What are the Don’ts while Monetizing the Mobile App?
Any kind of business would want to make profits and mobile app ventures are no different. In this regard, businesses are executing monetization policies to get optimal returns for their investment. As there are many challenges to overcome right from the initial stages of mobile app development, the monetization process is not an easy affair. You may find several tips for ways to monetize the app, but you should also take ample care of don’ts for ensuring a successful venture. In this article, you could see some crucial don’ts while monetizing the mobile app.
Don’ts while monetizing the mobile app:
Lack of detailed monetization plan: You can’t hit the market with the expectation of earning profits without having a proper monetization plan right from the initial stages. With a big number of apps hitting the market every day, you need to plan well for finding long-term success. Depending on your target, app niche, and audience interests, you can have one or a combination of monetization strategies like in-app ads, freemium, in-app purchases, sponsorships, etc. You need to keep in mind that there cannot be one formula approach for all types of ventures. Crafting a detailed monetization plan to make the best use of the existing user base while also attracting new ones from them.
Not going beyond the single monetization method: Are you still using only one monetization strategy that was planned when you started the venture? Then you need to be proactive in using multiple approaches available in the modern market. There should be a proper blend of monetization practices among the multiple ones available in the monetization world. An expert mobile app developer can help you and guide you to choose the best combination of monetization plans for ensuring to reach and earn profits. Leading mobile apps have successfully included hybrid monetization strategies to successfully gain profits by leading the competition.
Monetising soon or too late after launch: It is proven to have the right monetization strategy for profits but is important to know the right time for monetization. You cannot monetize the app right from the point of its launch you must focus on having a settled user acquisition plan. To have the best monetization strategy, you must know the interest of users along with the spending figures. There should be a guarantee that users will go for premium subscription plans once you launch it. On the other side, you could face a stiff challenge if you drag the issue and delay the launch as competitors might have reached your target users and acquired them. Hence, you need to be careful to know the right time in introducing the monetization plans for successful outcomes. Along with these aspects you need to have a smooth user experience for retaining the users.
Giving Generic Offers: One of the highly common mistakes committed by app development teams is giving generic offers to all users. Since every user will have varying interests, you cannot engage them with this approach. Some topics may be interesting for one group of users while others may find them boring. Hence there should be personalized offers to every bunch of users who are interested in a particular topic depending on the budget. Segregation of users is very important if you must reach them effectively.
No proper strategy for in-app advertisements: Another serious issue committed by enthusiastic teams is to place ads at random areas in between the functionality or features. Every ad shown in the app must be placed after strategic planning. Showcasing ads abruptly in between the features, placing ads in places that are not employed usually, overloading ads, etc are some practices that must be avoided.
Usually, customers interact with rewarded ads in large numbers as they provide rewards in return. Hence, they should be planned strategically as users will be knowing its majority placements if they use the app often. Ads can be shown during the completion of using a feature while not interrupting the flow of users. Since the profit share from ads is reliant on the total time ads are shown in the app, you must take smart steps in the execution. Sometimes apps with splendid user experience tend to lose their sharpness when the focus shifts to monetization. User retention is a crucial factor for ensuring a solid user base for executing the monetization strategy. While it is true to have a major focus on the content shown, your success is dependent on placing the ads in the right places.
Overloading users with offers: While you may be trying to grab the attention of users, overloading them with offers can lead to a negative impact. Pushing hard with offers may annoy the users forcing them to decide to uninstall the app. Even if you can retain them, they will not pay importance to your future offers. Such wrong moves will make your chances lose the plot in the coming stages.
No awareness of ad policy: In-app advertising includes some practices that need to be followed by app developers. Whenever any ads do not meet a pre-approved set of norms, when displayed on mobile apps, there will be a violation of the policy. Such approaches will lead to the restriction of ads or even the removal of apps from the stores whenever it fails to meet the policy regulations. To negate this, the team must be constantly updated about the policies of every platform to fulfil the norms.
Final thoughts:
Mobile app monetization has become a crucial aspect since apps have become a mandatory aspect for all kinds of businesses. But there is a very thin gap between earning profits while maintaining the user’s satisfactory quotient to decide the overall success rate. Partner with a best mobile app development company in Bangalore like Brillmindz technologies which knows the ins and outs of the mobile app development market. The team can ensure to have a perfect balance between the best monetization combination with user-friendly app strategies to gain maximum returns.
