Virtually every application can be monetized, otherwise, why would they be developed in the first place? Surely, when you have spent money, time, and effort, you want to get revenue. What is the best way to do that? There are several strategies for Android and iOS apps monetization and below we discuss them in more detail.
Strategy 1: obtaining money from advertisers
First, let’s determine who an advertiser is. This is a person or a company, that is going to pay money. They have an offer (a product or a service) that they need to advertise, and they are looking for ways to do so. The easiest option is to join a programmatic advertising platform and get hold of a large number of promotion spaces. You, as the owner of your app, are also registered at the advertising platform, however, you are on the other side: you offer the space (supply) which is going to be paid for and used by the advertiser (demand).
Strategy 2: obtaining money from users
This is also a popular model, which has several configurations.:
- Paid download – not very popular in games, but still viable for some well-known apps.
- Paid additional features. Do you want to get to the next level faster or enjoy more powerful ammunition? You can buy it.
- Subscription. The full content of the app is only available for subscribers, who pay a certain amount each month.
- Free vs Paid version. You are still able to use the free version, however, paying users get more.
Which strategy is better?
To begin with, models that presuppose payment from the user’s side are becoming less and less efficient. It is mostly because users are always able to find a similar product for free. This is why it is better to turn to monetization via programmatic advertising. Here, you do not risk anything. Users enjoy free downloads, watch ads from time to time, and do not pay for anything. You, as the owner, just offer your inventory for ad demonstration. The main thing here is to find a reliable programmatic advertising service. It has been proven that collaboration with a trustworthy platform makes it possible to see real revenue within a very short term.
