Best Ways To Monetize Your Mobile Application
Most of the application development projects are not considered successful if they do not generate revenue at the end. Today we want to show and describe some of the most popular ways of the mobile application monetization.
A question of monetization of the future mobile app development product is one of the most important and reasonable questions for the most SMB and startup entrepreneurs. As an experienced mobile application development company, we have faced this question many times and unfortunately, the ultimate answer to this simply do not exist. The reason is that the possible ways of monetization depend on each mobile application in particular.
There are many obvious and not so obvious ways of how you can monetize your application. However, if you did not consider the solution for your particular mobile application – you should not launch the development process. You must perfectly understand how the income will be generated by your mobile app to ensure the overall success of the efforts that you will need to put into the development process.
In this article, we have summed up the most popular ways for the mobile application monetization which we have used in our development experience.
Top 5 ways to make your mobile app profitable
Now, let’s take a closer look at the real use cases and specifications of the most common ways to monetize a mobile app.
1. In-app advertisements
As it is still one of the most popular ways of the mobile app monetization it is also the most hated by users one. If you decided to monetize your app with advertisements, you need to keep a balance between the usefulness of the app and the number of advertisements.
It is important to define if users will visit your app frequently and their sessions will commonly last long before adding such monetization method to the app. To ensure that, you need to be assured that the content of your mobile app is highly valuable.
2. Installation charges
Charging for the installation of your product is the most obvious decision to make. However, the most important thing to clarify before making a chargeable app is to assure that the value of it is niche and unique enough to be appealing enough for a purchase.
This type of monetization works best for the healthcare and medical industries. Also, time-management applications are one of the most popular ones to make money this way.
To assure the success of chargeable mobile application you need to ensure that your app has unique features which will be reasonable for users to purchase.
3. Freemium application
To put it simply, you provide the users of your mobile app with all the basic features and in order to get access to all the available and most valuable features, a fee is required.
The biggest advantage of such method is that the users can try your application before having to pay for it. Hoverer, it may be challenging to define the line between free and chargeable features. Depending on your particular application, you must carefully define what content will be available for free.
4. Subscription-based application
Subscription-based method of monetization is currently the top trend for mobile apps. Similar to the freemium model, this one requires the users to subscribe in order to get access to the app’s features. A fee may be required for all the features of only for premium content.
This model perfectly works for content-driven mobile applications and the main advantage of it is an easy attraction of the users.
5. In-app purchases
This model is commonly used in mobile games but still works for a lot of mobile applications too. Whether it is an in-app content or in-app currency, another profitable decision for the mobile app entrepreneurs is an in-app purchase.
However, it is important to make sure that it will be reasonable for users to make in-app purchases in order to get an improved experience of the app. This model perfectly works for dating applications like Tinder.
The best way to monetize your mobile application completely depends on its specifics. To select the most suitable method for your business you should analyze all the pros and cons of each.
If you want to make sure that your mobile app development project will be beneficial and attractive for customers – get a free quote from an experienced team.
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