Earning Money from Mobile Apps: What Pitfalls to Avoid?

It’s no secret that app store products aim to generate revenue. Yet, companies approach this goal differently. Some produce paid apps, others turn to multiple subscription tiers, and many explore the free or freemium models.

Whichever strategy is chosen, the intention remains the same, and its execution should meet users’ expectations. This article discusses some of the most common flaws in app creators’ efforts to generate revenue.

Pitfalls to Avoid While Earning Money from Mobile Apps

Skipping Market Research

How companies monetize mobile applications directly relates to the industry and the app’s purpose. Some strategies work better for particular products, while others might seem bizarre and unwelcoming.

Skipping market research

For example, in-app purchases are typical for mobile games, but this strategy might need to be revised for other products. Additionally, a workout or meditation app using frequent ads for monetization could discourage people from using it as it interrupts the app’s goal.

Thus, see what works for your particular application and follow the example of leading competitors.

The Push to Convert

Some applications quickly tempt new users with various enticing offers (like limited-time discounts on yearly subscriptions). Yet, users can only be willing to convert after testing the application and seeing if it meets their expectations.

Frequent banners or paywalls can be irritating and have the opposite effect than intended. So, it’s best to give people time to familiarize themselves with the app. For instance, a 30-day money-back guarantee does give users plenty of time to judge the app’s value.

Promotion Pitfalls

All developers believe in having the best product on the market. Yet, it is essential to provide a clear understanding of the app’s functionality. Use precise language in product marketing instead of using abstract statements (like saying that your app is the best).

It relates to immediately showing what problem the product solves and how it might be better than others.

Not Exploring New Strategies

Everything related to app development and marketing evolves. App monetization is no different, and more options for less disruptive tactics emerge. Many developers might be quick to turn to ads for their app revenue. Yet, it’s worthwhile to explore the usefulness of various SDKs (Software Development Kits).

You might already use different software-building tools to expedite the development process. Now, SDKs can be highly helpful in monetizing applications as they focus on preserving the users’ experiences while allowing developers to generate revenue.

Missing Out on App Store Optimization

Missing out on app store optimization

Your product’s visibility in app stores cannot be underestimated. For any option to earn money via your app to work, you need to have users. Thus, when creating your app listing on the app store, perform the necessary keyword research and use them.

For instance, it’s crucial to include your primary keyword in your title and multiple times across the listing. Besides producing an inviting description, don’t forget the visuals. Showcase screenshots from the app and clearly emphasize the main selling points.

Regular updates can also determine your ranking, as well-maintained applications have a better chance of getting higher positions. Lastly, encourage your users to add reviews to your app and be professional and helpful when responding to their feedback.

Don’t Focus Solely on New Users

Hitting those new install goals can be a pleasant milestone. However, besides bringing users to your app, you need to focus on how to keep them. That includes steps from making your app easy to navigate to meeting expectations.

Drop-offs might occur if people install applications based on misleading information on the app’s promotions. Without getting the value they expected, the users likely abandon the product.

Additionally, maintain healthy communication with your user base. For example, a regular newsletter might help clients learn about new features or changes within the software app.

Conclusion

Turning your app into a profitable success can require many tests on the most suitable ways to monetize it. Luckily, market research can provide many insights, guiding you along the way. However, consider experimenting with different methods of boosting user experience, which, in turn, can mean more conversions or profits from various monetization strategies.

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Christy Bella: Blogger by Passion | Contributor to many Business Blogs in the United Kingdom | Fascinated to Write Blogs in Business & Startup Niches |