12 Ways of Mobile Apps Monetization in Nigeria

Software developers are making money from mobile apps monetization. You have devoted boundless hours creating that flawless mobile app. You went to the Apple Store in order to publish it but the downloads didn’t go as planned. embarrassment for you.

On top of this vast issue is one more problem for app developers – i.e., mobile apps monetization. You see, monetization mobile apps are not only science but it is also an art.

Mobile Apps Monetization in Nigeria

Mobile Apps Monetization in Nigeria

Below are the various ways of mobile apps monetization in Nigeria:

  1. Mobile apps monetization: Ad placement                                                                                                      This may sound obvious, but running ads is the popular way of monetizing mobile apps. To get more ROIs from your ad spends, make sure the ads do not look too pushy and make the ads fit into the context (contextual advertising) with the content and theme of your app.
  2. Mobile apps monetization: Develop an easy to read code                                                                          You’ll make a decent source of proceeds by generating an app that is common and easy to read. These types of base app can far ahead become an extremely specialized app. For example, template copyrights can bring a noteworthy amount of profit for the developers is because many firms want to buy ready-made-solutions, as they can get the branded solution speedily and economically. You can change your base app to the unique needs of your customer.

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  1. Mobile apps monetization: Offer in-app purchases                                                                                      Your app download is most likely free, just like most apps on app store. Most of the apps that are downloaded online are free. However, once people start to use your app more, they might be interested in making in-app purchases to improve their experience.
  2. Mobile apps monetization: Offer a subscription-based service                                                                          You won’t have a stable recurring income from your mobile app until you have monthly recurring revenue business model. Sometimes, there will be good months and occasionally the opposite. With unstable revenue, taking your business to the next level can be an uphill battle. However, there’s a solution to it. You can add subscription-based model which will be more stable and deliver you more predictable income. Your users only need to submit their bank card details once, and until they cancel it, they’ll continue to get billed, generating recurring income for your business.
  3. Mobile apps monetization: Keep testing                                                                                                             If you’re not sure how your app users are using your apps or what’s the best method of monetizing your app, then don’t just leave it to guesswork. Until you have real data, you won’t know for sure. But once you have user data, you can then begin split testing to make big profits down the road.

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  1. Mobile apps monetization: Make a free ‘premium’ app                                                                                      If possible, don’t offer a free version of your app. Make sure to keep the cost of the app low to prevent scaring people away, nonetheless, charge a little as download fee. You’ll also filter out users who aren’t interested in your app. And those who will pay are often the ones who are going to be engaged, responsive, and eventually profitable users.
  2. Mobile apps monetization: Use SMS marketing                                                                                              SMS marketing works similar to email marketing. People hardly even change their phone numbers, and they often forget to unsubscribe. SMS works wonders because, just like Email, it is highly personal which helps convert users into purchasers. But you can’t know for sure until you test and see if it genuinely works for you.
  3. Mobile apps monetization: Your app as a “White label” solution                                                                     If you have an incredibly original app, but you lack necessary skills in the sales and marketing departments, consider giving your app as a white label solution. It’s a process of creating a product or service and selling to a company who can brand it as their own.

Read Also: 10 Best iOS App(s) for Business in Nigeria

  1. Mobile apps monetization: Think sponsored content                                                                                      Let me tell you a well-kept secret about most apps: even if your app generates over 1 million downloads won’t guarantee you profitability. Let’s say, you have a $1 product, and only 2% of users convert. To make a good income through apps, you’ll need a lot of downloads. But, there are other ways to monetize your app.
  2. Mobile apps monetization: Form partnerships and find sponsorships                                                        You can also find a partner or a sponsor who have a similar customer base as you do and propose them to cross-promote each other’s apps to other’s email list. If you don’t have an email list, don’t panic! You can offer a gift (an ebook, or a discount on your services) for free that your partner’s audience will love.
  3. Mobile apps monetization: Data monetization                                                                                            Make sure you are aware of the privacy laws and legal proceedings before you try to sell the data collected from the customer. There are different ways for making money through customer data. One of the ways is to sell the data directly. The other way is to influence non-mobile decisions.
  4. Mobile apps monetization: Start an email list                                                                                           Display ads, social media, and SEO are all great techniques to monetize your app. But email is where all the profit lies. If you don’t have an email list, consider offering a free offer (book, for example) in exchange for their email address. When you build an email list, you can communicate directly with your customers, without having to rely on Google and Facebook. And, one more thing. People hardly ever change their email address – meaning it can be a sales funnel that can last a lifetime.

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