4 Steps To Building The Perfect App Monetization Model For You!
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The document outlines four essential steps to create an effective app monetization model, addressing common myths about app revenue. It emphasizes understanding the problem being solved, identifying unique features, considering key factors related to user engagement, and choosing an appropriate monetization strategy. Various monetization options such as in-app advertising, freemium models, and subscriptions are discussed with recommendations based on app type and user interaction.
4 Steps To Building The Perfect App Monetization Model For You!
- 1. 4 STEPS TO BUILDING THE PERFECT APP MONETIZATION MODEL FOR YOU! Hashmi Rafsanjani
- 2. MNPER DAY
- 3. FIRST, LET’S BUST SOME MYTHS! MYTHS 1. THE BEST WAY TO MAKE MONEY IS TO CHARGE FOR IT! 2. I CAN MAKE THE APP FREE BUT THEN CHARGE FOR EVERYTHING! 3. ADS ARE EVIL, THEY DISRUPT UX! 4. I DON’T NEED TO LOCALIZE MY APPS! ADDS
- 4. FIRST, LET’S BUST SOME MYTHS! REALITY 1. FREE APPS MAKE MORE MONEY! 2. CHARGING FOR EVERYTHING DECREASES LTV! 3. APPS ARE ENGAGING SO ADS ARE OKAY! 4. LOCALIZED CONTENT RULES! ADDS
- 6. 1. WHAT PROBLEM ARE YOU SOLVING? SECOND, IDENTIFY THE 4 WHATS
- 7. 1. WHAT PROBLEM ARE YOU SOLVING? 2. WHAT’S UNIQUE & WHY WOULD THEY PAY? SECOND, IDENTIFY THE 4 WHATS
- 8. 1. WHAT PROBLEM ARE YOU SOLVING? 2. WHAT’S UNIQUE & WHY WOULD THEY PAY?3. WHAT ELSE WOULD THEY WANT TO PAY FOR? SECOND, IDENTIFY THE 4 WHATS
- 9. 1. WHAT PROBLEM ARE YOU SOLVING? 2. WHAT’S UNIQUE & WHY WOULD THEY PAY?3. WHAT ELSE WOULD THEY WANT TO PAY FOR? 4. HOW HAS COMPETITION DONE? SECOND, IDENTIFY THE 4 WHATS
- 11. THIRD, CONSIDER THESE 14 FACTORS! • ARE YOU GOING TO COLLECT A TON OF DATA ON YOUR USERS? • WILL ADDS TAKE AWAY UX? • DO YOU WANT TO BE PART OF A LUCRATIVE & GROWING AD INDUSTRY? • ARE YOU A GAMING APP, OR HAVE LEVELS & ADVANCED FEATURES ALREADY? • HOW LONG ARE YOUR SESSIONS? • CAN YOU BUILD A BASE QUICKLY AND HOOK THEM ON? • WHAT’S THE RIGHT BALANCE BETWEEN FREE & PAID UX? • ARE YOU A RETAIL OR SERVICES APP? • DO YOU HAVE A CLEAR OPP TO INTRODUCE GOODS IN YOUR APP? • ARE YOU WILLING TO LET APP STORES/OPERATORS TAKE A CUT? • ARE YOU LOOKING TO EXPLORE EVERY MARKET? • DO YOU PREFER A DISCREET STRATEGY? • DOES YOUR APP REWARD ACTIVITY EASILY? • YOU WANT TO CONNECT OFFLINE AND ONLINE ACTIVITY?
- 13. FOURTH & FINALLY, CHOOSE CAREFULLY! • FREE (IN-APP ADVERTISING) • FREEMIUM • PAID APPS • IN-APP PURCHASES • PAYWALLS (SUBSCRIPTIONS) • SPONSORSHIPS (INCENTIVIZED ADVERTISING) • APP PROMOTIONS • SELL APP DATA OR SOURCE CODE • MIX & MATCH
- 14. FREE (IN-APP ADVERTISING) IS NOT FOR NICHE OR UTILITY USAGE YOU REGULARLY COLLECT USER DATA IF NO ORGANIC OPP FOR IN APP PURCHASE IF YOUR APP, FREE WITH IN-APP ADVERTISING EXAMPLE,
- 15. FREEMIUM PROVIDES A GREAT FREE APP UX YOU HAVE LEVELS & LONG SESSIONS YOU’RE A GAMING APP IF YOUR APP, FREEMIUM EXAMPLE,
- 16. PAID APPS DEPENDS ON SEAMLESS UX FOR SUCCESS IS REALLY INNOVATIVE AND UNIQUE USERS ARE LIKELY TO PAY AND ENGAGE ACTIVELY IF YOUR APP, PAID APPS EXAMPLE,
- 17. IN APP PURCHASES YOU DON’T MIND APP STORES TAKING A CUT GOODS WITH CLEARLY DEFINED VALUE RETAIL OR SERVICES APP IF YOUR APP, IN APP PURCHASES EXAMPLE,
- 18. PAYWALLS (SUBSCRIPTIONS) IS A NEWS, LIFESTYLE, ENTERTAINME- NT APP HAS LONG USAGE DURATION AND SESSIONS REQUIRES A CONTINUAL FLOW OF USAGE IF YOUR APP, PAYWALLS (SUBSCRIPTIONS) EXAMPLE,
- 19. SPONSORSHIPS (INCENTIVIZED ADVERTISING) CONNECT OFFLINE & ONLINE WORLDS EASILY REWARDS IN APP ACTIVITY PREFERS A DISCREET PLAN IF YOUR APP, INCENTIVIZED ADVERTISING EXAMPLE,
- 21. BUILD ON!