When to Monetize Your Free Mobile App

| 18-Dec-2014 |

Are you interested in monetizing your free mobile apps? Before you decide to do so, it is essential that you choose the best strategy to ensure that you make a profit from your apps without alienating your users.

mobile app development

Identifying Your Market

The App market has drastically changed in the past several years. Previously, paid apps top the marketplace; however, with the influx of free games, paid apps are no longer as popular as before. An exception however is when the application has few competitors in the market or when it is released by a prominent publisher. By identifying the marketplace, you would be able to determine which type of monetization would best suit your apps.

Which monetizing strategy would work for you?

Once you determine your intended market, the next course is to identify the strategy that you will be using to earn profits from your mobile app. Are you willing to continue your free app but want to add In-app advertising, an In-app product or a trial version? In-app advertising allows you to partner with third party advertisement companies and earn. If you have a large user base, you can collect these data and sell these to app publishers. The publishers would then pay you to have their ads placed in your app. The mobile app is still free but some users might get annoyed with the ads especially if you have too many ads placed within the app.

iPhone app development

An in-app product on the other hand allows users to play the game for free but have the option to pay to unlock certain levels, acquire items and other bonus features of the game. This is the best option if you are interested in earning income from your apps without having to negotiate with third party publishers.

A trial version works differently as it gives the user full/limited functionality for a certain period of time. A user has the time to try the product out and buy the full version if they are interested in the product. This strategy works very well as it engages the user enough that they don’t mind paying the full price to enjoy the apps for a longer time and/or the full version.

android app development

These are just some of the strategies that would help you determine when the best time for you to monetize your apps would be. By identifying the marketplace and choosing the best strategy, you would be able to start earning from your mobile apps.

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