According to a report by Flurry – provider of analytics service – during 2010 to 2012, there were 80 to 84% iOS apps which were free. However, by 2013, the percentage increased to 90%. There is little doubt over the fact that as the number of free applications increase day in and day out, it is difficult to monetize on the mobile applications
One of the major reasons why appreneurs should approach iPhone application development services providers is to have the holistic strategy developed to cash in on the iPhone applications.
Though there is stiff competition in the application market, if there is a meticulous planning and execution during iPhone application development process itself, the opportunities to monetize applications are immense and limitless. When you approach a professional and experienced iPhone app development services company, they exactly know how to chart out this method and help you make money on your dram applications.
Let us see some of the methods that iPhone application development services employ to monetize applications.
The term in-app purchase refers to a new term called freemium app. This is an application which lies in the middle of the free and paid applications. When there is a free application available, users are naturally not willing to shell money for a paid application. In order to break this barrier, this business model makes the application available for free. However, if users want to avail additional features of the same applications, they need to pay money to enjoy more features!
This business model is an instant hit particularly with gaming applications as many types of games such as Candy Crush entices users to buy additional resources within the game to play the game more effectively and smoothly. Applications made for the gaming industry exploit this business model to the fullest.
While there is a tough competition due to easily available free applications, if you have got an application that is truly unique and had got a larger scale audience, you can charge your app upfront. Such niche applications may include a medical application developed to detect any serious illness, educational applications or fitness applications.
Another strategy to make the most out of paid applications is to price it lower. It is fact that revenues of applications depend on the number of downloads. So, if you price it lower, the number of downloads would naturally increase thereby generating massive profits.
Also, there are other application stores apart from Google Play and App Store. Such stores like Android app stores or Chinese app stores can be additional sources of revenues for paid applications.
In-app mobile advertising
This is one of the finest and the easiest ways that iPhone application development services company can suggest for you applications. In this, an application developer is instructed to select an ad network. Having selected any ad network, the developer downloads its SDK and places a mobile ad that an appreneur had chosen in the prescribed ad format. As there are plenty of mobile ad networks and ad formats available, this is the best and the fastest way to generate traffic for advertisers and make money for your applications.
What are you waiting for then? Approach a reliable professional iPhone application development services provider, and start making money out of your dream applications.