There are a few ways to start generating revenue from your next mobile app. Below are a couple of examples of how to do it and we suggest looking into the various options that exist.
It would be best to research your target market to understand their behaviours and how they would be willing to consume your app.
If your app is oriented towards the general public you may want to consider how often they would use your app. What kind of value would it bring to them? Would a mobile app enhance or solve a specific problem for them?
If so, you may be able to sell the mobile app as an additional benefit at a nominal price (research must be done on the tolerance level for how much they would be willing to pay).
If the app is a ‘nice to have’ rather than a ‘need to have’ then you may want to extend your business onto the mobile platform for no charge. This will create a better bond with your customers and provide ‘more service’/’more engagement’ with your business. One option to monetise this part of the business, and create some revenue, is to include advertising. At this point in time there are location-based advertisers and platforms however soon you will be able to select what kinds of ads appear on your app. The reason? Quite literally to avoid your competition advertising on your own branded mobile app.
We encourage you to have a look at the different revenue options that exist and consider this when piecing together your next mobile app.