Developing an app isn’t a painstaking task anymore as any mobile application development company can design and develop your app. But getting revenue out of your app remains puzzling. Be it – Entertainment or Business app, every appreneur wants to increase his/her return on investment (ROI) through app monetization.
There are several strategies to monetize your app. You can adopt one or many ways or try different strategies for the different time period. Here, are the most effective methods/ways to monetize your Android app.
Using paid apps: One of the easiest ways to generate revenue is to charge the user with a one-time payment for your app download. However, this strategy works only for certain condition where the user should add value to your app and no other competitors offer free or lesser options.
Monetizing through a paid app is simple and easy. Once you upload your app in the Play store, name a price, select your region and then publish it. Make sure you deploy some marketing strategies like the web and mobile ads to reach your target audiences. It’s the crucial role of the marketing strategies to convince your potential users to download your app for a price.
Freemium: Have you ever wondered why the top grossing apps are free?
It’s just because people like freebies, why to pay for something when you can get it for free. But, how will I get revenue from a free app? Don’t be anxious mate, you can generate revenue through ‘Premium’ version. Any android app development India will develop two versions of the same app – Freemium and Premium.
Through freemium, you can provide users with the basic functionalities. When your user wants to unlock the advanced features, you can make him/her pay for the Premium version of your app. It’s the most successful way of monetizing gaming and utility apps.
In-App Purchases: This strategy works well for gaming apps where the users can pay for additional features like rewards, boost, level-ups and much more. This strategy was added by the Google in March 2011 as ‘in-app billing’ for the android users.
Apart from generating revenue, it also increases your user engagement. A user might buy some virtual coins to buy a fertilizer, purchase an extra life to kill the eye-popping zombie, buy a sniper to attack the opposing army and what not. You can get more revenue if you know the little secret behind in-app purchases. Here are some tips & tricks for effective in-app purchases. A few things you can do is to provide ‘SAVE ME’ option, make your users unlock the in-app purchases content or offer gifts.
As you can see, there are various ways to monetize your app. Visit offerdaddy to learn how to earn from your app.