Mobile App Development cost you a lot, but it has a potential to let you earn a lot. Lets check some mobile app monetization strategy that let you make money from App.
Every year businesses set a new milestone for the growth and the same goes for the mobile app business. If you are thinking about making money out of your apps, you need to think in the direction of mobile app monetization strategies.
So, here we are to discuss the top mobile app strategies which can definitely generate revenue for your app business.Data monetization
When it comes to mobile app monetization, data monetization is considered as one of the non-popular ways. Today everything is data-driven and in such a scenario, data helps in building the right direction for developing the business or working on to improve the existing products and services.
It is possible to get hidden insights about the customers by making use of quality data of users. Whether the business is online or offline, such valuable insights can be used to improve the business which can in turn work towards getting increased revenue.
Now, this is the scenario where the role of app developers becomes prominent. With people spending hours and hours on mobile apps, mobile app development tend to become a great source of accessing the data of the users. Still, you need to know that simply user data is not all about app monetization.
Mobile app monetization goes through collecting all the data then, segmenting and transferring all the information which does not reveal any personal information about the users to the data collectors. Data monetization has nothing to do with the personal information of the users. When collecting such data, the identity of the user stays unrevealed.
Some of such kind of data which gets collected from the users is:
In the case of mobile app monetization, the need is to have non-personal data collected from the users and so the collectors are always looking for ways to have them in bulk. The larger the amount of the data is collected in this manner, the clearer the insights become. This is for the same reason why the apps which have a large number of DAU – Daily Active Users, tend to have increased demand among the data collectors.
So when you look at the scenario from the data monetization perspective, you will understand that it is quite simple. The more the number of users the app has, the more amount of revenue it will generate. So if your app has less than 10,000 DAU then you should work towards increasing and expanding your user base. Once your app reaches 50,000 DAU, then you should plan to build data monetization SDK and let your app start making money for you.
You can follow two ways to make money from your app:
There are some companies which work as intermediaries. These companies are already partnered with research institutes, telecom companies, marketers, global brands, etc.
Another way is to send such data directly to the data collector. To begin with this process, you will need to find trustful companies who are in need of such data for their business. You can then implement their SDK in your app. In this kind of arrangement, you will get to make more money if you have more number of data collectors signed up.
Whatever medium you plan to choose, you need to have one thing clear in your mind that collection of such data for app monetization needs the consent of the app users. In order to gather data, you will always have to ask the users for their permission. You should always work towards coming up with a consent form for users and add it in your code. This way a pop up will show up when the users will open up the app and they will get to decide whether to share the data or not.
The best thing about mobile app monetization is that you don’t have to keep on monitoring and optimizing the process.
With time, the amount of time the users spend on the apps has increased enormously and so it can be considered as one of the most effective ways to make conversions. After brands and advertisers have revealed that inventory in apps performs well, in 2018 they moved to make investments from web to mobile apps.
One of the studies says that spending on in-app advertising will triple in the years and by 2021 it will reach $201 billion. With increased investments coming from advertisers, it is expected that by 2021 the app industry will turn out to be the third biggest economy on earth. This will increase the efficiency of monetizing mobile apps.
Among the targeted audience, the in-app traffic is said to bring in increased user engagement. This is the reason why more than web traffic, CPMs for in-app impressions are costly.
Even though in the digital market mobile app advertising is not a new thing, there is a continuous evolution going on in this industry. Again, the same thing is happening with different ad formats.
The in-app users do not like the idea where they are disturbed from what they are doing. This is the reason the advertisers go for high-paying non-intrusive and native apps. In order to perfectly suit the app environment, native ads go for a customized design. This turns out to be a source of ever-growing chance for mobile app monetization that too without affecting the user loyalty or UX.
Smart banner is the new ad format in the market. The standard mobile banner has been upgraded to the smart banner. What makes smart banners better than the old traditional ones is that they are capable to dynamically adjust with the orientation and size of the mobile screen whereas, the old ones come with a fixed length, height, and width.
Based on the study of IAB, around 50% of the advertisers are going to get ahead with making investments on mobile video, digital video, and Advanced TV. The fastest growing video format is mobile video. When you compare the different mobile videos out there, you will find that rewarded videos have been doing the best in 2018.
People tend to spend more time on the app if you offer them in-app rewards in exchange for watching ads. So for the same reason, the in-app revenue that is coming from the ads has increased and the mobile app monetization has grown. It has to be said that the in-app activities of the user do not get interrupted by rewarded videos and the user gets to decide whether to watch it or not.
Some tips to consider when you plan to have ads for the purpose of mobile app monetization
Mobile ads are said to bring in amazing revenue and you always get to choose which ad units you can have in your app and how many ads you want in there.Just be sure you are putting optimized efforts in this direction.Reconsidering the effective old in-app purchases
If you are not planning to go ahead with ads, you can go for in-app purchases which are definitely the old and tried mobile app monetization strategy with guaranteed results. With in-app purchases, you can have some items included in the app for sale. You can include items like virtual currency, extra life or even some exclusive features which the user gets to use within the app.
Freemiums ad subscriptions are also the kind of in-app purchases which we usually get in our Android smart phones. In case of freemium, you can offer a ‘free to install app’ to the users and then once they like it, you can offer them a premium version for the upgrade. This kind of apps is found in large numbers in the market and some of the examples are Tinder, Spotify Music, and Evernote. As per Statista, by offering an upgrade to the Plus and Gold versions to the users, Tinder managed to earn around $37 million in last November.
As a part of mobile app monetization strategies, subscriptions are applied to the app. It can be for fitness apps, audio and video streaming apps, cloud services and online magazines. The in-app purchase ratio is quite low today. You may feel skeptical when going ahead with this option and charging your users. You need to know that the amount charged is very low on per user basis. For the mobile app developers and businesses, the main challenge is to spot a user base which is solid when it comes to making regular in-app purchases.
No doubt in 2019, mobile apps are definitely going to be a great source of income for developers. This is the right time for you to work on your mobile app monetization strategy, refine it and make money out of it. You can go ahead with any of these mentioned strategies or even go for all the three of them and start making revenue out of your apps.
We are leading ecommerce mobile application development company. Hire our ecommerce mobile app developer for your custom Ecommerce project at competitive rates. **Know about [Top ECommerce Mobile App Development...
We are leading ecommerce mobile application development company. Hire our ecommerce mobile app developer for your custom Ecommerce project at competitive rates.
Know about Top ECommerce Mobile App Development Company
The brilliant technology some of the most innovative apps like UberEars, Instagram, Airbnb is something you must have heard about. Well, React Native is the one which is the technology behind it. It has been chosen by some of the most trusted and...
The brilliant technology some of the most innovative apps like UberEars, Instagram, Airbnb is something you must have heard about. Well, React Native is the one which is the technology behind it. It has been chosen by some of the most trusted and popular brands all over the world for their mobile app development. Now, every React Native app development company providing their services to React Native development to a plethora of clients, thanks to the humungous popularity of this technology.
Hence, if you are thinking to go ahead with React Native app development, there exist few aspects to consider. For the purpose of your next mobile app development project, as well as choosing React Native development, you must know the need to hire React Native developer and how to successfully and effectively do it. However, hiring such developers for the purpose of custom React Native app development is quite a difficult job. But, let’s have a brief discussion on this highly-advanced technology.
React Native applications have a modular architecture and are much more stable. It essentially allows the developer with improved coding and offers pre-loaded elements. Also, it is well-suited for the purpose of cross-platform development since it offers stability as well as budget-friendly solutions that have much better as well as optimal performance.
In order to hire a dedicated full-stack react native developer, you should check the following aspects and qualities in the candidate. Some of them are:
2. Specific Experience in Native iOS and Android Development
Of course, there are situations where the react native developer has to work with different native tools. Hence, if he or she is familiar and in the best-case scenario, experience with native iOS and Android development, then it will certainly an additional benefit. So, hire React Native developer who actually has been involved in these developments in his or her previous projects. He should also have experience in Microsoft application development.
3. Backend Skills Expertise
In case you want to custom code the complete mobile app backend, you have to finalize a certain backend programming language at the start. This will offer you with clarity of the entire process of how to hire React Native developers. Think, you want to develop the mobile app backend using Python. So, the developer has to be knowledgeable in core Python language as well as any of its popular frameworks like Django along with development/customization of RESTful APIs, and finally, object-relational mappers (ORM) and the database with frontend skills like CSS or even HTML.
4. Impressive Debugging Skills
For every development process, there is an associated mandatory process of detection along with fixing of bugs and errors in the code. Hence, ensure that the React Native developer you hire has the inherent capability of resolving these issues.
5. Seamless Communication Skills
For a React Native developer, it is essential to have strong communication skills. A mobile app development company should go with the developer who is well-versed with the technology as well as has impressive and seamless communication skills. A developer who has impressive amazing skills easily adds more value to the mobile app development project. Also, it assists in communicating the project progress with the clients and regularly informing them about the different project development aspects.
Mobile apps have certainly become an essential and integral part of people’s daily lives. Hence, it has increased the demand for these apps, and mobile app development services look for frameworks that assist in the development of robust mobile apps. Pertaining to this, React Native has emerged as the best framework for not only iOS but also Android app development. React Native app development has grown proportionally higher than any other framework based development due to easier access to plugins and libraries which assist in entirely soothing and streamlining the entire mobile app development phase. However, to achieve this, a company needs to hire React Native developers who have the above-mentioned qualities and skills.
Mobile app development has skyrocketed over these years with the increasing demand of mobile apps for a variety of purposes like entertainment, banking, weather update, health, booking movie tickets, booking a taxi etc. With the latest...
Mobile app development has skyrocketed over these years with the increasing demand of mobile apps for a variety of purposes like entertainment, banking, weather update, health, booking movie tickets, booking a taxi etc. With the latest technologies adopted by mobile app development services, there are different app development approaches which are being practiced. Among them is low-code or no-code development. But will it be the future of mobile app development? Will any mobile application development company start taking this approach as the primary one. Let’s try to find a detailed answer to this question.
But first, let’s understand what this approach exactly is? Well, it is a streamlined approach which involves swift design as well as development with minimal coding, generally relying on different third-party APIs.
Even though there isn’t any single definition of no-code or low-code development because it is actually more of a mindset rather than something which can be directly measured, this mindset has certainly led to a vast community mushrooming up with this mentality. Android app development services are rapidly adopted by this approach. Low-code app innovators are rapidly disrupting all types of various industries. There are a plethora of benefits to these low code platforms and let’s look at this.
1. Less Number of Bugs
It is pretty evident that less code actually means fewer bugs. As simple as that. The entire bug testing phase is actually a major part of modern and latest application development. It is quite inevitable that various issues will come up if there is actually enough code present there. But the best thing regarding low code platforms is that there’s certainly less to test. Also, when they actually tap into APIs, those particular APIs are actually tested by other people.
Lesser number of bugs is better for both users, as well as developers since less amount of time, will be taken up with bug-fixes and troubleshooting. Also, the fast pace of this development approach actually means that if in any case a bug is found, it is generally better just to develop a new iteration rather than fixing it.
2. Significant Lower Costs
Among the most obvious reasons for why you would actually opt for any low code platform is that in reality, low code results in lower cost. Low code development leads to faster app development which saves a lot of time and as a result, lower cost.
It's not only good for companies but also for developers. It certainly cut out the intermediaries, and while they charge less, they use fewer resources and finally come out on top. It is fun for developers because it stops them from actually finding themselves stuck on one particular project which seems to last forever. This is why most of the companies hire app developer who is a well-versed with low-code development.
3. Better Accessibility
The lesser amount of code an application uses, the lesser bandwidth is needed to download it as well as run it. This is quite good news for the people who are based in rural areas or in different developing countries where access to the internet isn’t as prevalent as Western countries. Also, as low code applications can easily be created quite easily than a traditional app, they can easily be released much more swiftly and at a much lower price, and sometimes for free. iPhone app development services follow this approach because it will help in increasing the uptake of their apps as it reduces the entry barrier for every person from lower-income families.
Innovative Development Approach
Among the most promising instances of a low-code or no-code platform is Uber. The apps tap into Google for Maps, Dropbox for storage, Braintree for payments and much more. The most interesting thing about this is that app programming interfaces of APIs which Uber actually relies upon are easily available to anyone who wishes to use them. Uber took those APIs and then used them to create, which was new without requiring to develop each of those particular individual elements, all by themselves. They developed their own brand on top of it by means of looking at how they could actually differentiate themselves from the rest of the others. Mobile app development services should follow this example to create their own low code mobile app which disrupts the market.
The best thing about this is that it inspires innovation. At present, the marketplace actually decides, and only the best applications rise to the top. Also, low code development easily allows developers to iterate much more quickly and can aim for higher more.
The Role of Artificial Intelligence (AI)
Artificial Intelligence is certainly making big waves in different businesses, and as this technology improves further, it will find its way in different other uncharted areas. Among those areas is the low code app development, where it comes in quite useful for a wide range of tasks and actions including the integration of various data sources or just making sense of an entire unstructured or semi-structured data.
Artificial Intelligence is quite great at analysing and conducting trial and error. Hence, it won’t be quite long until the usage of AI becomes quite a standard part of the low code app development. A mobile application development company can find ways to reduce the total amount of code that it is using through AI and flagging potential and possible improvements.
It is quite certain that low-code or no-code app development is the future of app development for one of the simplest reasons that it is quite easier as well as faster and efficiently uses time. It actually doesn’t matter whether Android app development services or iPhone app development services are on-board with this particular change or not. This is quite inevitable as this approach is the path of least resistance. Also, as the inherent demand for low code platforms keeps in growing, developers will certainly find themselves to adopt it.
It is quite a great news as it will push the developers of mobile application development services to become the best. Also, there won’t be any time to redoing it to create the same thing, or any room for sloppy code as well as lengthy development processes which makes the mobile apps redundant even before they are actually finished. Hence, low-code or no-code development will certainly lead the future of mobile app development, and mobile app developers certainly have to get on the bandwagon, one way or the other.