Do you struggle to monetize your app? To understand how you can drive more revenue to your app you should take a closer look at these amazing ways to do it:
1 ) In-app purchases
Your app can become a great sales channel. But, the existence of the purchasing path itself isn’t enough to push customers to buy something. The entire customer experience needs to be more convenient, and more enjoyable than other channels in order to drive sales. In-app purchasing options can range from selling goods and services to installing paywalls that unlock new content or features within the app. The way to figure this out is to experiment with different offerings to see what works best.
2) Subscriptions
Sometimes, subscriptions can be a great way to build up a consistent and reliable revenue stream. The key to succeeding here is to keep content fresh. Customers won’t see the value in paying to subscribe to your app if the content isn’t updated frequently enough. Try to shorten your app’s update cycle to keep your customers interested and encouraged to spend more time in your app.
3) Ads
If in-app purchases and subscriptions don’t work for your type of app there’s a great alternative. The most important thing is to make sure your customers’ experience isn’t disrupted. Ads can be a successful option if you collect data about your customers and show them highly-targeted ads. Stuffing your app with different kinds of ads may turn customers off.
4) Sponsorships
If the methods above don’t work for you consider partnering with advertisers to “sponsor” your app. With this model, advertisers give your customers relevant rewards when they complete designated actions within your app. Revenue then is shared between you and the advertiser.
Every mobile app is different, which means mobile app revenue models cannot fit 100% everybody. To figure out what works best for you, it’s important to consider what is least disruptive to your users’ in-app experience first.
But anyway keep these strategies in mind to help you on your app monetization journey!
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