Top 5 Lesser Known App Monetization Strategies
App development has become a lucrative business for the wide range of industries. Be it Android app development or iOS app development, the play stores are flooded with the applications.
People download the hoards of the application that are making their lives easier. Developed countries are outperforming in this regard and developing countries like UK, Brazil, Russia and India are trying to make their name on the list.
So how the companies belong to the nations can penetrate the huge market that’s offering myriad of opportunities to everyone.
In this case, the best of the breed App Development and top-notch marketing strategies also won’t work. While there is a need to adapt a few things that will enable the companies to monetize on the app launched.
Here we have rounded up the list of the six facts that will assist in app monetization:
1) Ensure download size is minimum
In the developing countries, getting a smooth internet connection is tough and if it’s available then it comes with the cost. A large fraction of the users are using either Wi-Fi or 2G/3G network.
In such countries, launching the apps with less size are more convenient and later, the upgrade versions of download equivalent size would go. This way users can be motivated to download the app, if the initial levels are able to intrigue them, then they will certainly download its next level, no matter how large they are.
2) Enable app download with no data usage
It sounds strange, right? But, it’s true. There are many carriers that are loaded with the mobile app stores, which enable app download without any use of data.
In the developing countries, internet connectivity is an emerging market where less people can afford to use active data packages. So, it’s great to enable the app downloads with no data usage as it will increase the chances of app downloads.
3) Give the app a local look and feel
The apps can be made multilingual. The users can get the app in their local language, but getting local UI, and giving the users the look and feel of the local region is not difficult.
It’s good to add local themes, style, and feel in the app so that the app users will get native-like UI and user experience.
4) Prefer pay-as-you-go model
The subscription-based apps are good as compared to fixed cost apps where the initial cost will become a greater barrier in downloading the app.
Going ahead with low subscription fees is better because the users in the developing nations are more comfortable and find it more convincing.
Employ the practice of first keeping the ticket size low at initial levels and then you can raise the amount.
5) Local carriers- best for app payment
All users are generally not aware of or have the resources to pay for the mobile app digitally. That’s where partnering with the carriers is the best way as they themselves handles the distribution and billing of the application.
For instance: In China, carrier billing and carrier branded app stores takes the credit of bringing over 75% of app revenue.
Summing it up
Monetizing the app is an art. It calls for smart tactics and intelligent ways to generate revenue. It cannot be a part of the app development or app marketing. It’s completely different.
With the changing face of global mobile app demands, the app owners also need to make unique moves and some tricks that will help them create a roadmap to success.
The app monetization strategy can never be same, so employ the tips and plan that’s the best fit for your app and raise a toast to success.