6 Ways to Effectively Monetize Your Mobile App

As an app development company, you not only build apps to gain money upfront but
you can actually create an application for your business that you can monetize. Just
how exactly can you make that happen?

Well, in this article, I will go over some ways you can effectively monetize your mobile
application.

Digital Advertising

Since there are plenty of apps in the different app stores out there, people can easily
find great alternatives to your application. That is why some monetization schemes
might not work effectively as you’d hope it to be.

So, what is one way to gain money from your application? Well, one of the best ways is
to employ in-app advertising.

There are five ways you can do this. You can either use full-screen ads which are
tailored ads that are not too imposing and people can easily get back to what they were
doing by clicking the close button.


There are notification ads where your ads will only be placed in the notification section
of the operating system. Then there is the capture form which is an opt-in feature that
provides incentives for people who sign-up.

Then there is the advanced overlay that, like f
ull-screen ads, are also employed in a
transitional way. And then, there are banner ads that can either be found at the top or
bottom of the page.

The key here is to not be obtrusive and too ‘in your face’. Also, allow the option for
people to close the ad since all it takes is a couple of seconds for them to process the
information that is imprinted on it.

Sponsors and Partnerships

Partner with companies that are in-line with your company’s motives. For instance, if
your company builds enterprise solutions, you can partner with similar businesses so
that both of you can benefit from each other.

This is great because there are businesses that will also feature their partners in their
ads, so take this as free advertising on your behalf.

Develop Something Compelling

Remember Flappy Birds? That iconic game was simple but it was so addictive that it
was a global phenomenon. Games or applications get popular only if it is really that
good. That is why you make it your sole mission to develop apps that are really great
that people will surely love.

The reason is that if you are creating something really awesome, other developers will
contact you to somehow re-skin and copy what you did. Of course, you are going to get
royalties that can really add up.

In-App Purchases

You can also employ a freemium model where the user can download your app for free
but there are certain functionalities that can only be unlocked once they’ve spent some
money.

This is usually seen in mobile games, but you can also implement this in other apps as
well.

Free and Premium

Another popular way to monetize your application is to offer both a free and premium
version. The free version is the barebones version of your application and the premium
one unlocks so many features.

Unlike in-app purchases, the premium version of your app is only a one-time deal which
means that users will only have to pay once to unlock the full version of your
application.

Subscription

If you are regularly adding features to your application, you might want to consider the
subscription-based model. This is essentially like utility bills where users will pay for
your service every month. If you are going to use this, make sure that you deliver.