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App Monetization

Everyone wants an application that can make financial returns. To do so, you need to use app monetization strategies. We talked to our developers to further discuss what app monetization looks like.

App monetization is incredibly important, especially if the application is the primary component of the business. These strategies look different for everyone, but all serve the same purpose. The following 5 strategies can be used to increase your cash flows.

Let’s take a deeper look at app monetization!

Pay To Download

While many applications on the app store are free, there are a copious amount that require to be bought. This is a one-time purchase but allows users to have access to all features and functions. This is a standard way to drive cash flow.

In-App Advertising

We have all used applications that have different styles of advertising within. There can be banners, video ads, and popups just to make a few. This is a great way to generate cash flow.

Incentivization

Incentivized advertising is a great way to motivate users and partners. To increase engagement, advertisers can provide rewards and coupons. Applications like Runkeeper offer sponsored rewards when certain achievements are accomplished.

Freemium

This is where you can offer your consumers a stripped down version of the application. There will be limited functions and features. However, should your consumer want to have wider access to the application, they can buy a premium membership.

In-App Purchases

In-App purchases are often seen in games. This is because people want to upgrade their characters or obtain advantages. This is a straightforward and successful strategy of app monetization.

App monetization is important, especially when looking at long term success and growth. Applications have several costs associated with them, so it is integral that you have the cash flows to cover these costs.

If you are interested in learning more about app monetization options, reach out to us. We are proud to be in Texas app development, and want to help you turn your idea into a business.