How to Monetize Your Android or iOS Mobile Phone App

How to Monetize Your Android or iOS Mobile Phone App : Android and iOS have basically altered the Smartphone showcase. The Play Store and the Apple Store contains such a variety of applications that on the off chance that you begin downloading and utilizing every one of those, you will require numerous months to complete the procedure. The main reason behind such majestic size of the stores is the fact that the applications are easy to create thanks to endless gigabits of training material available online and in the form of books. But one question that these books fail to cover is – How to Monetize These Applications?

In the following blog post we will talk about 6 adapting techniques for applications and help you choose what will work for you.

Paid Apps:

This is one of the most sought after monetizing method for application. Other than being developer’s favorite method, this method makes the most money and converts easily (if it is really very helpful).

Pros:

• Simple and easy to implement
• Involves good money

Cons:

• Store keeps certain amount of money (30% in case of Apple)
• Cost of future upgrades is also covered within this cost

In – App Advertising:

Popular with free application, this technique includes showing notices inside the application. At the point when the clients tap on these adverts or regardless of the possibility that they see includes, you mint some cash (cents actually). Most of the developer allow users to make an in-app purchase (which is another method of monetization) and after that show every one of the components accessible in the superior rendition. We can likewise incorporate the (highly despised) notice adverts in this section.

Pros

• Simple and easy to implement
• Since the app is free, expect a lot of downloads

Cons

• Need a lot of downloads to make some appreciable income
• Rate of conversion is too low

In-App Purchases:

This strategy enables the client to buy a few focuses or premium stuff from inside the application. These purchases then can be used to enhance the experience of using the application in some way or the other. For instance, purchasing coins in a diversion application to overhaul weapons and tanks.

Pros:

• Almost unlimited offers can be promoted
• New items and premiums can be added with each update and hence capture more money through a single app

Cons:

• Moderate conversion rate
• If you sell through the official store, store keeps a fixed percentage for every deal and every offer promoted throughout the life of the app

Users Pay to Access the WebApp:

This is a sort of adaptation I keep away from. Although many successful app builders have been able to do wonders with this kind of a solution, it involves double the work than other methods. You make and convey an application for nothing for cell phones yet clients need to pay a settled add up to access the Web or Desktop application. The fundamental component related with such applications is the matching up of undertakings or notes and other such information while getting to the application from various sources.

Pros:

• Reaches more customers (webapp has its own charm)

Cons:

• Extra time and money required to develop web-app

Subscriptions:

This is my favorite method of capturing fixed amount of money every month. Much the same as a magazine, individuals subscribe to see the substance of your application on a week by week or month to month premise. For this method to work, content must be fresh, informative and helpful in day to day life.

 Pros:

• Not much competition in the app stores
• Can implement more sources of income like in-app purchases through affiliate links
• Monthly income

Cons:

• Conversion rate may fall if you fail to deliver appropriate content
• You compete with the free information available on internet

Affiliates and Lead Generation:

This strategy works for the applications that can offer administrations. For instance, in the event that you make an application for air ticket booking you can procure gigantic cash in commissions if individuals book tickets utilizing your affiliate links. BUT one major problem with this app is that that it requires a lot of trust from users.

 Pros:

• Huge money involved

Cons:

• Conversion rate is very low
• Volume of traffic is the key