<How to monetize WhatsApp?>
https://www.youtube.com/watch?v=xJVx06LQXww
1. Product
1) People are not used to pay for a messaging app (They will use iMessages instead!)
2) WhatsApp has an intimate setting, it is hard to put commercial features like ads into a messaging app
2. Consumers
1) Consumers - to communicate with friends and businesses
2) Business - get new customers
3. Monetization models
1) Subscription model - pay monthly for x (ex. Netflix, Amazon Prime)
2) Freemium - gives free access for basic version and then users have to subscribe for more (ex. Spotify, Duolingo)
3) Ads - sponsored listings, affiliate marketing, good for media that has a lot of traffic (ex. Google)
4) Transaction fees - charge when users make a certain type of transaction (ex. Airbnb)
5) Buy a physical, digital goods or service (ex. donate items to creators)
6) License - pay for number of users, usually for B2B services (ex. Salesforce)
- many apps mix and match betweeen these models, for example Spotify monetizing both free users(ads) & paid users(subscription)
- among these models, priotize what goes with users' needs and business goals
4. Monetize Solutions
1) Transaction fees - bulld out digital stores, sinces users may be willing to purchase an item/ make a reservation after messaging a business // purchase git cards
2) Physical, digital goods or services - make creator store for sticker packs, gifs, memes
3) Freemium - pay for advanced features, for example allowing users to make a group chat with unlimited number of people
