You have made an app that people like and are even sharing it within their own networks. But is the app getting you as much revenue as you expected? Recent developments in technology have revolutionized the ways of app marketing and opened up many new avenues to generate more money from your app. Follow this guide and maximize your app revenue with these few tips given below.
The first step to maximizing the revenue from your app is to make sure it is noticed by as many people as possible in the defined target audience bracket. According to research, today most time spent on mobile is spent on apps. Take advantage of this fact and advertise your offering on other apps that are already doing well. Loyal users of those apps will be highly likely to give your app a try as well, as long as you are able to make a convincing ad. Consider video ads instead of the traditional banner ads to garner more interest and attention.
You can also engage in app optimization techniques to boost your app listing on the app store which is likely to result in higher installs and thus, more revenue.
Offer In-app Purchases
Instead of cluttering your app with annoying advertisement banners just to maximize your revenue, you should consider offering valuable in-app purchases. Not only will it better the user experience and delight your customers, but also keep them engaged for a longer time. How? Offer purchases that help the user enhance his app experience even further. For instance, if you have a game app it may help to offer an instant level-up for a small amount. Thousands of users who are stuck on any one of the levels may seriously consider buying a level-up to get ahead in the game. Similarly, a guitar-learning app can offer its users bonus song lessons for a small fee. The trick simply is to target your users well by identifying their needs.
Have a Clear Marketing Plan
Many app developers make the grave mistake of spending all their budget on a simple ad campaign. The truth is no matter how much research you put into making a campaign, there is always a chance that it may not perform as per your expectations. Therefore, it is of utmost importance that you draw out a long-term marketing plan with room for small failures here and there. The best way to go about this may be to hire a professional advertising agency. But remember to share with them all the key insights that have gone into developing the app.
Analytics is a Must
Your job does not end once a user installs your app. You also have to ensure that he uses the app for as long as possible. But how do you ensure long-term interest of any user in your app? By gathering and analysing user data. Identify what features are the most used on your app, and which are performing the poorest.
Observe the time of the day when users are most likely to use your app. The answers to these questions can help you unlock the true potential of your app by incorporating small changes as per user preferences. After all, any successful app relies on great user experience to keep its user base intact.
Feature Videos Inside Your App
This is a highly effective way of maximizing revenue from your mobile app. There are many app monetization platforms available now that can enable your app to display video ads of third party apps on-demand to your users. But don’t force these ads down the throats of users. Instead, give them incentive to watch the entre ad by offering a small in-app reward at the end of the video. This way, not only will people watch the ads voluntarily but also spend more time on your app as long as the rewards you are offering add value to their app experience. You will get paid by the apps you advertise depending on the final click-through rates achieved.
Even if you design a great app, you won’t be able to maximize its revenue without taking extra steps. To make the most of your good ideas and hard work, you must have a solid plan. Stop waiting and maximize your app revenue with these few tips today.