App Monetization : How To Monetize Your Mobile App

When you intend to link a mobile app to your business, then it is important that you look for ways to monetize it. With the right tools, you can earn a lot of money from owning a mobile app. 

Below are the best ways to monetize a mobile app;

• Advertising

If you aren’t adding ads to your app, you are missing out on a great opportunity for monetization. A mobile app development company will recommend using advertising to monetize apps. 

Digital advertising with the use of mobile apps has greatly improved communication among advertisers and their numerous customers. This is largely due to the breathtaking amount of time people spend on smartphones. People on the average spend at least one and half hour without their phones on a daily basis which is an equivalent of just 23 days per year.

More often than not, people are unwilling to pay for these apps they spend a lot of their time on. The urge to download an app which costs $5.99 fades away once a cheaper or free alternative is available. It's no wonder that a whopping 91 percent of all app downloaded in the year 2013 were 100% free.

With this, you begin to wonder how you can make real money with your mobile app. Well, it’s easy. Simply make your app free, but enable in-app advertising.

Advertisers today now realize the value adverts in mobile apps over those that are always embedded in browsers or sent through SMS messages. When your mobile app is ready, you can create ads within your app instead of selling it. Some of the display ad options include;

Interstitial/full-screen ads – These types of ads are strategically placed at any natural pause point, for instance when trying to go through menus. Since these ads are not interrupting the app usage of consumers, they tend to generate more clicks without causing users any frustration usually.

Notification ads – When this ad comes up, it is visible at the status bar, this makes the mobile device user more conscious of an ad's presence. Keep in mind that these ads aren't user-friendly. They can potentially damage your app reputation. 

Advanced overlay – This ad uses transitional points similar to interstitial ads, but the difference is that it is made up of interactive rather than simple clickable image. This ad is virtually a combination of full screen and capture form ads.

Banner ads – These ads are normally seen at the top or base of the mobile screen and can somehow be ineffective as they tend to be more of a distraction in comparison to the other forms. Your users can also be irritated by these ads, so think it over before incorporating these ads into your business’s app.

What you aim to achieve the most by implementing these ads us user engagement. It is this same idea that many brands are unable to define. When you use ads that are not user-friendly, you miss the purpose. Simply put, the better the experience of users, the higher they stay glued and engaged. The more they loiter, the more likely they are to click, generate leads and sales. Your ads should entice and not frustrate the user because the more leads you generate; the more money you'll generate from advertisers.