Do you have mobile applications installed on your smartphone? The answer is probably YES! It’s the digital era. If not now, when will the tech exp
Do you have mobile applications installed on your smartphone?
The answer is probably YES! It’s the digital era. If not now, when will the tech expand?
Notably, there are over 80 million apps on app stores today. What does this indicate? Clearly, mobile applications have gained emphasis, and every business in the competitive world is inclined towards the same.
Making money via applications like shopping, food delivery, taxi booking are some typical examples, but is building an app for newspapers worth it?
IT’S A BIG YES!
Everyone’s familiar with the fact that customers only pay for applications when it’s highly essential or an app is offering high value for money. One of the best examples is Netflix, which is exceptionally popular amongst the audience, and users pay for the same without giving it a second thought.
So, if you’re thinking of monetizing from your newspaper or magazine app, how will you create a profitable monetization model?
Before getting ahead, the bigger question is:
Why Does Your Magazine Need a Mobile App?
Before the development of a magazine app, the company must have answers to the questions mentioned below:
- Can the company bear the cost of building an application?
- Does the app monetization method have the potential to kill UX?
- Which app monetization model will benefit the most?
Don’t worry! If you don’t have answers to these, fortunately, we’ve done the thinking for you. Go through the reasons why your magazine needs a mobile app:
Brand Recognition and Importance
Sure, having a public presence for your brand is essential, and the activity is being handled by the magazine’s website. What about making your brand a household name? That’s what your mobile app will deliver.
Nowadays, most people like using mobile apps instead of surfing through websites. It is also because apps consist of features like push notifications, live support, etc., that personalize the user experience.
Expanded User Base
As the brand gains recognition, its audience expands. Undoubtedly, more and more people will begin downloading the app, making your magazine a popular name. Also, if the same users visiting the website start downloading the app, it’s still no harm as the app is likely to make it to the top of the domain.
Enhanced User Experience
There are various functions or features that an application can provide, but a website cannot. Additionally, customers can make in-app purchases to use some extraordinary features, enhancing the user experience.
Sure, application development demands investment, but also think about the profits you’ll gain once an exceptional app is built. You can build different monetization strategies that’ll help maximize your profits.
Monetizing a Magazine Mobile App
Mentioned below are a few top mobile app monetization strategies to make money. So, let’s get started!
Will the users pay for the app?
According to research, not more than 50% of app users are willing to pay for a news and entertainment application. Therefore, the best option is to generate app revenue by putting up your magazine application for sale.
A combination of free and premium mobile applications is called ‘Freemium.’ The model enables its users to download the app for free and check some of its functions. However, to use some of the advanced functions, users need to pay. Adopting this model is a win-win scenario as users can check the app before investing in the same.
Most mobile app developers opt to build a subscription-based model than a paid application. The app model allows its users to download the app and access the same before paying.
Free Trial App Monetization
One of the best methods to convince a user to buy or subscribe to an app is by offering a free trial app.
Who doesn’t love using services for free, especially when it’s a trial for your favorite paid apps?
Some of the top news and magazine agencies follow the free trial app monetization method and offer the audience to read the content for free for a while. Once the trial period gets over, the consumer can continue to read after paying for the same.
Sponsors and Partners
Any brand and its mobile application doing well in the industry are likely to attract numerous sponsors and partners. Therefore, the developers must focus on providing high entertainment factor and content that attracts a large amount of audience.
Cost of a Magazine Application Development
The cost of app development doesn’t depend on one or two factors. In fact, numerous factors have a tremendous role to play when it comes to estimating the expenses. For better understanding, some of the factors are as mentioned below:
- Platform: Android or iOS
- Number of features integrated
- Cost of marketing
- Cost of design
- Developer’s cost
- And more!
Mobile applications hold the potential to improve brand exposure and bring consumer engagement. However, monetizing your app will only happen if you adopt accurate monetizing strategies.
Now, have you understood the importance of mobile app development for your magazine and would like to take a step forward towards the same?
Connect with a top mobile app development company and receive precisely what you desire. For more information on adopting the right monetization method, experts have got you covered!
TILL THEN, STAY TUNED FOR MORE!