Come closer. I have to tell you something important. You created an app, without hiring an app developer. And now you’re in a dark room. You can’t see anything, and you can’t call for help. Do you know why?
Because the monster will hear you. It feasts on your fear, and if you shout, it will come for you and devour you. You try to call for help but only mumbled phrases leap out of your mouth. And now, that hideous demon is onto you. With its snarl, you can sense that it will devour you completely.
There is nothing you can do to change this.
Alright, lights on.
If you feel that whatever I said is just a story then you’ll be wrong. Many app developers feel the same thing before launching their apps online. The knot in their stomach, the perennial arched brow, and sweaty palms. We all have been there.
But you still will be wondering, “Yes sure I feel nervous before I launch any app. But what has this all got to do with that monster?”
I was waiting for you to ask this.
For any app developer or app development company, the market is that monster. You make any mistake, and I mean any mistake, and the monster that is the people will eat you up. For a slight error, your ratings can go down and that can become a cascade of bad reviews.
Those in turn will lead to fewer people downloading your app which will result in less money and now you know where things are going. That monster is real and it’s about to destroy your creation.
No wonder dedicated app developers and app development companies are so focused on the market. And yet, the sad part is, no matter how many apps succeed, there will always be too many failures. The demon will always devour more.
But this might not be as many of the bad things we are led to believe. Think about it. If we learn what are some of the mistakes that were made by the apps that failed, then we will have a ton of valuable information and lessons to learn from!
This is a goldmine not just for app developers, but for entire app development companies!
Here’s the one rule to rule them all.
“Money is everything.”
I know you might not believe in this. But in the app development world, this is the truth. If you’re not able to generate enough dough for your team, then no matter how great your product might be, your app will fail.
Case in point, the mobile app game Durango. This free-to-play game was the closest to Ark for the mobile players.
The gameplay was great, the plot was amazing, the app ran smoothly and it was running exactly on a thin red line where the game is not a deliberate Pay-2-Win.
Everything was going great, and still, it failed. The major problem for the app development company is the problem of monetization.
- How will you correctly monetize your app?
- What is the perfect method for app monetization for your app for your target demographic?
- What is the manageable target goal for your app development team/company to make profits?
All these questions might make you feel like this is a business, and you’d be right. Your app is a product and the people, market. Make your dent, and you’ll make your fortune.
Now it completely depends on your app and its type. You can’t use the monetization strategy of any video game app for your dating app. But just for good measure, here is a list for you.
This contains the ways by which you can monetize your app. Well, what are you waiting for app developers? Check them out!
A: Advertising:
This was going to be at the top. This is one of the best ways for any app to generate money. And this is also the easiest method and this method can be used by app developers for any kind of app.
Just try to not go overboard with this. If your monetization strategy comes in between the user experience then that’s just a death knell for your app.
B: Premium Profiles:
This is the direct friend of the In-app advertisement. By using premium profiles, the users get a chance to enhance their own experience and not be disturbed by the constant ads that keep popping up on the screen.
The major problem here is the pricing structure. This why knowing your target audience is so important for app development companies. You can’t use the same pricing structure for everybody. The amount of money a CEO can pay is different than a teenager who gets his pocket money.
C: Subscription:
the word subscription gets thrown a lot these days. This simply means that for any service-related work, the client will pay you a monthly price.
For apps like Netflix, news sites/blogs this is their best method of monetization. Food for thought. You’re an app developer, can you think of any way to create a subscription-based model for Gaming apps?
D: In-App-Store:
Here, your digital app also sells merchandise of its brand. It can be as simple as a t-shirt, to selling real-life toys. The best example, in this case, can be the game Light-seekers. Not only does it attract more clients by crafting a great TCG app, but also provides toys and merchandise of their in-app characters!
If done correctly, an app development company can make a bank out of this.
Conclusion:
Monetization of an app can be a very tricky thing. But it’s also the most rewarding because…well this can generate the highest amount of money.
If you have any doubts, then feel free to read our other articles, and if you wish to contact us, then just click here.
Thanks.
