The mobile app market is immensely huge and it is growing at a rapid pace. Just being present on the app store or in the device of a user is not enough: you have to make your presence felt if you want to make money from your app. The more visibility an app has, the more chances of downloads, in-app purchases and sales you get.
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Making money from your app is not easy: there is too much competition in the market. Along with app conceptualization and actual building of the app, you need to invest enough time in finding and defining ways in which your app will make you money.
There are many methods of app monetization, but before you choose a method, you need to do some thinking. The tips in this article will help you build a foundation for app monetization. Here goes…
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• Think marketing and monetization
App monetization doesn’t come after you have developed the app. You need to market your app and start working on monetization right from the word go.
What you need to do for that is RESEARCH. Start studying different monetization strategies and then decide which of the points is worth working up on for your marketing plan. The biggest advantage of doing it is that it makes the marketing of the app much easier once the app is launched and also makes it better as people already know about the app before it came on app store.
• Adopt different strategies for different platforms
Many don’t understand it and I think this is one of the significant reasons why sometimes strategies don’t work despite having good ideas in it. Every platform has different dynamics. Make your strategies accordingly. So you need to do is to understand your platform properly.
Research and find what strategy works best with a specific platform and make the knowledge work for you. For instance, most Android mobile apps fail to make money through paid app downloads. But, in-app purchase and in-app subscriptions are powerful sources of revenue for Android developers. For iOS, paid app downloads may work. So, study the platforms and make the right strategy for monetization. If you follow the same strategy for each platform, it only works on some.
• Make it about users
This one is extremely important to understand. It’s all about users. Your app will not succeed it you piss off the users. For example, if you application is filled with pop-up ads or full screen ads, the mobile users will drop your all like its hot.
When your add displays on the app people are using, make sure it does not annoy them – you can use in-app ads and other such strategies, but you need to get it right. Make sure it entertains, not irritates. Respect the privacy rules and never violate them. Do remember they are different from every platform. Place your app that complies with the respective platform’s policies and criteria.
As long as the users like your app, you will find a way of monetizing your app.
• Ask for help online
When you need something, do ask for it. Internet is like an ocean, you can explore as much as you can. There are always online forums, discussions and blogs. There are number of developers out there to help you out. Sometimes, it is best to talk with someone who has been there and done that.
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• Pay attention to the industry
Mobile app development is changing rapidly like every other industry. You may be happy with your app monetization plan, but if you do not keep yourself updated with the latest trends and changes, you’ll be left behind. So be ready to adopt changes if you want your app to keep on generating revenues.
Keeping these things in mind will help you choose the right monetization strategy for your application. If you have been monetizing your app well, please add your experiences in the comments section!
Image source: intexsoft.com
What’s your monetization strategies for mobile apps? Do share your views in the comment section, we’ll be glad to hear from you. Authored by Nilesh Talaviya – Edited by Nizam Khan This Guest Post contributed by Nilesh Talaviya – Mobile Application Development Consultant working with Cygnet Infotech, top notch iPhone app development company based in India. For developing mobile app contact at email@example.com
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