Mobile App Monetization Strategies: Turning Downloads into Revenue
Are you thinking of developing a mobile application?
Your idea seems valid but are you wondering how to monetize it? An app is certainly not created for pure fun, but rather to make a real business capable of generating profits.
There are numerous paths to take: how do orient yourself and choose the right tactic?
In this article, Zcoderz will help you master monetization in the booming app market.
A Guide to App Revenue Strategies
Apps and monetization strategies are two concepts that must always be considered by companies and individuals who decide to intercept an expanding business.
The mobile application market is constantly growing, and this is because in a system of supply and demand, users are increasingly accustomed to mobile digitalization and companies are trying to intercept them by creating apps for their targets.
This in terms of pure marketing demonstrates how the market of applications, their development, and their use is a truly advantageous source of profit for companies that decide to apply monetization strategies.
Winning Strategies to Boost App Revenue
Let's see specifically how to identify each of them and how to make it possible to implement a profit strategy linked to the development, launch, and use of your mobile application.
Freemium Applications
One of the most adopted solutions is to make a free basic version available to the user with limited features and offer additional paid features.
This method is mainly adopted in the gaming world, where users are more likely to test a product, they don't know for free rather than blindly buy it.
The upside for developers is that by doing so they can demonstrate the value of their application.
Charge For App Download
Another viable option would be to charge users a one-time fee to download the app, while updates and additional features are released for free.
If you decide to adopt this model you will have to ask yourself why should a user buy your app without trying it. In this case, the communication strategy is fundamental, to push people to download for a fee you will have to be good and convincing.
The apps that mostly fall into this category are utility apps. Keep in mind that by choosing this monetization method you will have to be good at constantly attracting an ever-increasing number of new potential customers.
Charge For Both Download & Additional Features
This is a hybrid monetization model that has recently been gaining ground, encountering much criticism and discussion as many find it unfair to make app users pay twice.
Making money by choosing this path will not be difficult if the application offers real value and is useful.
Make Money With Advertising
If the first two solutions have not convinced you, there is a third possibility which sees advertising as the only source of monetization .
Be careful not to overdo it, because if advertising becomes invasive, you run the risk of annoying and making the experience of using the app less pleasant, and this could result in losing the user.
Consider that the use of advertising banners as a source of income is recommended only if the application has a high number of downloads and active users.
Adopt a Winning Marketing Strategy
It is indisputable that when you decide to carry out a project that involves the development of an application, the main objective is to turn your idea into a real business. To achieve success, it is necessary to define the correct marketing actions to undertake.
From the app design phase to the market launch there are some fundamental steps to respect.
The first step is to prepare a media kit that includes a high-resolution logo, a graphic preview of the app, a press release, a reference micro-site, and a teaser video.
The next step is to start building a database of contacts potentially interested in your app.
As? Free rein to creativity, an idea could be to invite users to leave their data in exchange for updates on the launch date of the application.
The third very important step to generate online movement is to get in touch with industry blogs and popular sites that could write about your app.
The main investment to make is to dedicate time, persistence, and creativity to the project, by doing so you will be able to obtain good results in a short time.
To Wrap Things Up
Some different methods and strategies can be implemented in your apps to generate revenue: there are completely free apps but with advertising, paid apps, and the most common freemium apps, and each method can be perfect for a specific market and for a specific reference target.
Only by carefully planning the marketing strategies you intend to use and putting them into practice in consultation with industry experts such as Zcoderz’s team, will it be possible to develop a fully performing app that can generate earnings.