People spend an incredible amount of time on their smartphones in their lifetime. This of course isn’t surprising given that smartphones are practically an extension of our daily lives. Everything worth knowing about us, from our health care information to our financial information down to our work life information has all been neatly wrapped up in that one small device in our hands. On average, monetize your app an individual spends close to four years staring at their smartphone screen
Oh, you don’t have to take my word for it.
According to a recent study, An average individual spends 23 days a year on his phone alone. Do the maths. In 20 years, such individuals have spent over 2 years on the screens of their smartphones.
Now if you are an online android app maker or even a policy manager in an android app development company there is more math you should be doing. Imagine the potential in such an ever-increasing use of smartphones, which of course is made possible with the apps that are being used. Imagine the revenue that is possible with over billions of people all over always on the lookout fit the next best app that would make their life better and easier.
But if you are into Android application development, or part of an Android app development company, or already have an app and thinking about monetizing it ( which you probably should). Then here are some simple guidelines to help you break through the mobile app market.
First, The Basics.
What Is App Monetization?
Simply put, app monetization involves making app users pay some token for full access to the apps functionalities, thereby generating revenue for the app developers efforts.
Why is App Monetization important?
As an online android app maker, you probably are no stranger to the challenging process of app acceptance and staying afloat in the android application development industry. Now unless you have a secured source of funding to fall on, you’ll definitely make your app more productive in revenue generation.
Yes. App monetization can sometimes spoil users’ experience. And yes. Most users would turn back on realizing it is a monetize your app. And that is where the right strategy comes in. An app monetization strategy that ensures two things basically :
- Keeps your app continuously generating revenue.
- Still maximizes users experience and relatively keeping it intact
Hence, shifting your revenue generating model to after the app has been downloaded.
And To Serious Business.
Advertise. It Never Fails:
Advertising would probably always be the leading marketing strategy for android app development company in android software development.
As an online android app maker, the need to include ads in your apps cannot be overemphasized. In fact, leaving it out is like ignoring an exceptional app monetization opportunity. When you think of the amount of time users spend on their phones, digital marketing and its potential begins to take a whole new perspective.
How can an android app development company use ads to monetize your app?
Start by making the app free for download then incorporate in-app ads. But you must understand that more than anything, a user is looking for engagement when they make use of their smartphone phones and can easily get frustrated and annoyed by persistent annoying unsolicited ads. That is why you need to focus the implementation of ads on user engagement. This is one factor that brands and app developers struggle with. Simple put, your ads should seek to engage the user not frustrate them
Free and Premium Versions:
Another equally great way of monetizing an app is to create two versions of it. One the ordinary free version and then a premium version
The free version is like a teaser, giving the user a feel of what the app is capable of and of course that would be the first one majority of users would be going for. Then depending on the kind of engagement and interaction they got from it, if they enjoyed the experience, they would quickly realize that the premium version would serve a greater purpose in their daily lives and would be willing to pay for the premium version.
The premium version is supposed to offer a more advanced functionality and deliver more user engagement so as an app developer, you are responsible for delivering on that promise thereby making the users experience worthwhile. This would equally lead to more revenue as users would tell more of their friends about it.
Recurring subscriptions are one of the surefire methods of generating steady revenue streams as an online android app maker. But it comes with a little hitch.
Users engagement and retention.
Recurring subscription is an app monetization strategy that requires users to pay a fixed fee on recurring basis (either monthly or annually) instead of a one-time payment as is the case of premium app versions. Apps that can easily offer such services that require subscribing are apps that continuously offer services which the user needs on a daily basis such as multimedia services. Examples include Netflix and Apple Music.
In smartphone technologies such as android software development, you must understand the simple principle of “the customer is king”. Keeping your users happy through meaningful engagement is probably the first step in generating revenue for monetize your app.
People are becoming more aware of ways online android app maker are monetizing apps, creating a balance then between monetization and user experience is key.People are becoming more aware of ways online android app maker are monetizing apps, creating a balance then between monetization and user experience is key.