5 Proven Strategies to Boost App Revenue
You chose a mobile app builder and made your own app. In a short time, you got a decent number of downloads. You even got the hardest part right – Got ‘em engaged. But here’s the thing - Unless you turn those engaged users into paying customers, your mobile app won’t take off. The question is, what to do if users aren’t buying? Here are 5 proven strategies to boost conversion, drive sales and earn more revenue on your mobile app.
1. Go Freemium - For the uninitiated, freemium model is where the users gets to download the app for free but have to pay for unlocking additional features. In a way, it makes the best of both the worlds – Free apps and Premium apps. There’s a misconception that freemium models work only for gaming apps. Freemium model works for retail apps as well but you’ve to get creative –For a price, you can give the users access to an exclusive collection, free delivery, priority customer service, early access, exclusive deals, no minimum purchase price and so forth.
2. Run Third Party Ads - Some of you might be thinking, what if my app isn’t about selling anything? What if it’s a content publishing app – Say, a blog app, a music artist app or a photography app? Well, you can still make a buck off the store. Once you have built a decent network of users, you can always offer your app space for running third party advertisements. You might be wondering - How do you go about finding brands that would be interested in running ads on your app? Fret not, there are third-party providers which bring in such brands to your app and take a nominal cut from the revenue.
3. Capitalise on Festivities
Festivity can mean different things to different people. But the simplest way to define it is, celebrating a special occasion.Just the last year, mobile netted a meaty 34.8% of overall online sales on Christmas eve (Source: IBM). No matter what you sell - Flowers, books, gadgets, shoes, clothing or fashion accessories – Sales simply go through the roof during the festive season. But festivities isn’t restricted to big ones – Black Friday, Christmas andNew Year. It also encompassespersonal events like anniversaries, farewells and birthdays. When celebration is in the air, customers are in a constant hunt for gifts. It is perhaps the best time to acquire new users and engage the existing ones. But the aching question is, how to catch them. And that’s where mobile apps come into picture. Push notifications and in-app messages enable the businesses to send highly-relevant personalised messages to the right people when and where it matters!
4. Offer Deals and Discount
This might sound clichéd. The customers is swarmed by thousands of advertisements anyway. Why would he pay a heed to yours? Here’s why. An app in a mobile device is up close and personal to a user unlike other channels. When it comes to keeping your users in the loop of ongoing deals and discounts, a mobile app boasts of a higher conversion rate than other marketing channels. By making the most of app push notifications, you create a win-win scenario – Your users get to enjoy great savings and you get to boost your app revenue.
5. Fix Abandoned Shopping Carts
App metrics indicate that users often add products to their shopping cart but leave without finishing the order. Today’s shoppers are spoiled for choice and resultantly, app abandonment rate is on a constant rise. But unlike a traditional e-commerce site, a mobile app comes with the option of sending a personalised push notification to such shoppers andbring them back to the unfinished shopping cart to complete their orders. Look at this example – ‘Hi Brian, the pair of headphones you left in your cart is now available at 20% discount. Check out.’
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Many marketers think of the customer’s buying decision as a single moment of truth but the fact is, there’s a whole process to how the customer arrives at that moment. If you get it right, you get repeated visits, enjoying recurring revenues. The smart way is to let those customers guide you about the pebbles on the road to discovering your app and making the final purchase. Simply put, it’s crucial to review user feedback and deploy it for constant improvement of the app. This is the key to enjoying recurring revenues on your mobile app. Always go for an online app maker that lets you integrate our app with a built-in feedback form.