Latest Article- 03 /02/2017
The number of app downloads in 2017 are expected to reach 268.69 million. By 2020, consumers are projected to spend over 101 billion U.S. dollars on mobile apps via app stores.
In order to make your app stand out amongst the hoard of apps available on the play store & app store, you need to strike gold. The newest trend in this industry is not just reliant on the app’s concept and UI but also on how can the app be monetized to yield greater returns and increased reach.
Have you developed an app but do not know what to do next? Are you unable to generate any revenue from your app? Do you feel your app is not getting enough downloads? You have a great idea of an app but still no revenue?
All the above nuances form the basis of this purportedly billion dollar question – How to make money from your app?
Interestingly, the first step in the direction of making money from your app, is “Freemium” i.e. to keep the app free yet offer some premium paid features. If you’ve played Candy Crush Saga, listened to music on Spotify, shared files through Dropbox or networked on LinkedIn, you are already a part of the millions of Freemium user community. Here’s what you can do for your freemium app:
1. Advertisements: Even if your app downloads are not significant, the easiest way is to spike up your revenue by increasing your number of ad-impressions. You can strike a balance between showing banner ads and interstitial ads. While the amounts of earnings vary depending upon the type of ad (CPC, CPM, CPI etc), it is generally seen that interstitial ads result in greater earnings. Your ad-free version can be a paid version of the same app with some extra features, so your loyal users can be tempted to make the purchase if they are annoyed by ads but hooked on to the app. It is important to not overdo the number of advertisements as the result will be increased number of uninstalls and negative ratings by users. These days users have an access to variety of apps for a single thing, so when embedding ads into your app make an effort to streamline ads within the apps UI so that it feels like a part of the app and does not hinder with the usual functioning of the app.
2. In-App Purchases: When offering a freemium app, it is essential to have some locked features which can be purchased for an enhanced user experience. For instance, in games users can be asked to purchase virtual money, extended time etc. While building the app, you can decide whether you want to offer one-time events during festivals like New Year Offers or an ongoing process where users can purchase virtual money for powerups or levelup. You can create a stable revenue stream through in-app purchases based on your app provided it is user-friendly and popular. AppDrive offers an innovative feature called : Offerwall which can be easily integrated with your app to engage your inactive non-paying users.
3. Balance & Innovate: Your freemium app may be attracting many users but if your user retention rate is low, or there is little growth in the number of new users then it probably means that your offerings are not enough. You can choose to offer more free features or a new experience. On the contrary, if you are generating traffic, yet users are not paying for the in-app purchases or upgrading to the paid version of the app then it signifies that you are offering too much and it’s time to restrict some features. Innovation is the key here, to strike a perfect balance between steadily increasing user base, paid users and upgrading user accounts you need to continue to offer new features in your app. Stay ahead of the competition by innovating consistently.
4. Referrals: An increasing number of ecommerce transaction based apps are offering referral based incentives to its users. The difference between seeing your app go viral or your competitors app go viral, is solely reliant on the value of premium offering in the freemium app. These days apps offer referral incentives to both the users the one inviting and the one newly joined. You need to choose your referral system wisely. For instance, Uber offers a very engaging referral system where both the end users benefit with some discounts or free ride.
5. Affiliate Marketing: In the recent times, the most lucrative revenue generation opportunity for mobile app developers has turned out to be affiliate marketing. Unlike the age-old advertising structure of CPC or CPM, affiliate marketing offers payout on the basis of cost per action (CPA). An affiliate can be either an entity or an individual but with access to substantial digital space through various publishers or an ad network. So, without investing a fortune into advertising your app, you can market across a range of platforms to boost your user base. Start-ups are redefining affiliate networking with their effortless onboarding, high paying direct offers, multiple ad formats, timely payments and global campaigns.
6. Automated App Marketing: Drive app users to your app using highly automated machine learning advertising platforms available online such as - AppDrive, operating on a CPI bidding basis. We have partnership with several leading games, apps and other media properties enabling us to instantly drive tens of thousands of genuine users to try out your app.
What more? This sudden push may drive up your app store rankings and you may end up with some kickass reviews too, improving your credibility index manifold. With our simple on-boarding process, you can go live with your first rewarded app install campaign in just a few minutes.
Don’t have an attribution system? Don’t worry! Our Server-2-Server tracking will take care of your campaign.
7. Sponsorship: An ideal way to add some brand value to your app is by getting sponsors. If you are offering something innovative, it can be easier to pitch to a sponsor and they might help you achieve the much needed visibility and traffic through their existing brand value.
entially to make money from your app, you need the perfect user interface which engages the users. Any app developer cannot monetize their apps if they offer sloppy products to their audience. There are many ways to generate revenue through apps, you need to choose the one which suits your business goals, target market and obviously your app. If you think you have the right combination ready, take charge and make your own luck!