There are several common app development mistakes that developers make with trying to make money through their iOS app, and these gaffes could make or break your end-product. The first step in creating a sound monetization strategy is knowing what to avoid. Here are five things you should steer clear of when monetizing your iOS app.
Doing it On Your Own
No matter how talented an iOS app developer may be, creating a successful monetization strategy is a completely different ballgame. Enlisting the help of a consulting agency can lead to a well-tested monetization strategy that is implemented in an optimal way. Many of these agencies offer more than just first-hand experience; they also provide granulated data and analytical tools that present the best path towards generating revenue.
You can also gather valuable insight by looking at the monetization strategies of similar apps or by finding like-minded developers or potential users to bounce ideas off of. Needless to say, it’s important that an iOS app developer doesn’t jump straight into monetization without seeking advice or a helping hand.
Basing Decisions on Emotion Instead of Analytics
Another common mistake that an iOS app developer is prone to making with monetization is basing decisions off emotion or a gut-feeling and ignoring analytics. No matter what monetization strategy you think is the right choice, it’s virtually useless without data to back it up. There’s no iOS app developer that knows every single thing about monetization, users, and other parameters that are critical to generating revenue.
Therefore, you should always gather as much data as possible before deciding on your monetization strategy. Various analytical tools will help paint a complete picture of what money-making tactics you should use for your app. There are a plethora of parameters that should be looked at before settling on a plan, including user behavior, app adaptation rate, user demographics, ad format performance, and more. Some of the most popular analytical tools, such as InMobi or StartApp, provide insight into how to keep your audience engaged and integrate advertisements without negatively impacting the user experience or the functionality of your app.
Lack of Creativity and Planning in Advertisements
If your monetization strategy has a heavy focus on advertisements, make sure that you consider factors like placement and creativity. For instance, a cost-per-install (CPI) model enables customization for ads, allowing you to develop custom banners, buttons, and other features that advertisements can be coalesced into. By utilizing creative and relevant ads, you will be able to achieve a higher CTR, ultimately leading to a stronger revenue stream.
There is an array of metrics to take into consideration when planning ad placement, including user impressions, advertisement formats, fill rate and other ways to measure how efficient your ads will be. Most importantly, an iOS app developer should prioritize creative ads that will entice users to click without impeding the user experience and overall engagement.
Putting User Engagement on the Backburner
Some iOS app developers think that once a monetization strategy is deployed, they can just sit back and watch the money starting rolling in. This might be the case initially, but this strategy will quickly crumble if you don’t keep user engagement front and center. To keep users satisfied and engaged, you should constantly update your app with new features and fresh content. No matter how well-developed your monetization strategy, it will be null and void without having an excited user base to advertise to. So, while focusing on monetization is obviously important, it’s easy to lose sight of the most critical aspect: user engagement.
One-Track Minded Monetization Strategy
Some iOS app developers believe that they should only travel down a one-way road when it comes to monetization. Should the app be free or paid? Should you use in-app purchases or advertisements? The truth is, the most successful monetization strategies contain a mixture of different revenue streams.
For example, you can deploy a free version of your app to users, but also offer a premium version with more features that can be purchased. Another way to increase revenue is tastefully implementing placed advertisements and offering in-app purchases that enhance the user experience. In other words, don’t have a one-track mind when developing your monetization strategy. By combining different methods and not putting all of your eggs in one basket, you will ultimately create more opportunities to make money from your app.
As you can now tell, avoiding the wrong monetization path is just as important as picking the right strategy. By avoiding these common app development mistakes when attempting to monetize your app, you will steer clear of the mistakes that are commonly made in iOS app development. You should always be open to obtaining the opinion of experts and users, utilizing analytical tools and data, and not getting too caught up on one potential strategy. If you keep an open mind when it comes to monetization and always put user engagement at the forefront of your strategy, your iOS app should be a financial success.
This guest post was written by Michael Kelley, a professional tech writer and content strategist with an app development background. He specializes in Android & iOS app design, as well as blockchain &