Right Monetization Strategy for Your New Android App
So, you’ve developed a great app, yet you can’t figure out how to monetize it. Fortunately for you, we know a thing or two on how to monetize an app. Here’s our take on how to get revenue from a mobile app.
Where to begin?
You being by listing your app whenever possible. For an android app that means listing it on both Google’s Play Store and the second biggest market, Huawei’s AppGallery. That’s exposing your app to potentially hundreds of millions of users from both app market places.
If you have a great app, you might not need to start a promotional campaign or to make any app search optimization. Great apps tend to take off on their own without investing in marketing or ASO.
Your first goal should be getting a solid base of users. Then make an effort to increase the number of active users further. The idea is to make people in love with your app or game. Once a large number of people are "hooked" on your game/app, you can start thinking about how to monetize it.
This is the make-or-break part. If you have an app that offers music, TV, films, or a magazine, a paid subscription is the right monetization strategy. If you represent a well-know brand, one that has a loyal army of followers and admirers, you can even consider charging a fee for every download.
However, if you don’t fit in any of those categories, then you might want to go for monetization via in-app purchases. To that end, you can go with HUAWEI in-app purchases or choose another platform.
The beauty of in-app purchases
In-app purchases were first introduced in Korea and Japan. Soon after app developers accepted it as one of the most effective app monetization methods. It is a monetization method that offers a lot of flexibility, and that resonates well with users if appropriately applied.
The biggest trick in in-app monetization is not to over-indulge those that pay for the additional features. If that makes the other users like “second-class citizens” things might not work out well for you at the end. Furthermore, if it is a game you’ve developed, you don’t want those paid users to have a massive advantage over the free users.
The trick always has been in balance. Keep free users happy by allowing them to play free, and at the same time give a certain edge to users that pay real money for the extra features.
Many app games solve that by creating their in-game currency. Everyone can earn the currency through playing and by high achievements. Then some don't have the time to spend too much time playing, yet they want to stay competitive and win. Those folks are the ones that tend to spend real money buying game currency which gets them much needed features to remain competitive and rise through the levels of the game.
When you have in-app purchases, you are in full control. You decide which features will be on sale, at which price, whether those features can be won through free playing or not, and pretty much everything in between. Plus, on your side, you will have analytics and data from your player's behavior. Combine that, draw decisions based on both those insights, as well