Merriam-Webster defines monetize as “to coin into legal tender,” or “to purchase debt and thereby free for other uses moneys that would have been devoted to debt service,” or “to utilize (something of value) as a source of profit.”
Wikipedia defines monetization as “the process of converting or establishing something into legal tender.”
All these definitions indicate that monetization is more than pricing, although pricing is definitely involved. Monetization is a process that includes defining an offering, establishing a price, and having customers pay money for the offering. I like it.
So what would a monetization model look like? One-time sales? Subscriptions? Usage? All of these? What do you think?