It is possible to earn a lot of money on mobile applications. The main thing is to choose the right monetization strategy which will let you get a stable income for a long time. What is the right way to do that? There are two options. The first is to make money on advertising, and the second is on users. Below we look at the better choice for iOS and Android app monetization.
Strategies for application monetization
The most popular strategies are:
- Paid download. This model is gradually vanishing but is still in use. It is very easy – you set up the price for the download of your app and obtain instant income with every new user. One huge advantage here is that it doesn’t work with gaming apps.
- Freemium presupposes payments for extended versions of apps, which lets the users enjoy a wider range of tools, which makes the game more comfortable. This is a good choice for games.
- Subscription is similar to the freemium model; in this monetization model, users pay a monthly fee for the extended version of the game. Can also be feasible for gaming apps.
- Paid content is the model where users are free to download the app, but they only see some elements of the interface. To get access to its content they need to pay.
All the above mentioned models mean obtaining income from the users. However, there is an alternative – monetization of Android and iOS apps via programmatic advertising.
Programmatic advertising – what’s that?
It’s a fully automated service that you can join both as an advertiser and as an ad inventory owner. You, as the owner of your app, are interested in the second option. You register with the service and your app is added to the catalog of advertising platforms to show the ads from the advertisers. It is a very convenient method as you do not need to search for the advertisers yourself; the process is fully automated and you have a chance to avoid monetization models that make your users pay. We also need to point out that such advertising does not annoy your users, since the service determines the target audience and they are shown the content they are most likely to enjoy.