Are you an Android developer or marketer?? If yes, then..
How are you monetizing your app or how are you making money from your app?
So, you have developed a good android app based on very unique idea and now you are facing challenges in making money with it. Android app monetization is one of the most difficult challenges, which every marketer and developer is facing today. Reason behind this fact is that Android users are more valuable than iPhone users and that is why developers are focusing more on Android apps to make more money. In addition, unlike the restricted monetization options in iPhone app store, the Android app store offers plenty of opportunities for developers and marketer to monetize their mobile apps.
To earn downloads and dollars from your app you don’t have to rely solely on downloads. There are various different methods of monetizing Android apps, which includes:
- In- app advertising (Ads in free apps)
- Paid apps
- Paid version of the app itself : Freemium
In- app advertising (Ads in free apps): In Android market, free Android apps shows better results as compared to paid apps. The first method of app monetization is through in-app advertising. Your Android app can display a banner or text or even video ads and when your users click on the ad, you get a slice (usually 70%) of what the advertiser is paying. Some publishers are able to earn decent money solely from ads within their apps. So, it’s possible to make money with mobile apps by negotiating with individual or group of advertisers, and hence it becomes easier and more profitable to work with an advertising company.
Paid Apps: Paid app monetization require the user to pay money, so you should expect far fewer users. As, users gets numerous options of awesome free apps, so, usually few people prefer paid apps. Nowadays, it has become the least effective method of monetization.
In- app Purchases: Today the most popular way of monetization is in-app purchasing. Some developers actually make more money from in-app schemes. They are monetizing their free app by creating a paid schemes to unlock additional features. In-app transactions create more consistent revenue streams as hard core gamers end up spending a couple of bucks. However, it needs continuous up gradations and introduction of new features for your app to keep your customers engaged. To generate offline and online leads within your app you can monetize by :
1) Cross selling another app,
2) Up-sell to a premium version of your app
Apart, from this the app itself is the ultimate marketing multiplier. Because, by good marketing strategy of an OK app you can earn 1000 downloads, while with the exact same marketing strategy for the well-developed (error free coding) and astonishing graphics you can earn 100,000 downloads.
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