The virtual gold mine that is the mobile app phenomenon is not without its nuances and bespoke methodologies.
In fact, one of the most salient questions that a company will have to answer at the outset of a monetized app’s development is just how “exactly” it is going to make money.
As with everything, there are many revenue models with some being better suited to particular niches and industries than others.
When it comes to app developers, Orange County’s Orange Web Group understands all of the current market monetization strategies from both a business and technical standpoint.
In terms of low-cost app developers that help deliver huge returns for their clients, Orange Web Group works in collaboration with its partner clients to help them choose an optimal monetization scheme.
We will review some of the top monetization strategies that we think could be a fit for your app company.
Orange County’s unique location in Orange County not only puts it within proximity of cutting-edge tech, but also new and innovative leading strategies for marking money through apps, so don’t be surprised if you see something here that you haven’t thought of before.
Probably the easy strategy to understand is the traditional one-time payment for an app’s use. You could charge for later upgrades but, typically, this is a closed-loop strategy that could provide large up-front benefits but may not result in sustainable revenue.
A popular strategy that is employed with both paid and free apps is the in-app purchase. A popular method is to use a free app as a download and then expand functionality with in-app add-ons. This results in a bespoke customer experience and an app that is optimized to their needs.
Another strategy that is used with free apps but is pretty unpopular with paid apps is the in-app advertising model. There’s little to explain about this and, like website and other ad-revenue models, there are multiple networks to join.
User Subscription (SaaS)
One of the fastest-growing segments of the monetized app world, user subscription and software-as-a-service models provide reliable revenue over time that can finance app upgrades. This model rests upon a quality and compelling experience that cannot be obtained anywhere else thus putting the onus on both the company and the developer to come up with someone that is capable of convincing a potential customer to sign on for an extended period of payments.
Brand sponsorship often involves a one-time or ongoing set of payments in order to sustain an app. This could be either with one company or multiple, related but non-competing brands. This model is quite complex the more partners you add to the mix but it could also provide huge returns with a captive audience that the app can market to in the future.
Affiliate marketing is where you sell the products of other companies for a cut of the final sale price. Because this kind of model requires coordinating with outside vendors and their technology, an expert developer that has worked in the field for years is a must-have if you want to pursue an affiliate revenue model.
An app with a monetization model based upon service fees is one that uses one-time purchases as a method for generating revenue. As such, they need to be robust when it comes to data security as well as being able to handle huge loads of traffic and demand. You often see this model employed with gig economy apps and other task-based apps that do not specialize in an ongoing purchase or a stable supply of products.
Taking your store from an online or brick-and-mortar experience to an app is a challenging process. Luckily for you, the experts at Orange Web Group are well-versed in this kind of transition. Involving layers of development and then live testing, e-commerce models are extremely popular – and profitable – but also require ongoing work and upkeep. That’s why fostering a partnership with your developers is so critical to success. Again, the Orange Web Group seeks out new and exciting projects that promise long-term relationships premised upon mutual advancement and success. If that sounds like a solution for your store, then talk to them about how you can take your operation online as an app as soon as possible.
Crowdfunding has truly come of age in the past several years. What used to be the purview of indie projects and others is now a full-fledged capital market for companies and others who want to get an idea off of the ground while also gaining valuable customer feedback and insights. Whether interfacing with a popular service or implementing your own system, Orange Web Group knows how to bring your strategy across the goal line.
A great model for non-profit organizations that want to connect with their donor base and supporters, one-time or ongoing donations mimics the subscription and purchase models but with a few differences here and there.
While many of these strategies can be used in combination with one another, merchandise tends to be one of those that is either/or. How so? Some companies can thrive purely off of merchandise and product sales. But for those that need a revenue mix, allowing for a store option will not only give your app more revenue potential but also an efficient buyer experience. This is why it is so important that you consult with top app developers about what your needs might be. The programmers at Orange Web Group can build out an app that not only incorporates your monetization strategies in the most optimal way but also using industry-leading best practices when it comes to user experience and interface design.
When you look at top app developers, Orange County’s Orange Web Group will inevitably come out on top. Consult with their team to see what solutions their company can offer you.