Are you searching for exceptional strategies to make money from your Android App? Of course, you must because this is a popular form of making money and many companies are nowadays involved in manufacturing apps for Android and iOS devices to gain huge profit.
If you are looking for ideas to make a profit from your mobile app, then you are in the right place. Here, we will be discussing the 7 best methods to monetize Android apps. This is very important for any app developer since it will generate revenue, which they can use to develop more apps. Moreover, these apps are the bread and butter for these developers.
Points to Remember Before Monetizing your Android App:
A huge number of apps enter the AppStore each day. However, among this ocean of new apps, only a handful of them are able to get profit. Due to this reason, app monetization strategies are important. They will tell you how you can develop your app to make more profit.
Here are some of the aspects which you should consider while strategizing the working of your app:-
- Rather than sticking with either a paid app or free app, it is better to use a mix of both the apps.
- Your success is not guaranteed alone by a subscription model.
III. While determining “how to monetize Android app?”, you have to consider both the potential as well as the actual users.
- Just like the apps vary with the different target audiences, your strategies for monetization must also change.
- Lastly, you have to keep in mind that any strategies to monetize Android apps will take time in showing results. Therefore, you have to be patient and must not expect fast results.
Popular 7 Strategies that you can Opt for Android App Monetization:
So, let us see how to monetize Android app with the help of different app monetization strategies:
1. Virtual Currency
Virtual currencies are used as revenue models by many successful apps. This is seen primarily in gaming apps. The main purpose behind this is that players will use this currency to play more and participate in special in-game events. This currency can be spent by the players in purchasing special items or features. With the help of this mobile app monetization strategy, the developers can earn great profits.
2. Premium Upgrade
Many apps make use of the app monetization strategies like offering its users the free version of the app and then suggesting them to upgrade to premium by charging a small fee. This results in a very smooth transition from the free version to the paid version. This strategy of monetization is called “freemium”.
However, for the success of this strategy, the users should be interested in the free version of the app. Only then the users will be interested in upgrading to the premium version. This can also be applied to movies or music apps. In such apps, the users are allowed to download a certain amount of movies or songs. When that number is reached, they can use the service of the app by buying a subscription. This is a very successful strategy used by many successful Android apps.
3. Using the Advertisement in a Native Way
With the help of this strategy, the developers will be able to earn profiles while giving a less intrusive user experience to the users. The ads that are shown in these apps blend with the visuals of the apps. This offers no restrictions for the users to use the apps. To make this native advertisement possible, the designers have to work a bit in their design.
With this, they can incorporate the native advertisement in the app. This is one of the most effective app monetization strategies.
4. In-app Purchase
The in-app purchase is the most popular and the most talked-about monetization strategy of all. This is effective mostly in the case of free apps. With this method, the users face no obstruction in their user experience. In this method, all they have to do is to make small purchases in order to unlock many new features and items. The gaming apps make the users use the app for hours. This strategy is very effective in gaming apps. Hence, when an app generates a huge number of active users, the in-app purchase will act as an effective mobile app monetization strategy.
5. Using Newsletter
You can utilize the newsletter for a monetization drive if your app has a newsletter. In order to generate more consequent leads and registration, you can push the newsletter through your app. This is also a very effective way of getting more traffic from your app to your website. If your app is representing your website, then this is a very good strategy.
6. Advertisers Giving Incentives
Another interesting mobile app monetization strategy is to let brands show an advertisement on your app. Whenever that brand will get a lead with the help of these ads, you will get an incentive. This is because you helped that brand to gain a lead. Ads related to the app will allow many users to come across it. Among them, some may be interested in trying out that object and this will turn to leads.
7. Retention by Using Analytics
Analytics will help you to analyze the areas that will help you to make the app more interesting and engagement friendly. However, without understanding the behavior of the users, you will not be able to improve your app. Analytics helps you to get a good understanding of the users’ context, demographic data, and buying patterns. Analytics is very important to monetize Android apps.
I hope that with the help of the above-discussed methods, you will be able to monetize your Android apps effectively. These are the most effective Android app monetization strategies that are being popularly used by a wide number of users all around the world.
If you are developing a new app, then it is the best time to incorporate these strategies within your app. However, if you already have an app and you have not used any monetization strategies, then you should use it without any hesitation before it gets too late.