Today, mobile devices such as smartphones and tablets are the most popular way to access the internet. Last year alone, over seventy percent of all digital minutes in the United States and Canada was spent on mobile phones.
If you’ve been planning to develop an app or already have one, this is excellent news because you have a wonderful opportunity to reach out to a lot of people who could be interested in.
But once your app starts gaining downloads, how can you start to gain money? That’s what we’re going to talk about in this article.
Here are the top strategies to increase your mobile app revenue:
Set A Price To Download Your App
This is the easiest way to make money with your app. However, it’s also something you should avoid doing when you first make your app available.
Once your app has been posted to Google Play or the App Store, your number one goal should be to get downloads. And it’s always easier for a free app to get downloads versus one that costs $0.99 or $2.99.
Only once you start directing traffic to your app and getting plenty of downloads consistently is when you should set a price to download it. Either that, or you can keep the app free and use it to direct traffic to a second app that costs money to download.
Include Paywalls In the App
Another strategy to earn money could be to keep your app free but require users to pay for premium features.
This isn’t anything new since numerous app developers use this system already to make money. But if people like your app and find value in it, they should be willing to pay for extra features.
Leverage Your Existing User Base
You can also use your existing user base to make money. If you set up an app referral program, you can leverage that base to direct their friends and relatives over to your app.
This will not only extend your outreach and number of downloads, but the more people who are coming to your app also means you’ll naturally increase revenue.
The trick is you need to give your users an incentive to refer their friends or relatives, and one of the easiest ways to do that is to reward them points or free features that normally cost money.
Use Video Ads Over Banner Ads
Ad revenue is another popular way to make money with mobile apps, but the truth is that most people find banner ads in particular to be rather annoying and it can cause them to delete your app.
In contrast to this, people find video ads to be far less annoying. We know this because the click through rates for video advertisements are over seven times greater than they are for banner advertisements.
In fact, video ads currently account for over half of total mobile app revenue. For these reasons, video ads could possibly turn out to be the easiest way to make money with your app.
Increasing Your Mobile App Revenue
Once you start driving traffic to your mobile app, making money with it shouldn’t be difficult if you put each of these strategies to good use.