The truth is that being a professional app developer is not an easy task. That is because you have to spend lots of hours writing complex codes and need to pitch your ideas to potential investors. After developing your app, you want to generate money from it. This is important as you need to cover development costs and generate adequate profits for upcoming developments. You may be surprised to learn that generating money from mobile apps is not that straightforward.
Charging fees for your app before users can download it can make them shy away from trying it. As a result, your customers may opt for free apps from your competitors. The solution is in-app purchases. The concept means that you can allow customers to download the app for free.
What are In-App Purchases?
This refers to selling items directly inside an app. The good thing about this is that it allows app developers to generate revenues from the app. It is estimated that revenue developers can get from in-app purchases is about 30 times more than the revenue generated by paid apps.
Categories of In-App Purchases
Consumable purchases are widely used in games. In this case, users pay to access certain features, in-game currency, and other privileges. This is great for users who do not have to wait to achieve certain objectives to get in-app currency but want a quick boost. Also, purchases include stickers, themes, and other features in photo and video editing apps.
These are one-time payments that can help you get access to certain features, which are permanent. For instance, an upgrade of a mobile app version.
These are common with streaming services. They offer users an opportunity to stream content without being concerned about renewing their subscription. Usually, the subscription renews itself automatically unless users opt to terminate it.
You can enjoy unlimited access to certain privileges, which can be reviewed manually by users.
Advantages of In-App Purchases
Access to Freemium Model
This method is quite popular when it comes to monetizing apps. The model allows users to use the basic features of the app for free. However, if they need to access advanced features, then they should purchase the premium version.
Also, developers can use offers, push notifications, and targeted advertisements to keep the consumers engaged. For instance, for shopping apps, the idea of special offers and discounts increases the chance of customers spending more money on their apps.
Some commodities offer access to advanced features or in-game currency for users who want to spend minimal time to achieve game objectives.
Lots of Exposure
When your app is downloaded by many users, it gets more reviews, and it can be featured in Huawei App Gallery. Such treatment results even in more downloads. Exposure means more people can download your app. You can keep all users engaged with your app, and this can help you increase traffic and revenue.
Huawei App Gallery has a wide range of apps in different categories. You need to come up with strategies to keep your users and prevent them from moving to your competitors. You can achieve this by using in-app purchases. That is because users can try the app before buying advanced features.