How to Monetize Your App
With so many free apps available at the App Store, you are going to run into resistance right out of the gate if you are trying to charge a premium for your app.
This is why coming up with clever ways to monetize your app is so important.
If you give the user what they want, then they will be more likely to open their wallet at a later time. The key is disguising those efforts at the beginning, allowing the users to fall in love with your app first and not be worried about having to pay for anything.
Consider these 8 clever ways to monetize your app and enjoy a steady stream of income for the foreseeable future.
1. Free App Advertising
Make no mistake about it, the majority of the apps that you find in the App Store are free for the end-user.
The only way that you are going to break into this space is starting with a free app at first. Also known as a light version, the free app has all the features to give the user a decent experience.
Using a number of programs, you have ads pop up that make you money. Whether the user clicks the app to close the window or wants to see more information, you make some money. The ads will appear at certain intervals, and if you have decent traffic, this could be a real money-maker.
2. Premium Apps
Keeping with the theme of the free app you designed, what you need to make is another version that has a few more bells and whistles that you can pass off as a premium version.
For example, maybe you made the best gaming app in the App Store, and with the free version, users have to deal with ads and can only play until lever 7. With a premium version, the user pays a small price to be able to open the game to all the levels.
The other way to create a premium app is to simply offer the users the ability to enjoy the app without ads for a small price. Some users want to get more from the app without distractions and will gladly fork over a few dollars for that ability.
3. Emails and Sign-ups
During the development of your app, drop a kink to your website where users can get more information and learn about you or your company.
Be sure to place a prominent sign-up box on the website that will capture leads easily.
The goal here is to get people to sign-up so that you can promote your products to them down the road. It is much easier to send out emails to a target group then try to catch them in the App Store.
With your email marketing, you are in complete control of what and how often you mail your group of followers. There is no need to worry about breaking the rules of the App Store when you are simply mailing your customers with new products, apps, and offers.
4. Compatible Versions
Perhaps you developed a gaming app that is very popular, capitalize on that success by creating a new version at a premium.
Maybe the free version was about a puppy and its journey through the woods to find his way home, if it was popular, create Puppy 2, like the Mario Bros. series, and offer an early release at a low price before you are going to raise to the full price. Create that buzz on the free app too.
5. Offering Various Payment Options
Not every person has access to a credit card, so you might be limiting your monetization efforts by only offering one payment method.
Subscribe to as many payment processes as possible and give your users the chance to pay with any method they prefer.
6. Selling Out
Perhaps you hit the jackpot with one of your mobile apps, and you think you have hit the ceiling as far as your earning potential.
Simply certificate the code and then offer it to other developers at a price, this way you make money off the customers of your competition.
7. Trial Offers
An ingenious way to monetize an app is to simply offer a free trial offer.
So for example, you have an app that has 1,000 of the most popular fonts ever created. Users can freely use the app for a predetermined amount of time.
Once they fall in love with the app, the trial expires and all those fonts are locked out, unless they want to pay a small premium.
8. Hints and Cheats
Maybe you created a gaming app that is so engaging that players can not get enough. If the game is like Mario Bros. for example, eventually they are going to hit a wall and be trapped at a level for too long.
For a small fee, offer them an opportunity to see some cheats, access special features, or get the tools needed to advance without having to struggle to find the results on their own.
These 8 clever ways to monetize your app just scratch the surface, but should have you at the least headed in the right direction to making money with your apps.
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- A Beginners Guide To Mobile App Marketing
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