How to find the best monetization model for your mobile app

Currently there are four popular app monetization methods. Learning about these methods in detail will let you find which one of them is the best bet for your mobile app. One of the main purposes of creating mobile apps is to generate income. Choosing the right monetization method is very important to generate decent income from your mobile apps.

Pay to play

Earlier, when the app stores were first introduced, smart mobile device users had to pay to download mobile apps. This method which is also known as Pay to Play still has a good standing in the app stores. Apps from top brands follow this model of monetization to this day, and they have been successful in generating good income. However, following this model of monetization would be disastrous for startup concerns or online entrepreneurs looking to earn via mobile apps.

Freemium model

The freemium model of app monetization is currently the top performing one in the app stores. The freemium model allows users to download the apps and use them until they find it worthy. Satisfied customers often do not hesitate to spend on the premium services offered through freemium models. This model of monetization is the best bet for content based mobile applications. For instance, owners of gamming apps that are addictive can charge a fee to allow users to play advanced levels. Online magazines can introduce a subscription fee, if the users are impressed by the previews and wish to buy the entire content.

In-app ads

In-app advertisements are also known for their income generation capabilities. Popular fermium models often use in-app ads to generate income from the free versions of their apps. In-app ads are also used to lure the customers to purchase paid versions for ad free experience. Depending on the popularity and usage of your mobile app, in-app ads can be a great source of income to app owners.

In-app purchases

In-app merchandise purchases as in case of retail store applications are good at generating income by boosting sales. It is also the best way to utilize the current trends of shopping on the go. While visiting mobile sites is comparatively cumbersome, installed mobile apps in their smart phones make it easy for the customers to make purchases on the go. Thus in-app purchase is also an effective method in generating income through mobile apps.

All of the above methods of app monetization are equally good and none of them is inferior to the other. It depends on the type of your mobile app and the products and service you offer, when it comes to choosing the best app monetization model. If you aren’t sure about the appropriate monetization model, it is wise to consult mobile app consultants to get the best monetization solution for your mobile app.

About the author

Orange949’s iPhone app developers Orlando have developed a number of applications that add value to iDevices. Orange949’s application developers Miami, on the other hand, are known for their innovative android applications.