Nearly 90% of mobile users spend their time on applications. A news for Top Mobile App Development Companies to get delighted! The number of apps is increasing, which is another exceptional news for app development companies. Since the apps are available in a greater number, mobile app development companies can practice the monetization techniques to earn more and more profits.
The excellent ways to monetize your mobile apps is to invest into a number of strategies that we will discuss later in the write-up. Monetizing a mobile application has now become much easier. There are techniques as well as strategies that are going to pay you right away. Let’s now dive deep along with me to know mobile app monetization practices.
Practice # 1 Advertising on Your App
What if I tell you about an AdSense like technique that would add profits to your application? I am sure you would be glad to know about the same. Using advertising services is one of the most used mobile app monetization techniques that a number of top mobile app development companies follow. This is a strategy that can easily be followed by the best mobile app development companies.
The most popular in-app ads that could be used are:
- Text ads.
- Video ads.
- Banner ads.
- Native ads.
Video ads are one of the best techniques that can help to add more profits to your earnings.
Practice # 2 Charging for App Installs
A greater app speed can be the reason for your audience to download your app through an app install. Let’s face it, the fact that there are a number of apps available in the app store that too free of cost makes it a compulsion for you to offer something worth the value to your audience. The best you can do from your side is to create an app that has got an exceptional speed.
Practice # 3 Invest in Freemium App Model
Studies have claimed that 64 percent of freemium users make a purchase every month. This model allows users to use certain app features free of cost after which they need to make a payment to use advanced features. This is one of the best strategies to attract the users first with the in-app features and then charging money from them for advanced features.
Practice # 4 Using a Subscription Model
Subscription works just like freemium model i.e. it offers an easy app access to the users for a particular time period and then asks them to subscribe. The strategy has been proved an exceptional one for the “Candy Crush Game” for which a number of users opted for the subscription.
Subscription model works the best for the apps that serve long-term value such as:
- Content driven apps in the place for news, videos etc.
- Exceptional functionality that improves human behavior.
- Unlimited access to the app feature.
Apps that offer the value to the users are sure to add more to the monetization techniques. These subscription methods have helped a number of apps that include Vogue, Tinder, and Netflix to grow their prominence among the audience. The users wish to explore the advanced features and they do not even hesitate to pay for the same. And, this is due to the amazing app features. In addition to all these features, easy fund making techniques such as “Crowdfunding” can help an app get the funds easily.