Businesses Missing Opportunities for Monetising Mobile Apps
The advancements in mobile technology have revolutionised and the business world with the introduction of sophisticated apps containing new features, productivity tools and other extraordinary capabilities. Mobile apps provide a better foundation for controlling and managing a business, thereby fuelling productivity, profits and a competitive advantage. According to Jason McNicol, ABI Research senior analyst, mobile apps are the driving force behind the rapid change and growth of by cloud computing, social media and big data, for instance.
The massive mobile economy presents a great opportunity for monetising apps. Despite persistent efforts by organisations to develop mobile apps for more efficient business operations, most have not made the most out of their apps. “Most enterprises haven’t taken full advantage of mobile apps, which create new and often more efficient communication paths,” said Patrick Flynn, professor of computer science and engineering, at Notre Dame University in a Baseline article.
One of the best ways of monetising mobile apps is to incorporate ads in apps. A report by IDC and AppAnnie suggest that mobile in-app ads grow at rate of about sixty percent per year as compared to the fifty percent and ten percent growth for mobile browser ads and PC browser-based ads, respectively. Over forty percent of developers incorporate ads in their apps.
With the growth of casual and social gaming, monetising mobile games are the next big thing. But to achieve that, an intimate understanding of the techniques, strategies and processes are required straight from the start. According to research, about one out of five mobile app users return just once after downloading. First impressions play a vital role in the success of an app.
Mobile and social games are often played on the move which necessitates a compelling and intimate user experience in order to motivate loyalty and return visits. The first impression must exceed the customer expectations. Provided there is a correct foundation in place to attain this, whilst also maintaining transparency throughout the process, monetising the app will be easier. The best way to effectively monetise mobile games is via free-to-play and in-app ads.
There are certain rules that should be obeyed, however, when considering monetising mobile games. Regardless of the game genre, users demand entertaining content, an easy-to-use navigation screen, a seamless experience and a financial or emotional reward. This will encourage mass downloads of a mobile app, from which a number of excited gamers can be induced to make in-app purchases. Moreover, a deeper insight is necessary to successfully and appropriately monetise the content. Understanding the purchase trends and the external in-app purchase triggers help to analyse mobile user interactions as well as spot any anomalies. In conclusion, monetising mobile apps require an intimate understanding of the modern mobile gamer and the vast app economy.