Monetization could be defined as a process of converting something into legal value like a currency. In the Internet industry, the value is mostly in data.
LinkedIn found a great business model:
1/ A Response to a need : to get a good job and earn money, people are ready to pay for services aiming of managing a career.
2/ A Never Ending Business Basis: the target of working people is huge and the user base changing year after year.
3/ A Strong Field Salesforce Selling Best Asset: thanks to the database and access to many potential candidates, Talent Solutions are appreciated by firms to distribute open positions and find the best candidates.
4/ A Recurrent Revenue: to get access to different level of services, there is a monthly fee to pay. For the user, the amount of Premium Subscription is small. For the firm, the number of users subscribing makes the business impressive.
WeChat can have an interesting business model as well:
1/ A Response to a need : to communicate with other people including friends, people need mobile services.
2/ A Never Ending Business Basis: the target of all the owners of smartphones is huge and the user base still growing year after year.
3/ A Strong Field Salesforce Selling New Marketing Solutions: thanks to Tencent experience with QQ, QZone, and QQGames, brands can trust the service and see the ROI.
4/ A Recurrent Revenue: to get access to users, brands will pay for campaigns, official accounts, access to statistics. Tencent is likely to offer as well Premium Subscription giving access to users to additional services (the business model of Libon is based on those services).