By gathering consumer data and arranging it for internal use or the benefit of interested third parties, new value is produced. Revenue is made by either directly selling this data to others or by leveraging it for internal reasons, such as improving the efficacy of advertising.

When and how to apply Leverage Existing Customer:

As a part of their day-to-day operations, businesses today generate and collect vast quantities of data. However, too few organizations treat data as a strategic asset. As businesses increasingly adopt digital strategies and transform into digital entities, they rely on data as their primary source of firm value. The process by which organizations create financial value from data and data-driven process improvements is known as data monetisation.

substantial profits each year despite providing free services. The number of internet service providers has increased steadily over the years, as more consumers use the internet to purchase goods and services, communicate with family and friends, seek employment, and gain access to information and news on virtually any topic.

Consumers have become accustomed to accessing information found on the internet for free, as the majority of the content provided by these internet companies is provided to users at no or minimal cost.

Google, Meta (formerly Facebook), Yahoo, and Twitter, among others, can generate revenue in a variety of ways while continuing to provide consumers with free access to their distinctive internet services. Selling customer data is the primary source of revenue for these companies on the Internet.

Well-known companies that use this pattern are Facebook and Google.