How to make money with your new app

Research shows that more and more internet users think mobile apps are better than websites. They offer convenience, speed, rewards and personalized content. Not only that, it’s more fun. What’s not to like?

With increasing demand, companies have started launching new apps to generate more revenue and customer retention. But how can you make money with your new app?

Influencer marketing

Influencers are people with a charitable following on social media. They are often experts in their niche and are therefore a great way to reach a specific audience. With influencer marketing for apps, you can increase brand awareness, achieve long-term partnerships, easily reach your target audience, and gain more users. All this leads to one thing – making money.

Working with an influencer during the launch of your new app can help build awareness and get people excited about your business. Whether you start your influencer marketing campaign with a pre-launch promotion, app launch, or post-launch promotions, there are benefits at every stage.

If you do your research, set your budget, and choose the right influencer for your niche, influencer marketing can be a powerful strategy to monetize your new app.

Advertisements

The most common (and easiest) way to monetize your new app is through in-app advertising. Showing ads in your app is easy and means you get paid from third-party ad networks. This usually only happens when a user clicks on the ad or installs the app that ran the ad, but some networks also pay! There are 4 types of ads that can be displayed by your app:

• Interstitials – Full-screen pop-ups that appear at different times, for example after pressing certain keys
• Banner ads: It is displayed in different sizes at the top or bottom of the application screen
• In-App Video Ads – It appears automatically and serves as a reward for the user to get more features in the application
• Native Ads – Integrated to appear as natural elements in the application to promote a product or application

Although ads are a great way to monetize your app, it’s important to note that this model is only effective with apps that have a lot of users. For smaller applications, other models may be more suitable.

Subscriptions

You can increase the amount of money you get from it by implementing a subscription and updating models to your app. Subscription is good for recurring revenue and thus considered as the best and most useful app monetization strategy.

As part of the subscription model, users can choose to offer free content within the app for a limited period of time or a limited amount of free content before allowing users to pay a subscription fee to gain full access to the app’s content.

Subscription models are a great way to monetize your new app. It brings more reliable income and a more engaged audience. The Apple Store rewards the app with a higher revenue share to keep its customers longer! However, it’s important to note that a free trial period is a must and that continually refreshing features and content for app users is essential to increasing revenue for your subscription-based users.

In-app purchases

Popular with game publishers in general, in-app purchases are a great way to monetize your new app. This model allows your users to access a variety of popular in-app purchases for games, music, movies or other digital goods directly from the app, which in turn improves the user experience or gameplay. However, in-app purchases must not be used to sell physical merchandise.

Implementing an in-app purchase model is an exciting way to convert non-paying app users into paying app users without a payment commitment. Although because of this you have to keep your users paying!

Sponsorships

Although less used than other monetization methods, sponsorships are a great way to monetize your app. With the right application for a targeted niche, sponsorships can be a powerful model.

App sponsorships are more unique than other types of advertising because they are smaller than traditional banner ads. Instead, sponsors may be interested in exchanging a fee for a prominent spot to promote their business on your app. It should be noted that a key enabler of the sponsorship model is analytics data. To get an app sponsor, you need to be prepared with solid data to sell your sponsor’s value using fact-based results.