Finding a Mobile App Monetization Strategy That Fits Your Business Model
Thursday, December 18, 2014
Have you ever bought a pair of those socks that say “fits foot sizes 6 – 12”? Really - one sock fits all those sizes? My nephew’s foot size is a 12, mine is an 8, no way is one sock size going to work for both of us.
So if it doesn’t work for something as simple as your feet, why do so many app publishers think that “one size fits all” works for monetizing their mobile app? Your business model is going to be much different from others. How you decide to create revenue through your mobile efforts is very much affected by your specific internal business situation, your app’s purpose and your audience.
The key to turning a profit in today’s crowded app market is to explore and create a revenue plan that speaks to your company and your apps’ strengths, all while working well for your users. While there are a number of ways to generate revenue, the most effective method is one that plays to your strength – the unique set of content, design, and audience of your particular app.
To help figure out your individual approach to creating revenue, Localytics has created a new publication, “The Definitive Guide to Monetizing Your App,” that covers six app business models you can use to help you understand how other companies approach app monetization - including advice on how to determine if one of these approaches is right for you.
The e-book shows you how to start the process, with suggestions on how you can answer these questions:
- What are you monetizing?
- Who is your audience?
- What are your long-term business goals?
In addition to examining solutions offered through the six monetization models, the guide also provides insights into: the major sources of App Store (and non-App Store) revenue; four common app revenue myths; and how to track app ROI with mobile analytics.
The guide is available as a free PDF download on the Localytics website. It just one of many different case studies, e-books, videos and more offered by the company to help demystify the app monetization and app marketing process.
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