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App Monetization Strategy – How to Make Money through In-App Advertising
1.
2. There are now more than a million apps on both iOS and
Android and billions of transactions take place on the
mobile marketplaces every year.
All this increased competition has been great for the
consumers, but it has also meant intense competition for
app developers. Investors who pour money into such
apps know how tough the market is. It is estimated that
less than 1% of apps make any profits at all.
This isn’t good news for developers, who generally spend
months of effort & money making and perfecting their
apps.
Introduction
3. You don’t need a degree from Harvard to know the word
‘Free’ still gets all the attention.
People still aren’t comfortable buying apps and the
proportion of apps that are paid for are gradually
shrinking. You also have to consider the massive cut both
Apple and Google take from the amount of money your
app earns when you sell it directly.
The most popular business model is, of course, free apps
with ad support.
How To Make Money Through
Your App?
4. Ads are nice and simple – you don’t have to spend hours
integrating them, the infrastructure is already there and
you get paid considerably if you can keep getting users to
come back to what you’ve created. Google and Apple
already have their own mobile app advertising system
and getting involved is as simple as registering with a
new email id.
But for ads to work for you, it has to be done right.
Doing The Good, Old-Fashioned
Advertising Right.
6. Attract Users
Monetizing your app won’t be possible if there aren’t
enough users. You need to market your product through
ASO, blog articles, online app reviews and use social media
to get people to try the app out. The wider the scope of
your users, the easier attracting advertisers is going to be.
7. Influence Consumer Behavior
The trick is to get the user addicted to the app. You have to
design something that is interesting and attractive enough
for the user to get hooked to, something he can’t resist
from opening all the time. And keep reminding users to
come back to your app through notifications.
8. Use Analytics Data
Now that you have your users coming back regularly to the
ad ecosystem you’ve signed up for, track the analytics data
like user demographics, behavior and most liked features.
Use this analytical data to showcase more relevant
advertisements to the users.
9. Take Control
Don’t let advertisers dictate how your app looks. Take
control of your brand and adjust where the adverts turn
up. You are responsible for how usable the app is. Make
the ads work for you, not against you.
10. Scale Up
Once you’re done experimenting, focus on the native apps
that perform the best. Buyers of ads either focus on UI or
APIs. Improve user interface, add new features to appeal
more users and create value. This way you will be able to
market it better. Allow advertisers to see in-depth
demographic data for your users.
11. Use Third-Parties
You can’t do everything. Trust the expert third-parties that
can make life easier for you. Use Parse, Amazon Web
Services and Twilio to take care of the backend whenever
you need it. Do your research and partner with the right
people to outsource the repetitive stuff.
12. Conclusion
Pay attention to how the ads are performing on your app and how you can
really improve on it to make the most of this strategy. There is a lot more to
successfully monetizing your app than what we could cover here.
Read the detailed article:
App Monetization Strategy – How To Make Money Through In-App Advertising
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14. July Rapid is the award-winning mobile app studio
of July Systems that transforms digital experiences
through rapid prototyping, building custom native
apps, and everywhere in between with an emphasis
on speed and design. July Rapid has built over
1,000 apps since 2001 and widely acknowledged to
be among the top app development companies,
globally.
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