How will you make money from your app business
In a crowded market, how does an app attract new customers, gain audiences, and deliver value? There are tonnes of app downloads every year & most of them are abandoned after frist use .
While Mobile consumer data suggests apps sessions are growing & diversifying we see mobile average order value is close to desktop. Customers are especially comfortable buying on tablets has surpassed desktop in many categories. Smartphone order values are close to desktop especially low-cost and repeat purchases. The desktop is increasingly just for working hours, on working days we see purchases happen on the desktop during working time and shoppers switch to mobile during leisure time.
We know there is a market and sure it is growing, every 2nd client we meet is a Startup app facing major challenges like app discovery, abandonment or engagement; Companies who are developing app need to understand and overcome challenges.
As the use of mobile commerce grows, users will increasingly expect smooth in-app experiences when finding, reviewing, learning about and purchasing products. UI and in all app experience is the first hurdle any app must overcome. But challenges don’t stop here your app idea needs to make money.
Most of the apps we come across in India lack clear revenue model, they have spent time and money creating it without a revenue model or necessary infrastructure to scale-up business operations. Well, I have listed some revenue model that any business relate to
1. In-app purchases – Users purchase goods within the app.
2. subscription model – Free to download, users pay to access more content.
3. Premium – Users pay a free to download your app.
4. In-app advertising – Earn money by placing ads inside your app.
5. Freemium – Free to download, users pay to access more functionality.
Once you discover right revenue model which will help you scale up business then you need tailor-made Digital Campaign(App Promotion) with a defined focus that will achieve your objectives by reaching your potential customers.
let us talk about Google Adwords app promotion campaign. App Campaign combined with Search advertising (PPC Campaign) will ensure presence right when your customers are searching for you app or similar intend; Capturing micro-moments.
Direct response campaign gain new users and to engage with users who are already using App; Driving in-app transaction.
1. Drive installs at scale – Increase number of installs.
2. Acquire high-quality users – based on monetization model and set expectation on what post install action you’d like your audience to engage in.
3. Re-engage existing users – your app has been available for a while with a sizeable user base but is losing interest from users.
4. Branding – You would need to raise brand awareness, increase brand loyalty, or expand the size of the market segment you reach.
Many of our clients are making headway on some of these elements. It is crucial for any business to understand the advantages of data-driven digital marketing, its relevance, and immediacy. For marketers like us, it is about micro-moments and it is not about one-size-fits-all campaigns that lack both relevancy and immediacy.
Consumer decision-making journey forever has changed and that many consumers are defaulting to their smartphones, tablets as the key enabler of their shopping experience. These moments are rich in