Mobile apps spell convenience and luxury to the customers always. When, as developers, we offer our customers, apps that have been built with substantial monetary investment, we always expect an equally substantial return of investment in the form of downloads. There is a scale tipping 209,370: 2,204,713 ratios of paid apps and free downloads that grace the market with their strong presence every day. However unsettling the numbers are, against paid apps, they do the rounds occasionally as there are really good utility apps that are worth paying for.
Downloading application after payment was the first method that was devised of, in order to ensure returns on the investment. This technique is a tried and tested method by offering a trial version of the app. This gives the user, enough time to make up his mind whether purchasing the app is really worth it. However, there are many pitfalls associated with it like
- No assurance that the user will purchase the app
- Two versions for the store is a lot of work for the developer
Moving on, the next logical step is to create advertisements that would pop up while browsing or while using other apps. Usually, mobile advertising works in the pay per click strategy. However,
- It is difficult to peg an income from these ads.
- Might alter the user experience in slow loading of page
- Not focused entirely on target audience.
Nowadays, with the app trend focusing on the gaming industry, there is also an equally costly investment made for the UI/UX. In such situations where
- The app cannot be made a paid one, as users might move on to downloading free game apps
- The app’s UI and UX cannot be compromised on
the ideal solution can be to integrate in-app purchasing of game related goodies or points that would give the user some kind of incentive. This is a sure fire method that assures revenue increase. On psychologically understanding a user’s mindset, the general inference is that, users do not think twice if they have to purchase points or game related tools for a nominal amount that is not going to burn their wallet.
This solution has many advantages:
- Increased download rate
- Referrals to download
- Purchase process is secure and quick
- Non invasive pop ups that are triggered ONLY when the user is at the point when purchase is a solution
- 70% of the revenue goes to the developer and 30% to the billing platforms.
Today, this solution has picked up momentum and many apps of various categories use the billing channel to offer nominally priced goods that would enhance the user experience while using the app. There is a whopping 31% of developers who swear by advertising through partnership with retail brands related to the service that their app offers. Offering incentives upon completion of a challenge is a great idea that has a good reception with millions of users. This plan works for many because:
- Developers have a clear idea on where all to add incentive triggering activities.
- There is a clear list on what to give as incentive and mark out activities that when completed will trigger the incentive demand
- The entire incentive-strategy can run discreetly
With an estimated 268,692m download rate for apps predicted for 2017, monetization in order to measure the returns becomes part of the mechanism. In the past, monetization has had tremendous transformation all these years and has vastly affected the way developers see as the return of their precious investments. Swimming against uncertainties of successful downloads and purchases, app monetization acts as the buoy ring for developers to keep themselves well above the dark waters. This post is written by doodleblue Innovations, a mobile and web app development startup based in New York and India. More details at doodleblue website.