Some people may have told you to give up on your dream of making money off your mobile app because turning a profit isn’t going to happen. The reality is that these naysayers are wrong. It is more than possible for you to monetize your mobile application and gain revenue from it. In fact, industry experts predict that the popularity of mobile apps will continue to grow in the future.
That being said, making money is easier said than done. The mobile app market is flooded with applications and most of them have not found success. To make money you need to know what monetization strategies are available to you and how to put them into practice. You also need to understand that content is the king.
With that in mind, however, you need to keep in mind that not every strategy works for every app developer. For this reason, if you’re new to the app monetization world, here are some important tips to remember:
Promote your app via social media – one of the first crucial steps in regard to app monetization is making sure that your target audience is aware of your app’s existence. The fastest and easiest way to do that is by making good use of social media platforms like Facebook and Twitter. Run ad campaigns on your social media to boost application installs.
Sign up for advertising networks – a mobile advertising platform can hook you up with the best in-app advertising for your application; the type of advertising that will appeal to your audience and make you money. This is one of the best ways to effectively and conveniently monetize. These networks often support multiple mobile operating systems (ex. iOS, Android, etc.) as well as multiple ad formats like Interstitial, Banner, Smart Banner, Search, Table and more.
Use the power of email – many people think that email marketing is a thing of the past, but this couldn’t be further from the truth. Email marketing continues to be superior to both keyword and banner advertising, offering a higher rate of return compared to both of these methods. Email generates more conversion rates and gives you complete control over the messages you send out.
A strong content strategy – You need to make sure that the content of your app will not just appeal to your users, but also focuses on how to deliver and govern the content. Powerful and relevant content will make your brand stronger and will pull users back to your mobile app. To do this you need to understand your business goals and the needs of users at the same time. An effective content plan is one that sends notices, reminders, app updates, and promotional offerings straight to the user.