Strategies to monetize an app
Understanding how to monetize an app is one of the most important aspects when developing a mobile application.
A recent study carried out by ABI Research notes that the market for mobile applications will increase to 27,000 million. This figure shows us that the market for mobile applications can be a very significant source of income for those people who are considering converting an app into a business model. However, how do you monetise an app to gain maximum benefit?
A recent info graphic startApp throws revealing data: in 2012, the market for mobile applications generated revenue of 30,000 million. However, 89% of the downloaded application was free. You might be asking yourself how is this possible? It is clear that mobile users prefer free apps. So what strategies do we need to follow to monetize an app and maximise its performance.
Probably the freemuim model is the most used to monetize an application. This model consists of applications that offer free upgrades or additional premium content. This model is so popular that it accounts for 69% of the apps store and 75% in the Google Play Store. However, it is only effective for applications with a high number of downloads.
Another favourite for developers would be in-app advertising; this is to generate income through advertisement inside the application, but is now losing ground to freemium models. Moving on, the average size of screen used worldwide is 3.5 pulgdas and 70% of those users believe advertising on mobile apps is intrusive. Therefore, you should not occupy the entire screen space. In the event that you need to, you have to offer the possibility to close the advertisement in order to print or it should disappear when the content of the app has already been loaded, drawing timeouts.
This payment application is one of the most ways to monetize an app that can generate more profit, however developers prefer to offer the applications for free. In 2012 payment apps generated a profit of 8,000 billion, falling by 27% in the same year. In fact, it is expected that in 2017 the average price for mobile applications will be reduced to 8 cents this change has been partly because users do not like paying for applications.
Have you chosen Yeeply to develop an application for you business model? If you know how to monetize it, feel free to include this requirement in your project proposal that you post on our platform. Here at Yeeply we have more than 2,300 registered developers that can not only help you with the technical side, but also advise business strategies and promotional approaches too. At Yeeply we have the best professionals to meet your expectations.