Proven tips to increase mobile app revenue
Due to global pandemic, we have adapted new methods to outlast strict lockdown laws, which has led to a sudden rise in the usage of mobile phones. Mobile phones have crossed the hurdles of distance, social barriers and languages. Precisely, there are more than one billion smartphone users across the globe.
The upswing in the usage of mobile applications has made it one of the fastest-growing sectors. It is estimated that mobile apps will be generating a revenue of $189 US Dollars. Along with this, there are 179 billion app downloads every year. In this article, we shall talk about the strategies which can help you to achieve higher revenues by assisting you to create a profitable plan in order to upswing your application.
Future Prospects of Mobile App Development Industry
According to statistics, the Google Play store has more than one billion downloads, and the IOS store has more than 800 million downloads. This proves that the mobile app development industry is at its peak, with the rise in the usage of mobile phones, there has been a rise in app development services. According to experts, IOS web developers have earned a revenue of 80 billion dollars till the date. In the year 2021, 386% growth is estimated with a total calculated revenue of 140$ billion.
In order to boost the revenue of your mobile application, you need to pay attention to these strategies. As they can ensure good conversion rates and retention rates of your app.
Let’s have a quick glance over these latest and effective techniques:
Create an Enticing App Icon
All of you would have heard the old adage “ the first impression is the last impression”. It is recorded that if a user spends more than 5 seconds to comprehend your app, they would definitely end up installing another app. This applies to your application too, the icon is the first thing people can see on the iOS app store or Google Play stores.
An icon can be regarded as a visual anchor of your application. It is very essential to have a visually appealing icon as it conveys the essence of your applications and its services. Before selecting a logo, you need to make sure that it is attractive and offers a clear picture of your application to drive traffic on your app. Make sure that your icon is not very flashy and has a unique shape to attract the potential audience. All in all, it is very important to create an attractive icon for your application to develop new potential leads.
Top-Notch App performance
According to a survey, 48% of the customers uninstall the app if they find it slow. However, the target audience today is very impatient, so you need to offer a premium experience to them. In order to increase your app usage, you need to make sure that your app offers good performance. Your app should be free from bugs and errors to ensure smooth-running performance. If your application consists of bugs and low speed there are many chances of the app bouncing.
If your application offers a slow loading speed and offers sluggish browsing experience, it will be automatically pushed down in the google search list. Precisely, it has been recorded that if your application takes more than 3% to launch, its conversion rates decline by 7%. Proper testing and speed tests should be carried out of your application in order to minimize the chances of low speeds.
Integrate Latest Trends And Technologies
Staying up-to-date with the latest trends is one of the most effective ways to influx your sales and simultaneously boost your revenues. Integrating new technologies like AR, VR, IoT, and Machine learning is capable of influxing your application towards a consistent and well-connected customer experience.
Applications with trendy and new features seem attractive to your users and are more likely to indulge them on your app. It can offer better support and assistance to your customers and their queries. In addition to this, advanced technologies have the power to set your app apart from your competitors and offer enhanced features to your users. These features can engage your users on your application and can reduce the bounce rates of your app. This can lead to a rise in the downloads, plus usage of your application, and can definitely lead to a rise in your revenues.
Develop a sense of urgency
Users on your mobile application get bored and distracted by viewing the same items and services. In order to avoid boredom and distractions, you can develop a sense of urgency amongst your users. Basically, this is a marketing strategy but can be used for online platforms for boosting sales.
The main idea behind this strategy is to make your customers feel that they shall miss a lot if they skip this precious product or deal. This strategy is mostly used by eCommerce applications which are popularly known as FOMO campaigns (Fear of missing out). It creates a situation of purchase or loss, which is very efficient in increasing conversion rates and draws the attention of your customers towards your app. All in all, it generates revenue, huge profits, and additional downloads.
Market Your App Efficiently
In order to attract the target audience and develop potential leads, web marketing of your application is very essential. Marketing your application involves targeting your clients by communicating with them and analyzing theirs in app-behaviour. The main aim of this strategy is to develop leads for a longer run.
On the basis of your budget, you can accordingly spend across the platforms for a month or your convenient time frame to advertise your app across social media platforms like Instagram, Facebook, and others. One of the cheapest and efficient ways of advertisements is Email marketing. Many brands like Zara dominate the industry by efficiently using E-mail marketing. You can even seek the help of content marketing firms, app directory sites, and write promotional blogs regarding your app in different magazines. This strategy can help you to multiply your downloads and profits in a very short span of time.
Use In-app Advertising To Drive Growth
One of the most common methods to earn extra revenue is promoting other brands and applications on your app. These firms pay you for posting ads on your websites and some will pay you for the no of clicks on the advertisements. To provide such services, you need to sign a contract of partnership with a particular company.
In order to offer such services, your website should be popular amongst the masses. You need to make sure that this strategy does not irritate your users and cut down the traffic on your application. All in all, this is a perfect way to gain revenue until and unless it does not hamper the growth of your application.
Ask for Customer Reviews
One of the basic rules of business is that without building trust in your customers you cannot avail huge profits. The same rule applies to mobile applications, you can build trust amongst your users via customer reviews. These reviews offer a crystal clear projection of your application to you as well as your customers. These reviews are very essential and valuable as they help your mobile app development team in integrating its features, and your testing team to find bugs in your application.
These reviews can develop a sense of loyalty amongst your customers and can drive traffic to your website. However, certificates, user recommendations are proven ways to influx your conversion rates and add retention for your application. In order to increase your downloads and sales, you can request famous Youtubers and other personalities with a good readership, to post positive reviews about your website.
Offer App-exclusive Deals To Your Customers
In a case study, Hawk Incentives found that 97% of consumers say that they look for promotional deals and offers before purchasing an item. In 2017, PRRI found that 92% of customers use coupons in order to avail themselves of the discount.
One of the most effective and popular methods to attract your audience and to set a powerful online presence over digital platforms. Deals act as a bonus to your customers and attract them to shoot up your business revenue. As your customers are unable to find any exciting offers on other applications, they can automatically use your app to avail themselves with the services of your app at a lower cost.
This technique also helps you in attracting new as well as repeated customers, as people prefer discounts while buying a product. If discounts on your websites are good on certain days or festivals when you advertise your application. This can lead to a heavy rush on your website, which can lead to a boost in your business and revenue.
Usage of smart devices and mobile applications is rising at a very rapid pace due to the global pandemic. A well-executed plan of action can easily increase your revenue and sales through mobile applications. As the usage of these apps will definitely increase in the upcoming years. The above-mentioned strategies and features will definitely maximize your profit and revenue.