You have developed a compelling app that engages larger audience. The next step that App Development Company in India must consider is to use different strategies and tactics that can allow your app to provide an ongoing source of income.
App Development Companies make use of Monetization, which is more than just making money with your application. It includes a complex set of opportunities to boost your profits.
Take a look at how mobile application development can transform your app into consistent income with a comprehensive range of monetization tactics.
· In- App Purchases
This model of monetization works for iOS and Android app monetization and transforms your app into the sales channel. You can offer any physical items that are used in this real world or virtual products that can be only used inside the app. This application can help the app sellers to make comfortable profits with minimum amount of risk. Remember, Google play and App store allow storage of only computerized content and generally take around 30% of the income.
· Freemium Models
You can download this app for free, however a few features are gated and the users must pay cash to unlock them. In other words, users can make use of the trial version to get an idea of the functionality of the application. People who ‘try before buy’ will become engaged and loyal users later on. In any case, you must be careful with quantity of features that you provide for free – as the question is ‘how to monetize your free apps.’ If there are many features, users will not get engaged with your app, because if you offer too much, the users won’t be able to pay and you won’t be getting any income. So, ensure that you have a strategy of freemium balance.
· In-App Advertisement
The most common monetization strategies considered by Application Development Companies are in-app ads. It is a smart choice if correctly implemented and will enhance with the passage of time with the best user experience. One has to make it highly personalized for getting more income. This strategy must be handled with proper attention and care to certify user privacy.
· Premium (Subscription)
This one is very much similar to Freemium, but it is centered around the gating content and not on the features. The users are permitted to assess some definite content, as a result of which they are provided with a subscription purchase to get more. One of the benefits of this business model is that the subscriptions can be automatically renewed providing you with the constant weekly/ monthly/ yearly flow of income. Similarly, premium offers ‘without ads’ alternative that the users are in love with.
Sponsorship is the latest models of monetization. It means that the cooperation with the ad partners and sponsors like admob who compensate your users when they finish some particular activities. In such a situation, brands and agencies pay for becoming a part of an incentive system. Get this model if your app makes it simple to compensate in-app activity.
Mobile monetization is an evolving space with lots of evidence and innovation to help you tune your efforts. If you want to know that which application development company can provide you the best ways to monetize your app, get in touch with Seasia. It is a CMMi accredited software development company with vast years of experience. For more details visit the website today!