9 Ways Mobile Apps Can Increase Revenue for Your BusinessAlfred
According to Statista, mobile apps are anticipated to generate around $189 million by 2020. This is a clear indicator that businesses have to come up with apps to gain more profits. Nonetheless, there are entrepreneurs that are adamant to invest in this platform.
Luckily, this article will walk you through some of the ways in which you can boost your business revenue via mobile apps.
1. Come up with Paid Apps
The first option entails building an app that can only be accessed after users make a payment. Basically, you have to come up with an app that has paid features. This starts from the downloading phase to the purchase of products and services within the app.
Nonetheless, you need to be cautious not to drive away users by having exaggerated fees. That said you take some time to standardize the prices to achieve the desired results.
2. Freemium Apps
This is arguably one of the most effective ways to improve monetary value for an app. All you have to do is to provide some free features but with limited functionality. Once the user has liked the feature then he or she will definitely pay to get the added features.
An example of such an app is Grammarly. The grammar check-up app allows you to do basic services while offering extended features for a certain fee.
Most of the top mobile apps ensure that the platform is easy to use by people in different part of the globe. This implies that you also have to localize your content for users to grasp what it entails.
For instance, you need to make use of languages that are understandable to the users. The beauty of this strategy is that you get to circumvent through the communication barriers. At the end of the day, you get to lure more users on your app.
4. Invest in Users’ LTV
With mobile apps, you need to find the value that users accrue to your platform over time. This is referred to as the user lifetime value. The essence of this strategy is to ensure that users sustain the growth of the app over time.
Under this, you will be expected to use techniques such as deep linking to direct users to the exact activity of the app. Moreover, you need to ensure that you have a user-friendly interface. This should entail simple design and content to make users understand the functionality of the application.
5. Use of Push Notifications
The overwhelming number of enterprises offering these services has rendered consumers confused on the end product and services. That is why you will find online visitors abandoning the services/products after a while. However, you can avoid this by using push notification.
If you have your own mobile application then you can be able to send push notifications to your platform. What do the push notifications do? Well, they are meant to remind clients to make a purchase of new products and services. That’s not all you can inform your customers of new products and services provided.
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6. Promote In-app Ad Revenue
Profound experts in monetization of mobile apps attest that in-app ads help platforms grow exponentially. You will be required to associate with third-party companies that will place their ads on your app.
Under this, you have options such as the use of interstitial apps and native apps. The aim is to a win-win scenario for all parties. Remember, the companies get to enjoy user retention as you also increase the revenue for your app. However, you should not bombard users with countless ads running through the app.
7. Integration of ASO Updates
Building an app alone is not enough to accrue revenue to run the business to a higher level. That said you are supposed to be adaptive to the modifications made by platforms such as Google and Bing. This will help your app more visible while offering solutions to end users.
Remember, the updates need to be done in a timely manner for a better outcome. Furthermore, you should ensure that the app is compatible with different app stores. You can always get the latest updates from our online platform.
8. Use of Social Media
According to smart insights, the number of social media users hit 3.19 billion users by 2018. That is why you cannot afford to overlook this number especially when you wish your business to prosper. One of the ways you can capitalize on this is by having a mobile app. Essentially, you get the chance to share your app link to users on the social platform.
Additionally, you get to use social media to attract more visitors to your products and services. That’s not all, sharing the link makes it easy for users to share your link and attract more clients.
If you invest in these services then you will definitely attract more revenue to your platform. In the long run, you need to ensure that you solicit more revenue for your business.
9. Competitive Advantage
At this age of time, you cannot afford to be indolent given the stiff competition in the app market. Well, you need to some time to research your competition and the services or products offered. From here, you will be expected to be creative. If you are meticulous with this aspect then you get to attract more customers to your enterprises.
Subsequently, you get the chance to undertake timely analysis to get to improve on these services. You should not forget that this field is not static. That is why you need to put your best foot forward when it comes to the revenue generation for your app.
As much as there are countless strategies for generating app revenue, the results may prove otherwise. That is why we analyzed and established the above strategies to help you hit your target. It is thus your duty to test these strategies and adapt those that are suitable for your app.