format) in terms of their implementation, as well as generalized characterizations of each model; the key advantages and disadvantages of their implementation are distinguished. Attention is paid to the following monetization models: transactional income model (or production model of business monetization); markup model; advertising model; licensing model; arbitration model; commission (partnership/affiliate) monetization model; model of open innovation; model of «income from the sale of services»; subscription model (Freemium/Premium), as well as to the innovative and creative business models of companies and, in particular, their monetization models such as: Experience Selling model; model of additional services (Add-on Model); Aikido Model; Flat Rate Model, and Razor & Blade Model.

Keywords: digital economy, e-business, digital marketing, monetization model.

Fig.: 5. Tabl.: 3. Bibl.: 14.

Halakhova Tetiana O. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of International Management, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]
Halakhov Yevhenii M. – Candidate of Sciences (Engineering), Associate Professor, Department of Higher Mathematics, Mathematical Modeling and Physics, State University of Information and Communication Technology (7 Solomianska Str., Kyiv, 03110, Ukraine)
Email: [email protected]
Yevdochenko Olena O. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of International Management, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]
Kyslytsyna Olga V. – Candidate of Sciences (Economics), Associate Professor, Department of International Management, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]

List of references in article

Letunovska, N. Ye. et al. Marketynh u tsyfrovomu seredovyshchi [Marketing in the Digital Environment]. Sumy: Sumskyi derzhavnyi universytet, 2021.
Kovtun, H. “Tsyfrovyi marketynh yak tekhnolohiia prosuvannia produktsii“ [Digital Marketing as a Technology of Product Promotion]. Suchasni tekhnolohii komertsiinoi diialnosti i lohistyky. 2020. https://www.researchgate.net/profile/Vitalij-Kruglov/publication/346929649_SUCASNI_TEHNOLOGII_KOMERCIJNOI_DIALNOSTI_I_LOGISTIKI/links/5fd275f9299bf188d40aff4a/SUCASNI-TEHNOLOGII-KOMERCIJNOI-DIALNOSTI-I-LOGISTIKI.pdf#page=280
Tataryntseva, Yu. L. et al. “Upravlinnia protsesamy monetyzatsii digital marketynhu v konteksti zabezpechennia finansovoho rozvytku pidpryiemstva“ [Management of Digital Marketing Monetization Processes in the Context of Ensuring Financial Development of the Enterprise]. Marketynh i tsyfrovi tekhnolohii, vol. 6, no. 1 (2022): 32-44. DOI: 10.15276/mdt.6.1.2022.3
Shevliuha, A. H., and Zozulov, O. V. “Marketynhovi doslidzhennia do i pislia relizu videohry“ [Marketing Research Before and After the Release of a Video Game]. Marketynh i tsyfrovi tekhnolohii, vol. 6, no. 3 (2022): 25-33. DOI: 10.15276/mdt.6.3.2022.3
Gassmann, O., Frankenberger, K., and Csik, M. The Business Model Navigator: 55 Models That Will Revolutionise Your Business. Harlow: Pearson Education Limited, 2014.
Panetta, K. “6 Technologies on the Gartner Hype Cycle for Digital Marketing and Advertising, 2019“. Gartner. August 29, 2019. https://www.gartner.com/en/marketing/insights/articles/6-technologies-on-gartner-hype-cycle-for-digital-marketing-and-advertising-2019
Mishra, P. “Top 7 Best Revenue Models for Your Startup in 2022“. StartupTalky. January 05, 2022. https://startuptalky.com/best-revenue-model-startups/
Blakely, S. “What Is a Revenue Model“, MasterClass. January 07, 2021. https://www.masterclass.com/articles/revenue-model-guide
“Digital economy report 2021: Cross-border data flows and development: for whom the data flow“. UNCTAD. 2021. https://unctad.org/system/files/official-document/der2021_en.pdf
Hong, H. “Digital Ecosystems - a New Economic Paradigm?“ OCED. 2021. https://oecdonthelevel.com/2021/01/09/digital-ecosystems-a-new-economic-paradigm/
“Number of internet and social media users worldwide as of July 2022“. statista. https://www.statista.com/statistics/617136/digital-population-worldwide/
“The world's most valuable resource is no longer oil, but data“. The Economist. May 06, 2017. https://www.economist.com/leaders/2017/05/06/the-worlds-most-valuable-resource-is-no-longer-oil-but-data
“Show me the Money: Revenue Models“. Swartz Center for Entrepreneurship Carnegie Mellon University. 2015. https://www.cmu.edu/swartz-center-for-entrepreneurship/assets/revenue-models.march-2015.pdf
“8 Most Popular Startup Revenue Models Explained“. SharpSheets - onlain-platforma shabloniv finansovykh modelei dlia biznesu. July 26, 2021. https://sharpsheets.io/blog/revenue-model-explained/

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