Mobile App Development: Types and Revenue Generation Strategies

The era of smartphones has changed the dynamics of technology. Earlier, when many companies focused on developing a website for their brand or promoting their products via printed mediums, they are now focusing on discovering various ways to get into their users’ smartphones.



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Mobile App Development: Types and Revenue Generation Strategies

The dependence on mobile applications has significantly changed an entrepreneur’s aspect while developing technology. Now, users heavily use mobile applications, and the reason is a diverse range of applications that enhance a mobile device’s usability. 

Nowadays, people use mobile applications even to execute their daily tasks, such as counting how many steps they have walked, setting up an alarm to wake up, or setting up alarms not to forget drinking water. Even such basic things are being managed by applications globally. 

Therefore, it is apparent that creating a great mobile application would suit any business owner the most. 

Possibly the best thing to do here would be to perform hybrid app development for your application so that it can reach every user using a smartphone- here, there, everywhere! 

So let’s get started with everything you must know about developing a mobile app:

What is Mobile App Development? 

If we look for the actual definition, mobile app development would be best defined as a process that allows coding software for a portable device. A mobile application is developed to take advantage of the unique features a mobile device offers. 

Types of mobile app development:

  • Native app development:

Developing a mobile application with native elements is one of the most popular app development techniques. These applications are built mainly for a specific mobile platform. Thus codes for both Android and iOS are different. Developing a native application provides superior quality in terms of functionality and features. This is the reason why businesses prefer investing in native mobile app development.

  • Hybrid app development:

If you aim to develop your application in less budget quickly, there’s nothing better than hybrid mobile app development. Developing a hybrid application is extremely convenient for both the developer and the entrepreneur (for budgetary reasons). When you create a hybrid app, you only have to code the application once, and it can be run on every operating system. Therefore, the application can be built for various operating systems in less time and a fixed budget. 

  • Progressive Web Apps:

A progressive web application refers to an app similar to a native app that can be accessed via any web browser through your phone. These applications are autonomous. Therefore, you don’t have to download and install them to run them on your device. They are simply responsive websites and can manage their user interface as per the device it is being used on. 

If you wish to “install” a web app, all you can do is bookmark the URL to your device. 

  • Minimum Viable Product:

The minimum viable product is developed with the most basic functionality to initiate the process of generating interest in potential users or investors in your product. The fundamental logic behind developing an MVP application is to get a clear idea and feedback on if your application will be accepted or not. 

Based on this, you can decide on the investment and features you should put into taking your application to the next level. 

We recommend going for hybrid mobile app development out of all four if you want to have it all, features, performance, and platform independence. 

Developing a mobile application generally consists of six stages. However, it can vary upon the company you choose to hire. 

Nevertheless, these six are the most necessary ones, ones that can never be ignored. 

The six stages are: 

  1. Information gathering
  2. Setting up business objectives and goals
  3. Prototyping 
  4. Defining the back end
  5. Development
  6. Testing

 An application must go through these six stages to actually get developed. Therefore, no matter which company you hire to build your application, you will still have to take it through these six stages. 

Now let’s hop on to the topic that interests the app owners to the most! 

What are the best ways to generate revenue out of mobile apps?

Various ways will help a business owner generate significant revenues via their mobile apps. Let’s find out some:

  • In-App Advertisements:

Adding ads to your application is one of the most popular yet most straightforward ways of generating revenues out of your app. You will have to permit the display advertisement to your application if you need your in-app modules to work.

The advertisers will pay you either on the numbers of impressions they generate via your app or by the clicks they record. 

  • Subscription:

This is another highly effective module and a presentable tactic to generate high revenues. The model is a fair deal for both the app owner as well as the user. In this model, you can make your application available for all but limit the free content one can access.

Provide premium content only to subscribed users. You can ask your users to make monthly, quarterly, or yearly subscriptions to your mobile app just as done by Netflix.  

  • In-App Purchases:

Many studies suggest that more than 50% of applications generate their revenues with in-app purchases. In this model, paid in-app purchases such as premium content, bonuses, games, unlock upgrades, and virtual currencies are offered. 

There is another option for generating revenue, and that is to tag your app “paid,” which means users will have to pay you a certain amount to use your application. However, benefitting from it is a difficult task since users generally opt for free applications, and there are many of them. 

Conclusion:

Whichever way you choose to go, be it with hybrid app development or with native app development, one thing is sure you would have to take all appropriate measures to develop an excellent application worthy of generating good revenues. 

Mobile application development is an open book. Anyone can read and access anything from it. Thus, what you know is most probably known to someone else as well. Therefore, only the best tactics will help you escalate your business growth, get into your user’s mobile phones, and continue staying there. 

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