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You may be having the desire to venture into the world of mobile application business or have already started up one. For you to be successful, you need to convert the apps into money. Before you go ahead and make money from what you do best, you need to consider some factors. These are discussed in this article.
The Cost of Your End Product
For proper monetization of your product, you must consider the how much the app will cost. You have to set a fixed price for the service rendered to the customer who goes ahead to download the mobile application. The cost is reached at by weighing factors of cost product utility, how urgent the service is required, the age category of the person requiring the service and the quality the application. You also have to consider the value that the app adds to operations. The uniqueness and high quality of your services will attract many customers hence earning you a lot of money.
Before setting up the final price you have to carry out a survey on what other competitors are charging. Know their terms of payment in relation to the services they offer. You have to improve on the quality and uniqueness of your product to attract customers since most users are reluctant to buy new products. In order to improve the monetization of your mobile application, you have to demonstrate how your products work so that you can make your new customers understand what it is all about.
Provide Full Features
The mobile application products you sale to your customer should have all features for it to operate. Failure to do this it will mean that the customer will have to buy additional features to add on the mobile application. This will affect monetization of your business since it will keep customers away because you do not offer all that they require.
Provide a Proper Platform for Purchasing the Mobile Application
You should provide effective means that customers will use to purchase the mobile application. This service can be purchased over the phone through SMS payments or via an online portal. In both cases, the money is deducted from the users account on the mobile phone or credit card.
Internal payments like the use of SMS service can assist in increasing your income. For example, a user may need to play a game over his mobile and has a need to open new levels, to avoid waiting for few hours in order to change the levels of the game, he will simply play the game and money will be deducted on his account through an SMS for the service. You can also open additional functions to serve mobile transactions.
You can also use the method of clicking on ads to charge a small fee for your mobile application. This method is effective if the users are online. It is desirable to implement ads in mobile applications that require constant internet connection. For example communication through email, playing online games and downloading music.
One of the most popular ways for you to sell the app is by putting it up for sale on a market that has been set up specifically for that purpose. One of this is the Android market or AppStore. The payment technology is provided by the market which reduces the efforts you need to put into the whole process. Users will buy the product using their credit card after which your account will be credited.
If your application has a wide range of features, it is advisable for you to avail it for free on the market. You will make money by opening up additional functions at a small fee. For example, if you have a video game that plays on the mobile phone, you may have several levels that users can access only by paying some money. You can do this by incorporating an in-app billing system which will allow you to earn money from a user several times.
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Source: http://ezinearticles.com/?How-Can-You-Monetize-Your-Mobile-App?&id=9111158
