Saturday, November 23, 2013
Friday, November 22, 2013
Mobile app monetization Best practices
App Monetization Best-practices for Developers
So finally as the Mobile Advertising comes of age Mobile App Developers eventually caught wind on how much money is really possible creating great mobile apps. However, the issue isn’t an abundance of great application ideas. The issue lies with Devs not understanding how to properly optimize their apps therefore not being able to retain revenue for ongoing development. Today, I want to address this problem.
Time and time again when we offer customized mobile app monetization strategies and marketing plans for Mobile App Devs, we realize that they typically wander off the beaten path. Hooray, you built a great app and got numerous downloads in your first month, but wait… Where’s the revenue? You’re brilliant app idea doesn’t behave like a cash cow. Your monetization tactics do!!
Frankly, I’ve seen a lot of absurd hype within the Mobile Apps Industry. Just like everything else, there is no free lunch.If you think building an awesome app is going to land you a new Lambo or mansion, you’re barely even scratching the surface of what’s possible.
So let’s talk about app monetization. Let’s get right to the point.
One of the suicidal mistakes I notice mobile app developer’s making is pricing their application incorrectly. Now if you decide to offer your app at a cost, you really need to consider what the actual value of your application could be. Is it really worth people spending $3-$4 for it? Put yourself in the customer’s situation for a moment. If I asked you to pay that amount for my app, what would you really do? Before setting a price on your apps ask yourself a few questions like:
- What value does my app add?
- What are the USP’s of my app?
- What are the real benefits of my app?
- What apps similar to mine already exist?
- What are the price points of these apps compared to mine?
- How many downloads have they already generated?
- Which category does my app falls in?
- How can my app aid people?
- Will people use my app on a regular basis?
Monetization rate is going to vary based on a lot of factors. Geography, age groups and demography are also factors which needs to be considered. Please find below some of the mobile app monetization strategies developers can start putting into practice right now:
1. Pay Per Download – Paid downloads work as users pay up-front to download your app once it’s available in one of the app markets.
2. In-App Advertising – One of the most popular among mobile app developers. In-App Advertising works by allowing ads run on space sold within your app and revenue is based on number of user impressions and/or clicks
3. In-App Purchases – In-App Purchases work by allowing users additional purchasing privileges, badges or subscriptions inside the app once they’ve downloaded it.
4. Sponsorships – Sponsorships can work by individuals or businesses basically under-writing your app in exchange for recognition type benefits. An example of this would be maybe an ad or logo within your app. These work best for Local + Event focused apps and narrow focused audiences
Icon Ads: Similar to the pre-installed apps which come with a new smartphone, Icon Ads are sponsored shortcuts (icons) placed on the home screen of an opted-in user’s device
Dialog Ads: Ads are displayed as a dialog box inside an app, presenting the user with a 1 sentence call-to-action along with an OK and Cancel button.
OfferWall Ads: Ads for individual promotional offers are placed in a single in-app interstitial and can be selected by a user for participation. Advertisers pay on a CPC or CPA basis.
Video Ads: High-quality Video Ads are streamed in-app.
Rich Media Ads: A full landing page is embedded inside an app, with a fixed close button at the top. Advertisers can build rich experiences which are directly embedded in another app.
Full-Page Banner Ads: Ad is displayed as an in-app interstitial to users, with a fixed close button at the top. Advertisers pay on a CPC basis.
Full Screen Ads: We at AdIQuity have recently launched Ads `eN` velope SDK that helps developers earn much more by showing full screen ads pre & post app starting.
In mobile advertising,(like with any) it is all about delivering the users with the relevant ads. Targeting users based on location and content they are viewing is just considered the essentials. Doing this will help increase the number of clicks, conversions and gross revenues from your apps.
For In-App Advertising, here are a few key things to remember:
- Text Ads / Text Banners should always get their own dedicated screen within the app
- Make sure to “merge” the ad to look like part of the app in terms of original design – It’s less intrusive
- Apply Frequency Caps –Only allow ads to show enough to get attention not annoy the app’s users
So, I hope this post helps you monetize your apps to the max, do write to me on sanjay@adiquity.com for more help on your app monetization. (Author is a Developer Monetization Evangelist with AdIQuity)
Mobile App Value Add
How Mobility can Add Value to your Business
Since the launch of the Apple App Store in July 2008, the popularity of mobile apps has skyrocketed as a new, innovative way for users to interact online. For many people, apps are becoming the most popular means to use the internet, whether for email, games, reference, or other uses. App downloads for the Apple iPhone, Google Android, and BlackBerry have all grown rapidly since their launch, with Apple reporting over 10 billion iPhone app downloads to date in January 2011. Other companies, including e-retailer giant Amazon, are also seeking to profit from the popularity of custom mobile apps with their own smartphone app markets.
Many businesses are beginning to recognize the value of mobile app technology as a marketing tool to attract customers. With the mobile app market growing so rapidly, it is becoming increasingly important to know how to make your app stand out among the rest. To get the most out of apps as effective marketing tools, your app must resonate with potential clients by offering three outstanding qualities: functionality, creativity, and searchability.
Functionality
What makes mobile apps so attractive to many is that they offer a more personalized internet experience. Instead of having to open a web browser and type in a specific web address, apps give you access to the site or application of your choice at the touch of a button. What sets great apps apart from the rest, however, is the level of functionality. In order to catch on with users, an app has to be able to do something that is useful or interesting to the customer. With so many to choose from it is easy for potential users to overlook apps that don't offer some direct benefit. Before taking the time and money to develop an app for your company, ask yourself: What service can your business offer through a mobile app that would make it valuable to users?
The restaurant industry is a great example of an industry that is poised to benefit greatly from mobile apps. A custom restaurant app can allow users to instantly view the venue's full menu, hours, and location. An interactive map could offer turn by turn directions, all accessible instantly from the user's phone. Some smartphones allow users to instantly scan QR barcodes to access all types of encoded information directly on their phones. All of these details make an app functional and worthwhile for current and potential customers, giving users the ability to instantly access key information about your business.
In the increasingly competitive world of mobile apps, another important part of making your app functional and relevant is providing regular updates. Just as a website will languish if it is not updated from time to time, an app can easily lose its appeal if it remains stagnant. The potential uses for mobile apps seem to be constantly growing and evolving, and staying on top of current trends is crucial to successfully marketing your business to app users. The app should regularly update and share new information with the online community, gaining new capabilities and uses over time. For restaurants, this could mean using your app to regularly share seasonal menu items, promote special events or daily deals, release happy hour specials, and more. An update on your website requires users to access your site through a browser, while a downloadable app puts your updates directly at your customers' fingertips.
Creativity
Equally important as function is the design of your mobile app. If the look and feel of your app does not appeal to customers, it may not attract many users. Perhaps most importantly, an app icon should be visually appealing and identifiable, acting as an extension of your company's brand. An attractive, well-designed app that has the “cool factor” can draw in potential customers and convince them to learn more about your business and what you offer. When considering a design for your app icon and app, consider how the appearance and layout will help to present a positive and appropriate image for your business.
One of the greatest advantages of a creative and intuitive app is its potential to go viral. The “viral effect” is a powerful phenomenon among mobile apps, videos, and other free or low-cost media. If you are able to develop an app that provides some sort of appeal or entertainment that inspires users to share it with others, your business could benefit greatly from the widespread exposure created by a viral app. Instant connection to a broader customer base is one of the powerful benefits of creating an app for your business.
In addition to the direct customer contacts that you make through a mobile app, just having a creative and interesting app can indirectly benefit your company. Many customers today are interested in finding businesses that are in tune with their customers, their interests, and how they communicate. Having a mobile app not only gives your business one more way to connect with customers but also shows that your business is keeping up with the latest trends or even leading the way.
Searchability
As important as functionality and creativity may be to getting the most out of your app, these qualities will matter little if your app cannot easily be found among the millions of other apps available. As of now, the Apple App Store is designed so that mobile app names are exclusive. Once someone makes an app for “New York Chinese restaurant”, for example, no other business will be able to use the same title. Those who do not reserve a mobile app name early may be forced to choose from titles that are overly specific or that do not accurately describe their business. Choosing a relevant name that includes keywords for your geographic location and business type could be a wise investment as mobile apps increase in popularity. This type of keyword-based title also makes it easier for new customers to find you, even if they have never heard of your particular business.
As the number of apps increase and more people become accustomed to using apps, turning to the app store to conduct searches for businesses and services may become as commonplace as using search engines like Google. Those businesses that have been quick to act to develop a functional, creative custom app are poised to benefit the most from this transition. Even if apps never entirely overtake web browsing as the most popular way to access the internet, a mobile app will still be a valuable tool that provides one more way for a business to connect with its customer base.
But How to "get it done"??
Please contact me at sanjay@adiquity.com for Mobile Advertising solutions. We cater to global clientele with cross platform mobile apps monetization
Many businesses are beginning to recognize the value of mobile app technology as a marketing tool to attract customers. With the mobile app market growing so rapidly, it is becoming increasingly important to know how to make your app stand out among the rest. To get the most out of apps as effective marketing tools, your app must resonate with potential clients by offering three outstanding qualities: functionality, creativity, and searchability.
Functionality
What makes mobile apps so attractive to many is that they offer a more personalized internet experience. Instead of having to open a web browser and type in a specific web address, apps give you access to the site or application of your choice at the touch of a button. What sets great apps apart from the rest, however, is the level of functionality. In order to catch on with users, an app has to be able to do something that is useful or interesting to the customer. With so many to choose from it is easy for potential users to overlook apps that don't offer some direct benefit. Before taking the time and money to develop an app for your company, ask yourself: What service can your business offer through a mobile app that would make it valuable to users?
The restaurant industry is a great example of an industry that is poised to benefit greatly from mobile apps. A custom restaurant app can allow users to instantly view the venue's full menu, hours, and location. An interactive map could offer turn by turn directions, all accessible instantly from the user's phone. Some smartphones allow users to instantly scan QR barcodes to access all types of encoded information directly on their phones. All of these details make an app functional and worthwhile for current and potential customers, giving users the ability to instantly access key information about your business.
In the increasingly competitive world of mobile apps, another important part of making your app functional and relevant is providing regular updates. Just as a website will languish if it is not updated from time to time, an app can easily lose its appeal if it remains stagnant. The potential uses for mobile apps seem to be constantly growing and evolving, and staying on top of current trends is crucial to successfully marketing your business to app users. The app should regularly update and share new information with the online community, gaining new capabilities and uses over time. For restaurants, this could mean using your app to regularly share seasonal menu items, promote special events or daily deals, release happy hour specials, and more. An update on your website requires users to access your site through a browser, while a downloadable app puts your updates directly at your customers' fingertips.
Creativity
Equally important as function is the design of your mobile app. If the look and feel of your app does not appeal to customers, it may not attract many users. Perhaps most importantly, an app icon should be visually appealing and identifiable, acting as an extension of your company's brand. An attractive, well-designed app that has the “cool factor” can draw in potential customers and convince them to learn more about your business and what you offer. When considering a design for your app icon and app, consider how the appearance and layout will help to present a positive and appropriate image for your business.
One of the greatest advantages of a creative and intuitive app is its potential to go viral. The “viral effect” is a powerful phenomenon among mobile apps, videos, and other free or low-cost media. If you are able to develop an app that provides some sort of appeal or entertainment that inspires users to share it with others, your business could benefit greatly from the widespread exposure created by a viral app. Instant connection to a broader customer base is one of the powerful benefits of creating an app for your business.
In addition to the direct customer contacts that you make through a mobile app, just having a creative and interesting app can indirectly benefit your company. Many customers today are interested in finding businesses that are in tune with their customers, their interests, and how they communicate. Having a mobile app not only gives your business one more way to connect with customers but also shows that your business is keeping up with the latest trends or even leading the way.
Searchability
As important as functionality and creativity may be to getting the most out of your app, these qualities will matter little if your app cannot easily be found among the millions of other apps available. As of now, the Apple App Store is designed so that mobile app names are exclusive. Once someone makes an app for “New York Chinese restaurant”, for example, no other business will be able to use the same title. Those who do not reserve a mobile app name early may be forced to choose from titles that are overly specific or that do not accurately describe their business. Choosing a relevant name that includes keywords for your geographic location and business type could be a wise investment as mobile apps increase in popularity. This type of keyword-based title also makes it easier for new customers to find you, even if they have never heard of your particular business.
As the number of apps increase and more people become accustomed to using apps, turning to the app store to conduct searches for businesses and services may become as commonplace as using search engines like Google. Those businesses that have been quick to act to develop a functional, creative custom app are poised to benefit the most from this transition. Even if apps never entirely overtake web browsing as the most popular way to access the internet, a mobile app will still be a valuable tool that provides one more way for a business to connect with its customer base.
But How to "get it done"??
Please contact me at sanjay@adiquity.com for Mobile Advertising solutions. We cater to global clientele with cross platform mobile apps monetization
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