The App Revolution
We’ve all heard the phrase “there’s an app for that”. With new apps being developed daily, our lives are more infused with them than ever before.
Need help finding a Thai restaurant that delivers? There’s an app for that. Want to track your run? There’s an app for that, as well. Want to sing karaoke with strangers without ever leaving your couch? Believe it or not, there’s an app for that.
And not to mention, most of these apps are both successful, and free. In fact, 90% of all apps are offered at no cost, and only 33% of U.S. mobile users are actually willing to pay for apps.
So how can you stand out from your competition and monetize from your free app?
We took a look at the different ways developers can earn money with their app and broke it down for you below.
In-App Advertising Is Quickly Becoming Ineffective
Sure, incorporating in-app ads can earn some money for your app, but is it worth the risk of spoiling the user experience?
The average consumer is bombarded with over 5,000 advertisements per day, leaving little room to make a lasting impression. Adding another interruption to your users’ experience only drives them further away from engaging with your app.
Luckily, there’s a sure-fire alternative to make money with your free app:
Integrating a software development kit (SDK) that leverages your users can drive app revenue without interrupting the user experience – retaining user satisfaction and engagement.
Reap the Benefits of a Mobile Audience SDK to Drive App Revenue
Gather Valuable Insights
A huge benefit of integrating a mobile SDK into your app is the ability to collect valuable information about your users.
Upon download and opt-in permissions, a quality SDK will give you access to the user’s mobile device ID number, which is unique to its respective device. This device ID provides insight into your users’ mobile behaviors, app usage, and geographic location.
Such data is extremely valuable to marketers, and many will often pay a static CPM price or present a revenue share model based on the data that is accumulated from your app.
Understand Your Users
Earning app revenue doesn’t stop at receiving a paycheck from marketers.
Be sure not to overlook the capability of data. Use these new interpretations of your users to build the best app possible.
Because each device holds its own unique ID number, it can be deterministically linked to a real, verified user.
With the data collected from the device ID, you can gain powerful audience insights.
Understanding your users will allow you to tailor your app to their constantly changing interests and behaviors, guaranteeing a seamless app experience.
Additionally, these user insights can help you to expand your ideal audience for future applications.
The Domino Effect
An optimal app experience will pave the way for total user satisfaction, leading to an increase in app installs. Increased installs will expand your pool of data, generating more app revenue.
The app market is one of the most competitive markets of the digital era, containing low barriers of entry with high reward. Nevertheless, it’s important to keep your users satisfied to remain at the top of the marketplace.
If executed correctly, using an SDK that leverages your users can ensure that you are equipped with the tools to enhance the user experience, while ultimately driving app revenue.