The advancement in Smartphones has evolved the demand of mobile users. An individual looks at his mobile phone as a platform to mingle with various applications. With this enhanced demand, mobile app development has become a new center of attraction for many IT companies. Developers as well as businesses, both look forward to earn highest returns on investment in the near future and within a short span by indulging in mobile app development.
A mobile app can generate income in various ways. However here are few tricky ways laid down by experienced IT professionals that will lead you to highest revenues:
A single app can comprise of multiple features that will engrain attention of the user in the app along with earning revenues for the business. The best part of mobile app development is that a business can a earn profit over paid as well as free apps depending upon the app’s user-friendliness.
Read on to know which are the highest and the lowest revenue earning models for your mobile app development business:
HIGH RETURN ON INVESTMENT GENERATING WAYS
Subscriptions will be a base or support to staunchly sell your product or service. With every subscription to your updates, you have a chance to send the user best of your product discounts and deals.
iPhone has made a distinct mark in mobile phone industry by offering its users in-app purchases. Similarly, Android is also promoting this concept to build more revenues. This will promote user satisfaction if at all he is satisfied with your app.
Freemium is a facility where user has free access to the interested application. However he is charged if he intends to access additional features associated with that application. This is also a great means to earn returns over your investment. One such popular app following this means to earn revenue is ‘Evernote’. Free access to the most likely app increases its popularity as well as becomes addiction for the user. Once their interest is grabbed, you can ask them to pay for taking advantage of the advanced features.
LOW RETURN ON INVESTMENT GENERATING WAYS
Promotion Through Advertisements
Advertising can be done for all the possible apps exiting or coming up in the market. Needless to mention, how easy means it is to make revenues! However it is a low paying income model. The trick is how to make use of this key factor. Whenever the user is running your app, you can pause them to know what new product or service you have for them to offer.
Pay Per Download
This is particularly for paid apps. A business benefits every time a user downloads their application. Every download pays them.
Mobile app development has a wide scope in future to generate income at a faster pace in short duration.
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