Data Monetization
What percent of your profit is currently being generated from your data?
What is your business’s current data monetization strategy?
What is the frequency you update that strategy?
Currently there is a massive growth in volume, speed, and variety of data. This presents new
revenue opportunities that are being created every day for your business. Many companies are
becoming aware of some of the opportunities embedded in data but only a few have developed
active strategies to monetize them. Many companies are missing out on key data collection
opportunities while others are collecting massive volumes of data that are not being monetized.
Data monetization requires companies to not only understand the quality of their data, but also
build a strategy to continuously generate revenue from their data.
The Innovation Strategy Group (ISG) will come in and implement a monetization strategy for
your company. We will identify the value of the data you currently have. We will focus on both
internal and external data monetization strategies. Internal data monetization will focus on using
information to enhance customer experience and drive cross selling and loyalty. The external
data monetization strategy will leverage data to create new revenue streams with third parties.
The first step will be to work with you to identify the value of the data and the criteria for
monetization. We will assess the value by looking at:
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Consumer Behavior
Consumer Identification
Transaction Frequency
Unique Data
Accessible Data
Once the value and criteria of data is established ISG will help implement a Go-To-Market
approach that will include:
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Determining the perceived value by different vertical markets
Address privacy concerns and level of control for the companies data
Evaluation of core competence the organization is comfortable with
Initiation of an agile organizational structure with buy-in from many internal groups
The creation of Cross Industry Alliances
The Managing Partners at ISG have successfully developed internal and external monetization
strategies for a number of large brands:
External data monetization:
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SI Golf Plus Digital
Golf.com newsletter database
Golf Magazine and SI Subscriber Database
Golf.com Shop
Internal Data Monetization:
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Golf.com Handicap Tracker
Golf.com World Am
Golf Magazine Players Club
Innovation Strategy Group Data Monetization Applied Process
The Innovation Strategy Group will review your company’s vertical market, website traffic, social
media reach, e-mail database and consumer data to establish a current state. Once all the
potential assets are identified, we use an applied innovation process to develop a strategic plan
for data monetization bringing internal groups together to participate in developing the plan.
Once the innovation process is completed, ISG will help implement the plan and is able to bring
in strategic partners to help build your database, create content and marketing assets, as well
as use key contacts at major brands that could be interested 3rd parties in your data.
We understand that a return on any investment is key to the success of your business. We
believe so strongly in the results we deliver that we are willing to work on a revenue share basis.
We are flexible on how our partnership with your country is structured. We can work on a flat
fee or revenue share based on performance with just travel expenses covered.
Summary
Companies that gather data on the use of their goods and services have the opportunity to
increase profits by developing a data monetization business. Most don’t have the internal
resources to develop and implement a strategy. Time must be spent up-front to understand the
potential value embedded in enterprise data. Operationalizing the strategy calls for having the
right business model and strategic alliances. Allowing the Innovation Strategy Group to lead
this key business initiative can provide tremendous ROI and supercharge your P&L in a short
amount of time.