Monetize your mobile app to make tons of cash. here’s how!
You finally accomplished it – A great design, an exceptional interference, and a satisfactory user experience in your mobile app.
You hit “launch” in the App Store. Like most app developers, you assume, “This app is going to be big”.
But. . . most of the times, your business mobile app is useful to gain the momentum that you thought of. At last, few downloads and much frustration. Perhaps another point of struggle for developers – successfully monetizing their user base.
To actually make users invest in your app, it takes exceptionally high awareness and brand name. As a beginner, it is actually impossible.
Then how to unstuck and proceed with a free mobile app??
There’s something else you have to do to make your app even better for your business.
Team Revival is glad to share smarter approach toward mobile app monetization. Monetization is actually a part science, part art, and this piece of content will walk you through top ways to turn your app into a profit-generating machine.
Read On To Learn
By excluding ads in your mobile app, you are missing out a phenomenal opportunity of monetization.
The communication between advertisers and consumers has been dramatically improved through digital advertising on mobiles. This figure is huge due to a large amount of time spend people on their phones, according to
Flurry Analytics. An average person uses their mobile device 87 hours a month.
But the problem is: these users are not willing to pay for the apps they spend their maximum time on. The decision to download an app that costs $0.99 slopes down. Users now have free alternatives to download a mobile app and proceed without the price tag. That’s why 90% of mobile apps have shifted to a freemium model, Flurry reported this July
Then, how you can monetize?
Simple. Offer a free mobile app, and utilize in-app advertisement option, like disruptive third-party pop-ups or prolonged pre-roll that act as a major deterrent for regular usage.
Earlier advertisers used to advertise by embedding in browsers or sending SMS messages. In 2018, this breakdown will look like:
Interstitial/ Full-Screen Ads –
To be found when moving between menus. These ads are positioned at natural pause points so that it will not interrupt user experience while they are using your app. The target is to generate clicks without causing frustration.
Notification Ads –
These are disruptive pop-ups that appear in the mobile device’s status bar and aware users of the ad’s presence. Caution! These are the most unlikeable ads and can affect your reputation.
Capture form –
These are user opt-ins that offer incentives (points or tokens) to users who enter their email addresses. More often, these capture forms are used in games apps.
Advanced Overlay –
Overlay in the form of transition points, like interstitial ads. However, these ads are interactive as compared to normal clickable ads. You can call this a mixture of capture form and full-screen ads.
Banner Ads –
A form of advertisement that can be noticed at the top or bottom of the app screen and less effective – as they are compared as more disrupting than forms. Users are often distracted with such ads, think twice before considering this type of ads in your business mobile app.
At last, engagement is our major focus of these ads, but a lot of people forget to outline.
Make it simple: better is the experience of your app, more and more users are likely to engage. The purpose is to entice your user to get to your end goal.
I have listed some question that you should ask yourself before implementing any mobile app advertisement plan:
- How to create a meaningful experience with an advertisement that will entice your user?
- What type of ads is suitable for your target audience?
- How to keep users connected with your brand through ads?
- Can these clunky or ugly ads ruin the user app experience?
Depending on your business category, the advertisers will pay you a considerable chunk of change to host their ads. A report shared by Zenith’s Advertising Expenditure Forecasts that global mobile advertising spending worldwide will rise US$187bn in 2020.
Choose very careful! Your decision is going to make all the difference in the profitability of your mobile app.
You might not consider this significant, but using an email strategy will help your app to gain more customer engagement, which in turn maximize your revenue.
Very often people change their email addresses. That means an email marketing campaign is the best way to ensure that potential customers are actually engaging with your content. A customer is more likely to buy from your business if you regularly engage with them on emails.
A research made by Wiselytics shows that the lifespan of a Facebook post is only a few hours, and a tweet’s duration is just over an hour. Whereas email has a lifespan of 12 days and you can collect those email addresses by accumulation an email subscription form in your app.
An in-app subscription form will give advertisers a great chance to enter customer`s inbox and engage with them.
You need to change your email strategy, according to your advertisement goal. Suppose, you have promotions or deals, then you need to send an access code in the email to make our customers enter inside the app.
For promoting a regular newsletter or a blog component on your website, you should remind your users through regular email about your new content.
Email lists are marketing gold whether you want to remind/offer something to an existing user or greet a new user.
Partnerships and Sponsors
By partnering with other brands, you can significantly step up your monetization game. Find a partner with a related customer base that can help you add something to the experience of your users.
Co-branding can simultaneously benefit your customers and your businesses, especially if you`re creating an integration between Localytics and Optimizely to study your customer behaviour and optimize your app through a combination of powerful A/B testing, analytics and marketing features.
Imagine a user on another app who found an interactive element with your brand logo. As a result, it can potentially convince a user to go download your app.
Sponsors ads are recognized as a popular and sophisticated process to monetize the display placements. These type of advertisement can be used to potentially promote a company’s products because there’s a solid probability of getting clicked by a user. Once a user will click that ad to go straight to your app and the method is known as click-through rate (CTR). The probability of getting a click is high as 12.5 per cent.
So, once you agree up to the thought of sharing and sponsor advertisements, it’s better to start with some partners and strengthen your reach.
In case, you develop your code from scratch that seems to be successful. A lot of brands are likely to approach you and offer to re-skin your app (either for their purposes or yours). You can sell your code to other developers and make money without hurting your users’ experiences
Temple Run is a popular game example that was re-skinned for Temple Run Oz as a film tie-in.
Your app’s endgame is another point to consider with code-sharing. As soon as your business mobile app attained enough popularity and is prepared to move to the next step. You can sell your existing framework to a buyer to create their own app.
By chance, there are available some easy to go option to do this. Using a marketplace like Apptopia, you can simplify the process of buying and selling mobile apps. You can make money by saving others time to create code from scratch – as it takes your app code to be initially constructed out of strong, desirable code.
Nowadays, most of the apps are free to download. But, that doesn`t mean it eliminates the opportunity to earn money within the app.
In-App purchases can help you make an adequate amount of money from your free app and enable customers to easily interact with your products.
This is a popular approach used in so-called freemium apps where a user doesn`t have to make any upfront payment – they just have to pay the cost for gated features.
In a nutshell, the concept of in-app purchase is: developers originate a fine line between premium and free features. Users can use limited options in a free version. For using use complete features of your mobile app, they have to pay you.
Bottom Line :
In conclusion, I just want to say a FREE mobile app can also support you to hit your bottom line. Also, you can expand your brand reach and make a connection with new clientele.
As per my consideration, I believed that white labelling your mobile app is the best to make extra money.
Take advantages of these strategies and watch your business is growing up and growing up!
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