App Monetization Strategies
There are few who only build apps as a hobby. Most developers want to make money, so it’s important to define your money-making app monetization strategy before publishing the app. The most common money-making opportunities, their advantages and disadvantages are mentioned below.
This is the most common way to make money, but improper use can reduce profits or worsen the popularity of the app. Most negative ratings are usually due to the amount of ads or their inappropriate placement. You should not display too many ads in the app or place them in a location that distracts the user from using the app. If the app is a game, you should not interrupt the game with ads or cover important parts with banner ads. Ads displayed in fewer and more appropriate places are more profitable than apps flooded with ads. This is because if the user has a good experience with the app, they will use the app more often. This method allows you to show more ads over time.
In-app purchases can be:
• turn off ads
• unlock new functions
• purchase of virtual items (coins, lives, gems)
Just like ads, in-app purchases need to be placed appropriately. You should not reduce the usability of the application too much or hinder the progress of the user, otherwise the user will delete the application. You may also want to offer an option for under $1, as this is the amount most users are willing to pay. For example, this amount is ideal for disabling ads.
Since most users don’t spend money on in-app purchases, it’s a good idea to also display ads in the app.
Not all application types are suitable for making money by subscribing because users subscribe to a feature or service for a certain period of time. For example, Spotify also uses this option to provide ad-free, better sound quality, and usability without the Internet.
However, when applying for subscription revenue, care must be taken to ensure that users always receive a quality service, otherwise they will not renew their subscription. Therefore, with this option, developers have to reckon with continuous work and application updating.
Although the above options work well individually, it is worth considering that up to all 3 features are included in the application for the highest possible profit. Each type of application has its advantages and disadvantages, so you should carefully consider what revenue opportunities will be included in the application.
Every single user is valuable, so try to do your best to turn visitors into loyal users.
The usual advertising strategies are followed by many, so the cost per conversion can be very high.
How can I profit from applications? A great strategy to achieve your goal.
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