by Praveen Mishra
In 2018, global mobile app revenues amounted to over 365 billion U.S. dollars. In 2023, mobile apps are projected to generate more than 935 billion U.S. dollars in revenues via paid downloads and in-app advertising, says Statista.
Mobile apps are on the rise! With the huge demand for mobile apps in the market now, it wouldn’t be wrong to say that mobile apps have become an integral part of any business. It is a mobile app that keeps your users hooked to your services.
With more than 1.84 million apps available on the Apple App Store and almost 3 million apps on Google Play, the competition is very steep.
Ensuring your mobile app gets noticed and gets downloaded is only a part of the whole issue, while the other part is how will you monetize the app. If your app is free, there are still plenty of ways to monetize it. Whether you decide to sell advertising space, subscriptions, or in-app purchases, here are five ways to ensure your app is a success.
Here, in this article, I have discussed 5 ways to know how to monetize your mobile app. Let’s read in detail about the major 5 tips to follow before launching an app.
Make Sure There’s A Market For Your App!
Before you start with the development of your mobile app, it’s important that you look for other apps in the market. Do a proper market analysis and know about the other apps prevailing in the market space now. Determine the major demographics and identify their pain points. Once you have gone through the understanding of the target market, consider how your mobile app will benefit them. Know how your app can act as a solution for the users.
Create A Marketing Plan!
In order to ensure that your app is successful, it’s important that you devise a great marketing plan. Let people know about your app and how it helps in resolving their issues. Although testing the app is a crucial task, making sure people know about it is even more important. This is where so many business owners and developers fail. To ensure your app gets the visibility it needs to be successful, you’ll need a marketing plan. You should create a marketing strategy as soon as you start the development phase. Develop the unique selling proposition and its main differentiator from the competition.
Design An Easy-To-Navigate Interface!
Great user experience is essential for keeping your customers hooked to your app. If the user experience (UX) is not easy to use, then the user will most likely delete the app. Also, if your app fails to allure the customers, then they will just ignore the app. It’s important that your app has an easy to use interface. Avoid adding unnecessary features into your app which makes the app more complicated. With so many apps used once and then deleted, it’s critical to ensure your app works flawlessly. Testing your app for bugs before you launch is key to your success.
Build An Audience Before You Launch!
Do a competitive market analysis and identify your target audience. Let your audience know about your app before you launch it in the market. One of the best ways to ensure the success of your app is by building an audience before you launch. Ask your friends, family, friends, and colleagues to use the app. Share the app with others and get feedback from them. This will help you deliver a better product and ensure the success of your app.
Measure Analytics And Feedback!
After you’ve launched your mobile app, it’s critical to measure user engagement and activity. Here are some important key performance indicators you should pay attention to. Here is a list of all the questions that will help you analyze how successful your app would be.
- How many daily and monthly active users does your app receive?
- What is the retention rate?
- How long does a user spend on your app?
- How long does it take for your app to load?
- How are users finding out about your app?
- Are users happy with the layout and navigation? Do they find it useful?
- How much revenue have specific customers generated over the time they do business with you?
Positive feedback helps to increase the visibility of your app thus making your app more successful. When users leave positive reviews, it can affect how visible your app is in the app store search results and how likely it will be featured on the app store.
If you want to have a successful mobile app launch, then you need to plan a great marketing strategy from the beginning. Your marketing strategy needs to be well devised and structured right from the beginning. If you miss this, there’s a decent chance the launch will fall short of your benchmarks.
By now, I am sure you have got a clear idea of how to monetize your app. Clearly, implementing these steps will help you know how to ensure the success of your app. After reading these 5 important tips to follow before launching an app, you will get an idea of the things you need to consider before introducing your app in the market.
Praveen is a Computer Science enthusiast with a flair for creating content. He is passionate about helping businesses achieve their goals. Praveen is currently associated with Resourcifi.