06 Sep How You Will Monetize Your App? Paid, Freemium or Banner Ads
Mobile app monetization
Paid or Freemium?
In the planning of mobile app development, this is a common question that how the app will let you earn money? After spending hundreds of hours and money on the app development, if you are not getting any reward from the app then it is useless for you. At last, you need to cover the spending from the app revenue.
Here are two common ways you can monetize your awesome app and earn some bucks. You can offer a paid version where users need to pay some amount to install the app. And another way is by providing a freemium version where the user will able to install the app free but need to pay for some extra features in the app.
Which one will work for you? Let’s discuss both methods.
Paid Apps :
You can offer your app at some cost that users need to pay for install your app. this way you will get some earning on each download.
It is not that easy to earn from paid apps. You need to provide some solid and unique features that attract users and they pay for your app. Otherwise, users will find another alternative app that is available free somewhere else.
In the current market, there are thousands of similar apps you will find in each category. Your app needs to stand out from the crowd with a solid app listing and features list.
Premium apps are always providing some value to the users in a better way. And that’s why people pay for your app. You can provide two different versions, like with and without ads. Where you charge the user to use the ads-free app. App icon, screenshots, preview video, and your description will play a big role in the process of convincing the user to use your paid app.
How to Attract More Paid Downloads?
Remember, before paying a single penny, the user will check everything from your app listing page that includes the app screenshot, description, and user reviews also. If you will not provide premium features in your app, the user will give negative feedback and your app will suffer to get more installs from the impact of that bad review.
You can improve the in-store app presence by providing clear instructive screenshots. You can impact on users with kick-ass video presentation explaining the main features of your app and how it will help users to solve some problem.
Freemium is the way to provide the app at free on first. Users can install the app free. But then they need to pay for some locked features that can only unlock by pay for it.
In this way, you will attract more users as your app is freely available. Then you can provide some important features for free, so users stay using your app and some features you can offer paid, that users need to pay for use.
Make sure you are not locking all the main features paid, otherwise, the user will uninstall the app and you will not any way to hold them on the app and to pay for your app features. Users like free apps and they will give your app a try which is not possible in paid apps.
In freemium apps, if your features are awesome and useful, users will surely buy it. Take an example of photo editing and sharing app Picsart. You will get enough features to go back to the app and use it, and if you want more customization packs like stickers and frames you can pay for them from in-app purchase.
These way you can manage some earning and get inspired to produce more useful apps.