Best Practices When It Comes to App Monetization
In this blog post we are going to look at the best ways to monetize your app. We discuss various topics. We look at the optimal design for the paywall landing page. In addition, we discuss how you can offer value to users via subscriptions. We also address the question of why free trial periods are so effective.
How Do You Design the Best Paywall Landing Page
Design, word choice and visuals are essential for responding to the emotions of the user. Social proof, such as reviews and number of followers, increases the credibility and trust in the app or brand. While clear language and storytelling ensure that the user is more engaged in the choice process. Simplifying the choices to be made is also important, try to prevent someone from becoming overwhelmed. The strategic design and placement of call-to-action (CTA) buttons has an impact on conversion.
To create urgency, you can use tactics such as limited-time offers, this evokes 'Fear of missing out' (FOMO) and stimulates faster decisions. Personalization and relevance further improve the effectiveness of landing pages by aligning the content with the needs of the user. Clear communication and continuous optimization is essential to maintain user engagement and increase conversions.
Bringing Value to the User with Subscriptions
How do you persuade someone to take out a subscription on your app? Properly explaining the value of paid features is important in this. Above all, be transparent about the price and what the paid features are. Users do not want to be surprised with hidden costs.
A clear overview of the premium features such as that of CamperContact helps with this.
It is a best practice to offer different subscription options, so that users can more easily make a choice that suits them. Monthly subscriptions have an average churn rate of 4%, while for annual subscriptions this lies between 5-7%. Depending on the number of users who take out a subscription, an annual subscription can ultimately yield more value.
Therefore it is wise to also offer an annual subscription with a discount. This makes the long-term option more attractive and reduces the chance of cancellations.
Trials
For many people it applies that they want to try something before they want to pay for it. For this reason, free trial periods are the way to convince someone of your product. For example, apps with a trial period of 4 days have a conversion rate of 45%. Depending on how complex the functionalities of your app are, you can offer longer or shorter trial periods.
Conclusion
Successfully monetizing your app therefore revolves around a combination of careful design and strategy when it comes to subscriptions and trial periods. With the goal of getting and retaining as many paying users as possible. With new features such as Apple's "win-back offers", you can win back churned users. Read more about this in our blog post about this feature.
In addition, continuing to analyze the data and carrying out iteration through, for example, A/B tests is crucial. This way you keep learning about what works best for your app when it comes to paywalls, subscriptions and trials.
Need a clear strategy for monetizing your app? Get in touch.
