The ultimate goal of each app developer is to turn an app into a profitable source of income. There are many ways to monetize an app. Which one works best? Choosing a right monetization strategy is of paramount importance as it can make or break your business. The truth is, there is no one answer. Every app is unique and solves specific problems.
Below is a list of the most successful mobile monetization strategies available on the market.
In-app ads are known to be the most popular source of revenue for app owners. They come in various formats: video, interstitial, native, app wall, banner. It is crucial to consider the types of ads you place. Make sure that they are not annoying or disturbing. Otherwise, current users might abandon your app.
The idea behind this model is to allow users to use the basic functions of an app for free. It gives an overall picture of what the app is all about but confines its full potential. “Freemium” apps usually include in-app purchases that bring revenue to app developers. The customers who want to receive a set of additional features have to pay for it. As a result, they can enjoy a better user experience and improved functionality.
Here you can discover the full list of the most bankable app revenue models. It will help you make a wise choice and select the one that fits your specific business needs.