The main aim of every app developer and business behind creating a mobile app is to increase their revenue with it. If you are also a business/app developer looking to monetise your app, in-app purchases are the easiest and the most direct way for you to do it.
In-app purchases are different kinds of digital purchases that are made within apps by their users. You can add them to your app irrespective of whether or not the app itself is a paid one.
No matter how old your app is, the following are a few ways in which you can use in-app purchases to increase the app’s profits:
Add New Purchase Options
To increase your in-app purchases, you simply have to add more things that your users can buy within your app. You can add new levels and lives in games, full access to books, subscriptions of streaming apps, new filters for photo apps, etc. Brainstorm relevant ideas for your business and implement them once you have a few.
Increase The Prices
This is another easy way using which you can benefit more from your in-app purchases. Setting just one price may not be profitable for you in the long run. After you introduce your in-app purchases and start getting buyers, experiment with your prices and use the one that is the most profitable for you.
Add A “Remove Ads” Option
Your users wouldn’t want their experience of using your app to be interrupted by ads. You can offer users the option to pay to have ads removed from your app. This will be a win-win situation for you and your users – it is a one-time payment that helps to improve user satisfaction and increase your user base, and the amount substitutes the money that you can make through ads.
Introduce A Customer Loyalty Program
A customer loyalty program is one in which an app’s most frequent users are rewarded. As a part of the program, you can offer users points, rewards, credits, etc. for making in-app purchases within a period of time which they can convert into a gift, a discount, etc. at the end of that period. This technique also helps you to increase user satisfaction and earn loyal customers.
Create Referral Programs
You can ask your happy customers to refer you to their friends and family once they complete a purchase on your app. It does not require any investment from you or too much effort from your users, and will also improve your app’s download rate. You must remember to offer referrers and referees incentives like discounts, coupons, gift cards, credit points, or free coins after every successful referral.
Create Limited Offers
Offers that are available throughout the year don’t get as much attention as those that are available for short periods of time. Offering a limited stock or offering something for a limited time will show scarcity and create urgency in your users. You can create offers for seasons and festivals, or create a new “deal of the day” every day. However, this strategy won’t work if you have just launched your app. You can implement it once you have gathered an active and engaged user base and earned their trust.
Personalise The Offers
It won’t be possible for you to satisfy all your users with just one offer, irrespective of whether they belong to different demographics or the same one. Every user will have a different preference. You can use their app behaviour data and location data to send them offers.
Most users opt out of notifications because they receive too many of them about irrelevant offers. Instead of sending your new users notifications for every offer, observe their app behaviour for some time and then send them relevant ones. For example, players with full lives wouldn’t want to see notifications for buying extra lives.
Use Colour Psychology
Human beings are visual creatures and tend to associate everything with colours. Every colour has a different meaning, and you can assign different colours to different call-to-action buttons to elicit relevant actions on them from your users. For example, you can use red to create urgency, blue to evoke a sense of reliability, stability, and trustworthiness, and yellow to bring about feelings of cheer, optimism, and positivity. It is recommended that you test and check how your users are reacting to each of these colours and choose accordingly.
