Nowadays the amount of time spends by people with
their smartphones continues to increase. According to comScore’s, “the average
American adult spends 2 hours, 51 minutes on their smartphone every day, about
86 hours a month.”
This is a reason mobile commerce has now become a
major attraction of retailers. According to eMarketer “mobile’s share of
U.S. online sales will surpass 50% by 2021. In other regions, the
figure is already well above that”. Retailers are now investing in mobile app
development to know every phase of their customer journey
and to earn money consistently. But monetizing an app is not an easy task
because most people don’t want to pay for downloading a new app for their
smartphones. Therefore to earn money app developer allow ads to be placed
within their mobile applications to generating revenue, it seems good but it
often backfires when the propagation of ads disrupts the user and make them to
delete the app altogether.
It also not makes sense to only rely on
advertisements for earning money if your app is doing good in the market: that
isn’t possible without a big marketing budget to start with. Therefore for an
app, ads are not always an effective method of generating predictable revenue.
Best way to make money persistently
For developers, the efficient way to make money is
to offer “freemium” apps; an app itself is free to download. These kinds of
apps allow users to make additional transactions and involve subscriptions
charges or even permit users to buy physical goods within their digital app.
According to a study, only 5.2 percent of smartphone users make
in-app purchases, but those users can spend twenty times as much as other users
on a monthly basis.
How to make money with your app without
ads
There are various ways through which you can
monetize your app without ads, let’s discuss a few of them:
·
Use “freemium” app model
·
Develop a paid version of your
application
·
Have users subscribe to access your
services
·
Start app referral program
Let’s
have look at above-mentioned ways more specifically:
1. Use “freemium” app model
Recently, the freemium app model has become a
leading strategy for mobile app monetization as more than 61% of mobile app
development companies suggesting it. This app model allows
app users to “Try before Buy”, means allow them to download the app for free
and pay later for additional features. It can be for one-time use, monthly use
or for yearly use.
2. Develop a paid version of your app
For a paid model of an app, users have to pay the
full amount to download an app but most of the users are unwilling to pay for
an app, therefore, it’s not the best way to earn money. The paid model of an
app only work best when:
·
The app belongs to a renowned company
·
There is no free alternative
Other than this, mobile app
developers who want to monetize their app using a paid
model will mostly create two separate versions of their app; a premium version
and a free “lite” version that often has advertisements.
3. Users subscription to access
services
This is the best model for businesses that offer
oft-used services such as news, music, videos, books etc. This service unlocks
the content and other features for users. It can be automatically renewing just
like Netflix. In this app you have to pay monthly charges and amount will
deduct from your bank account automatically.
4. Start app referral program
Currently, an app referral program is gaining a
huge attraction of users, recently many apps have applied this strategy and
have increased their user base. In this program app owners may include a
section that directs users to other apps. By directing users to other
productivity app is compensated for referring new customers to related apps.
Both Apple and Amazon are using this technique to offer affiliate programs for
mobile app developers. Amazon permits Android developers to sell its
merchandise through their app and share the profit, similarly
Apple’s Affiliate program allows iOS developers to
earn money by connecting Apple Music and iTunes content in their app.
Summing Up
No matter what kind of mobile app you have created,
marketing plan to successfully monetize your app should be given just as much
consideration as creating a user-friendly platform.
If you have created convenient and repeatable
in-app transactions, then the chances of a better app position will
automatically increase and you can retain your users and generate lasting
revenue.
To
know more about mobile app marketing, contact us at
+1 (512) 333-1321 or
visit Consagous
Technologies.
