Google Maps is the most popular web mapping service provided by Google. As of 2020 Google maps were being used by over 1 billion users around the globe and millions of users use it every day to get directions, search for particular places, also to find nearby businesses. Google Maps is a free service provided by Google, but it makes money through various sources. In this blog, we will explore the revenue model of Google Maps.
Table of Content
| 1. Advertisement |
| 2. Google Maps Platform |
| 3. Google Ads |
| 4. Google One |
| 5. Local Guides |
| -Conclusion |
1. Advertisement:
Advertising is one of the primary ways Google Maps Makes money. Businesses can purchase ad space on Google Maps to promote their products and services, these ads appear when users search for specific keywords or phrases on Google maps or Google search.
For example, You are the owner of the coffee shop and you have purchased the ad space when the user search for " coffee shops near me" your ad will appear on the search results. Google charges you on the CPC (Cost Per Click) basis, which means it charges based on the number of clicks received on your ad.
2. Google Maps Platform:
Many applications use the Google Maps Platform to power their business, like Ola, Swiggy, Zomato, etc. Google Maps Platform is a set of APIs and SDKs that can use to integrate the Map into particular applications. By providing the services of Geocoding, directions, and location search to businesses Google charges the amount based on the number of requests made by the users. From startups to large businesses, they are using The Google Maps Platform to enable their businesses.
3. Google Ads:
Similar to the Google search, businesses can create their ads on Google Maps to reach their target audience by paying for particular keywords for which they can appear on search results.
Also Read: Types of trading in stock market
4. Google One:
Google one provides additional storage space to Google Drive users on a subscription-based model. In this paid service Google provides additional perks like expert technical support and some additional features for their products including Google Maps. This is the new revenue stream for Google Maps also to deliver value for users.
5. Local Guides:
Google Maps has a community of local guides around the world who contribute to Google Maps by adding photographs, reviews, and other information about local businesses and attractions. Local guides receive rewards and points, this community is helpful to Google Maps to be updated and accurate to attract users or retain the users on the platform.
Conclusion:
Google Maps is the most useful and powerful platform that provides a number of services to users, from directions to local business searches. These services are free but Google Maps earns money in different ways as we discussed above, and by using these ways Google Maps has become a profitable business.
0 Comments