How to Monetize Your Mobile App

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How to Monetize Your Mobile App

It is very important that you have clear whether or not you want to earn money with an app. Preferably from the moment you decide to create one. Many people make the mistake of creating a totally free app and want to monetize later when they see that it has enough downloads. Although it is true that it can go well, other times it can cause some confusion and discomfort in users who regularly use the application. If the user finds the new function that you have implemented uncomfortable, they can get upset and delete the app from their device. You must find and know what are the best options that exist to monetize apps.

WHAT OPTIONS ARE THERE TO MONETIZE APPS?

There is no single option to monetize apps, so these are some of the options you have to earn money with a mobile application:

1. PUT A PAYMENT APP

Monetizing an app is easier if you make it paid. All you have to do is offer your app to users for a certain amount . This option is as valid as all the options that we will continue to teach you throughout the publication. But perhaps it is the least recommended to launch an app to the market. Who knows the app? No one. And it is possible that, if it is a new business, neither its developer, nor the company, nor who has carried out the entire creation process.

Do you think you are offering something new and innovative that no other app offers? Do you think that the user will want to pay for something that has not yet been tried? The user can doubt the veracity of the functions of the mobile application simply because it is paid.

But there will also be other types of users who will pay to try it. Here other factors influence such as an application promotion so that it is known and they are encouraged to want to buy it. This option is undoubtedly the easiest option to start monetizing apps . It is not the option that we recommend the most if the mobile application is not innovative and really gives great utility to the target user. Best of all, when a user buys it you will receive the money and you will not have to implement advertising.

2. HOW TO MONETIZE A FREE APP

Free apps are the most common and naturally the most downloaded. If you don’t like what it offers, it is uninstalled and that’s it.

When you pay for an app you try to know by all means if it offers what you are looking for. It is difficult to pay for something that will not serve you at all. With free apps many times this does not happen and you decide to try the app to “see how it is”.

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As we mentioned before, you must be sure and convinced that to have a paid app, what you offer must be good or bad reviews will give you away. With free apps it does not usually happen, although it is possible to receive bad reviews.

There are so many apps on the market that there are many that are useless and still have many downloads. If you search Google Play or the App Store “Drink beer” you will find a few apps that simulate how to drink a beer just by moving the phone. The incredible thing is the volume of comments and downloads that these apps get. Generally, these types of mobile applications are of punctual use and will be in the users’ applications menu for a short time.

This is what you should avoid, create an app for occasional use. If your application is good, it will continue on the phone of your users and will be used constantly. But the question is how to monetize an app that is free?

MONETIZE APPS WITH IN-APP PURCHASES

Yes, your app is free but you can implement payment for purchases within the app. This option is widely used in games. Let’s give an example of how to monetize an app with purchases within it assuming a game with limited lives.

In the aforementioned game you can offer a certain number of lives that when they end the user will be able to recover if they wait a few specific hours. The user of the game is offered various alternatives to quickly recover these lives in case they do not want to wait. There are many ways to offer it, but we give you these options:

The first can be based on paying an amount of money for a specific number of lives.
The second can be the purchase of a pack of infinite lives for a certain time.
The third could be to see an advertisement to get a new life. If the user does not want to pay, they will have to wait a reasonable time to get those new lives and it will be the advertiser who pays for the viewing of each ad.
Other options within the mobile applications are to make purchases to improve the specific characteristics of the app. This can be offered as customizations, extra specific tools, temporary improvements or interesting actions. As we have previously mentioned, the user is used to this type of monetization , as long as it is not saturated with much advertising or has to pay for many of the options offered. The extremes are never good and the mobile application itself must be useful as a base, allowing its general use and inviting you to use the improvements to speed up processes or to obtain interesting specific options.

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MONETIZE APPS WITH IN-APP ADVERTISING

It is perhaps the option of how to monetize an app most used by developers of mobile applications.

For the user it is an advantage because it allows users to download it for free. And for advertisers it is a good channel to find new customers due to its ability to target its ads to people with certain interests or common characteristics.

But this option is not always successful. Previously, many banners were used, some still use this option, which are usually very annoying to be able to enjoy the app quietly. That is why it is not advisable to go over with advertising within the application itself. Evaluate what your development offers and check that the ads are not going to bother the users who are going to use it.

Tip: You must take into account how your app is going to be used, whether horizontally or vertically, to implement ads with a suitable format and location.

MONETIZE APPS PREMIUM VERSION

It is likely that the image you have of your app is interesting. But we want to give you more ideas. An option that is also used is to have a premium version. This consists of launching the free app and having to pay for the use of more modules in the app or removing advertising. It is a good alternative if you want to earn money exclusively with your mobile application. On the other hand, you will continue to earn money as long as the advertising skips.

Your application must be good and that the user needs and wants to use those functions more than you offer.

Clear examples are Spotify that removes ads while listening to music if you make a monthly / yearly payment. Or Tinder, the application to find a partner, which allows you, by means of payment, to know who has liked your profile. With this they intend to save time when looking for a partner, among other functions.

We recommend this option if you consider that your app really has the functions that the user will be willing to pay to improve their experience with the application or if you think that removing ads will really improve their user experience.

MONETIZE APPS TRIAL VERSION

The trial version consists of offering the application download for free but with a limit of use. This allows that if they have really enjoyed and liked what the app offers, they want to pay for the service. Clear examples are applications like Netflix or HBO, channels where series and movies are consumed in streaming. Both apps offer a free month to see what they offer. After that month you will have to pay to use their services.

It is true that a user can create accounts infinitely to skip this payment but it is not usually common and they do not make it easy to create accounts. If the user likes what you offer, they will pay for the service once they have tried it.

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3. WHEN NOT TO MONETIZE APPS

As you know, there are several apps that do not use any type of monetization since they are making money with the options they offer within their own platform.

Let’s put some examples to understand it better:

A widely used example is that your business acts as a mediator between companies and you get a small commission every time someone makes a purchase through your app. There are success cases such as Booking, Just Eat or Blablacar. This type of applications collect information from companies or people who are dedicated or offer the same, the application is responsible for collecting all the information and offering it to you in the same space. The search time that the user spends to find what they want is much less, and therefore, something that they value a lot.
The applications of online stores or sales of services within the application.
Only you know your app and what you are going to offer with it. If your case is to sell a product within the mobile application, we do not recommend including advertising or having to pay to use it. Surely in these cases you will have a website that can be freely accessed to buy the product. The app is used to streamline a purchase process for users. Don’t make it difficult.

FIND A GOOD DEVELOPER FOR YOUR APP

Now that you are clear how to monetize an app if you do not have a developer to implement the idea, the next thing is to find a team capable of perfectly capturing the entire project. If you are a beginner or do not know anything about the topic, delegate this task to experts in mobile application development. It is likely that you get lost in certain steps and do not know how to fix some errors. Leave the complete development of the project in good hands. The mobile application developer will make your idea come true .

At Zitelia we have a specific department for the development of mobile applications. Our developers will help you perfectly capture the idea you have and want to offer in the app market. In addition, they will help and advise you throughout the project process. At Zitelia we indicate at all times what is best for your business and the advantages and benefits that you will get with your accomplished project. Meet our mobile application development service and contact us without obligation.

MOBILE APPLICATION DEVELOPMENT

CONCLUSIONS

Making a mobile app is a long and expensive job. And finding a way to make a financial profit from it is also a difficult task. You must analyze all the pros and cons that an app can monetize.

 

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