How can a mobile website be monetized
If you want to earn money with your app, you should think in advance how you can best do it. There are several methods that I would like to introduce here:
Earn money with paid apps
At first glance, it seems the easiest thing to do is to ask for money for your app. Here you offer your app either in Apple's App Store or in Google's Play Store for a fee-based download.
But that doesn't always work. After all, you have to somehow explain to your users that your app is better than the free version from another provider. You also have to consider that there are many “bargain hunters” out there. Android users in particular want to spend little or no money on an app.
If you serve a niche with your app or are developing a one-off or very good app, a paid app can be exactly the right way to make money with your app. In addition, paid apps have the advantage that user engagement is considerably higher than with free apps. After all, you paid for it ...
You probably won't consider this to be one of the first steps. But using an email strategy tied to your app is a fantastic way to get more engagement from your customers. This in turn means that you will make more money with your app.
People rarely change their email addresses. This makes an email marketing campaign an easy way to ensure that people are actually seeing and engaging with your content. Regular emails will help your customers remember your brand and make them more likely to buy from your company.
According to Wiselytics, the total runtime of a Facebook post is just a few hours, while the lifespan of a tweet is just over an hour. Emails, on the other hand, have a lifespan of 12 days.
Where can I get all the email addresses from?
The best way to collect email addresses is to set up an email subscription form in your app or website. You will be surprised at the number of users who sign up, especially if you seduce them with the prospect of some great email subscriber benefits.
Email strategies can be very different. If you have any promotions or offers, send an access code in the email that you can enter in the app. If you write a regular newsletter or run a blog on your website, you can also mention this in the email. This will remind your users to come back to your app after being away for a while or alert them to new apps.
If you don't run ads on your app, you might be missing out on a phenomenal monetization opportunity.
Digital advertising through mobile apps has dramatically improved communication between advertisers and consumers. This is largely due to the amount of time people spend on their phones. We're talking at least 90 minutes a day - that's 23 days a year.
Most of the time, people just don't want to pay for apps, even though they spend all the time with them. Downloading an app that costs something is difficult as soon as there is a free alternative. Therefore, over 90% of app downloads are unpaid.
How can you get around that and still make money?
Very easily. Make your app free and use in-app advertising. Mobile advertising has increased significantly compared to classic browser desktop advertising and will become even more important in the future.
The 5 typical types of ads within apps
- Classic banner
Still the most popular mobile advertising format, banner advertising uses an inconspicuous “banner” at the top or bottom of the screen that contains relevant text and graphics. Banner advertising relies heavily on brand awareness, with little space for detailed information. It's an easier and safer way for a brand to get their name and product noticed by as many people as possible.
- Native ads
Native ads are ads that don't really look like ads. Instead of presenting a banner with relevant information, native ads try to integrate seamlessly with the app. The ad format is the same as the original app format for optimal usability.
Video ads are simple in concept and complex in execution. They are real videos that are either played while a user opens or interacts with a mobile application. They require a significant budget, but they offer a high level of usability.
- Interstitials / full screen ads
Interstitials are interactive displays that are displayed over the entire screen, often while an app is loading or after an app has been closed. Interstitials offer users the opportunity to engage with the product of an advertisement at a high level, often with convincing and creative call-to-actions.
- Rich media
Interactive, highly dynamic ads that are only limited by the advertiser's creativity (and budget). Rich media ads specialize in working creatively with users for high CTR and conversions. The Mobile Majority's own Rich Media Ad Builder AdKit ™ has already started to demonstrate the capabilities of Rich Media through various successful campaigns with well-known customers such as Proctor & Gamble and Expedia.
What you should be putting the most focus in implementing these ads is engagement. Many brands find it difficult to define this idea. Put simply, the better the experience, the greater the engagement. Your ads must entice the user, not frustrate them.
So if you want to incorporate an ad into your app, ask yourself these questions:
- How can users have a more meaningful experience in dealing with the ads?
- What kind of advertising would the target audience prefer?
- How can these ads tie in with my brand?
- Are these ads going to be too clunky or ugly and potentially ruining some of the experience for the users?
Depending on your brand, advertisers can pay you a large amount to host their ads. According to Statista, mobile advertising is projected to hit $ 231 billion a year by 2021.
So choose wisely - your decision could be the decisive factor in whether you make money with your app.
Freemium (try before you buy)
With this model, app publishers offer mobile users the option of downloading apps for free in order to use them with a limited number of functions. Additional content or digital goods can then be purchased via in-app purchases. This model is the direct equivalent of a free desktop software trial. You have to make a carefully thought-out decision as to which app functions should be made available for free, or which features you want to calculate.
Make money through in-app purchases and subscriptions
There are four types of in-app purchases on the iOS App Store - Consumable, Non-Consumable, Auto-Renewing Subscriptions, and Non-Auto-Renewing Subscriptions.
Consumables and Non Consumables
The consumable purchase includes the in-app purchase of various consumables, e.g. in games that app users need to replenish while playing.
Non-consumables are purchases that app users have to make once in order to expand the functionality of an app.
With the automatically renewed subscriptions, users have to pay for certain services or periodically updated app content until they cancel the subscription.
Subscriptions that are not automatically renewed mean that users only pay once for a subscription and then receive access to certain app content for a certain period of time.
One of the app monetization strategies that is relevant for mobile games, for example, is the in-app currency. A typical example would be offering a player to purchase a range of coins via in-app purchase, which they can then use in-game to purchase virtual things.
In short, affiliate marketing for mobile apps is about being rewarded with a commission, e.g. if a mobile app has been downloaded or certain actions have been carried out with an app via the link placed in your app. In order for it to work for your app monetization strategy, you need to carefully choose which specific apps you want to promote in your application. These should be apps that can complement your app's user experience.
There is a certain type of affiliate marketing that is lead generation. This is a process that does not sell products or services, but collects contact information from people who are genuinely and explicitly interested in buying certain services or products.
If your app has a large user base and a high level of user interaction, then you can consider which other company could benefit from bringing their products or services to your audience. With this model, you get a single advertiser in your app who taps your entire sales potential. This can be, for example, a splash screen with the sponsor's logo, which is shown immediately after the app has started.
There are many ways to make money with your app. We will be happy to advise you in order to find the right option. Just get in touch with us.
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