There are over million apps available on the Apple iTunes and Google App Store. While this is amazing for consumers, it’s not so amazing for app developers. Having a thousand of apps to compete with makes it more difficult to stand out and make a piece of money. Not only if your app get noticed, but you have to convince your customers to download it and use it and another most important thing to get them to continue using it.
Now let’s focus on and move to app monetization. Successful app monetization is a difficult goal to achieve. There are three primary approaches to app monetization which helps you to maximize the ROI from your app. So, putting yourself one step ahead of the competition.
Advertising is the simple and easiest way in app monetization. You assign space in your app to a third-party that applies it to deliver ads, and when those ads generate revenue, you set out a bit of it. Most advertisers use a pay-per-click model which means that every time a user clicks an ad in your app, it creates a little bit of revenue.
Premium Paid App
The choice of many is to simply sell the app. If you have created amazing app, then lots of people want to buy it and you will become rich. But every time things not really work that way. As per the statics of free apps are more downloaded then paid ones. If you are going with paid app that means your app will enter the market at huge disadvantage.
In-app purchase is the best way in app monetization. You can sell your product inside your app such as extra gold coins, health upgrades in games, extra level of your app and a very typical way of offering in-app purchase is to show ads and ask users to pay a buck or two if they don’t want to see any ads. You can offer more functionality of more value for price. User can test your app and if they like it then they can decide to buy it and in return you’ll get more money and more downloads.
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This is not only helps them in creating better prototypes for your Mobile App, but also to visualize your Mobile App effective.
Teams at Space-O Technologies would love to see real world examples in action prior to developing the App in your requirements documents.