The fundamental reason for every company would be to earn cash and entrepreneurs try to discover all the possible ways to do so. From physical stores to the web and mobile, every beneficial selling way needs to be identified and dealt with so that the business can improve its profits. Mobile apps make a great customer touch point as most of them can be found on these devices. Now before you decide to hire a professional mobile app development company to help your company develop an existence on this channel, there is certainly a need to check out the economic aspects of the investment. In fact, banking your money on a mobile app will be useful only if you can generate revenues in return. Let us discover ways in which your business can make money with mobile apps :
In-app purchases
The last decade has observed an exceptional rise in business applications as sellers want to aid their business websites with mobile apps. These applications serve as a remarkable selling channel as customers love to access the sites and shop on the move, without needing to sit on their desktops for the same. Obviously, they can shop via mobile websites but applications provide shopping experiences which are much better. Apart from speed and comfort, it is convenient to check process which makes mobile apps score much better.
In-app ads
Another strategy to source revenues from mobile apps is by in-app advertising. By choosing this measure, your app becomes an affiliate tool that advertises the products of your affiliate. When a user interacts with these ads, you get paid for the same. The revenue model may be designed as cost per click (CPC), cost per view (CPV) or cost per install (CPI), depending on the terms agreed between the app owner and the affiliate. A majority of ad campaigns run on iOS and Android devices as these are the most popular platforms.
Subscriptions and partnerships
The app monetization game may be moved up by protecting sponsorship or partnership with a different brand. Owning a partner with the same client base can be an advantage for your business along with the partner’s business. This could extend the reach and develop reliability for each of the businesses during this time.
Email Marketing
By choosing email marketing since the money-making technique for your app, you may well ask the customers to share their email ids and later mail marketing messages to them. With more of this kind of marketing efforts, you may retrieve more customers for your business to make more money for it.
Mobile social sharing
Mobile social apps are a great choice for the businesses that want to maximize the power of social networking to increase their outreach. These types of apps motivate the users to spread the brand and its products via their social accounts. The business is, hence, capable to develop its base to make more cash without needing to invest much effort as marketing.
Freemium versions
The recent years have witnessed the dominance of the freemium model as an app monetization strategy. With this model, users can access a free version of an app and try its basic features before they graduate to the paid, premium version that comes with additional features.
Conclusion
Observing the substantial monetary advantages that mobile apps may carry, investing in them is an appealing scheme. Engaging a professional iPhone and Android app development company is the greatest action to take because it can help you control the customer base on both these platforms. HokuApps is a name you can trust for providing mobile app development services. Connect with us to get a money-making mobile app for your business.
I am an Entrepreneur, marketer, and writer. I would like to write in-depth guides and case studies that teach users to guide mobile application development to grow and scale there business.