The goal of any developer of free mobile apps is to make money from their product. In order to earn revenue – no matter what kind of app it is – you need to know the most effective ways to monetize the app. When you apply the right monetization methods, success is all but guaranteed.
Achieving app success takes more than app distribution. While it is definitely important to make sure your app is available in as many stores as possible – as this will enable it to reach more potential users – to make money, you need to attract users and retain them. This is where utilizing effective app monetization methods come into play.
Check out these three great ways to monetize your free mobile apps:
Ad networks
If you’re an indie developer who is new to the whole mobile app monetization scene, you might find seeking assistance from an advertising network to be highly useful. The key function of these networks is to connect developers/publishers with advertisers. In essence, a good mobile ad network will connect developers of apps with commercial companies who are best suited to the developer’s target market and the developer will host ads for the company in their app.
Of course, not all advertising networks are equal. If you do take this route, make sure the one you pick offers a variety of monetization models to help you maximize the revenue of your mobile apps.
In-app advertising
This is a style of advertising that provides marketers with a better chance of targeting the right audience at the right time. In-app advertising can help you bring in the cash when you are offering a free app. There are five main types of ads that you can use including:
Interstitial- These apps take up the full screen and are typically placed during natural pause points (ex. after completing a game level).
Notification ads- These are often used in freemium apps and are slightly more intrusive than other ads because they send push notifications to a device status bar to keep the user aware of the ads presence. If users want to keep the app but no longer want the ads, they can purchase the premium version.
Capture Form ads- These ads rely on users to opt-in usually via email and virtually guarantee conversions. Developers can offer these users incentives such as points, tokens, leveling up, etc.
Advanced overlay- These are interactive ads that require users to take action by signing up for a service, downloading an app, buying a product, etc.
Banner ads- These ads function in mobile apps just as they do on websites and are the least effective.
In essence, you’ll want to choose the ad model that won’t disrupt the user’s experience or annoy them. For this reason, when it comes to making your in-app ads future choice, banner ads should probably be avoided altogether as they can be distracting and highly irritating to users.
Freemium
This is a particularly effective monetization method for mobile games. Freemium mobile apps enable users to download the app for free but gives them access to only basic features. If they want the “premium” version that offers the full game or advanced features, they have to pay. Basically, users can experience the app and determine if they want to buy it with no strings attached.
