A Comprehensive Tutorial on Monetizing and Selling Your App
Maximizing revenue and pushing your app to unprecedented success are techniques that must be leveraged to unlock all the potential of your application. This goes beyond just developing the app. Here, we’ll show you how to sell your app like a pro, using tried-and-true strategies and innovative approaches to increase your app’s earnings. This article will serve as a guide for you as you embark on the journey of selling your app, whether you’re starting from scratch or looking to improve an existing app with a pricing model.
Why Should You Sell Your App and Not Offer It for Free?
Let’s start with the first section of our article, which is why you should consider selling your app and not providing it for free like the majority of the applications on the app stores. This has been a great debate on the app market, as users are stuck in the dilemma of using apps but missing out on paid apps because they know nothing about the functions and features they hold. If you don’t know, there is a list of paid apps that are super expensive, yet people use them.
The question as to whether you should or should not have many answers. But all the answers depend solely on the developers and the application itself. So, for instance, a developer can start considering selling his app on app stores to gain a steady revenue stream. Many developers or development teams would be working on multiple projects at the same time. Therefore, they would use the additional source of revenue to support these other projects.
Another reason why you should get deep into the question of how to sell an app idea, is to provide unique premium features. Many apps that are offered for a price or subscription usually include features that no other app contains. This not only establishes a unique selling point for the app but also reduces the likelihood of imitating these features.
No, we are not done; there are many other reasons to discuss. If you are looking to target a niche, then selling your app is the ideal option. You can reach a more targeted demographic with a paid app by appealing to their desire to pay for premium features and experiences. You may see more in-depth engagement, helpful comments, and organic growth from this targeted group if you build your app with them.
Free vs Paid App: Pros and Cons
Since there are pros and cons to every situation on earth, there are both free and paid apps. Before deciding to sell your app, you have to weigh both the pros and cons to make a sound decision.
Let us start with the pros and cons of a free app. The first and foremost pro of a free app is its wide accessibility. A free app is always available on all app stores, where users can download it and enjoy it immediately, unlike the paid app, where they have to make up their minds and decide whether or not to buy it. Free apps also have better chances of acquiring a large number of users, as anyone can easily start using them.
You’d think that free apps wouldn’t have any cons; I mean, they are free. However, free apps have plenty of cons. The first one would be retaining users. Users won’t be as committed to free apps, which makes it hard for app developers to retain any. Additionally, some users may associate free apps with poor performance and quality or an excessive amount of advertisements, which is the main cause of user annoyance.
Paid apps’ pros are pretty much the opposite of free apps’ cons. So, for instance, one of paid apps’ main pros is their high perceived value. People always associate paid apps with premium features and unique experiences, which drives them to pay for them. Also, users would be sure that they were getting an ad-free experience with zero frustration. The main con for paid apps is the competition. No matter how special the app might be, users can always find a free alternative that they can use. This puts app developers selling their apps in a bit of a tight situation.
Benefits of Selling an App For Developers and Users
For Developers:
Direct Revenue Generation
An easy way to start making money is by selling your paid app. Developers can make money off of their ideas, time, and skills since they are paid right away. That is because they are looking for a steady and quick return on investment and may find this one-time payment plan very appealing.
Stable Income Stream
The revenue from selling your app is more stable and consistent than that from in-app purchases, advertisements, or other monetization methods. The moment a user pays for the app, the developers get their cut, no matter how much time the user spends using the app or how many purchases they make. With this level of consistency, budgeting, and long-term app development can go more smoothly.
Quality and Value Perception
Consumers’ perceptions of an app’s value and quality should take price into account. Typically, a premium app shows that the developer is more invested. Users may have a more positive impression of the app’s worth, which could lead to greater satisfaction and less tolerance for the common limits and invasive advertisements offered by free apps.
Reduced Dependency on Ads or In-App Purchases
By choosing a paid model, developers can steer clear of monetization strategies that could compromise the user experience, such as ads or in-app purchases. They can keep the app’s functioning and user satisfaction elevated while focusing on providing a flawless, ad-free, and feature-rich experience because of their independence.
Greater Creative Freedom
Developers are given more room to express their creativity and innovate by selling their apps. They are free to create whatever they want without worrying about having to include ads or artificial limitations to encourage in-app sales. Because of this independence, they can follow their goals while creating an engaging, user-centric experience.
For Users:
Ensured Quality and Reliability
When selling their apps, developers strive to provide value that matches the price. As a result, quality is usually prioritized. Users believe that paid apps are more reliable, secure, and well-made than their free counterparts. The user may have a more positive experience as a result of this impression of quality.
Full Access to Features
Typically, users of paid applications are granted unrestricted access to all of their features and functionalities without any restrictions or extra expenditures being required. Users can explore and use the app to its full potential without the usual restrictions or paywalls seen in free apps.
Maximized Privacy and Security
User data protection and transparency are frequently given the highest priority in paid applications. With app sales already providing a steady stream of income, developers are less motivated to gather and sell users’ personal information. The result is a more reliable app ecosystem since users are less worried about data misuse and privacy breaches.
Regular Support and Updates
When you pay for an app, you get regular updates and support. Maintaining and improving the application is encouraged for developers to keep their subscribing user base satisfied. Consistent updates bring your application up-to-date by making it compatible with new operating system versions, fixing bugs, and adding new features. You’ll enjoy a more polished and modern experience.
How to Sell Your App: The Complete Process
The last part of how to sell your app would be breaking down the whole process. The process of selling your apps to users is somewhat easy but requires much effort. So, let us explore it together,
Identify Your Audience
Identifying your audience is always a priority, either before development, during, or after. This step will help you get a glimpse of who you will be crafting the application for. By doing so, you will have better insight into how the app should look and function.
Focus on Your Premium Features and the USP
The second step of the process takes place during development. This step would need to focus on the features that developers would include to attract users. As we mentioned before, what drives people to try paid apps is the fact that they associate them with premium features and experiences. Therefore, you have to focus on the features and value you would provide your users with.
Choose Your Pricing Model
The next step would be choosing a pricing model. If you think that selling your app is limited to only directly buying it through the app store, then you are wrong. Some paid apps can be installed for free; however, they would include a different pricing model. For instance, you can implement the Freemium model, which involves installing for free but only getting limited access, and users can pay for more capabilities.
Market and Promote
Users should discover your app and learn about it to be drawn to it and actually consider buying it. This can be accomplished through an effective marketing and promotion plan. To ensure selling your app, you need to focus on crafting a consistent and engaging marketing and promotion plan that could pique users’ interest.
Wrapping It Up
The process of how to sell your app may seem complex, given that before the intention to sell, a developer would spend much time and effort in developing and tailoring the app’s components to appeal to the target audience. But don’t you think that if we made development easier, selling your app would be simple as well? Well, how? This is where the nandbox magic comes in handy. Nandbox is a leading native app-building platform that will help you ease the burden of going through tedious development processes. Through nandbox, you can create, promote, and publish apps in a matter of minutes. With an intuitive drag-and-drop interface and a rich library of features, you could offer premium features and a unique experience that will help you sell your app effectively. Seize the chance and try the nandbox app builder for maximized revenue!
