7 App Monetization Techniques to Increase App Revenue
You might have created an app out of passion but now looking for ways to generate a handsome amount of revenue through the app so that you don’t have to rely on 9 to 5 job.
Then you are at the right place. There are various app monetization strategies that you can consider for your application and reduce your app marketing cost. App monetization is a process through which you can turn your users into revenue-generating machines.
In this post, we will learn about the seven best app monetization strategies that you can use to monetize your app and start earning money.
- 1 7 Best App Monetization Models to Make Your App A Revenue-Generating Machine
- 2 Final Thought: Choose The Best!
Below are some well-researched and profit-generating monetization strategies that will help you earn money through apps.
An in-app purchase is a first and sure-short strategy to generate revenue through your app. Don’t believe it? Loot what statistics say:
Statistics suggest that 48% of earnings derive from in-app purchases. This means in-app purchases are a great way to earn as much money as possible by allowing them to choose the features they want to use.
One of the best examples of in-app purchases is the gaming sector. In such a case, the in-app purchase allows users to use real money and buy the features and necessary stuff while playing the game.
This completely depends on the type of the game – extra coins, previously unachievable stages or redeem free lives.
Email marketing is another popular platform that can improve the conversion rate and so revenue. This marketing channel is 40 times more effective at turning your potential customers than Facebook and Twitter.
There are more than 4 billion daily email users. The best part is that this figure will rise up to 4.6 billion by the year 2025. Most app developers use email marketing strategies to reach those audiences and make a penny from their app.
You can also make email marketing a part of your strategy and keep your users engaged by sending regular mail to your target customer about your app. Doing that helps you build a strong customer, improve your retention rate and generate outstanding revenue from the app.
List Your App Top On Ideal Platform
This is another excellent way to spread awareness about your app and increase its download ratio so that you can make money out of it. You must find the right platform with a vast user base and register your app. After that, your job is done.
Platforms like this list your app on top of its platform and ensure it reaches its intended users. Also, they get your app reviewed by top leaders, influencers, and celebrities so that the chance of downloading an app increases. As leaders and influencers influence people’s decisions, they follow.
One such platform, for example, is AppsHive. It is a platform that increases the chances of your app being found by millions of users. You just have to list your app on their platform, which is trusted by millions of users.
Incorporate Ads In Your App
App Advertising is one of the fastest-growing methods to generate revenue through an app. As per the statistics, the in-app advertisement is expected to grow by $226 billion by 2025.
The reason behind such tremendous growth is that most people prefer watching an app ad rather than paying for a premium version. Moreover, it makes your app more appealing to users.
Some ad formats are the most effective and do wonder. It includes banner ads, notification ads, native ads, and reward ads. Employing this marketing technique can help you engage millions of users.
It is one of the app monetization trends that you must take notice of. Why? The reason behind this is that, as per the Subscription economy index, over the last couple of years, the subscription business has seen a growth of 400%.
Due to this, numerous app developers embraced this strategy and incorporated it into the app to generate revenue.
Looking at this popularity, you can also use this strategy and monetize your app with three different subscription plans: the first free trial, the second premium, and the third advanced. Users will unlock new features with each level per their necessity and requirement.
Moreover, depending on the user’s experience and budget, you may upsell the subscription, generating revenue from the app. You can also enable the users to cancel their subscription whenever they want..
By doing this, you will leave a positive impression on their mind that only helps your business grow when they tell others about the positive experience with your app.
Keep Your Users Informed With Push Notification
Push notifications are one of the powerful app monetization strategies. How? Around 90% of users abandon shopping carts! That’s a high number, and with effective push notifications, app owners can efficiently deal with such alarming numbers.
According to the CEO of Hopper, push notification is one of the best revenue-generating methods and can help you make 90% of the profit. How?
Because of the individual’s busy schedule, they must remember to buy the product or abandon their shipping in the middle. With the push notification, you can remind them of those things and engage your users again to buy the goods and services.
Also, you can send the latest and exciting offers to the right audience at the right audience so that you engage the audience and monetize the app.
This is one of the oldest but most effective strategies to monetize your app. Around 70% of the users rely on this strategy and make money from the app.
With this strategy, users must pay once and download the app with full features. But you must remember that your app must contain enough valuable stuff that prompts your users to download the app.
Due to its great earning potential, this premium app is more valuable than its freemium counterpart. When signing up for a premium app, customers must select a price plan among the offered alternatives. Paid apps are not practical choices if an app wants to establish its brand and raise awareness among the targeted audience demographics.
These are some of the successful app monetization techniques. You’ll be able to connect with customers you might not have previously encountered and grow your brand.
Finding the most effective app monetization techniques is a need for all app developers. It’s possible that you and your app don’t need the same app monetization strategies as I do for me and my app.
You can even make extra money by white-labelling apps.
So, make great use of these strategies for app monetization, and watch as your company earns more money from apps than ever before.