Someone has rightly said – there is an app for that. No matter what we do or what we want, new mobile apps are coming up to help us out through everything.
Mobile apps in this new digital age are a great way to improve your already established business even more. Mobile apps not only increase your brand value but a nicely developed app can significantly increase the revenue of your business. Sure, building a mobile app takes a lot of money. So you naturally want to be sure that your new app would make some profit.
According to a report by Sensor Tower, the global revenue from mobile apps reached up to $ 56.7 billion, just during the first six months of 2019. Here you go! Now that you have an idea that you can make a considerable amount of money from mobile apps, check out these points that would tell you how you can improve your chances for the same.
This is one of the most popular and convenient ways to make money from your mobile app. In a simple language, freemium versions are something that your users can download for free. But these free versions have only limited features and to access the premium version with all the complete features, users would have to pay the amount that you would set for them.
You can charge for the premium content in two ways. You can either set a fixed price for it or you can provide a monthly subscription with updated premium content every month.
So, offer your users a basic version free of charge. But don’t forget to add some compelling features that would urge your users to buy the premium version of your app.
If you want that your customers pay right at the time of downloading your app from Play Store or AppStore without even sampling it, then you have to provide them with something that they have never seen before. You have to integrate a compelling content in your app, for which your users would use their debit and credit cards and pay on Google Play Store and Apple AppStore.
Apart from mind-blowing content, you also have to take care of the pricing. Because you surely don’t want your customers to close the download page, just after they see the price.
However, both Apple and Google take around 30% of every download and every sale that you make on these platforms. So, consider your app-selling profit according to that.
This is another good option to monetize your app. Your users can download your app free of cost but they have to see the in-app advertisements for which you will be paid by the brand which you are advertising.
You can benefit from this method in many different ways. You can show the ads by appearing them full screen at regular intervals, or you can flash the ads on the bottom of the screen for a longer period of time. Gaming apps make use of this method by giving the users in-game prizes upon seeing the video ads.
However, this method is much more effective when your app is downloaded by a large number of people and a majority of them run them on their phones frequently.
This is an altogether different kind of mobile app money-making from the rest of the points that you have read. mCommerce or mobile commerce is the selling of goods and physical products through mobile phones.
Apart from top online retailers like Amazon, Walmart and eBay, various established and small businesses are also coming up with their mCommerce mobile apps to sell their products. From big brand names like Nike and Decathlon to small new businesses like Bewakoof and Max, every brand is focusing on building their mobile app to sell their products.
So, if you are developing an app, then monetizing it will automatically be on your list of priorities. And if you are keeping these points in mind while developing the app, then the hard work will surely pay off. Just wait for it to happen. Happy developing!