It’s one thing to have a fantastic mobile app idea you’re sure will sell. It’s another to understand how best to monetize it. Many developers struggle with this area of app development, so rather than getting frustrated, check out five ways to monetize your mobile app:
Paid Downloads
One way to monetize your app is to charge for it. Many argue going the “freemium” app route and making money other ways is ideal, however charging users to download your app is still a viable option.
Mobile Display Ads
Mobile display ads come in several forms, with the most popular arguably CPC, or cost-per-click. This means payment once an ad on your app is clicked. CPA or cost-per-action is another option where you receive payment when a user performs a certain action, such as making a purchase or filling out a form.
In-App Purchases and Subscriptions
In-app purchases provide users with the chance to purchase various privileges, subscription upgrades, and badges within the app. Perfect for lifestyle, gaming, and news apps, this option does require a dedicated following, but works well once said following is established. It’s also ideal if offering your app for free. Industry experts frequently tout the benefits of providing an app for free, at least initially, and generating revenue from in-app purchases and assorted ads.
Selling an app for a very low price, such as .99 cents, is also an option if looking to make money from features and privileges. If the app is successful, in-app purchases are one of the best ways to ensure income.
Sponsorships
Sponsorships work by businesses or individuals underwriting your mobile app in exchange for “recognition” benefits, such as an ad or logo within the app.
Free Vs. Paid
Another freemium app option is to offer your app featuring various ads for free, and to sell the non-ad version. Users often pay to enjoy ad-free apps!
To learn more about app design and development, please contact Zapporoo today.