As the name implies Mobile App Monetization means making income via mobile apps effectively. Before going into detail regarding it, let’s have a small word about the classification of mobile apps: Free and Paid. The latter deals with providing amazing features which are not for free while the former deals mainly with In-App purchases.
Now let’s get into detail regarding Mobile app monetization.
Mandatory Steps to be done before opting for a monetization strategy:
a.Researching the Audience Base
A vital aspect regarding the monetization strategy, every mobile app development companies research the respective audience base regarding the demographics along with their typical app usage statistics.
b.Getting insight regarding what exactly are the needs of the hour
An extension of the above point, understanding what exactly the user base needs will ascertain your success in the form of revenue and thereby the app will become very much popular.
c.Developing something that is useful
Once insight is obtained regarding the needs, plan your monetization strategy with a powerful emphasis on quality to get more users and ultimately income.
App Branding:
Another contributing factor to successful app monetization strategy, it makes people aware of your app in terms of visibility and thereby your reputation grows. Listed below are some of the effective branding techniques.
a.Social Media
This powerful platform can be used to reach people numbering in the millions. For a start, Facebook boasts users comprising of about one billion. Instagram has a global user base of 100 million users. This is enough to showcase its potential.
b.Application icon
It is the thing that the users first look with regards to your application and it symbolically represents all its features and what it will do. Thereby it needs a rich look by either giving a special shape to it infused with innovation or anything else.
Email Listing:
This is effective when it comes to the long-term as a branding technique seeing that users mostly never change the email address of theirs.
Consistent communication via emails will make the user base continuously thinking about your enterprise and also to make purchases from you. Offers, promo deals, newsletters and the such are shared via email.
Advertising:
Another important contributor for boosting your application revenue, it plays effectively in tackling the menace of increased expenses. They are listed below
a.Banner Ads
These ads are featured at the top or bottom of the app. They can be in a way annoying as they distract the users very much. Thereby an insight regarding the user experience is important before contemplating this technique.
b.Interstitial Ads
Seen as being similar to a TV advertisement, it is prominent for games. If handled cleverly, they reward handsomely.
Paid Download:
The best shot for generating income for your app is no doubt the paid app concept. It is simple, the users have to purchase it from the app store before downloading it.
It is best suited if the marketing power of yours is great and if your app features something exceptional not found in the case of free apps.
In-App Purchases:
In this monetization strategy, the app will be free for download yet some of the features will be unlocked only on payment. If your app which comes with the free features is successful, the users will waste no time in purchasing the other features.
This is best suited for apps which are operating for the retail and educational oriented businesses. Another important fact is that the services have to be ultimately useful from the user’s perspective.
Conclusion:
App monetization is effective for huge profits for an enterprise. The only criteria to make it well enough is to give emphasis regarding the user experience via the mobile app of yours as after all every work is done to bring out the best and satisfy your user base.
