- Go freemium with in-app advertising
This is the most widely adapted app monetization model today. App companies allow users to download the app for free and then aim to earn from in-app advertising. Several app analytics models are used to manage a data-driven, relevant advertising campaign within the app. When executed successfully, the in-app advertising strategy can earn you a lot of money.
- A freemium model with limited features
This is another one among the most trending app monetization models of the time. In this monetization strategy, your app is available for free download but some features or facilities within the app are locked. Meaning you provide users with free access to basic features of the app, but if the users want to access the premium features of your app then there is a price they need to pay!
- In-app selling of goods or services
If you are using the app to sell goods or services, you will straight away make money. Adapting to this monetization strategy, you can transform your app into a mobile friendly, virtual storefront which will work as another sales channel for your business.
- Subscription and sponsorships
There is a paywall feature many service based businesses use to earn recurring ROI. Using this feature, you can let your users view only configured amount of content within the permitted time interval for free; to view more, your app will ask them to sign up for a paid subscription.
Sponsorship, also known as incentivized advertising, is another strategy where you can earn from endorsing brands into your app. You can partner with several brands who will give in-app rewards to your app users upon some defined actions.
- Paid app download
This monetization strategy is also known as ‘pay per download’ model. Meaning users will need to pay a fixed price to download your app from the app store. Here, the revenues depend on the total number of downloads. Though there can be challenges to convince users to pay for the download even before they try the app, a well written description, reviews and a successful mobile marketing plan can stimulate the users to your app purchase.