Apart from branding, the majority of companies who jump into mobile
app development want to know how much money they can make? As a
professional and experienced mobile app development company, we
ensure to share profit aspects with your clients while discussing
current app monetization models with them.
Knowing app monetization options is vital and selecting the right one
can help you make more out of your app by the end of the year. At
present, there are top 5 models which are utilized to earn more
income from a mobile app. Each of them comes with their own pros and
cons. Let's check them out one by one.
App
monetization models
In-app
purchase
This model is considered mainly for developing mobile apps such as
game apps, eCommerce apps, and social apps. It provides great
flexibility, thus you can use it in different ways like boosting
game, buying more widgets using in-app purchase, making a purchase
for paying transaction fees etc.
Freemium
You might infer what exactly this model is from its name. Here, users
get non-paid, free versions of the app to utilize. As there is no
initial cost involve in this model, it becomes easy to introduce your
app to your target users. Usually, this app monetization model
involves subscription options or certain premium features which are
unlocked once you establish value proposition with users. This model
focuses primarily on download count rather than conversion. You may
find many successful freemium apps in game and eCommerce genre.
Subscription
This model asks users to pay for accessing advanced premium features.
Mobile app developers or owners can leverage this model to create a
steady revenue stream, however, you need to keep updating the app
with the new features or versions to ensure users will not stop
utilizing it. With this model, users can experience less pressure
while making a decision as the app is available for free at the
initial stage.
Crowdfunding
It is one of the popular concepts to raise money or fund to realize
your business idea. Using crowdfunding platform such as Kickstarter,
you can take your mobile app development idea to many investors or
money donors. If they find your idea feasible, they become ready to
pay for the development of your mobile app which lessens your worry
about generating instant revenue.
Direct
Sales
This app monetization model can be sometimes frustrating for the app
developers, as you need to interact with your audience directly and
convince them to purchase your app. It is not guaranteed that your
efforts always pay you off.
Conclusion
Every business or individual develops a mobile app for some sort of
profit or making money. App monetization models can provide you with
different options for developing an app that ensures to meet your
goals. Including the idea of app monetization from the initial phase
of your app development is the key to ensuring the success of your
app. Thus, select the method which is a better fit for you and
realize your app monetization dream.
If you have any query or need help regarding mobile app development,
free to get in touch with our experts for free consultation.
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