Nov 17, 2013 05:38 PM EST
There are many ways to monetize your apps. App monetization for Android offers good revenue opportunities for developers and is beneficial to expanding the Android development communities. From paid applications, proprietary advertising formats to cross promotions, each application can be combined with different monetization techniques for developers. Developers can use different techniques for monetization for the business model.
One of the leading ad networks for monetization of apps is Google’s AdMob. The company was founded in 2006. AdMob was purchased by Google for $750 million. For developers, the company offers advertising services for Android mobile platforms and standard mobile web browsers.
Performance and impressions are key areas to driving app revenue. The majority of applications being monetized are based on paid apps model. Android developers also offer branded apps which are purchased from companies. Over the past few years, developers can also offer the option of a basic free app. The developer then charges a nominal amount for including additional functionalities or virtual offerings. This type of model promotes user engagement.
Developers can also monetize through a recurring revenue stream model. This model can develope revenues from micropayments as an in-app payment model. These type of monetization models for in-app purchasing is best for areas like social and gaming. Many developers are expecting more best practices to emerge from this model.
The Android application development offers a pay-to-download model but the industry has been rapidly changing to revenue based models. Ad monetization has become significant for revenue generation for Android app developers. The industry is still faced with the challenge of developing and implementing effective advertising strategies for mobile apps. The emerging medium requires ad spend within a competitive environment. The industry is still nascent.
For Android developers just entering the monetization of app market, some key resources in the industry today are identifying best practices. Developers can seek out community based resources. Hackathons and Developer Alliances can also be helpful. These are resources which offer the right monetization tools and offer strategic outlook towards app monetization opportunities. Community for developers is an important element for growth.
Android still has challenges within this market, especially with fragmentation. The open-source operating system has caused inconsistencies for developers. Developers also face challenges with finding “developer friendly experiences.” With OEM and Google not yet fully on board with offering more conveniences to developers.
Application development has encountered an influx developers and market growth for smartphones and tablets installation. The global market is estimated at revenues to reach $15 billion this year. Android developers income potential for app monetization can reach up to thousands of dollars per month. Global market entry is simple and also allows for minimal start up costs for new app development opportunities.
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