I spoke at the National Mobile App Award on April 18th, on the various methods on choosing an appropriate Monetization Model for developed Apps worldwide.
3. FIRST, LET’S BUST SOME MYTHS!
MYTHS
1. THE BEST WAY TO MAKE MONEY IS TO
CHARGE FOR IT!
2. I CAN MAKE THE APP FREE BUT THEN
CHARGE FOR EVERYTHING!
3. ADS ARE EVIL, THEY DISRUPT UX!
4. I DON’T NEED TO LOCALIZE MY APPS!
ADDS
4. FIRST, LET’S BUST SOME MYTHS!
REALITY
1. FREE APPS MAKE MORE MONEY!
2. CHARGING FOR EVERYTHING DECREASES LTV!
3. APPS ARE ENGAGING SO ADS ARE OKAY!
4. LOCALIZED CONTENT RULES!
ADDS
6. 1. WHAT PROBLEM ARE YOU SOLVING?
SECOND, IDENTIFY THE 4 WHATS
7. 1. WHAT PROBLEM ARE YOU SOLVING?
2. WHAT’S UNIQUE & WHY WOULD THEY PAY?
SECOND, IDENTIFY THE 4 WHATS
8. 1. WHAT PROBLEM ARE YOU SOLVING?
2. WHAT’S UNIQUE & WHY WOULD THEY PAY?3. WHAT ELSE WOULD THEY WANT TO PAY FOR?
SECOND, IDENTIFY THE 4 WHATS
9. 1. WHAT PROBLEM ARE YOU SOLVING?
2. WHAT’S UNIQUE & WHY WOULD THEY PAY?3. WHAT ELSE WOULD THEY WANT TO PAY FOR?
4. HOW HAS COMPETITION DONE?
SECOND, IDENTIFY THE 4 WHATS
11. THIRD, CONSIDER THESE 14 FACTORS!
• ARE YOU GOING TO COLLECT A
TON OF DATA ON YOUR USERS?
• WILL ADDS TAKE AWAY UX?
• DO YOU WANT TO BE PART OF A
LUCRATIVE & GROWING AD
INDUSTRY?
• ARE YOU A GAMING APP, OR
HAVE LEVELS & ADVANCED
FEATURES ALREADY?
• HOW LONG ARE YOUR SESSIONS?
• CAN YOU BUILD A BASE QUICKLY
AND HOOK THEM ON?
• WHAT’S THE RIGHT BALANCE
BETWEEN FREE & PAID UX?
• ARE YOU A RETAIL OR SERVICES
APP?
• DO YOU HAVE A CLEAR OPP TO
INTRODUCE GOODS IN YOUR APP?
• ARE YOU WILLING TO LET APP
STORES/OPERATORS TAKE A CUT?
• ARE YOU LOOKING TO EXPLORE
EVERY MARKET?
• DO YOU PREFER A DISCREET
STRATEGY?
• DOES YOUR APP REWARD ACTIVITY
EASILY?
• YOU WANT TO CONNECT OFFLINE
AND ONLINE ACTIVITY?
14. FREE (IN-APP ADVERTISING)
IS NOT FOR
NICHE OR
UTILITY
USAGE
YOU
REGULARLY
COLLECT
USER DATA
IF NO ORGANIC
OPP FOR IN APP
PURCHASE
IF YOUR APP,
FREE WITH IN-APP ADVERTISING
EXAMPLE,
16. PAID APPS
DEPENDS ON
SEAMLESS UX
FOR SUCCESS
IS REALLY
INNOVATIVE
AND UNIQUE
USERS ARE
LIKELY TO PAY
AND ENGAGE
ACTIVELY
IF YOUR APP,
PAID APPS
EXAMPLE,
17. IN APP PURCHASES
YOU DON’T
MIND APP
STORES
TAKING A CUT
GOODS WITH
CLEARLY
DEFINED
VALUE
RETAIL OR
SERVICES APP
IF YOUR APP,
IN APP PURCHASES
EXAMPLE,
18. PAYWALLS (SUBSCRIPTIONS)
IS A NEWS,
LIFESTYLE,
ENTERTAINME-
NT APP
HAS LONG
USAGE
DURATION
AND
SESSIONS
REQUIRES A
CONTINUAL
FLOW OF USAGE
IF YOUR APP,
PAYWALLS (SUBSCRIPTIONS)
EXAMPLE,