Various ways of monetising your mobile apps in 2020.
Research by Statista revealed that there are about 3.3 billion smartphone users in the world as of December 2019. This translates to 42.63% of the world’s population having access to smartphones a significant percentage of which use either the iOS or Android operating systems. considering these numbers, App Development Warrington believes the mobile app business will still be profitable in 2020 if suitable monetisation models are used by the developers. Even though it is usually assumed that big companies such as Facebook and Google are the only ones who stand to benefit, smaller mobile app developers have continually entered into the market and making significant sums of money. Your app simply just has to be good enough to stand out from the others, be user-friendly and engaging to the end-user. A few monetisation strategies from which you can choose one or a combination that works for you include;
App Development Warrington confirmed that about 5.2% of all the app users spend their cash on in-app purchases. These purchases are highly varied however the average user spends about $9.60 monthly. Usually, the idea is offering an app that is free but good enough to make the user fall in love with the experience and hence spend cash in simple additional benefits such as unlocking premiums, extra lives, etc.
Subscriptions are a specific amount of money which you regularly get after a specified period i.e. month year, etc. for a product or service which you offer. Various apps such as Netflix, streaming apps, etc. use this monetisation model which according to App Development Warrington has proved to be very effective and ensures a steady cycle of revenue.
Revenue from Ads.
This has over the years been by far the most successful strategy and App Development Warrington disclosed that it has made the most amount of money for most app developers. A survey conducted by Sweet Pricing furthermore disclosed that in 2017 over 65% percent of all app developers chose to advertise as their major monetisation strategy. Google AdSense automatically reads content on your app to place the most suitable ads on it. you will then get paid from the various clicks and as your app gets popular clicks increase and more revenue for you as well.
Monetisation of data.
The app can within the boundaries of the law share data that is neither personal nor sensitive to companies that want to understand the demographics of specific categories of app users. App Development Warrington revealed data monetisation as a strategy that emerged in 2019 and you can use it get additional revenue from your app. Blue Whale Media a respected organisation in App development among other related areas insists on strict adherence to the privacy laws hen engaging on data monetisation to prevent possible lawsuits and always ask users for permission to share their data before doing so.
Depending on the nature of your app, you can use a combination of the strategies or a single strategy for monetisation purposes of your mobile app. All in all, App Development Warrington advises app developers to focus on developing a good and engaging app then monetise later. This will be useful considering the success of any monetisation strategy will depend on the number of users and a good, engaging app will get referrals and work for you. Click here to get professional assistance in app development from a team of specialist that is highly trained and experienced in the field