Monetize your business app

Monetize your business app

New applications are published daily on Google Play and App Store, some for distraction, work, rest, and more. They have been so well received that they have created a new marketplace to generate communications, obtain data, and more than anything else, a new way to advertise the products and services of millions of businesses and organizations worldwide.

There are several ways to monetize the applications, which go beyond the subscription to avoid advertising within it, today we tell you some of the strategies most used by large multinational companies.

The first we can name is the "Fremium" modality, the best known and applied by businesses such as Netflix and HBO, this model is based on offering limited free content, hooking the user to the benefits offered by the company, and offering subscription plans to access all the benefits in the application. Three models can be derived: free access for a limited time, free access with limited features like Dropbox, and free access in exchange for viewing advertising to access features like Spotify.

Another monetization strategy is known as "Pay per download", basically the user must cancel a previous payment to access the application's functionalities. Experts do not recommend this strategy, especially if it is a little-known company. According to a report by Statista, in Android only 3% are paid and 7% in the case of iOS.

If your application is about games, the recommendation is the "In-app purchases" strategy, regardless of whether it is designed for Android or iOS, usually the app offers various packs to improve the user's performance in the app. The best-known application with this mode is Candy Crush.

Finally, we have the "M-Commerce" mode, a fusion between e-commerce and app. The application itself is a sales channel for the products and services offered by the business that owns an e-commerce. The purpose of this modality is to improve sales, usually companies offer exclusive items through the app, generating new sales, and increasing customer loyalty.

We can find other strategies, including those mentioned above, new modalities adapting to the digital market, consumption patterns and the new reality we live in worldwide, our recommendation is trial and error. By combining different strategies, it will be possible to know which modality is the most profitable and the one that best adapts to the business model you have.

14 de Septiembre, 2021