It takes us only 2 weeks to create an app. After that, adding your content can generate new revenue. Before doing so, it is important to plan the right business model and consider how to sell your app to your follower base.
We have worked with several clients in the industry and can say that not everything works and selecting the right business model is crucial for generating significant revenue.
Subscription/Ads/ One-time fee
One option is to combine a subscription or ads with a one-time fee. Ads can be annoying, but you can generate more income if you combine a freemium-premium model. Connect an ad platform with your app and offer a low-fee monthly subscription. This gives users the option to have a freemium version or pay for a premium version without ads. This generates double the revenue.
Trial combined with Premium
Another option is to offer a trial period combined with a premium model. This allows users to test your app before paying for it. This business model only works if you have personalized content or a high-value training program. The downside of this model is that users only pay when they are highly committed, and the app is important to them.
Simple Premium
A simple premium model is to show the value of your app and offer freebies without giving access to the app. Users should be convinced that they want the app before downloading it. At the time of download, they should be sure that the app will be beneficial to them. It can also be helpful to try to convince users to buy a longer subscription than just one month.
Premium with 100% guarantee pay back
Another effective model is the premium model with a 100% guarantee of payment. People like guarantees, and while there is no trial period, the guarantee allows users to ask for their money back, which is usually less than 0.1%.
One-time fee
A one-time fee model can also work well. You can sell the app for a one-time fee and offer extra content for additional payments.
Based on our clients' stats, we have found that the best model is the premium model with a 100% guarantee of payment and a 6-month or 1-year subscription period. The price range for this model is between $19 and $59 for a yearly subscription fee.