There are so many revenue models you must have heard of or come across. But then you need to make sure the peak in downloads don’t happen on the first day of the launch of your app. You wouldn’t want that launch period to be an outlier. So it’s important you have your strategies in place before you go for a particular revenue model. There are many factors on which these strategies would depend upon. Here’s a quick look into what might be determinants:
- Type of app you are launching – Is it a game or a fun application or a magazine or a book library.
- Type of your projected market – Is it focused on the youth, does it service medical patients or is it highlighting some upcoming event or does it serve only specific places or interest areas?
- Expected output – Though we say that a popular app at the end of the day is going to fetch you money, yet what is your outlook – Do you want to earn in the initial phases and become top grossing during the initial weeks or do you want to earn the same amount but over an extended period of time.
Having considered these factors, you should be good enough to build your strategies. This will be a walk through of the various strategies that you can implement:
- Pricing Strategy
This is the most important strategy that needs to be taken care of during the launch period. A price tag should only come after careful consideration of the various features and the usability of the app. If it is a high end graphics oriented app, you can well quote a good price for the same. But it wouldn’t be wise to quote a price for a basic app regardless of how good it is.
- Strategies in the Freemium Model
When you know that freemium is the way to go for the app, then there are certain points you need to be clear off. What makes it so intriguing for an user to go to the next level of functionality. A subscription model might hurt in today’s scenario for a launch type of a situation with the advent of the in app purchases. Even magazines are not doing well with subscription models. They are now shifting to the freemium model by giving readers some reference to what they are reading and are quoting a price for reading the whole content.
- Strategies in Advertising
Make sure you have a huge pocket to shell out from if your revenue model is advertising. You will need to have a huge market to get advertisers’ attention. Now how can you get that market depends on how you advertise for your app. Sometimes advertises can be irritating and can be big turn offs for users. You need to do as much marketing as you can if you are to depend on advertisers because they will want a lot of clicks on their ads before they pay your dues.
As a general recommendation, a basic app would do really well if it is given out for free with revenue models ready to support the amount of investment that you have made. As a strategy which can be out of box, you can choose to build your app on a completely new OS platform where you have faith that it wouldn’t fail you. You can reach to a completely new market through the same and then after the app becomes popular, you can launch the app in the popular platforms like iOS and Android. Plan out these strategies before that launch date – otherwise the only peak in downloads will be only on that first day of app release.