Any business organization builds up a mobile App to act as a marketing channel for its brand to create its awareness in the market. Other than that an App is also an important source to gain new mobile customers, encourage customer engagement and eventually receive customer loyalty.
So after putting in all the hard work and the money to get the mobile. App launched you would want it to be a solid source of revenue, isn’t it?
Though there are a lot of App monetization strategies present in the market, today we’ll discuss how you can derive the maximum benefit out of each one of them and make your App earn revenue for your organization. So without further delay let us have a look at the best mobile App monetization ways in India.
Free App with In-App advertising
Most of the users prefer to download a free App as compared to a paid one. They would download a paid App once they are convinced that the App gives them the features they are looking for and provides them with the best solution.
So in such a case, the best way to monetize your App is through In-App advertising. The strategy out here is to get a sizeable audience to download your App and then you gather data on the people interacting with your App. This data is then sorted and sold out to the App publishers who pay you for placing ads in your App.
However, one very important point to keep in mind before going with In-App advertising is that the ads should not interfere with the user experience and frustrate them. To avoid this do not use ads that are disruptive in nature. When a user downloads your App the next step should be to engage him with unique content but if pop-up ads which are difficult to exit keep Appearing on the screen then it will disengage the user.
Hence, always keep in mind to have ads that are not disruptive in nature. One step which you can take to have successful In-App advertising is to place ads between the content but these ads should be relevant to the user.
For instance, if your App is about travel and ticket bookings then an advertisement for a dating App won’t make much sense to the user but an ad for a cab booking App will be of use to the user and he may even click on it. This practice will not only monetize your App but will also enhance the experience of the user. This strategy can help you in making money easily by selling data-driven advertising space.
With this App monetization strategy you offer a free version of your App in the store but certain features of the App are gated and the users need to pay a fee to unlock them. This is a great way to have users download your App and see what features the App is offering them.
Once the users get addicted and hooked on to the App they will not hesitate from buying the additional features. For example – If you have a gaming App then you can keep certain levels free and the later ones paid, also you can keep certain powers of the characters of the game locked which can only be unlocked by buying the full version.
If the users like what they get in the free version they will go for the full version. Another way to go about it is to offer the App to the users on a trial basis for a few days after which if they like the features of the App then they can upgrade to the full version.
For Example – The SignEasy App which allows you to sign documents digitally without having to go through the hassles of signing a document and then scanning it, allows the user a 7-day free trial of the App after which the user can buy a subscription to the App if they want continued services.
Paid Apps Free of In-App Advertisements
Paid Apps that cost money to download allow businesses to earn money upfront- that is each time you have a new user you earn money. This App monetization strategy is great for your App if it outshines features, ratings, and reviews among the other free ones based on the same concept available in the store. The most successful paid Apps do a great job in selling their unique features which differentiate them from the other Apps.
The biggest advantage of this monetization strategy is that the users who install the App are likely to become engaged users since they chose to pay for your App rather than install a free App. Also, since this model is free from in-App advertising hence it provides a smoother experience for the user.
Apart from all this it also motivates the developers to focus on innovation as paid Apps are expected to be the top in their field. If you can provide the users with all these features so that he feels that it is worth the money then this App monetization model might just be the one for you.
In this monetization model, you can sell physical or virtual goods in your App to earn revenue. This can include anything from selling clothes to accessories to services. This model turns your App into a sales store for physical goods and into a mobile storefront for virtual goods which are used inside the App. This model works very well for e-commerce or m-commerce businesses.
If you have a newsletter or run a blog then Email subscriptions can be a great way to drive customer engagement. Regular emails to the customer keep your brand alive in their minds making them more likely to buy from you. This will generate more money and the best way for you to collect all these email addresses is to put an email subscription option in your App.
By putting an in-App subscription form in you will boost your App especially if you allure the users with some exciting offers or coupons which they will get in their inbox if they subscribe to your blog/newsletter.
So which App monetization strategy are you likely to use for your mobile App? Contact us to discuss more your project.