Optimal mobile app monetization models
You can increase revenue with a flexible monetization strategy designed to meet the requirements and needs of users and their location.
The combination of several models usually gives the best result. Users may have different attitudes to paid applications, in-app purchases, subscription, advertising and electronic commerce, respectively, their loyalty to a particular innovation must be checked directly.
Monetization Strategy Guidelines
Learn about applications from the category to which yours belongs. Perform a market analysis and get an idea of how other developers make money on their applications. Consider which payment options might be loyally accepted by your users.
Think about how users will work with your application: this way you can offer them the most beneficial payment option for both of you. The frequency of use of your application will determine the effectiveness of monetization through purchases or advertising. A widespread way to make money on the application is the offer to buy its full version – without advertising.
Try different solutions: if the functionality can be expanded (for example, add new levels in the game), we recommend making the base part free, and selling additional functions through the store or on a subscription basis.
Think over the cost structure in your application. If users regularly spend a certain amount on your content, you can implement a subscription system. To attract new users, offer them a free demo or a free trial.
Consider the features of the audience. For a certain circle of users, advertising, subscriptions and in-app purchases are not always suitable. For example, in children’s games, users are more likely to pay for the lack of advertising. In such cases, users are better off offering non-ad versions of applications.
Set prices based on the characteristics of the target audience, based on statistical data. Set prices for applications, purchases in them, as well as subscriptions based on the standard of living, the specifics of pricing, the cost of similar applications and other factors in the target country.