Mobile apps could be the gateway to revenue. As per the renowned market research organization Statista, by the end of 2020 mobile apps are projected to generate a revenue of $189 million. Now that is a lot of money. This justifies why modern-day investors are more interested in mobile platforms. In this article, we will discuss some of the features that can boost business revenue from a mobile app.
Which features I should integrate into my mobile app?
This is not an easy question, but with a little study as well as research on the current market this question can be answered perfectly. However, if you have don’t have time to perform a market study, then you can simply read this article. In this article, we will showcase some of the must-have features for your mobile app, that will enhance the revenue.
Sometimes it is good to keep paid features in your mobile, rather than developing a completely paid app. A paid app might simply not click since you might find your competitor is offering the same at a lesser cost of may be free of cost. However, keeping paid features definite makes sense. For example, a mobile app development company develops a finance app. certain features like stock prices, news and updates can be kept as free features, while stock advice, market forecast, and some other features can be kept as paid features. The catch is, if the user likes the free features and finds them useful; there are complete chances that he will go for the paid features.
You have got one of the best apps in the market. Post-launch you have seen multiple downloads of the app, but now you see users are abandoning your app. What could be the reason? Well, there could be multiple reasons, but one reason could be poor UI or UX design. Poor design can result in a lack of consistency, familiarity, and poor navigation through the app. After some time, the customer might simply uninstall the app rather than living with the difficulties. This can have a bad impact on your revenues. How to fix this? It is simple, engage a UI UX design company and get the most suitable design for your app. In short, your app should be intuitive, consistent and engaging, with a straightforward simple navigation flow.
One of the effective features to have in your app is “push notifications”. You won’t believe but the majority of the top merchants make use of push notifications to provide an update on their products and services, to their customers. For example, there is a flash sale, instant discount for a day, stock clearance sale or an upcoming launch. Push notifications can be used effectively as personalized service to the customers. In practice, it has been seen that customers also eagerly wait for these notifications. Many of the leading retailers use push notifications to clear off their inventory and spike up the revenue in a shorter time. However, merely sending the push notifications is not going to work. Someone from the marketing team has to strategize it, which again can’t be done by the mobile app development company.
Ask your mobile app development company to enable “in-app purchases” on your mobile app. Customers can directly purchase your app, instead of going to a third-party seller or a different platform. Two clear benefits will boost your revenues. Firstly, you create a direct relationship with your customers, with more personalized service. Secondly, customers get a price advantage since they buy directly. This also means a onetime customer can be converted into a repeat customer.
In-App ad revenue
You can promote other apps or other products through In-App Ads. However, with bad positioning of the Ads, you can simply annoy the users. So, it is better to engage a UI UX design company to design the interface for your app and place the Ads effectively. Through promotion, one can not only earn the revenue for the ads displayed but can also earn a share of the revenue from each of the successful leads, generated from the app.
[Read more: Significant Tips That will Boost Revenue of Your E-commerce App]
We have provided the best strategies for boosting revenue from your app. These are the features which have already proven their worth in the apps market, and can also help your business to gear up the revenue. Apart from revenue, this also helps to develop a competitive advantage.