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The Best Ways To Monetize Your Mobile Applications

ASO

24
Sep 2018
2719 Views 5 Minute Read
app monetization
podcast
If you are planning to make some modifications and updates to give a boost to your business app, you must always be aware of the different ways of monetizing your mobile applications, since it is an aspect that is constantly evolving.
 
Being up to date with the latest trends in mobile application monetization is essential for the success of any project of this style. In fact, it is fundamental for any digital project, be it a web page, an app, etc. Mobile app development companies know how to integrate features into your mobile app that will enable you to make money from it.
 
Best ways to monetize your mobile app in 2018

1. Create an official website for the app
Creating an official website for the application is one of the most important requirements for the success of any app. Keep in mind that an official page can be a great way to promote the application and distribute it for users to download the app directly from the web or linking it to the download pages of the main app markets where it will be distributed (App Store, Play Store, etc.).
 
2. Limit the use of ads in trial versions
 
app advertisements
 
This practice is very common in countries like the United States where they have been ahead in the race for the monetization of mobile applications for several years. The term "ads-free upgrade" refers to the use of advertising elements such as banners or pop-ups when users download the app for free and use it for the first time, but not when they use it in a premium or paid version. 
 
This practice has the objective not to pressure the habitual users who spend their money on the paid versions.
 
The reality is that users start spending money on a paid version after trying the free version and are used to handling the app. That is why, since they are paying for the use of these applications, removing the advertisements is a good strategy to improve the user experience. 
 
3. Offer the option to become a "Premium" member of your app
Another way to get money with your mobile application is by providing the option of becoming a premium member. This option is slightly different from the previous one in which the ads are eliminated to those users who pay to use your app. Mobile app development companies can help you create apps that have free and paid versions.
 
In the premium modalities, special contents or options are offered that are different from those that already come in the free versions. When contacting mobile app development companies, you should discuss all the features that you want on the app with them.
 
4. Allow the download of complementary applications to yours
Perhaps this strategy to increase the income of your mobile applications may seem a little risky, but you will realize that after analyzing it a bit more, it is an interesting idea.
 
Have you found any app that when you install it, you are also including another couple of applications? Few do so but more and more examples of this practice are emerging.
 
The popular Android application called 360 Security allows us to protect our phones and clean possible elements that can cause viruses or prevent the proper functioning of our devices. For this, it will include next to the download of the app, the download of other apps that can be useful for the user. The best way to be able to carry out this practice in an ethical way would be that in the description of the mobile application, it will be specified that another complementary one will be added that results in commercial benefits for us.
 
Users may feel annoyed with this as they are being offered something they do not require and thus occupy more space on their mobile devices than they had planned. Therefore, it is essential to implement this option in a subtle way and generate a great complementary utility to it. In this case, it would be the cleaning of the mobile phone and its protection, so 360 Security gets an added value in the services it offers.
 
One way to monetize mobile applications is to promote and enhance the download of other apps. These can be in form of banners and pop-ups in the application that offer other similar, related or complementary applications that may also be of interest to the users. 
 
To carry out this type of advertising, it is recommended that the app is offered for free. Otherwise, users may not download it. No user wants to pay for an app with advertising.
 
Regarding these ways of monetizing mobile applications, as with the rest of the other tips offered so far, they may not work for all mobile applications that are in the market.
 
Therefore, you should try this idea and measure the results. Check the number of users before adding these features and also the number of users afterward. This way, you will know if this method of monetizing your mobile application is effective or not.
 
5. Provide different payment methods to your users
 
payment methods
 
One of the characteristics of the 21st century is that all types of payment can be offered to people in different countries without any problem. Analyze the characteristics of the audience you want to address to find the best collection method. Here are some of the most popular methods:
- Credit card
- Bank transfer, etc.
 
These are the traditional ways to make payments and are currently the most used in most countries. Although the more you offer, the easier it will be for any user who wants to download your app (although it will also entail higher management costs).
 
It is not a way to monetize mobile app in itself, but it can increase and help improve the income you generate from the mobile app.
 
There are many other ways by which you can monetize your mobile app. You should discuss this with mobile app development companies before asking them to develop your mobile app. 
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Harnil Oza is the CEO & Founder of Hyperlink InfoSystem. With a passion for technology and an immaculate drive for entrepreneurship, Harnil has propelled Hyperlink InfoSystem to become a global pioneer in the world of innovative IT solutions. His exceptional leadership has inspired a multiverse of tech enthusiasts and also enabled thriving business expansion. His vision has helped the company achieve widespread respect for its remarkable track record of delivering beautifully constructed mobile apps, websites, and other products using every emerging technology. Outside his duties at Hyperlink InfoSystem, Harnil has earned a reputation for his conceptual leadership and initiatives in the tech industry. He is driven to impart expertise and insights to the forthcoming cohort of tech innovators. Harnil continues to champion growth, quality, and client satisfaction by fostering innovation and collaboration.

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