It doesn’t take a genius to see that lots of companies and developers are profiting from their mobile apps, and yet there are also those who can’t seem to make a buck with their products. The truth is that too many developers are rushing to cash in and thus produce poorly made haphazard apps that no one wants to download. The fact of the matter is that a lot of factors will come into play when it comes to app monetization.
Ask the Right Questions
First of all you have to ask yourself what kind of app you are making and what it is supposed to do. As the developer you also have to determine what its major features are and what it can do for consumers. In addition you also have to ask what kind of benefits users can get from it.
These questions have to be answered otherwise your project will never get off the ground. Aside from those already mentioned, you will also have to consider the ways the app can entertain or help people increase their productivity. After you have answered those questions you can start checking out the competition and see if you can pick up any pointers there.
Paid Downloads Work
Studies show that paid downloads are very effective as a user just has to pay once to get your app, and this is particularly effective for news apps, games and productivity apps. If you do that though, you have to dispense with any in-app purchases that are present in the program. Another method you can use is to offer a free version of your app and another one for pay. The paid app should have more features or will remove the ads on the free app.
IAPs are Very Popular for a Reason
If you will notice, IAPs or in app purchases are widely used in games, and the reason is it has proven itself. With IAPs, you can place ads in your application, and whenever a user clicks those ads, you get paid. This method really works well particularly for news, chat and gaming apps.
The most common complaint here is that it takes work to ensure customers and users come back, but if your app is well designed this will not be a problem at all. Another way you can take advantage of IAPs is to create apps that people will want to keep using.
Take Advantage of Sponsorships
With sponsorships they work by underwriting your app in return for certain types of benefits like recognition. For instance, in exchange for underwriting an ad or logo may be put in your app. This type of approach can be used in different programs but is most effective with local + event apps.
This method, when applied correctly, can make a huge difference when it comes to profit, but it must be done right. The problem with this approach is that you cannot scale it and it is not ongoing. Even so it is a good choice if you want to get started.
Use Different Kinds of Ads
There are many kinds of ads that you can use to monetize your app such as push ads, icon ads, dialog ads, smartwall ads, offerwall ads, video ads, full page banners, app walls and many more. You don’t want to stuff your app with ads since that is a surefire way to lose a customer. Instead you need to make sure that you get value out of any ad you put there. It is also vital that the ads are displayed as soon as possible so that you can obtain results fast.
Implement Ads Wisely
This is related to the last one. You need to make certain that the ad in your app forms an integral part of the user experience. Meaning, it should not get in the way and annoy users. If that happens, you not only risk not making money but also turning off users. If the ads are implemented properly then users will not hesitate to click the ad.
This means the ad has to be placed in such a way that it becomes apparent to the user that there is a benefit for them. With mobile advertising, it is all about ensuring ads are relevant and targets the right users. To know more visit mobimanage.com
Make Your App a Good One
This might seem like a no-brainer and too obvious, but some developers are focused on making money they forget about the app. Before you can think about any kind of monetization you need to be certain that the app is actually a good one.
Unless you take care and ensure this is the case, you won’t get anywhere no matter how hard you try to push the product. The reason for the success of certain apps over others is the app is just plain good. If you have a good product, users will be willing to pay for it and click the ads. It is that simple.
Think of the Customer
This is related to the series of questions that you need to ask yourself during its development. If you are entertaining any thoughts about monetizing you need to think like a user. What are they looking for? Can this app actually provide it? And is there any reason for a user to want to keep using the app? This is very important since that is the only way for you to monetize because if a user doesn’t intend to keep the app, no amount of ads will be enough.
Is Your App Unique?
There are literally thousands of apps on mobile, so how can you make yours stand out? If you want to make an impact, your app has to be different from others out there, and it must fulfill a need that other apps so far have failed to provide for. This will take a lot of research, but if you look closely at the mobile industry, you will see possibilities and options there you can take advantage of.
On the other hand if you want to enter into a crowded market, your app must have features that other apps do not yet have. So if it is photo editor, then it has to be different so that even if there are ads users will patronize it. If you do that monetizing won’t be a problem anymore. The bottom line is that it is all about the implementation of your app and how well you can integrate ads into it.
For more details about monetizing your apps you can go to http://www.mobimanage.com/ and when you visit website you will find additional information.
About the Author:
Douglas Ralston is an entrepreneur who specializes in web and mobile applications. He is also an expert when it comes to different mobile technologies and in developing strategies so businesses can profit from them.