After launching an awesome Mobile App and connecting with your customers, you might be thinking what else you can do with your App. The answer is of course that you can use your App to make money. But how? In this article, we describe some great app monetization strategies.
A great tactic of getting the customers to buy from the App is In-App Purchasing. The user downloads the App for free but is given the option of making purchases while using the App. The items purchased in this method are bought and used within the App. But with this method of monetization, you have to ensure that the In-App purchases are adding value for the customer and that the customers will return for more purchasing in the future.
The most significant thing to remember when applying ads is to ensure your customers’ experience isn’t disturbed. Ads can be an effective choice if you accumulate data about your customers since you have the chance to display highly-targeted ads. Displaying unrelated ads to your customers risks generating an impersonal experience, that will repel customers.
A good way to tempt consumers to purchase a paid version of your App is to offer them a free version first and then ask them to upgrade to the paid one to access premium features. The benefit with this monetization strategy is that the customers get to the use the App first before deciding to get the paid version.
This method is pretty simple. The user pays once when downloading the App. This strategy can, however, backfire because in the era of free Apps, it may be difficult to convince users to pay for an App that they haven’t ever tried before.
If you create an amazing app and acquire many users with a free model, you can authorize your code to new developers and earn through it without disturbing the experience for existing users. You can bring value to other developers by assisting them in saving the time and struggle of developing code for your already-functioning app.
The App download is free but the user can access only a certain volume of content before being urged to sign up with a paid subscription. Subscriptions work like a free trial. But the tricky part here is to keep adding content that is new and useful for the consumers so that they don’t lose interest.