In a tech-dominated routine, the way we perceive things and conceive our reality has changed.
Now, it’s easier to click to access or benefit from something at any time. Time and distance are no longer excuses when the solution is on your phone.
One of these technological solutions is mobile app. Nowadays, we use banking apps, clothing apps, music apps, and TV apps. There’s an app for almost everything.
This means that the way to generate revenue has also changed. So, this can be a business opportunity.
App: a journey to monetization
While developing an app may be quite straightforward, generating revenue through this technology requires not only development. It also needs a strategy. Also, thinking about the user experience, and developing a sustainable business idea over time.
Now you might be wondering, “How can I make my app sustainable?”
First of all, your strategy will depend on the industry it’s aimed at.
Today we’ll present some of the most commonly used strategies that can apply to almost all economic sectors.
The freemium model
Almost all the apps we use today have a freemium model, like Netflix, Spotify, or even YouTube.
This model combines free and paid features within the same app. In other words, users who upgrade to a paid version can access an unrestricted experience.
So, you attract more audience and, at the same time, generate conversions because you provide unlimited benefits.
Affiliate program, a profitable strategy
New opportunities for partnerships with other companies or products will be the key to creating an affiliate program.
It is based on the idea that you can promote other people’s products or services and earn a commission for the conversions generated through your application.
Subscribe to access more content – Have you heard this?
Today, it’s one of the most popular formulas, theoretically functioning as a ‘win-win.’ If your app offers continuous content or services, this is an option for monetizing it.
Your subscribers can pay a fee to access exclusive content, which can be monthly, annually, or semi-annually. It all depends on what your app offers in terms of products or services you want to provide to your subscribers.
This model is also a way not only to generate revenue but also for customer retention.
Display an ad and monetize
Advertising within apps is one of the most common methods to monetize. The idea is to display ads while users are using the app. Additionally, you can earn money for each click or impression.
This model requires caution. It can be a bit intrusive and annoying for the user. In the end, the ideal is to maintain a positive experience for those who download and use your application.
These are some of the most common ways to monetize your app. During the journey, you can adjust your strategy according to your objectives and make your app sustainable. You now know that monetizing your app is not a complicated process. – just develop your idea and create a profitable business model.
