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How to turn your idea into profit: monetize your mobile app

iphone apps moneyTurning your app into profit is not only about developing a great idea! You have to think about how to monetize it.

To get money out of your mobile app, there are various methods to monetize it, and most of them can require additional development so make sure you make a decision about your strategy before starting building your app!

These are some ideas of how to monetize your app:

  • Paid App: Charge for its download

This is the most direct way to generate revenue from your application. Costs for downloading an app that is not free usually vary between $0.99 and $9.99. Make sure your price is aligned with your competitors’ prices and the customers’ demand. And keep in mind that Apple takes a fee on this revenue (30%).

To make more profit, you can also applied some other methods below.

  • In-App purchase

You can charge the user for addition content, additional features and upgrades (like removing the ads for example) to offer a better and richer experience while using the applications.

 

  • Advertising inside the app

You can place ads to indirectly make money out of your application. The most common methods of advertisement are selling a space, a PPC (pay-per-click, the advertiser will pay when an ad is clicked) or a PPI (pay-per-impression, the advertiser will pay when its add has 1000 display views for example).

 

  • Mobile commerce

You can redirect from the application to a mobile e-commerce website so users can buy your products.

 

  • Subscriptions

You can set a fee to access to your content, like magazines do.

But to make all this successful, your need first to attract people and rise their interest. This is why marketing your application is really important. There are millions of other applications in the app store so even if offering a good idea is a key of success, but you will need more than that to generate downloads! You have to put efforts, time and even money in marketing your app, at least for its launch.

Stay tuned for next week topic: 

How to turn your idea into profit: market your mobile app

 

 

Do you want to take your mobile app idea to the next step?

It is better to limit the number of third parties to save time and avoid communication issues. At Visual Link, we have in our team developers, graphic designers and marketing specialists that work all together so we can help you formulating your ideas into a development logic and we can then handle the entire process of building a phone application and even help you promoting itSend us an email or give us a call on 02 9565 2884!