Whether you are a business, startup, or entrepreneur, there can be many different reasons for developing a mobile application. A few say that they want to create a product that will help the users and will make the world a better place to live, while the others are focused on the wide range of audiences who now use a smartphone to even order groceries.
After spending time and money on the app, it is obvious that you will expect to generate money by it. Thus, in this article, we will focus upon only this aspect i.e. how to make money through a mobile app. This is Chapter 2 of the article, please go through Chapter 1 before reading this. We will continue Chapter 1 and will discuss the monetization strategies that will involve third parties.
In-App Advertising
You must have seen advertisements on every different mass communication platform like websites, YouTube, television, newspapers, hoardings, pamphlets, etc. The platforms or items which are seen by lots of people start getting paid advertising. The mobile apps are no different. In mobile apps, you can incorporate advertising to make money. The apps which have advertising are generally free however, they indicate the presence of ad pop-ups. In order to get paid ads on your mobile app, you have to first make it popular. The number of downloads of your app shows its popularity. After your app gets popular, you can choose an advertising network, and implement its SDK on the app.
You can also opt for which type of ads you want to display on your app. The only con of this app monetization strategy is that sometimes it turns backward when the users get frustrated by the frequent ads. It can lead to the bounce rate of your app. Thus, you should maintain the frequency & the format of the app.
Here are the different types of in-app advertisements
1. Interstitials
You must have seen the full-screen ads which cover the whole mobile screen, these ads are called Interstitials. These ads can appear randomly whenever the user is using the app such as while reading an article or watching a video. They are not that much frustrating because the user can interact with those ads by clicking on them. They will be redirected to another page or can simply close the ad. This strategy will not only help you to make money but it is also a safe play as most of the users understand that an app needs ads to survive & make money. But make sure that only the relevant ads are appearing and don’t disturb the flow of UX.
2. Banners
You can find banners on almost every app and the reason is obvious that they are easy to deploy. But banners generate less revenue in comparison to the interstitials. They are presently mostly on the homepage of the app. Many UI developers use a trick while deploying the banners. They place the banners just right after the UI buttons.
Both the mobile app platforms Google and Apple have fixed the size of the banner which is as per the screen size of the device. However, there are smart banners that are evolving continuously. They can adjust the size as per the screen’s size. To know more about smart banners, go through this article. Apple came with its own smart banner to promote the app on the mobile Safari. Thus, if there is an existing site of your business, then the banner will appear on the top of your website for promoting the mobile app. Know more here.
3. Video Ads
Video Ads are on the rise in in-app advertising. The video ads are quite similar to the interstitial. While interstitials are just an image, these are complete videos by which the users can get more information about a product, app, or service. It is a great way of advertising thanks to the Sneak peek factor, and Time-Saving.
A video ad will always create a better impact on users than other different formats of in-app advertising. Users get well-informed through a video ad and know what a product or service does. Not only the advertisers get benefits but also the publishers. Video ads are having the highest click-through rates among all different ad formats. There are many video advertising formats.
Sponsorships
Sponsorship is quite a new monetization strategy. In this strategy, the users will get rewards whenever they watch a complete ad by the advertisers. The rewards can be either virtual money in mobile games or even real money. There are two benefits to this strategy. The sponsor is fully assured that the ad is being completely watched by the users and the users also don’t get frustrated as they are getting attractive rewards for it.
Networks of Advertising
For making money through advertising, you have to get ads on your mobile app. For this, you will be needing help from the advertising networks. The advertising networks can help you in promoting the app so your app will get ads from the agencies.
Some of the best advertising networks are Admob and iAd. A developer can use the SDKs of them to
integrate an ad broadcasting feature on the app. The developer can also choose the ad format which he feels most appropriate. Some of the other advertising networks are Appnext, adCash, and AppLift.
Wrapping Up
So finally we have understood all the ways by which you can earn money through mobile apps. Mobile apps are continuously on the rise and there is huge competition in every industry niche. At Appquipo, the best mobile app development company in India, we are having expertise in developing astonishing mobile apps with great UI & UX. Whatever will be your industry niche, we will develop a fast and secure mobile app. Let us know your requirements.
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