Developing an iOS app is already a challenge, as applying for a spot on the App Store means beating a lot of competition (the company receives about 10 000 applications a week). Supposing you've got your approval, why not try and make your product lucrative? With the right strategy to monetize iOS applications, there is a high chance of substantially increasing your revenue.
Common iOS app monetization strategies
The following are some of the most popular ways to make money on your iOS product:
- sponsorship
- one-time paid application
- freemium application
- paid in-app features
- in-app advertising
Each of these has its pros and cons, and here we would like to give a brief outline of the most effective in our eyes.
Paid applications, freemiums, and sponsorship
Charging for the use of your product seems to be the most established and certain way of iOS application monetizing since it offers a certain income on a stable basis. Yet, this path is advisable for developers who are sure that their product is good enough to make the users pay for it and choose it among its free competitors. In addition, you have to be ready to look for new customers again and again as the number of those willing to pay is going to decrease with time. Nevertheless, the App Store audience is more prone to pay for an app, and provided you have faith in your product, it is worth trying.
Another way is to introduce several paid features and let the users decide whether they are willing to cash out on the benefits on offer. This method is considered to be a better option for new market players – with the right balance of free and paid content you will make your iOS app monetization smooth and running.
The freemium model is similar to the abovementioned. It offers the users two versions of the same application, the paid one being more extensive and offering more services. If you go for it, remember: your paid content needs to be strong not to attract bad reviews.
iOS application monetization with ads
Mobile advertising is all the craze right now. There are lots of types offered, and the money invested here is worth doing it. Apart from simply demonstrating selected ads regularly, you can interact with your audience. This way, it will be them who choose whether to watch the ad or not. Playable ads are one more step forward as sometimes they do not feel like advertising, and rather as an “app within the app” experience. Modern partnership models in the sphere include cooperation via various CPM networks (Cost per Mile) where you are going to be paid per each thousand impressions that an ad gets on your page. This is one of the most rapidly growing trends which works on the basis of programmatic advertising algorithms powered by artificial intelligence. The ad inventory is purchased in the course of real time bidding (RTB) and the whole process takes literally a fraction of a second. In simple words, with the help of this technology, publishers compete for the best inventory within their price range.
You can find a whole array of instructional materials on how to monetize apps for iPhone with ads, but it is always better to save your time and, in most cases, money if you ask for professional advice. Adsgard's team is highly qualified and has numerous strategies which can be optimized to suit your needs. A certain amount of determination from your side combined with our advanced technology is the most efficient iOS app monetizing strategy.
