How to make money from your app?
The amount of companies using mobile commerce apps to raise revenue is phenomenal. There are several approaches you can take if you have decided to develop such an app. You could choose to make the full version of your app available for free for a limited time, or could save certain features for paying customers. You may wish to support a free version of your app with ads. Whatever the case, it’s wise to make a decision on this quickly and work out how to make money from your app!
You could raise revenue by offering sponsorship packs to clients. In return, you could offer push notifications and banner ads for their business. The more relevant your app is to a client, the more likely it is that they will want to do business with you. Sponsors are generally more likely to expect heightened brand awareness rather than direct sales through being associated with your app.
Using ads efficiently
Placing ads into your app doesn’t need to be a huge turn-off for downloaders. If the products and services advertised in your app are appealing to downloaders, they are less likely to become irritated by them. You need to find a balance between giving the ads sufficient exposure and them becoming obtrusive.
Keep visibility high
Charging for downloading apps may seem an obvious way to make money. However, very few people are interested in paying for apps and many only search for free downloads, which makes ads and sponsorship more preferable for many. If you do wish to charge for a download, it’s a good idea to opt for a one-time fee rather than asking for regular payments. Don’t forget that the app store will request a cut. Not being in the free category can reduce visibility massively. A good compromise is to offer the app for free and charge to unlock various features within it. This is the freemium model and has proved to be highly-beneficial for companies across the world.
Get the balance right
If downloaders enjoy your app and find it useful, they become incredibly likely to pay to access paid-for features. Remember not to offer too much or too little to those accessing the basic version of your app. Striking the right balance is essential. Apps are now deemed so important in terms of revenue raising and brand engagement that 90% of small businesses were expected to increase their investment in app development in 2016.
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