Mobile App Monetization: What you should not miss

Mobile App monetization refers to making money or generating revenue from the apps. Today, most of the developers are focusing towards the mobile app monetization to make more money. If we talk about the apps, there are two types of apps available in the market, free apps and paid apps. The paid apps have unique and advanced features which force users to buy the apps. On the other hand, most of the free apps have In-App purchases.

In this article, we will discuss some critical points that you should not miss during mobile app monetization.

Before selecting a monetization strategy

You should take care of the following points before you prepare a monetization strategy.

Know your audience

An audience is one of the most crucial factors that affect the app monetization. All app development companies analyze their audience size before monetizing the app. You have to understand your target audience. Analyze the users' demographics and their app usage patterns. The analyzed data will help you in making further steps.

Understand yourself and users' need

Question yourself, "Does the app am I going to build, fulfil the needs of the users?" Analyze the users' needs. Their needs will help you build a valuable product which will result in profitability. Moreover, it will also increase the demand for your app in the market.

Build a valuable product

After you understood the needs of the users, you can build a useful product for them. Also, you can plan for the mobile app monetization strategy. Focus on the quality. Remember, the more you focus on the quality, more the users will pay.

App promotion

If you want to make more money through app monetization, you should not ignore the app marketing. The more people will know about your app, the more you will grow. Hence, it is necessary to adopt the best app promotion strategies. We have listed some of the app promotion strategies, have a look:

Social media

Social media is a platform through which you can reach the maximum number of people comfortably. According to the statistics, about 1 billion people are active on the Facebook. Talking about the Instagram, it has nearly 100 million active users every month across the world. Now you understood, how the social media will help you promote your app.

Apart from this, you can also join the Facebook groups. Via Facebook groups, you can reach a higher number of the audience quickly.

Create a demo video

A demo video will show the contents if your app. It will help users know that whether the app is suitable for them or not. Make a video with good graphics quality. If you are developing a game, show the best moves of your game in the video. It will attract more users and increase the app downloads.

App icon

The app icon is the mirror of the apps' features. It gives an idea about apps' content. Hence, you should create an attractive app icon. You can consider the following points:

• Select a unique shape for your apps' icon.
• Keep the colours limited.
• Avoid using a photo.
• Avoid a lot of text.
• Think creatively.

Email Lists

The email marketing is a long-term approach to make more money.

Why?

• Because people rarely change their email address.
• Later, you can conduct email marketing campaigns.
• Regular emails will also keep your brand in the mind of the customers, making them more likely to buy your products.

According to a report, a post on Facebook has a short lifespan as compared to the Twitter or Email. If you have any promotions or deals, you can directly send them the promo code via email. Or, you can mail newsletters. But for this, you should have a website and number of subscribers. You can hire any website design company to design your site. Developing a website is a one-time investment, as it will pay you for a long time.

In this way, emails will help you increase your sale more effectively.

Advertising

Ads are one of the crucial pillars for app monetization. Advertising will help you eliminate the cost barriers. It will encourage more people to download your app. You can follow any advertising methods; some of them are given below:

Banner Ads

Banner ads are located at the top or bottom of an app. They are more distracting the other ad formats. They may frustrate the users. Hence, you should study the users' experience before applying this approach.

Interstitial Ads

The appearance of these ads is more likely to a TV commercial ad. These ads are most popular among the games. You will get good results from these ads if you implement these ads correctly.

NOTE: Mobile app advertising is an effective method of app monetization, but the ads should be relevant to the users.

Paid Download

The most effective way to generate the revenue is the paid app. By selling your app in the store, you can produce a high income. It is like a one-time investment plan, here, users have to pay for once to purchase the app while downloading it. But this model is full of challenges, because today, the stores are full of free apps. Due to the free apps, it is tough to convince them to buy your app. You have to show them why they should buy your app. It is a very challenging task.

When to choose a paid download option?

• You have a strong marketing background.
• Your app offers the unique features compared to the free apps.

In-App Purchases

In-App purchase is an integral part of app monetization. Hence, you should not miss this one. Your app will remain free to download and use for the users. But, some of its features remain locked. These features are available only for the premium users.

The In-App purchase is the most effective method to generate revenue. If the users like your app, they will surely make In-App purchases.

When to choose the In-App purchases?

• You have apps like retail, gaming, education, etc.
• The services you are offering are beneficial to the users.

Closing words

App monetization is an excellent method to make huge revenue. You should consider the users' experience while monetizing the app. For example, placing ads is a good approach. But if your app is showing too many ads or if the ads are irrelevant to the user, it will lower your apps' score. Moreover, if users are getting the same features in a free version of an app, why should they purchase your app? Therefore, you should apply monetization strategy by taking end users in mind.

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