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Quick & Easy Way To Earn Money From Your Mobile App

Doesn’t everything get down to business (read money/revenue) at the end? If that is not the ‘ONLY’ motive than at least it must be ‘A’ motive in the entire process because for the survival of your business you need to earn money to keep it going.

We are sure that ‘fun’ is not the only thing for which you have to build your app. Yes, the probability takes a little shift towards enhancing loyalty, create brand awareness, gain access to the new global customer base, etc. But let’s face it, haven’t you invested your time, knowledge, resources and of course money till the app is developed, launched to play store and at many other stages.

Here’s is our list of app monetization model and/or strategy that will drive you most revenue. But at first, we need to understand that since every app is different and hence, a little twist and turn & customization might be needed in the below list to create a go-to-market strategy for your app. A little-personalized research and gathering industry-specific data & insights will be helpful in deriving the perfect strategy that suits your mobile app to generate revenue.

1) Advertising

This is one of the most basic methods to make money from your mobile app wherein, you’ll get paid by advertiser once the user clicks or views an ad shown in the app. This bypasses the need to inculcate pay per download and encourages more people to download your app. Advertising is usually blended in a mixed monetization model. Few of the ad formats are listed below:

i) Banner Ads: These are either placed at the top or bottom and are being considered as most distracting compared to other formats. However, it diminishes your user’s experience of using the app and hence, do your thorough research before using banner ads in your app.

ii) Interstitial Ads: These are transitioned ads placed from time to time and mostly in the form of videos. This ad format is mostly used in games apps and perhaps could generate good results if implemented strategically.

iii) Rewards Ads: A chain of reward ads are spread in the app to grab a prize or gift. The users receive the discount, redeem cards or coupon etc. In rewards ads format, along with the user, ad publisher also get compensated.

iv) Notification Ads: These are interrupting and intruding ads lying at the top of mobile device’s status bar and can easily hamper brand’s reputation and hence we suggest to use them at a good interval of time.

v) Native Ads: One of the good ways of getting things done is what these native ads are built for, as these are content-based and shows up in apps’ news feed. Native ad formats accommodate according to the apps form, format, function and feel. Basically, the ads can easily overlay themselves upon the app’s interface and hence, are neither distracting nor interrupting with the user experience.

Mobile app advertising can be effectively most beneficial, however, care has to be taken in order not to overdo it. Collecting demographic and behavioral data might give some insight to app publisher to overall increase the user experience without being intrusive with ads and still earn money from the app.

2) Charging a One-Time fee:

The most obvious way to generate money from your mobile application is through paid download. Charging users a one-time fee to purchase the app and unlock the full operationality of the app. This could also prove as a fatal attempt as it is hard to convince users to download a paid app before trying it out, especially with so many free options available in the app store. Moreover, Apple and Google both charges 30% and hence, it is advisable to choose this method if your app has unique features over the other available free or similar options and offering added value.

3) In-App Purchases:

This model consists of selling virtually a feature or product or any physical goods within the app. In a way, your mobile app acts a sales channel or storefront in generating money through this strategy. Highly adopted by top-grossing apps and mainly games apps to level-up a feature or other add-ons. If in-app purchases are not well crafted in accordance with the incentive structure, it will not persuade users to spend more.

4) The Famous Freemium Model:

One of the most popular approaches to monetizing your mobile app is through the freemium model, in which the basic version of the app is available for free, however, the full functionality and add-ons are locked until user make a purchase to use the full version. Since, this model offers, ‘Try Before You Buy’, the user gets time to familiarize with the product and hence can make an informed decision before purchasing the full version.

5) Subscriptions or Paywalls:

Subscription-based app monetization methodology is advisable in case if the app is content driven. In such scenario, a limited content is allowed to view for free (for e.g basic classes or lectures) but users need to subscribe to view the advanced lessons/lectures or the entire content for a fee.

As in the case of every product review, marketing and decision, monetization strategy must have to be approached beforehand with the end user in mind. It has to be considered in direct correlation with the user experience. It is hard to advise on the which strategy one should opt for, as it depends on the type of app and the target audience. However, one could apply a permutation and combination of these strategies to make the best out of it.

Apple Vs Android A comparative study report 2017

The last few years the smartphone segment has been witnessing a familiar battle on a year-on-year basis. Apple Vs Android is a classic tug of war of the Tech giants, each vying for a leading market share and supremacy.

Together, they have created a Duopoly and account for more than 99% in smartphone sales. We can say that this trend repeats itself when it comes to the respective OS too.

Let us know look at this competition scenario from various parameters. Viz. OS, Smartphone market share, Performance, etc.

Apple Vs Android – A comparative study

Worldwide Market Share in OS

Worldwide Market Share in OS

Android OS, belonging to Google, is Linux-based and is partly an open source. Originally developed by Android Inc., the company was later acquired by Google in 2005. iOS is Apple’s mobile operating system. Android dominates the market with a whopping 87%, while iOS comes at a distant second at 12%.

While Apple tended to dominate the market in the early stages, it is now clearly dominated by Android.

Geography Distribution

Geography Distribution

Android has a more market share in developing nations like Asia and Africa while iOS leads the market in developed countries like US, Australia, Europe etc. This may be due to the various cultural and socio-economic factors that are in play in the local geographies.

RelatedAPPLE VS ANDROID 2015 STATISTICS – Global Survey Report

Device Fragmentation

 

Android exhibits a high level of device fragmentation due to the huge variety of models and varieties available, not just in Samsung but from other OEMs too. This becomes a problem when a lot of Android users are still running their devices on older versions of the OS. This is a big headache when it comes to fixing the bugs, and it creates vulnerability and security concerns. This is not a problem in the case of Apple with fewer models.

User Experience

Mobile OS User Experience

In terms of User Interface and experience, Apple seems to clearly top the charts, followed closely by Android at the second place. iOS offers a simple and clean interface, that is easy to use and navigate, but Android offers a deep-set of menus to choose and use and is ideal if you need QWERTY keyboard.

Security and Privacy

iOS and Android Security and Privacy

As the OS model is more open in Android compared to Apple, it is slightly more vulnerable to hacks and cyber threats. The device fragmentation and openness of installing apps that are from third-party makes Android OS susceptible to security concerns.
Apple iOS very rigid in giving access to your locations and contact info to your Apps, which is not the case with Android OS Apps.

Applications – Apple Vs Android

When it comes to Android App development and iOS App development, there are few clear demarcations which make for obvious preferences.

Android App development is easy due to a deeper access to their OS, and high levels of customization are possible, whereas this is not the case with Apple App development.

App development in Android takes more than 40% of code lines and is 30% more expensive than iOS of Apple. But, once developed, it is easier and quicker to publish in the Play Store. Apple Developers find it more of a stricter and longer process in iTunes.

Maintenance and Bug fixing are difficult in Android OS compared to iOS, due to high levels of device fragmentation.

User Engagement

 

Mobile App User Engagement

Apple Apps are more beautifully designed, easy to use and are presented in a well-organized iTunes Store. Android offers an extensive range of Apps in the Google Play store.

Apple Users access more content categories and do more online shopping than Android users. This means that they have higher mCommerce engagement than Android users.

iPhone users tend to make more In-App purchases compared to Android. Ad-displays is the main source of revenue generation in Android Apps.

As per App Annie reports, revenue generation is 60% more on iTunes store of Apple, as compared to Google Play of Android.

Apple Vs Android – The Future Trends

Operating System

Mobile App Downloads

Apple and Android, together dominate the market and are equally good in their own right. Choosing one over the other becomes a matter of personal preferences or by one that is governed by your business needs. So, if you are an individual planning to buy a new Mobile phone or a Business Owner who has hired an App Development Company to build his first App – do your homework. Identify your needs, preferences, time and budget and use these as a criterion for your decision-making, as both are Tech giants come with awesome products.

Source: Android Vs Apple – A comparative study 2017

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