Want to make money from your mobile app? No doubt you do. Mobile app revenue isn’t hard to come by if you know what you’re doing and you have the right strategies in place. There’s a reason why not every mobile app developer out there is successful. Without an effective monetization strategy, a business will never get off the ground.
To help you, here are some tips you’ll find handy for selecting a working monetization strategy.
Create a strategy map – It’s important that you define the strategy map of your business. A strategy map is a diagram that documents the main strategic goals being pursued by your business. You need to have an idea of what you want to achieve and how you’ll go about achieving it. The greater the focus you have for your app the greater its chances of finding success. If you want your app to stand out from the multitude of other competitive apps out there, you need to know the users you’re targeting and appeal to them.
Grow your mobile business with ad networks – Don’t overlook ad networks advantages. There are some fantastic mobile advertising networks out there that can have a positive impact on your monetization success. For instance, a premium monetization and app distribution platform like Appnext is dedicated to helping build mobile businesses via app promotion. This network helps you to make the most of your mobile revenue by recommending the apps with the greatest relevance to your users so you can earn more for every app installed. Top app brands will know you and bid directly for your audience.
Know and employ the habits of successful mobile app entrepreneurs – Adopt daily habits for app business success. Study the app store where you publish your application to spot trends. Look at the top charts for the free, paid and grossing apps to see which ones are the most successful. Also study the apps at the bottom of the charts to find out what they’re doing wrong so you can avoid these mistakes. Talk to your customers. Interact with them and find out what they like and don’t like so you can keep them happy and encourage their usage and loyalty.
Discover the different monetization methods for apps – The most basic approach is to have a paid app. However, due to the popularity of freemium apps (apps that offer basic features for free and premium features users have to pay for) paid apps aren’t as popular as they once were. Freemium has quickly become the top choice for app developers, particular those who design games. Other ways to monetize is to partner with a sponsor or implementing in-app ads like video ads, interstitials, notification ads, and so on.