Do you have a mobile application creation project and are looking for the most appropriate way to make your investment profitable? Because let’s be realistic, the creation of an application involves significant financial means.
How to monetize my mobile application?
Monetization is the practice that aims to make your application profitable, whether through paid downloads, advertising, or other practices.
5 Business models stand out:
- Advertising: it is about selling advertising space such as images, and videos to advertisers. This practice requires high traffic with a penetration rate just as strong to generate enough revenue. We hold your attention on the right mix of your advertising, too many pop-up disrupters or prolonged pre-rolls can have an opposite and negative effect on the consumer.
- The Freemium is the successful marriage of free service, called “free” and “premium”. We offer a free version with enough perspectives to make you want to buy the paid version and benefit from many additional features. We meet this process on applications that we no longer present such as Spotify, and LinkedIn, …
- In-App Purchase / Integrated Purchase: Think Candy Crush, and Clash of Clans and you will understand the principle of In-App purchase. A free addictive application with many paid bonuses available.
- Paid download: This is to make your application pay for the download. Attention should be known that the different blinds take a commission of more or less 30% on each downloaded application. In addition, it has been established that a paid application to 10 times less chance of being downloaded than a free one!
- Sponsorship: An advertiser pays the application to have a monopoly of visibility on all advertising banners of the mobile application. Thus, no other brand is present over a given period. Monetization is based on a duration format.
How to choose the monetization model of an app?
It is important to ask the right questions when developing an android app. Indeed, monetization as with everything has its qualities and disadvantages, it is therefore appropriate to pay particular attention to our expectations.
5 Main criteria must be taken into account before establishing your choice of monetization:
- What is the market I want to target? For an approach aimed at a very specific clientele, we recommend a paid download with a high price that will return an image of excellence, elitism, and rarity.
- Which platform for my application? Studies show different behavior depending on the platform you use. Thus we will observe that the users of iOS do not adhere to the advertising and have a preference for paid downloads and this is in contrast to Android users. As for the user’s Windows phone, it is to know that the system In-App purchase is not supported, the trial versions are to be avoided.
- Will my application be scalable? In this case, a trial version or freemium will be ideal.
- Does my application involve a single or long-term financial investment? Some applications require the use of web services or other, and therefore funding in the long term. In this case, advertising can be the ideal way to amortize your operating costs.
- Will my application have a useful character on a daily basis for the public? If so, the consumer will be willing to spend less than 1 euro to make their daily life easier. Advertising can also be considered in this case.
You now have all the keys to define the best monetization of your project.