Continual changing and evolving world of app ecosystem is a signal for developers to keep pace with the trends of app users, their downloading activities and approachable monetization models. Among consumers, freemium app is the most enjoying model which in turn becomes the most profitable pricing strategy for developers. But sometimes this profitable strategy turns into a non-profitable one. Many developers are facing such situation where their freemium models let them earn revenue for up to some extent, and after some time, it suddenly stops to generate the same results. When such situation arises, a perfect time comes to rethink about your current app monetization model. You have to conduct a large amount of market research related to targeted users, monetization models and the answer of questions: why users are not downloading your app? Why your app is generating less revenue? And so on. Here is how you should discover such. Where are your users?
Location of users matters much for monetization model you are using. Affluent countries like USA have more wealth to spend on apps, in-app purchases and others while less affluent countries like India tend to spend less on apps. If your target is less affluent countries, you must apply a monetization strategy that can work effectively to insist users to pay for your app. Android downloads are hugely noticed with emerging economies and if your android app is not performing well financially, you should change monetization model immediately to capture the market attention. Different Strategies for App Stores If your app is available for multiple platforms like iOS and Android (in most cases), you have to think for both in a different way. To earn the best possible revenue from both, Apple app store and Google play store – for each one you have to adopt a different monetization strategy. At the moment, App stores are driving a good amount of revenue from US and China. So don’t forget to localize your app accordingly. A Thorough Look on App Analytics App analytics is an important part of app marketing and monetization model. It will tell you where you are right and where you are wrong. It answers your lots of “why” questions in regards to your app. For example, if you are notifying huge downloads yet missing profit, the reason might be your paid upgrade is not as effective as it should be to force users to pay for. Or it may be that users are not happy with what you are offering them in return of their money. Whatever it is, app analytics will tell you such things, if you perform a thorough research on it. Consider reviews given by users for what they like in your app and what they want more to improve. Also have a look on keywords to know about does your app is really discovered, if yes, then how? If no, then try out some other common keywords. Don’t forget, to ensure that the app description is accurately reflecting the useful app features. Emerging Monetization Models To obtain revenue continuously, it is necessary to learn and implement emerging monetization models. At present, there are three monetization models newly introduced to the app market and considered as future winners:
Monetization is what you should plan out well from the beginning and maintain with emerging models to keep the continuous flow of app revenue. Keep your mind open for global markets and upcoming technologies to enable your app to perform well all the time. Address the needs of users with different platforms, and locations and keep them satisfied at maximum times. By following such steps, you will probably gain the best revenue from your app. Image Credit: androidmonetize.com
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AuthorAppN2O as a prominent app marketing service provider agency is thoroughly dedicated towards serving the finest app marketing and monetization strategies for your app. Archives
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