Proven Strategies For App Monetization That Works

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Proven Strategies for App Monetization that Works

Generating a successful app which encourages the audience to download is just one part of your goal to develop an app. The other part is to generate revenue out of it.

Having an app with a good count of users is something like you achieved your milestone. But the most significant task is to get money for the efforts you have put. Irrespective of the aim you have in developing an app. 

Generating money is necessary to handle the expenses of its maintenance. An app with a good count of relevant users can bring you an unimaginable amount for your efforts. 

Yes, it's true, and it’s practised by most of the developers in different fields and leveraging out of it. 

To generate revenue out of your app, you need active and relevant users for your app. 

Let’s go through some of the app monetization strategies you can use to generate revenue for your app.

The free and paid version of the app

It’s the most followed strategy by most of the app developers. It helps the developers in two ways, by free version, they can quickly grab the attention of their users and second is to get paid for their premium features. In these types of apps, developers generally keep some features as paid and some basic features as free. 

Free app with an in-app purchase model

In these types of models, the apps are free, but for getting to the next level, they have to purchase certain elements. For example- it is practised by most of the top game developers like PubG, Candy Crush, Temple Run and many more. In this, also it’s straightforward to attract the users, and even you don’t need to ask users to purchase, they purchase it with their interest. It’s a common strategy which returns high on investment.

In-app advertising

We have various formats to display ads for example-classic banner ads, interstitial, native advertising, interstitial video, pre-roll video, rewarded video, and many more formats. You can go for an open marketplace where real-time bidding takes place between advertisers and publishers, or you can direct sale your ad space who are interested in that particular audience. 

Subscriptions 

Providing subscription options within an app will help you in two ways - either you can remind your user to repurchase the in-app purchases or collect your app users data and use it for other advertising purposes. Even you can use your app data to generate revenue out of it by selling or exchanging user data with the third party in an anonymous and secured way.

Many more strategies are available to generate revenue out of an app. But these are the most used strategies by the developers and getting good income out of it.

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Keywords: app,data,monetization

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