How To Monetize Mobile Apps
by 
Monetizing your mobile app is probably the most difficult part of creating a successful mobile app business. The focus on monetization should begin during the business planning phase before you even write your first line of code. There should be natural, apparent, and proven ways for how to make money from the mobile app you are planning to create. Having said that, the best time to put most of your focus on monetization is when your app begins to consistently get many downloads. If your app has many downloads, that is when you are going to be able to make any kind of significant revenue from it.
Should An App Be Paid Or Free?
The trend for mobile apps is to be free. More and more apps are free, and the app store ecosystems are geared for apps that are free to get more exposure, and ultimately win. Just imagine, if you are scrolling through apps, are you going to try the free ones first, or the paid ones? Nearly all consumers first try the free option first, and rarely get to the paid option. When you have a free and a paid product next to each other, most consumers gravitate towards the free offering first.
Most apps today (and increasingly so in the future) will be free and operating under the freemium business model.
Making Money With Mobile Ads
No matter how you spin it, your users will dislike (or sometimes hate) the ads that you put in front of them. And if users hate your ads, the reviews they will give your app will be a little worse than if your app did not have those ads. That is just a reality of monetizing your apps.
If you decide to use ads, you can use banner ads, interstitial ads, ads to download other apps, or in-content ads that don’t look like ads, but rather look like your own content. The ladder two are my favorite strategies, and ones that I recommend if you decide to publish ads on your app.
Making Money With Affiliate Products
You can sell products made by other companies, and earn a commission. That is called affiliate sales. For example, since my apps are made for entrepreneurs, many entrepreneurs need websites for their businesses. And it is a very natural thing for me to offer them services like website hosting. It is something they need, and appreciate it when I make a good recommendation. And at the same time, I get a commission for helping people It is a win-win situation.
Making Money With In-App Purchases
Android and iOS platforms allow for in-app purchases. Pound for pound, the best in-app purchases are subscriptions because they aren’t just one time transactions. If a user stays subscribed to your service for years, that user can ultimately bring a lot of revenue to your business.
The biggest challenge is making sure that whatever in-app purchase you offer, it makes sense for your users, and is something they really want or need. If it isn’t something they want or need, they won’t buy it.
Making Money Selling Your Own Products
In the case of my apps, I sell my online courses, my books, and my coaching services. People don’t mind it as much because I don’t sell them via blatant banner ads. Plus, my books and courses teach people how to start and promote their businesses, so they are very relevant to what the users got my apps in the first place.
Mobile App Marketing Book And Course
This tutorial is just one section of my mobile app marketing book. Check it out on Amazon. It is available on the Kindle which means that you can read it on the Kindle app of any smart phone. Or take my mobile app business course on Udemy.
by