Every startup and developer think that Build an awesome app.
Launch the app.
Make lots of money. Wonderful!
But, it is not easy as you think.
There is a massive amount of mobile apps, with over 1.6 million apps in Google Play Store; 1.5 million apps in Apple’s App Store; but very few of them generate revenue.
Why startup building an app? Yes, they want to cultivate loyalty, create business awareness, gain new mobile users, provide a benefit, and more. Often, mobile apps are another marketing channel for businesses and after everything you’ve put into getting it launched, you also expect it to be a solid source of revenue. Right!
Many startups companies are in search for generating better ROI through mobile application. App monetization strategy is consider important in this regard. But to make a new app and market it is not easy for startups these days. Monetizing the app is a dream come true for any startups in this very competitive market where free apps in more demands than paid apps. To generate a better ROI in this competitive zone where hundreds of startup start each year. Startups who are determined to build a serious business also need a solid monetization strategy in their marketing plans.
As a mobile app marketing expert at a mobile app development company, I began my journey by helping startups monetize their Apps. By embracing the shift to mobile, my team and I were able to learn some of the best app monetization strategy that can help startups to generate a significant source of revenue from mobile app without the use of banner ads.
Today here I am going to list out few best app monetization strategy for startups that help them to generate good amount of revenue. Some of the simplest ways to monetize your app are below:
Start with Strategy and Identifying Right Business Model for Your App:
Without an app monetization strategy, driving business success is like you are driving a car without wheels. Include Application and monetization need to be part of your strategic marketing plan. Your plan must fit your target audience and overall objectives. First think about which would best suit your app.Start by answering the following questions.
- What is unique about your app?
- What are your revenue goals?
- Which audience segments do you want to target?
- Do you want to increase your reach into certain demographics?
Remember, app monetization strategies should be chosen and built into your business model before you launch it in the app store.
This is the best monetization strategy many app owner and publisher use a freemium business model but some of the features are locked and unlocking them when user costs money.In which the app owner allow application download is free and there are items available for purchase within the application itself (extra features and functionality, virtual purchases, etc.).
Find the right monetization partner:
- In app advertising within your app allow you to monetize without asking for money directly from users but it is a common monetization strategy.
- We all know that mobile app developers aren’t advertising experts, they only develop your apps it’s critical for startups to find a partner that understands both app development and advertising.
- Are you going to devote some of your app’s real estate to advertising?
- Are you going to purchase mobile ad space in other apps?
The right mobile monetization partner and ad network will be able to help you with both strategies. So before going for in app advertising or something else for making money find out a right partner that can help you to know how you can generate more revenue by using other mediums.
Monetizing through In- App Purchases:
This monetization strategy model turn your app into another sales channel or a mobile storefront.In-app purchases gives different options for businesses to convert the value of the app.Many app developer have ads in their apps to get paid for clicks or impressions.This model might be right for you if you’re an e-commerce retail or services app you provide goods with clearly-defined value.
Don’t let advertising wreck your app:
Be remember when you place an ad on application it would be relevant, attractive and appropriate. If the ads displayed in your app are irrelevant, ugly, for your customer profile, and block basic usability, ads pop up too often in your app, are ugly, block app functionality, or don’t align with your customer profiles, they may actually work against you. Your choice of ad network can play a role here, too:
Finally, there are many app monetization strategy we can follow to generate revenue all depend on the type of your business models. To keep in mind that mobile app monetization is an evolving space, with lots of innovation and efforts need to put that help you generate revenue. You need to keep in touch with trusted mobile app company who can help you. There’s no reason your app can’t turn into a dependable revenue generator. For tips on marketing your app to increase your mobile ROI, contact us we will defiantly help you.