The Game-Changing Potential of Augmented Reality for Businesses
- 13.11.2024
A mobile app can be a great source of income for a business. Unfortunately, not all mobile apps make money and the cost of an initial build may not be recouped for quite a while which can cause a problem for those that rely on this for a source of income. It’s also key that you select the right form of monetisation for your app in order to ensure that you make the most of the resources available to you without causing disruption or inconvenience to your user base. There are a multitude of ways in which a mobile app can generate income:
The vast majority of apps on the store are completely free. Of course, there are free apps that make ridiculous amounts of money even though they don’t charge an upfront fee for their use but it can certainly make it more challenging to quickly earn income if there is no charge for use. Paid apps differ slightly as they require a charge for use which ensures that with every user for the app provides income for the business. By asking for an upfront fee, your app is likely to dissuade some users and – if there is a free alternative on the market – you may see users go elsewhere in order to save money.
One of the most frequently used methods of generating profit within a mobile app is to offer advertising space. If users have already paid for the use of the app, they are likely to be unhappy if there are also ads plastered everywhere across the UI which is why this method is commonly applied for free apps. As the app grows in popularity and attracts more users, that advertising space becomes worth more and is likely to attract larger organisations for partnerships. Advertising space is frequently rented out on a monthly or yearly basis which makes it a great way to earn ongoing income.
If you’re familiar with the mobile gaming sector, you’ll be aware that in-app purchases are an incredibly common thing. Whether it be to purchase a new character, unlock a ‘pro version’ of the app, or gather virtual currency, in-app purchases are quickly becoming commonplace within both paid and free apps. In-app purchases can be a great way to offset developer costs if the app is experiencing regular updates while also bringing in a bit of extra income.
There are so many different types of subscriptions available online in the modern day and there’s no reason why your app can’t join in on this if it can offer a steady flow of high-quality content. It is worth noting though that not every type of mobile app is suited toward a subscription model and without being able to provide some value for the subscribers you are likely to see a quick drop-off in users.
If you are looking to develop a web or mobile app or have an idea that you’d like to discuss, then get in touch and speak to one of our expert UK based development team members.
We’re always happy to discuss new projects, whether big or small.
You can get in touch via 01926 520 052, email, or using the contact form on our contact page.
