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Leveraging Social Media to Create Revenue from New Markets

By Erin Harrison 

In order for service providers and enterprises to gain a competitive edge, they must tap into their innovation resources on a continual basis – not just looking at technical or service-related angles, but also taking into account new markets brought on by the advent of social media.

However, according to a recent Alcatel-Lucent whitepaper, Creating Revenue from Adjacent Markets with Social Advertising, “in an application and content market characterized by proliferation, innovation can happen anywhere, from any aspect of the business. It is critical to consider which business models, use cases and business cases can deliver innovation to all value chain participants: consumers, enterprises, advertisers, strategic industries and service providers.”

Service providers that carefully consider their assets and use them to construct innovative adjacent market offers have the opportunity to generate more revenue therefore leading to higher average revenue per user (ARPU) from businesses and consumers.

Having a coordinated and comprehensive innovation plan can create positive business outcomes for all involved partners.

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