It is a fantastic decision to build your business application to give more exposure to your brand. Designers and developers will give you a ground-breaking application. But it’s not enough! You cannot be a billionaire in months with the help of your app. No one is interested in buying an app even if they have to pay just $1. This is because they are getting so many other options for free. So, it’s get very difficult to make money out of your app. You have to think extraordinary while creating an app and your concept has to be outstanding, then only you can imagine yourself in the list of those 10% apps that generate more than 90% of their income from their app.
How To Make Money From Your App?
Monetizing a mobile app has got harder, or become nearly impossible especially in this saturated market where similar apps are available for free. You have to be more strategic while advertising your app. You need to explore app market and specific niche to think up the right revenue strategy. Let’s understand some strategies to monetize your app.
Advertising: Including ads in your app is one of the biggest opportunities that you cannot afford to miss. It is tried and tested method of monetization. The idea behind advertising is that your app will be available for free, which means you will offer all your app features to be accessible freely to the users. This will help you acquire a large customer base. You can show ads within your app and earn money every time a user takes any action on the ad like views it, clicks it, downloads it, etc. This is the great way to generate revenue.
Emails and Signups: Emails and newsletters are the best ways to push your app. The email strategy ties-in your app in an outstanding way and engages more customers, leading to more money. The email marketing campaign can prove useful as users will see your content and connect with it. This email strategy keeps your brand at the forefront.
Pay to Download: You can also make your app paid. Users need to pay a price to download your app. This model has a low success rate, but many have also been successful in earning good. You may also offer your users to download and install your app for free, but to access all the app features, they have to pay some amount. This may prove beneficial.
Partnerships: Partner with other brand as this association will help you step up your app monetization strategy. Having a right partner can be a great source of revenue as you can create an integrated experience.
In-App Purchases: You can offer your app for free to download to the users, but you can encourage user to make purchases as they start using your app. They have to pay for gated features. They will get the opportunity to buy different products being offered on your app and have them shipped.
These points will definitely help you expand your brand and reach your potential customers, which was never possible before. You can also create a considerable source of income through your app. What required is a little imagination and smart tactics.