I recently heard a developer describe the iOS and Android app stores as an “app wasteland.” He was talking about the hundreds of thousands of apps that are languishing undownloaded, unloved and unknown.
If you’re an indie app publisher, you’re familiar with the scenario. There is no magic bullet, no marketing pot of gold at the end of the rainbow. However, there are successful ways to help your app grow, but it takes money.
You might think from my comments here that I am going to discuss marketing. However, today I’m discussing tactics and strategies that will allow your mobile app to produce ongoing revenue. This ongoing revenue can be reinvested to fuel growth, creating a cycle of increasing returns that will help move your app out of the app wasteland to your own personal app paradise.
The key is to make sure that when your marketing efforts kick in; your app is at its maximum potential to monetize. So what is your strategy? You might have an idea; however have you fully loaded your monetization arsenal to make sure that all the weapons available are fully at your disposal?
Probably not, right? That’s why I am suggesting that you read a
recent blog post from Phunware’s Emily Reynolds titled, “11 Steps to Getting More Money Out of Your Mobile App.” She makes a number of valid points including, “Monetization is more than just making money with your application. It comprises an evolving, complex set of opportunities to boost your profitability. Advertising is the primary component of monetization, but not the only one.”
She then provides a comprehensive overview of the following 11 steps to take to help create a monetization plan:
- Start with strategy.
- Consider freemium.
- Find the right monetization partner.
- Pick the right kind of in-app ads to fit your preferences and goals.
- Don’t let advertising wreck your app.
- Localize your advertising.
- Consider advertising outside your application to grow your audience and increase revenue opportunities.
- Push relevant information outside the app.
- Explore in-app purchases and mCommerce.
- Look into offbeat monetization tactics.
- Optimize your efforts.
As you read through these, you’ll see that that she makes good points. For example, the topic “Don’t let advertising wreck your app.” This is something we have all seen time and time again. Unexpected, ill placed, obtrusive advertising breaks that kill any engagement with an app. With all of the evolving options for in-app advertising today, there is no reason for this to happen.