It’s estimated that the mobile app industry will generate around 935 billion US dollars by 2023. So, it’s no surprise that mobile affiliate publishers put a huge amount of effort into developing superb content in the form of smartphone and tablet apps.
However, these content developers also need to ensure that they choose the right app monetization strategy in order to get the most out of the traffic they generate. Although not all publishers get to make money from the get-go, having the right monetization strategy can set you up for success while ensuring that users fall in love with your content.
At ActiveRevenue, we’ve worked with app developers that have been creating superb content for years, so we’re familiar with the best monetization strategies in terms of stability and profit margins. Below, we’ll go over the app monetization options you have available and provide tips on choosing the best way to make money off your mobile application.
App monetization is the process of making money from your mobile application. That said, this practice can take on a huge collection of forms, some of which charge users directly while others rely on selling data and similar activities to generate revenue.
Let’s take a look at the most popular app monetization models available today.
As the name suggests, pay-per-download apps charge users before they are allowed to obtain the application in question. Freemium apps are similar, but they don’t charge users for the initial download. Instead, Freemium apps provide limited functionality to help users see the value, then charge a fee in order to provide full access.
Additionally, you can opt to offer either in-app purchases or charge a subscription for your application. As the name suggests, in-app purchases can be made inside of the application and they often give users access to additional features (or levels in case the app is a game). Subscription apps charge users and provide access only after the payment has been completed.
The other major alternative you have for making money from your application is to offer in-app advertising. In simple terms, this monetization strategy allows you to sell the traffic you generate to other interested parties, with the help of a DSP like ActiveRevenue.
Remember, there is no one-size-fits-all when it comes to app monetization. To find the best approach, you have to analyze your unique circumstances and determine which strategies will help you generate the most money from your content.
Let’s take a look at some of the steps you have to take to identify the best app monetization technique.
The first step you need to take is to evaluate your app. In general terms, the more value your app delivers, the higher the chances of making money off it. At the same time, you should also consider whether you can combine monetization techniques. For example, if you develop a functional app like parking finder, you may be able to provide a free version that includes ads or give users the ability to pay for a premium version that doesn’t include advertising.
Once you have a full and clear understanding of your app, you have to figure out who you want to target and study this audience to unveil valuable information. The more you know about your audience, the easier it will be to generate engaging content. Make sure to review different tendencies using tools like Google Trends and similar platforms.
Although there are some exceptions, most app developers can learn valuable information from their competitors. You should leverage marketing intelligence tools to figure out what leading competitors are doing in terms of app monetization and determine if this would be a good route for your app. If not, you can use this to your advantage and target users who are not happy with the leaders’ current strategy.
Finally, you have to forge long-term relationships with the best monetization partners. You should research each partner before committing and make sure that you receive support when you need it most.
At ActiveRevenue, we help our publishers find the best monetization strategies and generate revenue using the most innovative ad formats, so reach out to our team if you need assistance with your app.
We know that all app developers are different, so we specialize in helping these content creators get the most out of their traffic. If you want to learn more about monetizing your mobile app, contact ActiveRevenue today and we’ll be glad to help.