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The mobile app is a booming industry which has no limit on growth. If you can utilise these top ten techniques, then the sky's the limit. However, it has a dark side too that only a few percentage of apps can rank in the top and make most out of it. 
Those who are ahead in the league they earn in millions and those who can target their niche can still make good money, but the majority of the apps are not even able to see a continuous flow of revenue. Like the great Steve Jobs said it’s not just about the idea. If it was the case, then Xerox may have been ahead of Apple today, but it’s more about the execution. However, there is another layer added to this, that no matter how good your idea is if you can’t sell it then it’s worthless. Yes, marketing along with an excellent idea, execution and professional mobile app development are the key to earning good amount of money in this area. 
There are several types of apps you can develop like music, education, lifestyle, business, games, news, etc. You can aggregate content from different outlets and make it one app like Feedly, Netflix, Scribd, etc. Now comes the main point of this i.e. monetization techniques - so these are the methods you can apply to monetize your app:- 
Email Newsletters
You don’t own Google Play or App Store, but you own your email audience. Gradually with newsletters, you can earn the trust of a good percentage of the target audience and make them pay for additional features. You can also give them your first app for free and utilise this audience base to sell upcoming apps with a new idea and fresh content. Remember it’s all about finding new ways to monetise as audience consider an app for free usage these days so you have to prove them that you deserve their money. In reality, you do because you’re working hard every day to make a living out of it. 
Hosting another ad through Google Adsense or Google Network can display some targeted ads to your audience which in return can generate revenue through clicks. 
Paid Apps 
Like I said people would not easily pay for regular apps which they don’t find worthy of spending however if it serves a useful purpose whether it be fun or productivity they would love to pay for it. Market it right because when people have a connection with you through e-mail or social channels, they like to support you. 
In App Purchases or Freemium apps
Getting upfront money without usage is tough but not in-app purchases. It is the way most apps can make money these days. Put some free credits in a game app or give their profile a boost in dating apps and so on. The possibilities are endless. 
The top method through which big app companies earn in millions is through subscriptions. You can aggregate all the content like news or music or video or even books and charge a monthly or yearly subscription for that. Ex. Netflix, Tinder, Scribd, Spotify, etc. Through this method, you can give one month free to the person joining you by referral links and also to the referral. Another tactic is the first-month-free trial or just for $1 like Spotify did.
In this method, you partner with an advertiser who provides rewards to your users for completing certain actions in the app. You can also partner with payment gateway apps like PayPal or Stripe and provide their users discount on something for the first time. 
Licensing Code 
You as a developer provide your strong code framework to other developers for some money. It’s like recycling your code. 
Content Focused App 
Rather than giving content for a subscription, you can sell each piece of content alongside offer some free stuff. The model is rightly adapted by Udemy which sells online courses, some for a hefty price tag. Another example is paying for each click some cents like New York or Financial times do for their news. However doing this with news content is tough in an era of free stuff. They are key players in this game so they can do it, but for smaller apps, this is too far fetched. 
eCommerce Apps 
Only make an eCommerce app and start selling merchandise, crafts, painting and all sorts of physical items. Key players in this arena are Amazon, Etsy, Shopify, etc. 
SMS Marketing 
SMS Marketing is also one of the effective ways to be in touch with your loyal audience and hold a contest, give them some freebies which they can use for processing action in your partner app, get real feedback, etc. 
These were the top ten mobile app monetization techniques that you can use in 2016. But, the method you should opt in for, depends on your type of business, your credibility and user base, etc. 

Published: Dec 7, 2016 8:45pm by marcus.

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