How to Make More Money With a Mobile App
Despite the current economic situation, the business of Mobile App Sydney is booming. Mobile business App Dev’s Sydney is more lucrative than ever before. And over the next five years are only going to increase profit for business owners further.
If you have an active service or product and a strong monetisation strategy in place, utilising your mobile app will inevitably help you tap into the vast and increasing spending power of millennial’s.
But why mobile apps, you ask?
90% of time spent on mobile is on APPS.
Below are just four strategies you can implement to increase your profits through your mobile app.
If you are not running ads on your mobile app, you could be missing out on some serious profits. Because of the large amount of time people spend on apps. An advantage of running digital advertising through your app is that you don’t need to make the mobile app developer sydney paid to start earning straight away.
Some possible examples could be a reward video if your user could earn in-app points to be used towards a product or service. Later on, another popular mobile ad type is classic banner ads that display at the top or bottom of the screen.
Apps that will benefit most from this type of monetization are apps that don’t offer in-app purchases or those who care clear on their target audience and regularly monitor behavior changes.
A few key questions to ask before you incorporate ads into your app are:
- What type of ads would my target audience prefer?
- How can I correlate these with my brand?
- Will these ads be overbearing, or ruin the user experience for my customers?
- How can we create the most meaningful experience with these ads?
Utilizing in-app prompts weather; it is through SMS or Push notifications from your App Developer sydney will become one of the most potent interactional tools you have. Being always at your customers’ fingertips, you can schedule reminders, updates, sales, or contests at any time, and doing so will drive the user back to your app.
For example, many restaurants set up a geo-targeting feature that alerts nearby app users of lunch specials or deals on the day, driving hungry stomachs straight into their business.
There so many ways you can harness this feature of your app. Here are a few more examples.
- Ecommerce can send abandoned cart notifications to bring customers back to the buying process.
- Segment users to provide custom and personalized services or products.
- Generate ad revenue by with push notification ads for complementary products.
With consumers flocking more now than ever before to subscription model services, it is ideal to jump on this bandwagon and incorporate it into your mobile app. It can be a fine line determining how useful your free features compared to your paid subscription.
Overall, though, it is a fantastic way to increase revenue, recent studies show that apps with subscription-based services are making roughly 50% more profit than those without.
A good example would be a personal trainer or gym, offering a subscription of 10$ a month for access to premium workout videos and exercises directly through the app.
Take in mind when incorporating a subscription service into your app, ensure you are keeping the services fresh and up to date, that will keep users coming back for more. Customers will not pay a monthly fee for an app unless you can provide real value and meet there needs.
Many of you may wonder how email marketing fits into a mobile app. It may seem like an old technique. But creating an email list with your mobile app can be an extremely effective monetization method. It can also be an effective way of re-targeting users that may not have used your app in a while and drive them back to the platform.
Here are two ways to acquire customers’ emails when using your app.
- The simplest way is to ask the user when they first load the app or have an information capture screen for a first-time user where they can create a user and password to access the app. It’s a good idea to have options such as “Continue without sign-up” or something along the lines.
- The second way can be to incorporate Facebook SDK into the app; having a Facebook login inside the app will allow you to capture customer details and email.
So even if you’re skeptical about trying email marketing again, you’ll likely benefit from it. You and your business will gain more than just sales and revenue. You retain loyal customers through thoughtful interactions by providing valuable content.
Overall there are many more ways you can make money with a mobile app, but just having an app doesn’t mean you will. Your Mobile App development is a business tool, and Maybe your most powerful at that. And like any successful business campaign, you will need a strategy. For expert advice, or to create your business app, contact our team for a free consultation.