Top 7 Ways to Monetize Your Apps Successfully

Different mobile apps have created a great impression in our lives. Smart mobile apps are quite useful in our day-to-day works. Thus, mobile apps have turned as an essential marketing element, and almost every brand has realized the need of hosting business mobile app targeting different mobile platforms.

Mobile apps have successfully dominated the tech-driven market. With advanced tech facilities and powerful frameworks, the mobile app developers easily develop mobile apps for different devices and mobile platforms. As the latest Smartphones integrate powerful features, the developed apps are focused to make use of those features with a target to satisfy the users.

Reaching The Targeted Market And User Base Is Not Enough!

Apart from reaching the targeted market and the end-users, the other aim of the app owners is to earn the revenue from the app. An app is considered to be successful when it becomes a source of earning. Effective monetization strategy has become an integral part of the app owners and the app developers while creating an app.

On different mobile platforms, more than millions of apps can be found in different app stores. The app market is quite competitive and it is tough to monetize any app and earn revenue from it. As monetizing the app is a winning strategy, the app owners can’t avoid it. The app owners need to explore the best ways to monetize the apps and turn it successful.

7 Best Ways to Generate Revenue from Apps

1. Advertising

The app owner will lose the opportunity of monetization if ads are not included in the app. Digital advertising via apps effectively improves communication between the advertisers and the consumers in a dramatic way. The most effective way to drag attention of app-users is to make the app freely available, and for generating revenue, they need to utilize advertising strategy.

2. Freemium Apps

Try Before you buy! This is one of the excellent strategies that the app makers should adopt for promoting the app! Offering the apps for free to attract the attention of the app users is a proven way to success. The users can download the apps without any payment but would be able to use only a few selective functions for free.

To enjoy fully featured apps with great functionality, the users need to purchase the fully functional app. The ultimate goal of the app makers with this approach is to allow the users to taste the app and raise an urge to enjoy the other premium features that are locked. To unlock such features, app maker can charge a certain amount to the users.

3. Referral Installs

Almost every popular app adopt referral install strategy that amazingly tempts the users to try and install the app. Along with this, the users who refer to other users get certain credits to unlock several features. The users get the advantage of referral when they share the app through their social media accounts.

4. Subscription

The subscription model is almost similar to the freemium model! Instead of features that are restricted to the freemium model, the contents or services are brought to limitations in the subscription model. With this model, the users can access as well as consume limited services or else all the features but for a limited period of time. After using the services with limitations, the users are prompted to subscribe for weekly or monthly or annually by paying some fees.

5. Partnership

Securing a partnership with any other brand can be helpful in achieving the target of monetizing the application. Finding a partner with same customer base can significantly help to generate more revenue from the app. The partner can turn beneficial for the customers as well as for the business. When a popular brand logo of the app maker is displayed on other app or website, it could be convincing for the users to download the app.

6. Newsletter Through App

Pushing newsletter through the apps can be helpful in driving consumers to the business website. Following this strategy may not be easy, but it works. Using the email strategy and tying it up with the app ensures customer engagement in an effective way that ultimately helps in earning money. People rarely change their email addresses. Thus, the probabilities of email marketing campaign success increase.

7. Apps with Simple but Functional Designs

The apps that are complex to navigate are underscored by the users. With an approach to develop apps with simple but functional features, the app makers can enhance access rates and keep the app users engaged. Fixing the bugs and keeping the apps updated is the ultimate mantra to grab the attention of the users. The apps with highly functional features and easy-to-navigate designs can be a great element for monetization.