Increase Profits With A Mobile App

HOW TO MONETIZE YOUR APP

When investing in your company, it's always important to ensure that you're getting a return on your investment. Having a Mobile App will not only pay for itself but also provides a number of ways in which you can increase your income stream. Here are some of the most popular ways to monetize your mobile app.

Loyalty Points

If you have a walk-in location (office, store, salon, restauraunt or other establishment), Loyalty Rewards is a great feature to have in your app. This is a digital version of a traditional stamp card. Each time your customer makes a "qualified" purchase, you enter your code and offer a reward after the set number of stamps. This is an incentive for customers to rack up their loyalty points so they can redeem them.

In-App Purchases


Having a shopping cart in your app so users can purchase your products and services on demand is the most common way for companies to make money through apps. This could include virtual goods such as reports, podcasts, speeches, ebooks, and tickets to events - or selling physical products such as shoes and clothing, accesories, electronics, and other items that would be scheduled for pickup or either shipped to the buyer. This allows your customers to shop at their own convenience - wherever they may be: at the beach, traveling, in a boring boardroom meeting, stuck in traffic, wherever!


Subscriptions


A trending practice is to offer subscription-based services in your app. This allows app users to enjoy full app functionality and view a predetermined amount of content for free, but then prompts them to sign up for a paid subscription for membership, additional content, or unlimited access. For example, your users download your app for free and have access to a monthly featured article, but will sign up for a subscription if they want your "how to be successful program" or unlimited access to all of your programs and articles. This is best suited for service-based companies and it allows you to earn revenue on a recurring basis.


Sponsorships


In order to gain exposure to your clients, some businesses will sponsor your app. In some cases, they may want to offer specials, value added services, discounts, or other incentives. Either the sponsor pays you for advertising through your app or you share in the revenues with redeemed rewards or purchases made through the app.


These just few of many ways to increase revenues and profits with your mobile app. There are a number of additional options and approaches that may be better suited for your company, so It's best to consult one of our strategists for a customized plan for your partucular business and industry.


After launching your Mobile App, we provide you with a customized plan to market your app and make money through the app, based on your business goals.



WSTI App-n-money.png

Featured Posts