05 Sep 2017 3 Essential Ways To Increase Your App’s Revenue
Along with laurels received when you reach success with your app, the financial side is equally important for the growth of your business. We talked about many techniques that can help you achieve the wanted income and now we put together a 1 – 2 – 3 Guide to increase your app revenue in order to create a profitable plan for your app business.
Table of Contents
3 Essentials To Increase Your App’s Revenue
Here are 3 mandatory steps for a productive app, but remember your users’ interests and the reasons why you created the app in the first place are the most important in this process.
1. Maximize LTV Of Your Users
User Lifetime Value is an important metric to track when it comes to creating a sustainable strategy with user acquisition and retention. To briefly explain the term we can say that LTV is the measure of user’s value over time. We will list down some useful ways to improve LTV.
Use Deep Linking
Deep linking isn’t an optional technique for your app anymore. Instead, it is a must have when you want to direct your users to the exact activity of your app they were looking for.
Offer A Great Onboarding
If you scare your users from the start with difficult explanations and asking too many data they will run away and you will never bring them back. Instead, impress them with a simple and friendly interface.
Create Word Of Mouth
There are various channels you can use for spreading the word about your app. To give you just a few examples, we name here press coverage, impressive landing pages, building amazing stories about your app, attending tech events.
Improve App Sharing
Use Push Notifications Wisely
This weekend we discussed about the efficiency provided by push notifications in our weekly report from mobile marketing. The condition is to use them in a smart way. Read the report mentioned and follow the best practices for sending relevant messages to your customers.
2. Increase In – App Ad Revenue
The next step is to pay attention to your monetization strategy inside your app.
Use User – Friendly Ads
Start by making sure that you use only attractive formats for your ads. Some of the most effective types of ads are:
- Rewarded Video Ads – the win – win – win situation when users receive something valuable for continuing their adventure inside your app, brands present their products, app owners increase their revenue and app retention;
- Interactive Ads – when ads are presented like a game or a form of entertainment users don’t have the impression that you want to sell them something. While they spend their time in a playful way they are more willing to complete their purchases.
- Native Ads – ads that complement the style of your app offer you more chances to engage your users and to increase their interest for the items offered.
Filter Ads To Relevant Audience
No matter how engaging are the ads displayed inside your app if their content doesn’t match your users’ needs then your chances to maximize your ROI are zero to none.
Improve eCPM Rate
When you are looking to increase your revenue you must focus on increasing also the value received for serving 1000 impressions. You guessed that right, we are talking about eCPM and we showed you how to maximize this metric without damaging the user experience.
Test The Performance
Instead of assuming that your strategy is on the right track you have to follow accurate data to be sure about your progress. In case things don’t evolve as you planed you have to optimize your activity according to the results received.
3. Apply Growth Hacking Techniques
In marketing is about trying different techniques and deciding what works and what doesn’t. There are so many variables that you can’t tell anything for sure from the start. Now, let’s see where to look when you want to find some promising solutions.
Paid To Free
In case you have a paid app you can allow users to access it without any costs for a limited period of time. Even though this particular interval seems to cause a hole in your budget it promises special benefits which will bring you long term results. Don’t forget to combine this strategy with press coverage and even with email marketing.
For more impressive effects, you need to make sure that your app offers the same great experience for all its users. Going global with your mobile app will have a huge impact also on your income.
Regular ASO Updates
You thought we’ll forget about app store pages, did you? No, keeping your eye on the way your users discover your app on the market is vital and you should consider it a permanent job. Don’t forget to remain connected with the latest modifications announced by Google or Apple. Don’t worry; we will inform you about every major change in a timely manner.
Optimize Social Media
Another dynamic place where you need to remain always connected is represented by social networks. If you bond with users and convince them to trust your brand you will gain more than with any other method.
Tech blogs and forums where created for a reason. And that is to help people when they need to find solutions for their concerns. Be active on your users’ favorite communities and show them that your app is really an answer to some of their problems.
Gain Competitive Advantage
You have to maintain a certain supremacy over your opponents in a good way, of course. Whatever they do, try to do it better. You must be creative and to find innovative ways to conquer their audience in a smart and correct manner.
Instead of watching how you browse through various solutions for increasing your app revenue, we gathered here multiple techniques which can help you to focus better on the right moves for reaching your goal. Keep in mind that it is important to find the right strategy but it is essential to follow the best practices and to figure out the right approach according to your app category and your target audience. If you have further questions we are here to answer them.