Brands and associations launch mobile apps for all sorts of reasons. But did you know that you can generate revenue through your mobile app? This is called monetization, and it’s a great way to make money for your company or association.
Consider creating “tiers” within your app
There are all sorts of features and functionality through a mobile app. Choosing the right features is important when launching your app. You want to match your employees or member’s needs to the technology you can provide to them.
A great way to monetize your app using features and functionality is by creating “tiers”.
I’m sure at some point you’ve signed up for a free service or have downloaded free content. But at some point did you get a notification that there were more services that were accessible or better content that was available?
This is where monetization comes in, and where you can tier your content and features.
Create at least two tiers of accessibility. Provide basic information, resources and functionality in the free version. This draws in your audience and gets them to engage with your brand or association.
Then create another tier providing more content and more features that would be enticing to your audience. Charge for accessing the next tier. Be sure it has value to your audience and they will be inclined to upgrade.
Add value through educational opportunities
If you’re a member-based association, educational content can be quite valuable to your members. Through a mobile app, you can offer learning opportunities that can help your members grow within their respective professions.
Consider creating training modules and offer them right in their mobile device. Leverage video content for better understanding and engagement.
You can charge a premium for offering knowledge opportunities and members will pay for them.
Create elite events
Events are a big part of associations. Whether they are for social and networking purposes or for pure entertainment, members love events.
Create free events that are accessible to all members, but consider creating one or two really high-powered events that members might want to pay for. For example, bring in a guest speaker that perhaps resonates with your audience. Offer an “exclusive” opportunity to attend this event, then provide some sort of takeaway. Maybe even offer a one-on-one session with the speaker or a special guest. People will often pay for interesting experiences, so keep this in mind when creating your event.
Regardless of how you plan to monetize your app, remember that creating value for your members is your top priority.