Having an application and not monetizing it can really be dangerous thing. You ask how? Imagine after some time of the launch, you have no money to continue it. So app monetization not only helps you to earn more money and retain your customers but it also let you continue your app (in the rare case if you don’t have any service to provide). In the world of digitalization, businessmen have also understood that without a mobile app and digital presence, it is very difficult to survive from aggressive competitors. Not only to edge the competitors, but an app can keep the existing customers and can bring new customers as well to boost the business in a short span of time. Apart from the customers, an App can give profit with different means as well.
App Monetization Strategies:
Various businessmen are dedicating their efforts as well as resources to get a custom mobile app. But a custom mobile app cannot cater the ultimate requirement of business. Everyone is concerned to earn profit from a mobile app. Here, you can encourage your million dollar idea by complying with the following tips:
1: Start Giving Free services:
A free services doesn’t mean to provide complete services for free. A free service should be in the form of tutorial or demo service. It can be in a YouTube video or blog or anything else from where app can be promoted and gives access to install the app so. A free service always builds good reputation and a great way to do public relation and it has been adopted by many successful companies, even Top mobile app Development Company also uses these techniques to promote itself.
2: Enable AdSense:
It is one of the most used app monetization strategies. For application, google has an advertise based service called “admob”. More often you must have heard about “appreneur success stories” and the next thing will again make concern about the Return of Investment. But now Google has a supportive platform and has provided opportunities to enable AdSense to every mobile app and website owner. By enabling Adsense the website, App and YouTube Channel has become a Google Display Partner. So the procedure starts with receiving ads, these ads are Google Approved ads and are published by the Google Adwords professionals. Google shares up to 50% profit margin to its Google Display partners but it relies upon the category of app, website or YouTube Channel and the number of subscriptions, App install and other different things. After attaining certain number of installs and traffic the percentage of share of profit increases and that takes the profit level on a considerable height.
3: Affiliate Marketing:
Affiliate marketing has become a very prevalent technique now days. This has one of the prevailing strategies used by mobile app development companies. This app monetization strategy can be used as a separate section in app or in the same section. You will send your traffic to buy something from other website and then you will get some portion of the money spend by your app visitor as a commission . Partnership with E-commerce websites or Mobile App is the vivid examples of it and a lot of blogger. Most of the appreneurs can take the benefit out of it.
4. Selling ad spaces: How to Sell ad space?
According to All Blogging Tips, what brings a handsome chunk of income when banner spaces are sold for a niche product with the ultimate motive of diverting good amount of organic traffic.Blogs that are dedicated to promote high end products are effective enough to captivate the attention of serious marketers. What makes it quite popular over AdSense is the share of revenue since a whopping discount makes it attractive while selling the Advertising space on blogs enable to owe abundance selling space.
There are three ways to sell ad space:
- Directly going to advertisers and agencies
- Use ad exchanges like mopub, OpenX and DoubleClick
- Using ad networks like inMobi, Admob and Juice Mobile.
5. Writing paid reviews:
A sense of curiosity always springsup ”review apps get paid”. Are you aware, why people utter this stance? In this world of digitalisation, importance of blogs has already been established. Millions of people are turning addicted to read blog. As far as mobile app development company is concerned, a company can generate considerable amount of qualified traffic. To earn profit, it even pays for paid reviews as far as sensitive blogs are concerned to intensify the essence of niche product. At the end of the day, not only it triggers link popularity, but brand credibility as well. Another factor, which makes it satisfy to understand the behavioural trend and consumer tastes in order to delineate the target audience.
These 5 techniques are not only the most successful and authentic way to earn huge profit from a mobile app but re-branding of the organisation as well at the end of the story.