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How To Effectively Monetize Your Mobile App

The mobile app economy is booming. All the Top Mobile App Development Companies are devising methods to come up with the best strategy to monetize a mobile app.<br>

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How To Effectively Monetize Your Mobile App

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  1. mobile app development companies How To Effectively Monetize Your Mobile App? The mobile app economy is booming. All the Top Mobile App Development Companies are devising methods to come up with the best strategy to monetize a mobile app. According to a report by App Annie, the revenue generation from worldwide in-app advertising and net-to-publisher store revenue is forecast to grow to $189 billion in 2020. Monetizing your app is not as challenging as it seems to be. The key to mobile app monetization is to generate a decent stream of revenue by maintaining a fine balance between the overall quality of the app and the user experience of the app. App Development Company

  2. mobile app development companies While going ahead with a monetization model for your mobile app, if you choose the wrong strategy, it has the power to impact everything right from the number of downloads to revenue generation to UX. If a user is dissatisfied with the mobile app, no matter what you offer he is not going to come back.This, in turn, will affect the whole mobile app monetization process. Let’s have a look at some mobile app monetization strategies and why they prove to be successful: 1. Email Lists Email marketing for mobile apps is as lucrative as it is for websites.Why? It’s because people don’t change their email addresses frequently. So, by email marketing, you can be sure of the fact that users actually go through your content and engage with it. The best way to gather email addresses is to embed an ‘Email subscription form’ in your app. Once you have a compiled list of user emails try to send regular newsletters. Also, send them exclusive offers, information about the new updates and sneak peeks for upcoming launches. Sending regular emails will ensure that your brand remains at the forefront of the customer's mind. Another way is to promote exclusive offers in your newsletters, which will regulate more in-app purchases. App Development Company

  3. mobile app development companies Let’s say you have a deal or promotion coming up on your app. So, you can send an access code via email. They can, in turn, enter the access code in the app and get the aforementioned deal or promotion. 2. Advertising When it comes to advertising, ads in mobile apps hold more value than the ads embedded in the browser or ads sent via messages. Advertising is more often used in a mixed monetization model. By eliminating the pay per download you can get more people to download your app. The most common ad formats when it comes to mobile app advertising are-Banner Ads, Interstitial Ads, Rewards ads, Notification Ads, Capture form, Native advertising and Advanced overlay. Mobile app advertising is an effective way, but it can lose its significance if the ads are irrelevant to the user or if it has an adverse impact on the user experience. The key lies in building a strong user base which will then engage the user with the ads which will be displayed when they are using the app. If the user base is strong enough, you can segment your ads and gain more advantage. 3. Freemium So you have decided to make your mobile app a free one. Now, how do you earn out of it? By adding some form of “Pay to access” feature in your app. It will also give users time to think and try before actually purchasing the app. Users will be able to access the basic features of the app but will need to pay a price to upgrade to the premium version. App Development Company

  4. mobile app development companies Examples of freemium apps: Linkedin and Dropbox So, basically freemium apps can be downloaded at zero cost but then there will be some locked features, which the user can unlock by paying. Or, another approach which you can take is, to create a completely separate app with all the features which will provide the user with a complete experience, on a trial basis.And after the expiry of the trial app, they can pay to get access to the premium version of the app. So, after testing the app, the user will be sure of what your app has to offer. This also helps to engage customers who are equipped to pay for the in-app tools. This model works on the ability to attract free users and then coax them enough to make them pay for the premium access. So when do you opt for this method? ● When you want mixed reviews from users and ads ● When you want to add notable users ● When the free version is enticing enough to attract users and encourage them to buy extra features. 4. M-commerce/In-app purchases This is another way where you use mobile apps as a platform to sell your services or goods. The app in itself is free of cost but users have to spend money on the products which are inside the app. App Development Company

  5. mobile app development companies Amazon is the best example of m-commerce Eventually, your app acts as a mobile storefront/ sales channel and you are selling virtual or physical goods. This strategy can be put to use for apps which deal in the field of gaming, services or a retail app. In spite of not having an app fee, you can benefit from this.In-app purchases help in giving real value to the users. If you have a look at the top grossing mobile apps, you will see that all the apps are free, but they have loads of in-app purchases. This is one of the main monetization methods adopted by all the top grossing apps on the app store. To sum up: While monetizing an app, you should not forget how important it is to have a great UX. If an ad based app is free of cost but is so annoying or intrusive that it interrupts with app content, then there is no point. You need to know when and where to draw the line when it comes to incorporating all these factors. This list of top iPhone app development companies and published by GoodFirms will help you in finding out the top mobile app development company for your organization. The right balance will not only increase your user base but also enhance your revenues. App Development Company

  6. mobile app development companies If you are planning on a seamless integration of monetization in your app, then this list of top android mobile app development companies can prove to be of great help. So leverage these strategies for your brand and watch your business start to generate revenue more than ever! Source Link:- https://topcompaniesreview.wordpress.com/2018/04/18/how-to-effectively -monetize-your-mobile-app/ App Development Company

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