Nibletz Staff
Way too many small and medium sized businesses believe mobile apps are exclusively reserved for the companies at the top of the food chain. But that just isn’t the case. In the same way mobile-friendly websites were once the must-have asset for a business determined to grow, having a native app developed for you is a phenomenal weapon to add to your arsenal.
With an app, you are able to interact with your customers in a way that was possible before. But that isn’t all because the data you can extract through an app can help your business in two major ways: marketing and monetization. Yeah. An app isn’t just a trend you should follow for the sake of following, it is a serious way of boosting your revenue.
The big question that is probably now whirring away in the front of your brain is how. So, to enlighten you as much as possible, we have come up with some of the best ways you can turn your app into an unbelievable money-maker.
Advertising
One of the most prolific ways of adding an income to your operations is through mobile app advertising. Banner ads, notification ads, advanced overlays and capture form; these are all types of ads that are frequently used in apps as a way of offering the app for free while still generating a profit. To maximize this even further, by using a real-time bidding exchange, you can get your inventory or advert in front of the highest-paying source. Double-whammy.
The more engagement you can encourage from your customers the more likely they are to spend money. That is why you should try and include an email strategy into your app. Even in this day and age of social media, emails are still the most effective form of engagement. The reason is, Facebook posts only lasts two hours and Tweets about an hour. Emails, however, have a lifespan of around twelve days. That is why you need to speak to your development team right now and have the include a subscription form whereby they have to enter their email address.
Freemiums
Another option available to you is to create two different versions of the app; a fully-functioning and all-inclusive version, and a freemium version. The way this works is users will opt to download the free version so that they can get an understanding of what this app can do for them, kind of like a teaser. Once they realize how this app can benefit their daily life, they will then be far more likely to pay for the complete version that offers a more rounded experience.
Data-Driven
Data offers an incredible chance to target those users that are spending the most amount of time and money on your app. By focusing your efforts on them you will be able to reduce the amount of resource you waste on acquiring new users. This is an important thing to understand when trying to monetize your app because a lot of new users don’t tend to revisit an app more than once. So by knowing who you are engaging with you can better mine them for money.
