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Top Proven Tips to Monetize Mobile Apps

Top Proven Tips to Monetize Mobile Apps

Top Proven Tips to Monetize Mobile Apps

Are you aware that developing an app can earn you money?

Yes, you read it right! Nowadays apps are one of today’s most recent marketing and income techniques in the world.

In this rapid world of mobile technology, it is crucial to sustaining a lasting influence of mobile applications in this dynamic mobile app industry that is frequently swamped with innovation. However, to sustain market presence and earn a profit in return after investing time and resources in developing the mobile app, you should know what app monetization is and how it can be a game-changer for your business’s success.

In this article, we’ll discuss some of the finest monetization techniques for applications, but before moving on, you need to understand the term itself app monetization. So let’s get started:

What is app monetization and why should you have this approach?

According to Statista, Android users may select from 3.48 million applications in the Google Play store, while Apple users can choose from around 2.2 million apps in the App Store.

It is expected that the mobile app market can grow up to $653.91 billion during 2021-2025. In addition, mobile users spend most of their time on applications rather than browsers.

This shows that users are interested and happy to pay for apps, and there is a potential to turn billions of mobile users’ attention into money. However, this can only be done if you know how to strategies app monetization. You can choose from different models of monetization of mobile apps available but first, you need to understand what are you looking for, your target audience and their behaviour as user experience is integral for app monetization.

Let’s continue with tips on app monetization.

Charge for App Downloads

It’s a classic yet simple technique to monetize your app by charging a charge to download it. One significant advantage of this strategy for creators is that they receive income at the exact moment when customers download their products but this model is less popular these days as it is difficult to persuade users to pay for the app before even trying it out. It’s a classic yet simple technique to monetize your app by charging a charge to download it. One significant advantage of this strategy for creators is that they receive income at the exact moment when customers download their products but this model is less popular these days as it is difficult to persuade users to pay for the app before even trying it out. 
Also, marketing expenses escalate, in particular, if your competitors provide a free alternative app. If you go with this app monetization strategy, you’ll need to decide how much you want to charge for each download. 
This technique is most effective when:

● Your target audience is aware of your well-known brand.
● You are ready to invest more and have in place a strong marketing and PR plan.
● Your app is offering unique services and has fewer competitors.
● Your offered cost should be reasonable for the services offered.

DevOps Tool Chain

Advertisement

Advertisement through an app is one of the popular and great ways of monetization. The advertisement, however, must be relevant to your target audience and not disrupt the app’s use. There are a few different types of ads that you may use to execute a proper strategy, such as:

Cultural Benefits
  • Banner Ads:
    Typically seen at the top or bottom of the mobile screen, they can be disruptive but can generate maximum impressions.

  • Interstitial Ads:
    Ads that cover the app’s UI without interfering with the user’s experience. While the user waits for the app to respond, it occurs. Timing and frequency are important in this case, so don’t flood your user with adverts.

  • Native Ads:
    Native advertising offers a seamless ad experience with layouts that fit the look and feel of your app.

  • Ads Listings:
    With this approach, whole lists with ads and offers are created. It is important to have a place on this list, so that some of your partners may pay you higher to feature. 

  • Affiliate Ads: 
    To earn commissions from other apps by advertising them through your app.

This ad approach works well when users visit your application often and sessions last for a longer length of time. There are several revenue models, where income is generated through sponsored ads while the app remains free for users. The more people you have, the more revenue you’ll make from your ads.Types of ad revenue that involves:This ad approach works well when users visit your application often and sessions last for a longer length of time. There are several revenue models, where income is generated through sponsored ads while the app remains free for users. The more people you have, the more revenue you’ll make from your ads. Types of ad revenue that involves:

  • CPC (cost-per-click)
  • CPI (cost-per-install)
  • CPA (cost-per-action)
  • CPM (cost-per-mile)
  • CPV (cost-per-view)

In-App ads are a responsible option if implemented appropriately, therefore you should consider the placement of ads in your app before adding them.

Freemium

This app monetization strategy is derived from the combination of two words: free and premium. It offers a free app download but charges for additional features.

While the basic features and functions are free to use. In this approach, the free version will grab your potential user’s interest and provide them with the choice to try the app without the worry about getting paid for something they might not like.

This boosts the reach of the audience and increases app download rates that have a beneficial impact on the ranking of your mobile app in the app store. This type of apps offers tiered payment options, which is a great strategy to sell more features to users who want more from the apps.

If you wish to monetize your app through a freemium strategy, remember to offer users extraordinary features with a great deal of experience.

Business Benifits

In-App Purchases

It’s one of the most popular mobile app monetization techniques. This approach is employed by several of the most played games on the app store where players may purchase power-ups, more life, in-game cash and other benefits to maximize their app experience and gaming playtime. This strategy will make enough money and will offer real value to the users.

 

Subscription

In this approach, when a user downloads the app without paying, some app features will be provided to subscribers before those who do not, meaning that some app features will only be available for a limited time example: a one-month free trial. Following that, the user must pay a charge.
The rate at which payments are made will be determined by the subscription plan chosen. This strategy works in favour of the long-term retention of app users. This approach focuses on accessing content rather than features.
That is to say, before subscribing, users may access limited content. This model is suitable when your app is content-driven or it provides users with really valuable content.
Popular apps like Spotify, Netflix are the best examples of subscription-based apps in the market.

 

Sponsorship

This method involves partnerships with advertisers that give rewards for specific in-app behaviour. In simple words, the app makes money by earning a proportion of the income from redeemed rewards.
Sponsorships link your audience to other brands and can develop brand credibility by employing intelligent collaborations. Furthermore, this can enhance your industry exposure and credibility and can inspire users to download your app.

Approaches of DevOps

Conclusion:

In-app monetization may take many different forms. Consider your audience, offering, and capabilities when selecting an app monetization approach for good outcomes. Shortly, the level of competition in the app market will expand more so you’ll have to ensure that you use the best techniques since a great marketing strategy leads to strong sales.

App monetization is certainly one of the primary aspects of your corporate strategy for maximum profit. If you are still confused about it and need a piece of expert advice, contact us, we can offer the best solution for you.

Naba Ahtasham

Author

Naba is a Content writer with Engineering Bachelor degree. She takes care of all the documentation and a key person in making project strategy.

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Virtual Reality App development and its Challenges

Virtual Reality App development and its Challenges

Virtual Reality App development and its Challenges 

In the last decade, technology has continuously evolved and one such impactful development has happened in the domain of Virtual Reality. It is needless to say much hype has been created in recent years about this technology. 

Known for popular use in the gaming industry this cutting-edge technology is now getting quite an attention in other industries such as education, healthcare, entertainment, fashion, military, engineering, media, sports, telecommunications, and many more. 

The recently introduced trend of virtual reality headsets accelerates this technology. However, the past has demonstrated that hardware and connectivity frequently have tended to lag what app developers wanted to achieve the desired user experience. However, it is not an easy job to create great VR applications.

Developers encounter several obstacles, some of which are harder to solve but somehow companies are working to resolve them. Irrespective of the big buzz and investment around these technologies, the business for virtual reality is still in its initial stages.

There are some major challenges faced by businesses when creating high-quality applications of virtual reality so let’s talk about it.

1. Expensive Development

High development cost is one of the main obstacles in the development of a Virtual Reality application. A basic virtual or augmented reality e-commerce development will cost between $15-25k. Furthermore, headsets are another aspect of the issue.

Some basic VR headsets are more costly than the average accessories of smartphones like cover and headsets. The expense of creating a VR application largely depends on integrating optics with high accuracy and it takes a large volume of investment. 

However, it’s only a matter of time, when the technology advances and developers gain a deeper understanding of producing the products that raise the demands of VR products so that cost spend can be recovered.

2. Public Interest

VR is simple to market to “gamers” but it is not commonly regarded by the public as a viable product. One of the top reasons is that many people don’t know what VR can do. However, this obstacle can be overcome by marketing and creating awareness of virtual reality and their technologies. 

Another way to handle it is to encourage people to explore it by themselves. It seems that the days are still far off when people use VR headsets for anything other than games.

3. Hindrance in Technology

The biggest challenge with modern devices like smartphones and tablets is the incompatibility. The technology used in smartphones to take images and videos is not the required content that interfaces with VR. 

Besides, this technology is very bandwidth-intensive. Although high-end computers are certainly designed for it, they are still too expensive to be used to. 

For VR implementations, a power-based constraint is the most apparent obstacle. Batteries have their limits and you must keep in mind that VR / AR (or other graphics-intense) applications use high levels of power. 

This implies that during the design period of an application, these limits must be taken into consideration.

4. Data Privacy

Cybersecurity and data protection in any sector is a sensitive matter. Since the technology is new, it is highly critical for the VR industry to come up with an effective solution. 

Improper encrypted user data submitted as part of the registration and payment procedures to virtual reality creators and related device applications have more risks of a data breach. Furthermore, another possibility of the hacking of records and other private information when products are in service can do lots of damage.

The smallest negligence will lead to severe privacy concerns for users and it could lead to less or no approval of the audience or trust of an investor. 

Though developers are continually modifying the condition and taking precautions according to known threats, still many are unknown in VR.

5. Health Issues

The effects of VR in human health is still unknown and is a topic of great debate. One of the critical issues in the growth of the whole industry is how VR-gear affects health.

Generally, initial findings have found that most adverse health impacts are short-term, with no permanent effect on the user but the long term effect of virtual reality is still unknown.

Conclusion

VR is a great new technology and there will be a wide commercial base for all variations in virtual reality in the long term. The fact that many giant tech companies recognized its worth and its promising future.

Developers are working tirelessly to overcome these challenges, it is just a matter of time to get a better understanding of the techniques to carry out the products in the market that will make VR grow.

Naba Ahtasham

Author

Naba is a Content writer with Engineering Bachelor degree. She takes care of all the documentation and  a key person in making project strategy.

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What should you know about MVP before building a startup

What should you know about MVP before building a startup

What should you know about MVP before building a startup?

Launching and developing a startup is a complex process that involves time, commitment and investment. Entrepreneurs are usually afraid to get started especially when stepping into an unfamiliar future.

Stats show that only four out of five startups were able to survive in their first business year. To reduce the probability of failure of a business in the first year, build an MVP first.

In this article, we will discuss how an MVP minimise financial costs, draw early adopters and analyse input from first-time customers when it comes to building momentum in an early phase of startups.

Before moving forward Let’s first get a quick overview of what MVP is?

What is an MVP?

MVP stands for Minimum viable product and it is a minimally featured software solution, it is the initial version of the product which developers develop with simple specifications to evaluate its worth in the target market. The idea of MVP provides perfect testing ground, showcasing what can be improved based on consumer feedback.

Eric Ries was the first to propose it, he brought this lean methodology concept and MVP was processed as the client-facing version of the product.

Some factors need to be considered by every startup before dealing with MVP.

1. Analyse Market First

Sometimes, just because the idea sounds great in concept, that doesn’t mean it’s going to be effective in the market. If you don’t want to end up broke do the market research before starting the project. Make sure you target the right market and your idea is your targeted market demand. 

Conduct surveys to have a more detailed analysis of the market so that the probability of success of the product is higher in the market. Analyse your competitors in the market as MVP is introduced into the market to directly compete in the economic environment. Take a look at what your competitors are proposing in the market and how your product can stand out.

2. Target  Right Audience

The smartest way to create a demand for the product is to attract early adopters. Develop an MVP that keeps engaging the targeted audience. Your audience will influence your product development process so do your research first and make sure your product addresses the challenge in a way that it appeals to the target audience.

3. Build Product Roadmap

Before you act, plan first, make a product roadmap that tells about the expected growth of the solution. You have to be able to develop a practical plan if you want to get the results you want before you start developing the product.

4. Work out on User Flow

When designing an MVP make sure from start to final process of the application that you ought to look at the application from your audience perspective. Work on user flow in detail, create many ideal scenarios, use cases for how your product should be used so that you don’t forget anything when considering the upcoming product.

5. Make Feature list

Remember that minimum is minimum as overdevelopment is a great issue for startups. You may want it all but a better approach is to stick to the main functionality of the MVP. Make a list of all features you want to add before you start creating MVP, upon completion process review the list of MVP functionality as the efficiency of any MVP depends on its feature and whether the targeted audience requires it.

6. Conduct User Testing

MVP is a real product, after launching it in the market engages early consumers to test MVP. When you start getting reactions and opinions, analyse it and make a conclusion based on their feedback. Improve your product feature and develop your application in compliance with the preferences of users.

7. Create A Product Landing Page

To create an effective MVP  invest some additional time to build up a strong landing page. Try pushing traffic to the landing page of your product as much as possible. Traffic is driven by blogs (SEOs), social media and articles related to the industry, the traffic outlined ideas effectively and softly promotes the product and inspires early users to sign up.

Conclusion

When it comes to testing a product idea as soon as possible, an MVP is the most commonly agreed possibility. MVP is a great start-up tool as you learn a lot about your users, without excessive use of precious time and funds by way of a workable product. 

The MVP must be simple and promising. If you are successful, the users will look forward to the project’s growth and will comfortably win the support of investors for future development. 

If you’re looking for professional guidance on MVP application development, or if you’ve never done MVP before, drop us a message, with dedicated product development services we help startup creators and other leaders to create high-quality MVPs for them.

Naba Ahtasham

Author

Naba is a Content writer with Engineering Bachelor degree. She takes care of all the documentation and  a key person in making project strategy.

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How to Manage Deadlines in Software Development

How to Manage Deadlines in Software Development

How to Manage Deadlines in Software Development

The word ‘deadline’ scares off even the most organized and punctual people. Either you’re working on a software development project or any other, it always seems like there’s a chaotic hurry to finish with a deadline. 

Most of the time the major pressure is on the developer. Deadlines are the biggest nightmare for them. Well, a deadline is a common occurrence in a software development project that enables accomplish targets, pushes the projects forward and manages the entire business effectively. 

Only a couple of strategies and you would be easily meeting the deadlines without any hesitation.

Why Software Development Deadlines are Important

Deadlines are not the synonym for catastrophe, on the contrary, they are proved to be vital and effective. Firstly, time is a precious diamond. The software development process is rather expensive, and you have to follow the plan. 

Also, the earlier you unveil the product, the quicker you initiate profiting. Furthermore, the product’s launch can be tied to a fixed date, such as the date of committee approval or advertising strategy.

 Finally, software developers are generally concerned about maintaining quality and committed to their customers, which means successful completion of the project.

Software developers know the importance of the deadline very well because if a deadline is not meet then dreadful things might happen like premature termination of the project.

Risks of Timely Development

When developing a timely product, there can be various factors that can make the job harder than it usually is.

Let’s discuss a few risks that should be considered.

Due to multiple reasons, an inaccurate estimation may occur. Most of the time, a brand-new product entails less risk than the finalization of a current one. Enhancement and completion are far more difficult for creators than designing from zero. 

It is difficult to tell how long it would take to see the consistency of the application. Generally speaking, when we speculate, we neglect certain significant factors that could influence our assumptions.

Furthermore, another risk in timely software development is human is itself. We must not overlook the human element, infections, lack of experience, lack of clear goals and several other human factors. 

“A project plan will draw up a certain vision of priorities, strategy, and objectives along with simply accomplishing tasks to get you to the real destination stage”

A few other issues which affect deadlines could also arise from the perspective of the customer. If you increase the production span by changing requirements, it will require a longer effort for the developer. If a client fails to deliver constructive criticism or respond to questions on time, the deadline is likely to blow out as well.

How to Meet the Deadline

 

Let’s take a look at how software development projects can manage deadlines.

Estimate Risk with Matrix

Usually, a project manager is also responsible for managing risks. Once initiating a plan, they have to define and recognize threats and establish a strategy for every risk reduction. 

They may use a risk matrix for this function, which helps to predict both the likelihood and seriousness of future incidents. It is a quick and easy method to increase risk awareness and to facilitate management in their decision-making. 

In that way, there won’t be any panic whenever a crisis occurs, as it has already been expected, and a project manager also would understand the situation and know what to do.

Trust Your Team

Developers break down large projects into smaller ones before beginning to work on a project. And they determine the likely amount of time they’ll spend producing them. 

Before that, the supervisor or a team member reviews the predictions to reduce the chance of the assumptions being incorrect. This helps to minimize the chances of unreasonable deadlines that could be detrimental to the completion of the project.

Yet another strategy to meet your software deadline would be to get insight from the team members – right from the beginning – about the development phase and schedule.

It keeps the software on track to stop any mistakes along the process.

Communicate

Communication is vitally valuable once a deadline is set and during the implementation phase. Just the proprietor of the project understands all the ins and outs of how it will all operate. But you cannot read what’s going on in the minds of others, therefore, talking to each other is what left to do. This supports all the colleagues to work swiftly and resist pointless efforts.

As a project manager, you’ll track the condition of every phase of project development and be certain that it’s within the specified time limit. Also, not to overlook, the open atmosphere which interaction helps to create inside the team that makes problems and disputes easier to solve.

“Taking into consideration team needs is essential to the overall accomplishment of the plan”

Be Aware of Problems

Sometimes being too confident allows you to overlook the probability of any issues. Be conscious. Almost anything can likely be flawed. And that will make you spend a little more time repairing stuff. So, always be prepared for negative situations.

Strike the right balance between negativity and positivity. Be realistic about it. Add time to your timeline before actually setting it, considering that something will go wrong.

Use Task-Management System

You must have a way to store and monitor each of the tasks and deadlines when handling software development. Whether you’re using Agile, SCRUM, JIRA, or Trello, this has to be a software tool.

Backlog grooming is one of the vital components of the project.

Usually, this procedure requires both a project manager and the team to verify the tasks in the backlog. The main objective of a backlog grooming session is to guarantee transition preparation is done for the next several sprints worth of system requirements in the product backlog. 

Daily backlog cleaning sessions often assist to ensure that the correct issues are given preference, such that the backlog of the company will not turn into a black hole. Backlog grooming is a process that resumes helping prevent unnecessary objectives and achieve deadlines.

Conclusion

A timeline may look dangerous, but somehow it encourages you to manage the time, determine objectives, and retain focus. Producing a product in such a set period creates customer loyalty, establishes a company’s image, and certainly contributes to the success of the project.

Naba Ahtasham

Author

Naba is a Content writer with Engineering Bachelor degree. She takes care of all the documentation and  a key person in making project strategy.

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Heathcare Mobile App Development

Heathcare Mobile App Development

 HEALTHCARE MOBILE APP DEVELOPMENT

Amongst the chaos of 2020, the most popular movement that came forward is the accessibility of medical services through mobile health applications. While the emphasis of these apps has already been on development for some years, the market for mobile health care applications with COVID has increased significantly. 

Different healthcare professionals and organizations are investing in the advancement of healthcare technologies to improve the standard of service and promote self-management behaviours for patients.

Innovations seek to simplify and improve the existing procedures, as well as to build new ways of providing health services. The medical system focuses on creating strong cooperation between hospitals, patients, and third-party providers. They evaluate the overall market condition, focus on public health, and introduce the specific models of treatment.

Quick and convenient access to the appropriate service has profoundly changed the regular patient experience and the interactions between patients and health care providers.

HEALTHCARE APPS FOR PATIENTS

One of the aims of efficient healthcare software development services is to provide patient-centered care. The healthcare app makers focused on groundbreaking designs that can offer ease and availability to have fulfilling clinical care.

Besides these, a further challenge is to reduce the expense of creating healthcare applications to allow treatments accessible and competitive for everyone. Health care companies should be competent in delivering a quality product by following consumer demands and customizing the software.

HEALTHCARE APPS FOR MEDICAL PERSONNEL 

Just patient-centered cannot thoroughly apply until the production company of healthcare applications insists on the interests of medical professionals. Information technology is not targeted at removing doctors but rather at empowering them and encouraging them to concentrate on patient-oriented, productive practices.

Doctor-oriented apps enable medical personnel to concentrate on day-to-day activities, sustain systems of medical services, and level of quality treatment.

FEATURES OF HEALTHCARE MOBILE APP DEVELOPMENT

Even though the creation of healthcare apps covers too many fields and offers specific features, several items will be similar to the production of a medical device. Any mobile application development firm in the healthcare industry is expected to follow the defined prerequisite standards for the development of such devices.

DATA PROTECTION 

The most significant obstacle for digital devices in healthcare is shielding confidential patient information from unauthorized entry. As patients and healthcare professionals are increasingly utilising these devices to capture and exchange health-related details, particular consideration needs to be paid to the protection of mobile data.

An application development firm needs to maintain the maximum protection and security of a patient’s records, including private details, login details, and financial information. Furthermore, with the advent of emerging technology, data security is expected to change as a modern phenomenon in the creation of healthcare applications.

TELEMEDICINE SERVICES 

Long schedules for a medical exam or a doctor’s consultation are a big issue in the pharmaceutical industry. The absence of primary care services also contributes to health degradation. Telemedicine, though, has answered the question adequately. 

Telemedicine is one of the most growing medical IT segments. Telemedicine, as the term implies, includes utilizing devices to share knowledge on medical issues. It is easy, cost-effective, and provides easy access to reputable physicians.

CLOUD-BASED SOLUTIONS 

Cloud-based Electronic Health Information (EHR) systems allow it easy to track hospital data, medical expenses, payment coverage, and more. Cloud-based technologies enable mobile device applications to the healthcare industry more available. The health service company provides improved data protection at a reduced rate through cloud-based technology.

PAYMENT SERVICES 

It is no doubt a case of organizing cash and getting reimbursement during a significant emergency. With the broad acceptance of electronic payments, data transactions have rendered access to medical care facilities simpler, particularly in medical emergencies. There are plenty of transaction forms that can build into a digital healthcare device, such as e-wallets, payment hubs, and more.

PERKS OF HEALTHCARE MOBILE APP DEVELOPMENT 

Healthcare applications are now one of the most potent resources for delivering health-related services to everyone with internet access through smartphones.

These apps have significant advantages, such as healthcare professionals may connect with patients through the healthcare app and save time

The app helps physicians to locate the details they require quickly. Furthermore, these apps grant permanent patient access whenever they need it, no matter what day or night. Hence patients may use the healthcare app to obtain the response to their questions, converse with their physician, or read any documents. 

Also, the apps reduce cost, and it lowers expenses as patients speak with physicians without needing to see them in reality, which lets patients minimize all expenses. 

Conclusion

Amidst the COVID-19 pandemic, the value of the mobile medical device is growing substantially. Modern technology has managed to improve software technologies for patients and emergency professionals alike. Those technologies continuously shift the healthcare industry’s mindset with groundbreaking software changes.

Codelabs has the honour and trust to be a significant personalized service company in the Pakistan healthcare sector. We have skills in the creation of smartphone applications for healthcare, where we strive tirelessly to deliver one of the most innovative and responsive medical applications.

Naba Ahtasham

Author

Naba is a Content writer with Engineering Bachelor degree. She takes care of all the documentation and  a key person in making project strategy.

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