A majority of developers (61%) would recommend the freemium app model to monetise a mobile app, according to a survey of 102 app developers by Clutch, the research and review platform.
Freemium means that apps can be downloaded for free, but often include in-app purchases and upgrades that help developers generate revenue.
Clutch also notes that successful mobile apps feature more holistic approaches that combine strategic planning, an emphasis on a single feature and a proactive marketing plan to boost a brand’s narrative.
Indeed, Apple’s expansion of the App Store to include five million apps by 2020 means that it will become harder for single apps to stand out. Therefore, marketing becomes an essential part of the app creation process.
Thirty-seven percent of app development companies said that social media was their top marketing strategy to boost conversions for mobile apps. App developers also recommend paid ads (28%) and optimizing their app store presence (21%) as their top marketing strategies.
Shockingly, just 8% of developers in this survey recommended in-app ads largely due to the changing nature of best practices for user experience and consumer preferences.
Instead of in-app ads, sponsored apps may be more appealing. However, sponsored content is costly and usually requires a substantial marketing budget as well as strong brand recognition.
For businesses trying to launch their own apps, there are app development companies that can also assist with any app advertising queries. However, companies should consider their long-term budgets before selecting a development partner.
Launching an app can cost anywhere from $5,000 to $100,000, depending on features, functionalities and marketing strategies.
Indeed, 70% of app development firms do ask clients for the provision of clear goals and design requirements.
The report concludes:
As companies turn to mobile apps as a method for engaging customers, the process can prove both confusing and exhilarating. The most successful mobile apps are the result of thoughtful internal planning, focus on one signature feature, and a proactive marketing plan that builds on existing strategy.