It’s very tempting to develop an iOS app and start making money with it, but it’s a lot more difficult than it sounds. Developing an app that will become popular and profitable requires a lot of effort, as well as a solid monetization strategy. Here are some popular ways to monetize a mobile app that you should consider.
- A paid app
The simplest way to monetize your iPhone app is to make it a paid app. Users are charged a one time fee when they download the app. All future updates and new features are usually free. The key thing here is to set the price just right.
- A freemium app
This strategy works well when you create a limited version available for free and a premium version with a lot more features and functionality. The limited free version needs to be developed in such a way that it generates interest among the target audience and provides some value, yet creates a strong incentive to purchase the full version.
- In-app purchases
This is the most popular app monetization method for mobile games. The game is free, but a lot of its features and upgrades need to be purchased. For example, in-app purchases can be new weapons, cars, ammunition, or even level advances.
- CPI ads
Another common way to monetize an app is to run install ads for other apps. The easiest way to do that is to join a CPI advertising network because that will bring you revenue and additional exposure for your app.
- Run sponsored ads
And last but not least, a good way to monetize your app with ads that appeal to your target audience is to find sponsors and advertise their products. For example, if your app is related to travelling, you can cooperate with services like Booking.com and run their ads within your app.