4 Ways To Make Money With Mobile Apps
It’s no secret that having an application can positively impact your business growth. However, it’s not as simple as it looks. There are monetization models you should consider; a decision you should bank on proper research and viability studies.
The model you choose will have a direct effect on your revenue, so it’s imperative you select the best one for your business. To point you in the right direction, we’ve listed the four main monetization models you need to know.
1. FREEMIUM
Freemiums are essentially the basic version of your app that you offer to your users. It has limited features and content that they can access for free, but also premium features and content that they can access when they do an in-app purchase. This model is one of the most effective because it comes with the least resistance from users.
You basically give them a taste of the value your offer and once they’re hooked, give them the option for them to buy more features for a fixed price or subscriptions.
2. FREEMIUMS WITH ADVERTISEMENTS
This type of freemium earns money from advertisements. So, for this to generate a good amount of profit, your app use should have high volume and frequent usage.
3. ONE-TIME PAID APPS
As the name suggests, the profit for this will come from the initial payment that consumers will pay upon downloading the app. The expectation is that all features and updates are free after that.
The thing about paid apps is the fact that it should offer value to your consumers that’s compelling enough for them to actually download it without having tried it before. With this monetization model, your profits are from new users, since there would be no returning customers.
4. PAID APPS WITH PAID FEATURES
A highly-tricky mondetization model that will require a good marketing strategy. Users might be elusive to the fact that they have to pay to download your app and then pay some more just to maximize it. However, with a good strategy and a cleverly laid out value proposition, it can generate really good profit.
GROW YOUR REVENUE WITH AN APP THAT’S RIGHT FOR YOU.
It’s not enough that you simply launch an app, it should be an app that serves your customer’s needs and supports your business’ vision well. Partnering with the right mobile app development company in Dubai is critical to develop a tailor-fit app that will provide lifetime value to your users.
JTech World is a premier app development company in Dubai with years of experience and successful launches under their belt. We take your vision seriously and go the extra mile in making sure we don’t just meet your expectations but deliver beyond it.
Contact us today and let’s develop the app that will benefit your business.