Unlocking Hidden Revenue Streams - Insights from ChatGPT

Ken Leibow ChatGPT 4o Question

I am looking for a hidden revenue opportunity like the one in this example: Ray Kroc the founder of McDonalds had a contract to setup franchises all over the country. The contract paid him 2% of a 15 cent hamburger. An investor told Ray that he wasn’t in the hamburger business that he is in the real estate business. Ray is to setup a separate corporation. In the Franchisee’s contract they must lease the land from Ray. Ray got investors and bought up land that was leased to the McDonald’s franchisee for a big profit generating continuous revenue. So using this example let me tell you about my business. I currently charge life insurtech vendors to market their software products. We add the products to our website InsurTechExpress.com and market it out in social and digital media for a annual subscription fee of approximately $6,600 which the vendor can pay monthly, semi-annual or the full annual fee. We then created an AI tool called Navigator AI. The tool is a Gen AI training data from a Life Insurance Technology database. Also on the there is a dashboard on Navigator AI with a one-click single sign-on to get free versions of software, trial versions of software and discounts on software – Like a marketplace. Navigator AI is like Amazon prime. The user pays an annual subscription fee for Navigator AI of $144. If the user clicks on the software on the Navigator AI dashboard then a lead is sent to the vendor. If the user buys the software, then the vendor pays me an affiliate commissions. There are 3 revenue streams: Vendor Marketing Subscriptions, Navigator AI Subscriptions, and Vendor Affiliate Commissions.

ChatGPT Answer

Your business model already has multiple revenue streams, which is great. To uncover hidden revenue opportunities, we need to think creatively about how your existing assets, relationships, and capabilities can be leveraged further. Drawing from the Ray Kroc example, here are a few potential strategies:

1. Data Monetization

• Opportunity: You have a valuable database of life insurance technology, user interactions, and preferences collected through Navigator AI.
• Strategy: Consider creating a new revenue stream by offering insights, reports, or data analytics to vendors or even other third-party companies. These could include market trends, customer preferences, and behavior analytics. You could charge vendors a premium for access to this data or offer it as an add-on service to your current marketing subscriptions.

2. Licensing Navigator AI Technology

• Opportunity: Navigator AI is a unique tool that you’ve developed, and it likely has value beyond just your current customer base.
• Strategy: License the AI technology to other industries or companies that could benefit from a similar tool. For example, industries like health insurance, property insurance, or even non-insurance sectors might find value in an AI-driven recommendation and lead generation tool. This could provide a new revenue stream without the need for significant new customer acquisition efforts.

3. Vendor Partnership Programs

• Opportunity: You’re already working closely with vendors through affiliate commissions and marketing subscriptions.
• Strategy: Develop a partnership program where vendors can pay for enhanced visibility or preferred placement on Navigator AI or your website. This could include featured listings, priority in user recommendations, or exclusive marketing campaigns. This tiered system could create an additional revenue stream by offering vendors more significant benefits for higher payments.

4. Marketplace Expansion

• Opportunity: Your Navigator AI acts like a marketplace, similar to Amazon Prime, where users get access to software trials, discounts, etc.
• Strategy: Expand the marketplace concept by adding more value-added services that users can purchase directly through your platform. This could include premium training sessions, extended support services, or even bundled software deals exclusive to Navigator AI subscribers. You could partner with vendors to offer these services, sharing the revenue or taking a commission.

5. Real Estate-Like Strategy

• Opportunity: Inspired by the Ray Kroc example, consider a “real estate” model in the digital space.
• Strategy: Own or control digital “real estate” that vendors must lease from you. This could mean controlling key digital channels (like specific high-traffic pages on your website, premium newsletter spots, or exclusive webinar slots) and charging vendors for the opportunity to “lease” these spaces. Over time, as your platform’s traffic and influence grow, the value of this digital real estate could increase, much like physical property.

6. Corporate Sponsorships and Strategic Alliances

• Opportunity: With a growing user base and vendor partnerships, there’s an opportunity to engage larger players in the life insurance and tech industries.
• Strategy: Pursue corporate sponsorships or strategic alliances with major life insurance firms or tech companies. They could sponsor parts of your platform, like Navigator AI, or specific content streams, webinars, or events. These deals could be structured with both upfront payments and ongoing revenue-sharing agreements.

7. Exclusive Vendor Networks or Groups

• Opportunity: Your platform could serve as more than just a marketing tool—it could be a community hub.
• Strategy: Create exclusive networks or groups where vendors can interact with each other, share insights, and collaborate on industry challenges. Membership in these groups could come with a fee, providing vendors with access to exclusive content, research, and networking opportunities. This could be an upsell from their standard subscription.

8. Insurance Product Development

• Opportunity: You have deep insights into life insurance technology and customer needs.
• Strategy: Partner with insurance companies to co-develop new insurance products that can be marketed through your platform. These could be tech-driven policies, innovative life insurance plans, or bundled services that appeal to your user base. In exchange for your contribution, you could receive a cut of the revenue from these products.

These strategies leverage your existing strengths and expand on them, similar to how Ray Kroc shifted McDonald’s focus to real estate. Each of these ideas would require careful consideration and planning, but they could unlock significant hidden revenue potential in your business.

If you are interested in doing business or investing in Insurtech Express LLC, then please contact:

Ken Leibow

Founder & CEO

InsurTech Express

ken@insurtechexpress.com

Mobile: 1-402-740-7356

SCHEDULE A MEETING: https://calendly.com/ken-397

OFFICE ADDRESS:

8601 Six Forks Rd, Suite 400

Raleigh, NC 27615

InsurTech Express Website: www.insurtechexpress.com

Navigator AI Website: https://ienavigator.ai/