Create Revenue streams Before Build Mobile App Development
This blog demonstrates the list of app monetization models in mobile app development
Choose Your Technologies
App Marketing & Branding
Choose Your Technologies
App Marketing & Branding
An Mobile app can serve a variety of
purposes for your business and bottom line. While income generation directly
via the app is an apparent benefit, others may include serving as a resource
for your audience or indirectly supporting other stages of your sales funnel
and expanding your brand's reach.
What role do you envision your mobile app
playing in your business? If you want to earn money directly from your app, now
is the time to investigate the following mobile app monetization models:
� Freemium
apps : These mobile apps are available for
download for free, but certain features and content are restricted and may only
be accessible through a purchase.
� Paid
(premium) apps : To use the mobile app, the user must purchase it from the app store. Due to the
financial barrier associated with this model, it is necessary to develop a
mobile marketing strategy that demonstrates the unique, greater value in
comparison to free apps.
� In-app
purchases : This
strategy works by using the mobile app as a sales channel for digital or physical
objects.
� Subscriptions : This model is comparable to
freemium apps, but includes the advantage of a recurring revenue stream.
� In-app
advertisements : This is perhaps the simplest model of all, as there is no cost to the user.
As is the case with any advertising area, it is critical to never sacrifice
user experience in order to get additional advertising space.
� Sponsorships : This strategy is typically only
viable once you have developed a sizable user base, as it enables you to
partner with specific companies and advertising. It's a win-win situation
because brands are compensated for user behaviours and your app increases user
engagement.
As is the case with any other
choice, each path contains a number of pros and cons. While you can modify your
mind later, it's critical that you obtain a thorough understanding of all the
models first and then lead your mobile app development toward the model that
best fits your organization.
