Many people venture into the mobile apps business not just because of the fact that they want to increase the customer loyalty, publicize the brand and gain new customers but also because mobile apps can fetch them a lot of revenue. Mobile app can act as a means of marketing medium for brands. After all the hard work developers put in for the app, they expect it to be a solid source of revenue.
Mobile e-commerce is rapidly growing but that doesn’t mean you reach the billion dollar success of apps like WhatsApp and Instagram. You need to develop a sustainable mobile business and you need to have a well thought out model for how you can earn maximum revenues before your app hits the market.
Whether you are a developer or a marketer, you need to know the strategies to follow for earning maximum revenues.
Firstly, you need to identify the model which will be right for your app. You need to know the differentiating factors between your app and the apps by your competitors. Then ask yourself what would users pay for and the business models by your competitors and how well have they worked.
The top 6 models followed for mobile ad monetization are as follows:-
1. Banner Ads – These ads usually occupy space at the top or bottom of the app. On clicking the ad, user can get an option of downloading a new app or watching a video.
2. Interstitial Ads – This model introduces ads at points like the starting of an app or after a level gets completed.
3. Rewards Ads – This model is a good for both customers as well as iPhone developers as they offer reward points, coupons, discounts, freebies. If users manage to achieve something in the app, they can see pop-up message to display the freebie and owner of app will also get compensated.
4. Offer walls – These types of ads are used in Unity games , users get the option of buying virtual goods for real money or users need to perform some action on the app to earn virtual items.
5. Notification ads – These ads can typically push advertisements to the customers even if the app is not active. However it is only supported on Android apps.
6. Native advertising – Typically used by ads focusing on content and the ads will show up in the news feed. For example Facebook has employed Native advertising model which is going pretty well.
Whenever you plan to develop an app incorporating advertisements, research thoroughly and then finalize the model and develop an app based on that model.