How do you monetize mobile apps? Developers usually use at least one of three key strategies.
Strategy #1: In-app Advertising
In-app advertising is a good way to monetize mobile apps for consumer apps with big audiences and highly targeted mobile apps and some publishers are able to use ads to earn decent money solely from ads. In-app advertising works especially well for making money with mobile apps if your app is targeted apps, but ads work for apps with broad audiences as well. While it's possible to make money with mobile apps by negotiating with individual advertisers on ad placement, it's easier and more profitable to go through an advertising company like Moolah Media. Think of it like choosing between AdSense and putting up a banner that says “Advertise Here” and crossing your fingers that somebody finds it.
Strategy #2: In-app Transactions
In-app transactions, especially micro transactions, are a great way for mobile commerce apps, gaming apps and publishers with a large number of apps in their portfolio to make money with mobile apps. Developers have now started to utilize the power of in-app transactions thanks to recent advancements in in-app transaction technologies. Mobile app developers can cross-sell to another portfolio app, up-sell to a more expansive version of the app or generate online or offline leads. Keep in mind that in-app transactions are much more than just the one-time purchase. The transmission of information is a very powerful—and monetize able—transaction.
Strategy #3: Subscription Models
Subscriptions are best used for new content apps, professional and consumer services apps and telecom apps. The most successful examples of monetized subscription are from telecom apps (like Skype) but the trend is picking up. The subscription model helps developers keep their customers’ life value up. It’s a good idea to lower customer acquisition costs and reduce churn over time. Monthly trials and free offers are also great approaches.
Subscriptions are best used for new content apps, professional and consumer services apps and telecom apps. The most successful examples of monetized subscription are from telecom apps (like Skype) but the trend is picking up. The subscription model helps developers keep their customers’ life value up. It’s a good idea to lower customer acquisition costs and reduce churn over time. Monthly trials and free offers are also great approaches.
Guest post by Murray Newlands
Disclaimer: I work for Moolah Media
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