Monetizing Your Mobile App: The Key Methods

The development of a mobile app is such an all-encompassing process that it can often be difficult to consider what should come after until the app is finished. Marketing and monetization should be key concerns throughout the development process. However, many companies end up tacking on these important processes as afterthoughts instead of integrating them into the process.

We’ve examined various marketing techniques for mobile apps in previous blog posts, so this time around we figure that we will examine monetization and some of the main techniques used in the current mobile app marketplace.

In-App Purchases

If you have ever played a mobile videogame you will likely have come across in-app purchase before. In essence, they are purchases that enhance the user’s app experience, such as purchasing a commodity used in a game that it otherwise provided in limited amounts. Through in-app purchases, mobile app providers can offer their apps for free with the aim of attracting money from the small percentage of users who enjoy the game to the point where they are willing to invest in it. When executed correctly, in-app purchases can result in tens, or even hundreds, of millions of pounds in revenue. However, some may see them as obtrusive to the point where they stop using the software, so it’s a thin line to tread.

Links to Other Services

Your mobile app can be a gateway to your company’s main services if you leverage it correctly. For example, a service provider may offer the user the opportunity to sign-up to an email newsletter, through which they can push other products without intruding on the user’s time with the app. Better yet, such services allow the company to advertise other services that the app itself may not deal with.

Adverts

Again, commonly seen in games but also used for many other types of mobile apps, in-app adverts allow for apps to be distributed free of charge, with money earned through payment from the company’s advertised via the app. Further, through the use of data collected from app users, you may be able to target the ads that people see, resulting in more click-through and even greater advertising revenue. Much like with in-app purchases, you need to find the right balance in advertising to ensure the ads themselves don’t intrude so much on the app experience that people get turned off from the software.

White Labelling The Code

If you have developed an app that proves popular with users and provides a great user experience, you can consider white labeling the code to make it available to other developers for use in their own apps. In essence, this makes you a software provider on two levels. It allows you to charge for the use and manipulation of the code you have created, while also provides the app itself to users without intruding on their use with money-making efforts. Unfortunately, the only way that white labeling will work is if the app proves popular enough that demand for the code itself actually exists.

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