Marketing Strategy for Mobile Applications
You have an idea that can possibly change the face of the mobile app universe. But, how do you get it to the millions of users out there? How do you get it to stand out from a virtual sea of similar offerings by other, much prominent players? There are no doubt product owners or businesses can strike gold with their app if backed by effective product engineering along with development capabilities. What after the application is developed and ready for launch? We explore the available options of driving mobile apps revenue in this post.
1. In-App Advertising:
Mobile applications are witnessing a sharp rise in the number of advertisements, as they are an effective monetizing option for marketers without directly collecting money from the users. The other advantage of in-app advertising is that it facilitates free downloads by removing the cost barriers to app purchases.
You can create highly targeted and personalized in-app advertisements that attract users to relevant offers, without conflicting with their app user experience. However, it also demands attention-to-detail to ensure that the advertisements do not distract or dissuade the otherwise engaged user. A discussion with a mobile app company can yield insights into the intricacies involved with in-app advertising.
2. Affiliate Marketing/ Lead Generation:
With affiliate marketing, marketers can earn commissions in response to user actions like following a link to another page or site and purchasing or downloading something. Although the affiliates approach is losing steam, lead generation seems to be catching up, notably with apps in the finance sector. Free applications selling leads to credit card companies or banks are generating profits to the tune of $250 million.
3. In-App Purchases:
They are what they sound like — making purchases right from the app. These are yet another source of revenue for your business, where you either sell physical products of the real world or sell virtual products available only within the app and retain the profits. In-app purchases constitute a broader term for all forms of purchases made through or within the application.
A few common examples include the option to buy virtual goods in exchange of additional lives or the sale of in-app currencies.
4. Freemium Features:
As the name suggests, a freemium application is free to use, but includes certain premium or advanced features available at a price. These types of mobile applications cost users some money if they wish to proceed further or unlock the premium features. This approach works particularly well for gaming applications. All it takes for the users is to engage with the application as they conquer a few levels and want to improve their status, before they make a purchase.
To identify as well as determine the best possible app marketing approach to monetizing your mobile application, you can consult a mobile app company. The aforementioned points are applicable for both Android as well as iOS-based apps. However, a point of difference is to be noted here — in-app advertising works for Android apps while in-app purchases can work for iOS apps. That said, a team of Android app developers while working on the development process could outline the most feasible post-launch marketing options into the application.