Mobile website and mobile application
Generally speaking, the first step of a mobile marketing strategy should be to create a mobile website. This is the minimum for your business to establish an online presence in a world dominated by the Internet and smartphones. On the other hand, mobile apps complement your website by making it easier for users to complete certain tasks and advance marketing goals than on the website.
How do app owners make money?
Trust us; there is no clear answer as to how much money you can make from the app. a lot of? Maybe more.
Therefore, we decided to help you realize your ideas and show you how to make money through the app.
1. In-app advertising
Statista shows that this year there will be more than 186 million US dollars for mobile advertising. There is no doubt that mobile advertising is driving the market. With in-app advertising, you can promote affiliate products within the app, and if users interact with these ads, you will be paid. The most commonly used marketing activities in affiliate marketing are cost-per-click, cost-per-view, and cost-per-install. If you want to make money from your app through advertising, you can use networks like AdMob and Flurry. You can display your ads in many ways-banners, native ads, videos, interstitial ads, or rich media ads that include audio, video, text, etc.
2. In-app purchases
IAP is made directly from the free mobile application. They are usually used to provide users with exclusive content or additional features. In short, they provide the ability to sell various virtual items directly from the app. The best free game apps like Clash of Clans and PlayerUnknown’s Battlegrounds enhance their user experience by providing users with IAP.
According to Forbes, this strategy has brought the highest revenue for publishers. Usually, this model is used in gaming applications, mainly because of digital currencies. In most cases, this is an exciting model that can convert free users to paying users without being too disturbing. But don’t forget that you must involve your users in your application so that they can continue to pay. With this strategy, it is very possible to create applications and make money through low-monetization methods.
3. Free value-added sales
The freemium upsell model allows you to provide your application for free, but will provide paid or advanced features. The magic of the freemium business model is that it can quickly grow your business through publicity. After personally experiencing the value of your application, users can enthusiastically spread information about your application.
Take Spotify as an example. Spotify is not necessarily a professional tool, but if you have used it before, you will know that everyone likes it. You can use Spotify and almost all its features for free, but you must listen to the ads on your desktop or mobile device. When users experience the benefits of your product without actually paying or losing anything in the process, you enter the door.
From here, you can persuade customers to pay or let your product do it for you. In general, if you can make users like and rely on your freemium model of products, they won’t mind spending money to get more. The best part? You don’t need to spend a penny because users themselves will promote your application.
Finding sponsors is a real money-making model. It works like this:
You create a mobile application with a large number of users, then you find a sponsoring company and ask them to update and use your application to match their brand.
There are two types of sponsorship deals; you can share the income with the sponsors, or you can require monthly sponsorship fees.
However, finding a sponsor is a difficult problem to crack. Your mobile application must be good enough to attract the interest of potential funders.
Although the paid subscription business model is the most common application monetization strategy, subscription-based mobile applications, such as Netflix, Amazon Prime, and Dropbox, have gained popularity recently.
It is similar to in-app purchases, the difference is that instead of allowing users to buy at any time, the model introduces a “subscription period.” When users have an active subscription period, they can use the paid features of the app, and then they can no longer use them unless they renew the subscription.
It is quickly becoming one of the main profit options because users can try the app for free for a fixed period and then choose whether to continue with a paid subscription. This brings a stable recurring income. In addition, application owners pay less transaction fees for long-term subscriptions to Apple and Google.
Do we need to mention that subscribers are usually loyal application users? The key to the success of the subscription model is to provide a steady stream of fresh and valuable content and services. As long as users can get value from the app, they will continue to subscribe.
When we say crowdfunding for your application, it does not necessarily mean that you have to find the funds needed to develop your application. You may need to fund specific parts of the mobile application development or to test specific features of the application.
You can publish your application on one of the crowdfunding platforms mentioned below to measure interest in your product and support it with all the funds you may need. Promote your project in the best way possible. If you get zero funding, then you should reconsider your product. But if people enthusiastically support your idea, then you might make a difference!
You may also get ideas during the app development process, and when your app is released, they will be your app’s ambassador and will talk about it.
- Application funder
7. One-time payment
For different purposes, many users cannot cope with the services of free mobile applications. Sometimes, they need more than just free offerings. Similarly, for different occasions, users need some additional services, and these services can only be provided by some paid applications.
They can only pay for companies they trust. One way to let users understand the value of their application is to create a condensed version of it and provide it to users for testing. If they find that your product is worth the money, they will buy paid apps.
But make sure your app is not just another app that they can use for free. Remember, users walked earlier than they walked in.
Why do you need a mobile app?
In addition to the number of hours people spend on the application, there are some other reasons to consider before building the application.
- The application can provide customers with information about your business. From prices to deals, reservations, and everything in between, your users should understand your business.
- You can promote your business or part of it to your base and goals. For example, if you own a bakery and sell bakery products, you can sell your products to home chefs or full-time moms through a personalized customer section.
- Stand out from the competition. You already know that if you provide customers with another contact method, you have an advantage over your competitors.
- Using the app, you can eliminate network noise and interference. You provide an overall experience focused solely on your business. It’s like being closer to your customers.
- Now that you know the “why” behind building a mobile app, let’s look at the important factors to consider before building an app.