Being an appreneur, the dream was always been the same and i.e. of making big money because of your app, isn’t it? If your monetization strategy is not very well planned out then, it means that it doesn’t matter even if you have developed the best possible application in the market, it will not return a profit. There are many alternatives for monetization, and we bring you some major dos and don’ts for your app monetization if you yourself get bamboozled in the space.
DO’S:
Do build monetization in your app in the beginning:
Building a monetization is a vital step in your developmental stage. It is important t have it coded and that it should makes sense on sales level from the very onset and you know you can always activate it later on.
DO look up to your competitors for ideas:
You should always identify your closest competitors so as to strategize your app monetization better which will make sure that your application offer better experience than theirs. It is very important because the users are most likely to compare the prices and value according to the price. If your competitors are charging less, then you also have to lower the prices.
DON’Ts:
Don’t expect an immediate jump in your sales:
It takes a lot of time to build your partner network. Plus it will also consume time of those partners to speed up on the best possible way so as to sell your application. Even if your application is best in the market, it will require time to work properly. It takes a lot of time to build up the momentum.
Don’t put all your eggs in one basket:
If there are so many alternatives of the app monetization then there is definitely a reason behind it, and i.e. there are some dangers in relying on just one single source of monetization. One should try a few more different options so as to have a safety net with you.
Conclusion
Keeping these things in mind, your application will have bright chances of success in the market in both terms, i.e. Userbase and generating revenues.
