You’ve developed an amazing app that meets the needs of your audience and is highly engaging. Great, but, what’s next? The next step to take into consideration is making your app a source of income. So, how? Here we tell you 10 top ways to monetize your app!
- Choose the right format.
In the advertising world, there are five main formats. Banner, Interstitial, Video, Native and Rich Media Ads. Each with their own advantages and disadvantages. There’s no perfect choice -the process requires a bit of trial and error but once you find the right format, you’ll see how it will work wonders for monetizing your app. Luckily enough, mobusi offers all these ad formats in their campaigns, and are experts in helping clients monetize their apps.
- Think about your target with formats.
The way in which you present your ads and the type of ads you choose can have a significant impact on user experience. The key is knowing who your users are. It is important to take into consideration their age, gender, location, and so on. Let’s say or example you have an app in which men are more active than women. You may need to be more careful with your use of ads towards women. Showing native ads, which usually provides a better user experience, might be a smarter way to monetize women in this case. Whereas, with your male users, you have more flexibility and can sample a larger variety of ads and formats with more frequency since they are already engaged.
- Use SMS Marketing
By asking for your users’ mobile numbers upon install you can make the customer lifetime cycle longer. Asking for a mobile number is not as intrusive as it once was and gets your message in front of a large number of people possible. SMS marketing is a great way of promoting new products and services that you may have integrated into your app. It could just be the little nudge a dormant user of your app may need to reinstall, or begin using your mobile app again. Our company Instasent specialises in SMS Marketing, being able to impact upon your users instantly.
- Timing is Everything
When a user opens an app, they have a certain goal that they want to accomplish, whether it be reading an article, playing a game, or ordering a taxi. As an app developer, what you need to understand is how to help them achieve their goal while still presenting your ads. Timing is essential. It’s best to show the ad when your users are ready for it, such as when they are switching levels in a game, once they have completed their task, or while they’re browsing the app. The ad will have a higher click through rate since the user’s initial goal has already been accomplished.
- Publishing Partners
Linking with a reputable company who will get your app known or are likely to publish it in a similar environment will help boost your name and be a great source of revenue. Our expertise in the sector not only makes us the perfect partner but so too, does the amazing publishing options we provide. Let’s say you have a mobile game you wish to promote. With our mobile games development company, Lab Cave, your app can be promoted in context and therefore gains credibility for your game.
- User Acquisition Campaigns
While advertising in-app is incredibly useful, so too, is advertising it in other places. CPI (cost per install) advertising, allows you to promote your app in other applications, driving the audience towards it. Since the cost of CPI depends on the number of installations the ad generates, it will be in the ad network’s interest to place your ad where they will be successful—the network only gets paid when someone installs your app.
This term is a combination between free and premium – downloading the app and using the basic features is free but users will have to pay for more options, like new characters or more lives in a game. So, make sure that the free version is rich and engaging too if you want to convince them it’s worth it to pay more.
- Incentivized installs
Sometimes, the popular apps use this method to lure users to try and install other apps and give them certain credits or unlock a feature for them. There are also developers who will unlock more features for referrals and if users share their app through social media channels; cross promotion of apps with other app makers or promoting own apps in one of their popular apps are also means to monetize apps.
- In-App Purchases
When an app developer makes and releases an app on any store, his first priority should be to make sure his app gets visibility. The marketing of an app is essential to get a user base, which in turn can lead to app monetization. Option to remove ads, premium services, donation if the app is not very popular but still has tremendous value etc. are some of the in- app purchase methods.
- Think out a strategy
Without a monetization strategy, success isn’t likely. App development and monetization must be part of the same plan. Think about who your target audience are and what you want to achieve. What are your revenue goals? Who do you want to impact? Do you want to increase your reach within certain demographics?
Simple, right? At Fibonad, we offer all the right services to ensure you get the most out of your products. Whether you want us to take care of the publishing side of things or find ways to monetize your product, we do it all for you. More info? Contact us!