How to Monetise Your App? 6 Time Tested Monetization Methods to Consider

How to Monetise Your App? 6 Time Tested Monetization Methods to Consider

 Now that you have built a mobile app and endured perfection in features, functions and performance, it is time to have a clear monetisation strategy in place.  To the surprise of many of us almost 9 out of every 10 minutes spent on mobile basically belongs to the app use.  The latest statistics by Flurry Analytics also reveals that an average user spends 87 hours on mobile.  How to make users spend time in your app is the primary challenge to ensure earning from your app. As most marketers agree, only 10% of installs generate 90 percent of profits for an app.  Here we are going to explain a mobile app can be monetised in a step by step manner.

In-app advertising  Publishing advertisements within your app is the most common and effective way to monetise your app.  The smartphones for most people have become a constant company. With so much engagement already in place  But before engaging your audience you need to make them download the app, right? Well, it is now an established fact that people always prefer free or unpaid apps.  in-app advertisements tops the list of easy monetisation methods.

 Here are some of the common types of ads that are used for monetising apps.  Full screen ads: Full-screen ads are generally played after a certain level of use and at favourable pause points. When you use them at a natural pause, they do not interrupt and undermine the user experience of the app.  Notification pop-up ads: These ads appearing on the notification status make users aware of an advertisement or commercial content. These ads are detested by many users and can trigger a negative repercussion.  Opt-in form: These ads are basically optional forms asking users to opt in and fill the small form with email address. Used in many mobile games these ads are popular and effective.  Overlay ads: Taking over the screen these ads allow interaction from the users and make a compelling presence.  Banner ads: These are the most common type of ads widely found on top or bottom of the screen.

Banner ads common in websites and apps take up the precious screen space and create distractions as well.

Sponsorship and partnerships

Sponsorship and partnerships

 Some partnership besides benefiting each other for monetisation also can add immense value to the user experience and overall app offerings.  Just consider the partnership of Localytics with Optimizely and how together they offered a better mobile analytics with combined service.  Such partnerships can help you get traffic straight from your audience when your ad is run in the partner app or vice versa.

 Licensing app code  Strong coding pays in the long run.  If you can build an app from the ground up with strong code base, in future other businesses can take interest in your app and you can sell the code license to allow re-skinning the app.  When app gets quite popular and its user experience draws attention of other developers.  As the last resort, strong coding will always help your app to remain saleable when you have taken the full monetising potential of the app.  If its built well, after few years you can have quality offers from buyers as well.

 In-App purchase  In-app purchases are the most popular app monetisation methods till date. As most apps remain unpaid for downloads.  you need to push users to spend money while using the app. It is the most creative and versatile way to make consistent revenue through an app.  In-app purchases help your app maintain the free status while keeping some features and functions in reserve to monetise.  In this way an app can engage users and earn from them progressively as they continue to use the app.

 Email marketing  It may sound a little out of place and old fashioned but email marketing is still effective for most digital marketing endeavours including obviously app monetisation.  Through an email you can easily make them see your contents and make them engaged.  Moreover, emails sent at regular intervals also helps keeping your app always at the forefront of their mind.  In stark contrast to this, an Email has a bigger lifespan of more than 10 days.  So, if you want to draw attention and engage audience steadily, there is no better way to do than than email marketing.  Try to explain them in an attractive and engaging way just the way effective landing pages interact with users.

 Fremium versions  Freemium refers to an amalgamation of “Free” and “Premium”, two models for app downloads.  While vast majority of users prefer free apps, unrolling a premium app version with advanced features can help those apps earn revenue.  This monetisation model segregated into two stages is effective for engaging users with “Free” app and later on luring him to download the “Premium” one.  To apply this model successfully for monetising your app you need to offer a really engaging user experience with the “Free” one.

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