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The process of leveraging an application’s user base and converting its engagements and actions into a stream of revenue is known as mobile app monetization. Mobile app monetization is a specific framework that defines how an app drives revenue and generates ROI-return on investment.

Now, the real question is how do you make money with an app? Many people come with unique app ideas and work on creating an app, but the money-making angle holds them back. Whether you are developing an app for the first time or making changes to the existing one, there are many different ways to monetize an app which we have highlighted in detail here.

How do I make money through an app?

Mobile applications need to be tailored to fully fit users need to have the maximum effect on your business. By implementing the right monetization strategy and choosing the right model you can maximize your app revenue. We have outlined the right app monetization strategies that will guide your business to acquire more profits.

The mobile app monetization strategies fall under two categories such as:

Direct Monetization:

The money generated straight from the app is known as direct monetization. When a user downloads an app from the Apple or Google store and pays for your eCommerce app, the sale comes directly from your app.

As the name implies, direct monetizing is simply the revenue you can make by applying winsome app monetization models that we will discuss below.

Indirect Monetization:

Among software products, indirect monetization is quite popular. One of the best examples of indirect monetization is independent digital products that come along with a free app. In such cases, the app is secondary, so you are going to make money regardless of the app usage.

This is a clever app monetization strategy of creating a mobile app to make the product look more alluring to the potential customers as it improves the user experience.

Also Read: How Market Research can help with successful Mobile App Development?

9 Effective Ways to Monetize a Mobile App

You did it! You made a fantastic app for your business, your customers are interacting and the data is impressive and helping you think about different ways to monetize an app.  App Monetization strategies can be implemented with a wide variety of customized features. But how do you turn your app into a profit-generating machine?

Here is a complete list of the most effective ways and mobile app monetization models that can help you accomplish it: 

Advertising

Digital advertising is a phenomenal opportunity for mobile app monetization as it dramatically improves the branch of communication between consumers and advertisers through mobile applications. This is because of the crazy amount of time people spend on their phones. Reports state at least 90 minutes a day which equals twenty-three days a year. So, how do you use this data to your advantage and monetize your app? There are typically three types of ads advertisers create such as:

Interstitial ads: Interstitial ads, also known as full-screen ads, are typically displayed in the flow of an app at its natural transition points between activities like moving across the menu.

Banner ads: Banner ads are a form of online advertising by an ad server usually found at the bottom or top of the mobile screen. They do have a tendency to irritate your users as they are more distracting than others, so you should give second thoughts before agreeing to banner ads.

Notification ads: Notification ads are displayed as pop-ups and serve the purpose of alerting the users of the app’s presence. While somewhat intrusive, push notifications are highly effective.

Rewarded Ads: Rewarded apps are one of the most popular ways of mobile app monetization as they increase advertising revenue. It provides an opportunity for the users to engage with playable ads in exchange for a reward within the app.

Video Ads: A video ad encloses online display advertisements that have video within them. Most of the video ads are bought, sold, and displayed programmatically by using various interactive elements and targeting methods.

Email lists

An email strategy for your app is an amazing way of getting more engagement from your app users. This engagement, in turn, returns to more revenue from your app.

Emails have a lifespan of 12 days and the most reliable way to get email addresses is simply by adding an email form to your app. This will mark as a real boost by prompting users to enter their emails, seeing it as a possibility of more significant benefits.

Continue Reading: Guide-to-app-monetization-strategies

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