If you wish to develop a profitable application, it is not enough to know the methods of disposable income. We need something similar to a monetization plan. Something that makes sense for our project and may make it viable.
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It is not enough to say I will pay users to use this feature, or I place ads, and voila. If we want our application to work, we need a clear plan.
Given this problem, we must find a solution. Fortunately, there is no need to reinvent the wheel. Many other companies had the same situation, and fortunately, many solutions work. These solutions are called business models.
What are the business models?
mobile application business models is a series of strategies to monetize applications. We take ideas from these business models and modify them to fit neatly into our project. After all, every project is different. Each application has its characteristics and therefore different business models.
One could say that there are several standard business models for mobile applications. The business models we can easily identify and recognize the different applications that exist today.
Depending on where you are looking for information on business models for mobile applications, you may find different names depending on the source you consult. Indeed, business models are not homogeneous. Also, many models mingle with each other creating other new models. Some mobile applications business models include:
The Freemium Business Model
The Freemium business model is based on offering a free application that can be used without any fees, except for a series of high-end features. These premium features can vary widely because they depend on each project. They can go to purchase virtual currency in a game to pay to unlock certain features of the application. It is certainly the most popular model today and the one that offers the best results.
The great point in favor of this model is that the user can test the application without having to pay anything. The user can enjoy and appreciate the application without any obligation. precisely lies the key to this business model. The user may be able to test the application and enjoy the full experience, except a series of features that will be paid.
An example of an application that uses this model Candy Crush and Spotify. The freemium model is one of the best models and offers greater flexibility since the model is created around each project and its unique features.
The paid model
The fee model is based on providing an application that can only be used after paying for it. When someone finds an application in the store, the price appears next. It can only be downloaded if you pay. Once the application is not free, you can enjoy all the features without having to pay extra.
The great advantage of this model is that each user has to pay because nobody can download it after a payment transaction has been made. This is good because, in many cases, more users using an application, more resources needed to maintain and update the application.
On the other hand, the disadvantage is the barrier that comes with the payment. Many users who might pay for an application can not do so because they are unable to test whether the application offers what they want.
Nowadays, the mobile app development by application developers is almost taken for granted that you have to offer some kind of free trial. Largely because of the rise of the freemium model. This makes the applications that want to pursue this traditional model to require a first payment have a bit more complicated.
In-app advertising model
In conjunction with the freemium model, it is one of the most used. It is offering the free application, but including third-party advertising inside. This type of model is generally widely used for simple applications because it is an easy way to start monetizing applications. There are many advertising networks like Google AdMob, which allow you to insert advertising in an application in a few steps.
Anyway, contrary to what has been said, there is an example that the king, Facebook. Of course, you use Facebook almost every day. Have you ever paid to use Facebook service? Probably not. However, currently, it is one of the largest companies that exist.
Facebook saw advertising, it shows its users. All these publications promoted you see are made by advertisers who pay to go out there. Thus, Facebook uses an in-app advertising model. Facebook us show ads between messages. In a way, you pay to use Facebook, but instead of paying money, you pay for your information.
What is the business model is better?
It depends on many factors related to each project. The model charge is quite risky in a world of mobile applications where everything seems to be free. More importantly, they have the great disadvantage that users can not test the application before paying.
The In-App Advertising and freemium models have generated most of the money of application stores and continue to do more than expected. You can combine some models with others, add new features, and the list would be endless.
Conclusion
Many applications use variants of each of them, combining them and adding new features, but they still have their base in one of the above-mentioned models.
When we think about how to monetize our project, it may be a good idea to look at what are the current models use applications, particularly those related to what we want to do.
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