Now that your app is finally ready after days or months of hard work, and it has finally come together, you must be ready and in action, to show the world what you have done. However, all your time has been spent in creating a great app, ensuring that its free of bugs and polished that you have not really thought about what will happen next.
What you should be aware of is that this is not a way to get rich quickly. If you are only counting on your app to get rich, then you will be disappointed. It is the truth, that there are only a handful of app developers who have become rich because of their apps. The competition in the marketplace is extremely stiff and what you should keep in mind is that downloads do not always contribute to sales, revenue at the end of the day is the most important thing.
Methods for App Monetization
We will discuss four of the most common methods that are used to create revenue from apps: You get paid by the app store every time you’re app is downloaded, advertisements that are built in to the apps, the integration of up-sales in the app, which work as in-app purchases (these could be upgrades for useful apps and weapon upgrading in the case of games.), the last method is to try and create exposure for the app and use it for the promotion of other projects. There are a number of cases where apps have created value for the developer by simply creating a platform for the visibility of other brands, businesses and projects.
You are probably already aware of the competition that exists in the mobile marketplace and when you do follow the methods for monetization suggested above, you can be sure that you will reap rewarding profits. Are there any other methods that are available for monetization?Yes, there are a handful of methods, that are not fairly unorthodox, and do not find place in the playbook for mobile marketing.
Make Money Through Commissions on Sales
Affiliate marketing has gained tremendous popularity on the Internet. If you have managed to create a following and can successfully lead that following to purchase something, the merchant will offer you commissions that are a percentage of the sales.
When you have a base of a substantial amount of users, you will be amazed at the amount of revenue that you will be able to generate from an app that offers the author of the app some commission every time a sale has happened due to a recommendation.
The best part about this method is that payment does not have to be solicited form app users. This method ensures that you remain in a competitive environment and keep gaining fiscal rewards for the developmental work that you do.
Keep Working on Building an App Family for Yourself
App developers who know the business are creating revenue by getting users to move form one app to another. It’s fairly simple and happens when a user downloads an app that has been recommended by an app that has already been downloaded and installed on their mobile device.
If you have a family of apps, this method can be very helpful. However, this method may not help you generate revenue instantly, but what it will help in, is ensuring that you have a loyal base developed and have a diverse set of apps, just in case one of your apps dips in terms of popularity.
Making Use of Many Strategies for Moentization
It could be apps that are doing very well, or it could be apps that are simply average, all of them employ a very basic method for monetization. Most developers will not even consider the option of in-app purchases, but by following multiple strategies for monetization, they can reap many profits. installation platform requirements.
By using multiple avenues for app monetization, the developer does not only restrict himself to one stream of revenue, but he also now has the ability to identify which is the best and most effective. When they collect information about which streams are good, they can easily choose to ignore the ones that are not offering great revenue. When a developer does not use multiple streams for revenue generation, he will not be able to compare and decide, which one is offering the most.