We are experiencing a massive influx of apps these days. Literally hundreds of apps are launched daily, most of which never make it to the news and get lost forever within days because of lack of practical approach, planning, idea, and above all, monetization plans. To build and launch an app is easy, to make money out of it is something which requires expertise, patience, channelization of resources and promotion. Here are some of the best ways to make money out of free or paid apps.
Best Ways to Monetize your Mobile App
Advertising is the first and most important way to make money with apps. You can use different ads platforms to access ads, design ads, select banner ads and more. Google is still the behemoth of ads in the mobile. You can check AdMob, Google’s subsidiary of mobile ads. It is a free and open source platform, and gives you a lot of control. Millennial Media is another advanced ads agency which lets you promote your app across different channels in different strands of budgets. You can check CPM, ads sizes, select audience and much more using this powerful platform.
In-app ads are the zeitgeist of the modern ads industry. Users are moving from web to mobile, so are the advertisers. You can host ads in your apps. These ads could be of other apps, services, restaurants. But this strategy requires extreme care, design expertise, because if your users feel that you are spamming them with ads or blocking their interface of app with ads, they will never come back to your app and that will cause you app to go straight down the hill within days.
Go for the Freemium Model
If you are a novice player in the realm of apps industry, and planning to launch your first app with a price tag, I would say think again! In order to make a successful entry, your first app should be free, or at most, it should follow the “Freemium” model. Freemium model means that some basic features of your app would be free, but in order to unlock the advanced features or levels-in case of games- users will have to pay. This way, you can hook a vast user base. Everyone is happy to try a free app, and in case you app has an addictive idea or usability model, people would be happy to pay.
Don’t Forget Conventional Ways
SMS marketing, newsletters and sign-ups may look annoying and archaic, but these are still the most prevalent and useful ways of getting huge customer base for your business. You can make your app in a way which could make users to give their numbers, or encourage them to sign up. Making users start interaction is something is of vital importance.
These are some of the best ways to make money out of your mobile app. Share your feedback and suggestions in comments.