Business and revenues always walk side by side. A successful mobile app development not only promote the business but fetches extra money, too!
Business and revenues always walk side by side. An organization can sustain or increase its reach only if it deals up with current trends. With the revolution of electronics and internet, every year new different trends are emerging! E-commerce is an old term, m-commerce is the talk of town nowadays. Business mobile application development is the key strategy for any business to sustain in the m-commerce spurt.
According to the survey, 62% business in the U.S.A has already started a business on private mobile apps. A business uses mobile application 20% for branding, 30% for revenue and rest for support and customer engagement. So you can see that 30% extra revenue is dragged by mobile apps.
In this article, we will have detailed discussion on money making models of the mobile application. We will have a glance at the companies who earned pretty good revenues from mobile applications. In the last section, we will see the different strategies to successfully market your app.
Money Making Strides With Different Approaches in the World of Business Mobile App Development…
A mobile app is available on one touch. This key factor drives the customer to have everything on mobile rather than using and clicking on desktop applications. Whether it is booking a table for a restaurant, or purchasing electronic goods or ordering groceries, a customer wants everything on his palm with one touch. This mobile application not only caters the market needs but are also available with the services of custom needs.
If you have an idea and want to develop your own business, then business mobile app development is the right choice. Of course, there is monetization related decision to make out. The current market offers plenty of money making models to go for. Let’s have a look at the approaches:
Everyone likes to have a free thing. This model comes with a free download kind of stuff. This type of business mobile applications offers basic features for free. Premium features can be obtained through some payment only. Most music related apps do this. For one period of time, they keep the app for free and after the expiration of the period, the user would have to go for purchase. Antivirus program AVG has accepted the freemium model. If the user likes the app for more time. The chances of him to make the continuous purchase is awesome. The idea behind this approach is to increase the reach of the customer base and by thus more revenue generation. It may have two kinds versions, free would contain limited features whereas premium would be full access. For example, Angry Birds, StickTennis.
Freemium with Continuous Purchase
Similar to a freemium model, these mobile apps let the user navigate through the app fully but for the additional entertainment or happiness, purchasing add-ons is surely a greedy idea. Most gaming apps do this. For example, Candy crush lets the user play throughout but for more levels, more joyful features, a purchase has to be made. This kind of app would make you spend continuously in order to have more fun. The amazing prime video is the one who gives one month free if you pay already for the second month. And in order to continue, every month purchase is required. Emoji app provides different emoji, some are free and for some payment is essential.
Freemium with Advertisements
Advertisements are mostly for the benefit of both user and business. A win-win situation for all. A user gets the full functions of apps and a business would generate revenues from the advertisements. Sometimes publisher gives premium version also which totally adds free but the user has to make a purchase for that premium account. Traffic building through a free app is always easy to compare to others. Publisher earns money based on the impressions on ads.
For example, Facebook has tagline-‘It is free and it will always be.’ Now we can see the reach of Facebook and it doesn’t have a shortage of ads campaigns.
With third party advertisement promoters, a publisher can earn money and give full access to medium providers. AdToApp is a platform which covers multiple ad agencies under one roof. So a publisher doesn’t have to worry about fetching ads. Integration with AdToApp does the marketing work. These apps are mostly content based. Most health apps or recipe apps are these kinds of apps. These apps earn only after some decided number of users download the app. For example, GM diet app provides full 7-day diet chart of a weight loss program. So this app would gain revenue from the user downloads. So choose this kind of model if you think that your app is going to be in the market for a prolonged time. Here repetition of existing customers and fetching of new customer really requires hard efforts.
This concept is very simple. One Business Mobile App Development partners with one company for the advertisement. This app would allocate special place on the app for that sponsor partner. Take an example of the grid and Manuka berries, the grid has allocated separate space for Manuka berries. Have a look.
Advertising through Videos
Previously advertisement banners used to be shown on the app. But nowadays a popular concept ‘video advertising’ has emerged in the market. Instead of banners, continuous video integration runs on the mobile. These kinds of apps drag customer attention and engagement very attractive way. Chances of customer going for that ad increases in a lot better way. This approach comes with the strong user to customer ratio from the advertisement. Off course, selection, representation, and authenticity of the videos need to be effective and real.
This is kind of old concept and freemium model has overtaken it in the very strong way. But it does exist. A user can have an access to the application only after a payment is done. No free use, no custom use nothing comes here. That’s why it is an old approach. Many Game apps are so popular with their versions that people wait for the next version to release and intend have the game as soon as it is launched in the app store. Photo editing apps are also the kind of one. But this kind of apps needs an immense amount of promotion. This app can be a sponsor to another app and via the partnership can drag more customer base.
Appshout is the promotional service which helps in increasing other app’s reach. The promotion apps charge money for the needy app and in exchange provides its excellent market services like press releases or newsletters etc.
Successful Money Making Business Mobile App Development with Just 3 Simple Strategies!
As we have seen in starting of an article, business needs an app for a successful brand creation with significant 30% percentage. Branding of an app required a thoughtful process because you cannot fool the customer and also can’t take the customer for a granted. So need for being real and updated requires a lot of guts and research. Extensive data, real images, and reviews regarding a good quality service/products give the application an edge over its competitors.
Timing – determining ‘When’
A successful mobile application will always have answers of ‘Who’ and ‘When’. ‘Whom’ to target ‘when’ must be the vision behind the app. Many time, an organization has the list of potential customer base but doesn’t do research on the timings of demand. And the one who delivers at right time to right customer is a winner. For example, a baby cloth shop has a mobile application and it has its existing customer and potential customer details. Now suppose a new product related to newborn baby arrives. The shop which has details of pregnant ladies will make a boom with the product. The product arrival intimation would especially go those ladies and the targets can be achieved. Catching the emotions of the user demands right timings.
Easy delivery experience – determining ‘How’
Once ‘who’ and ‘when’ are determined, the question arises ‘How’. In terms of mobile app development, it is the delivery of the product/service or an integration of ad. An advertisement should be seamlessly integrated with the application. The ad should merge with the flow of the application like a sugar in a milk.
Value addition – determining ‘What next’
The trust of mobile app users is not something to experiment for. Value addition has to be incorporated by brands. Free app in exchange for ads is an old concept. Brand marketers will have to give something extra and value based. Customers can not be taken for granted. Coupons, offers, discounts are the current market trends. The user should feel proud to choose the app.
The customer should feel that he is the king. Customer loyalty comes with continuous value for money products/ services. A business should go for mobile app development with monetization effects and plans. The best suitable plan should be in the interest of both user and business. The key things to keep in mind is to target the right customer at right time with right values.