Developing a free app means that your app will join hundreds of thousands other freebies on the App Store. While users love everything that’s free, you are faced with a problem – how to make money from your app? In this post we are going to list three app monetization strategies for you to consider.
1. In-app purchases
Using in-app purchases is a good strategy for a lot of types of apps, from mobile games to apps that make it possible to order physical goods. What you should do is be smart and offer something of value to your users without making the free app too restricted. If you are a game developer, in-app purchases work great for extra features, extra lives and purchasing in-game currency.
2. Go Freemium
This is another popular monetization strategy for mobile games. A Freemium app or game means that the basic functionality is free, but upgrading or getting additional features costs money. This strategy works great when you need to attract users and then turn them into paying customers.
In-app advertising is a monetization strategy that works for most types of apps. The main benefit of using advertising in your apps is the ability to monetize your app without asking your users for money. Using in-app advertising is a great way to get more installs because the users are not put off by the cost or any potential future spends the app may require. Advertising is also perfect for apps that don’t have any possibility for in-app purchases or any features that can be unlocked by using the Freemium model.