The concepts of mobile app monetization are becoming popular among app publishers. Because of the changing market demands and increasing need for revenue earning through applications, many concepts are invented and put into effect by businesses to earn more revenues than before. One such amazing concept is freemium applications.
Freemium Apps: A Gateway to Earning More Revenues Faster
While app stores introduced the concept of paid apps, less number of mobile applications often led the users to purchase the applications because of the scarcity of available options and had to mandatorily choose paid applications. However, since Google introduced Android as an open-source platform, the number of smartphone manufacturers and the number of app development firms rose instantly and it had a significant impact on app revenues earned.
Freemium applications offer excellent support for app publishers as they can earn revenues through it while also, users can use it for free. Confused? Read further. Freemium applications work on the concept of conditional charges. Users are granted free access to app functionalities for a limited period of time after which they have to pay a certain fee to redeem their use and unlock access to the functionalities. This model lets the user experience what the app solution is capable of offering and it benefits the app publishers also.
Methods of Offering Freemium Access
There are a lot of ways of offering freemium access to an app solution. It ranges in wide varieties and the publishers can choose one according to their app functionalities and features.
Limited Access to All Features
Freemium applications can be launched in any industrial niche. Some of the event management system in php are developed to provide access to all the features for a limited period of time. Here the time constraint is kept in mind rather than the number of features offered. It helps the user understand the functions offered by the app solution better and they can decide whether to buy the solution or not.
Subscriptions
Subscriptions are the current trend among app publishers. Instead of buying the entire app solution a single time, the user can be offered different packages where they can choose to subscribe to the app solution and pay monthly fees for using the app solution. Limiting the number of features provided in each package, publishers can ensure maximum revenue earning and profit-making from the app.
The subscriptions can be anything. It can be the signup fees taken when a user registers for the solution. The general approach followed can be understood as: if a business is offering an app, they take signup fees from all users and also apply service charges when they place a request and book an appointment through the app. This ensures a steady and continuous revenue generation.
Conclusion
Freemium apps are one of the newer concepts in the market. While many businesses are earning revenues from it, the increasing demand for such applications has led many to choose it over other approaches. Therefore, businesses willing to earn great revenues through apps can go freemium if their customer base is ready to pay the fees they set.
