What to choose between Free and Paid Monetization model?

What to choose between Free and Paid Monetization model?

Now when billing the App Store has become the next Gold Rush, we can’t ignore how tempting the mobile apps market has become. Earning from unique apps is not hard and many apps have already got swept up into tales of incredible revenues – like Flappy Birds earned $50,000+ per day model. But earning money from your app, which is floating in the ocean of Appstore is not easy, we need to gamble away our app monetization strategy to monetize more and more from our app.

The key to successful monetization is exactly understanding the AppStore and your target audiencesand undoubtedly,choosing the right monetization model that best fits your app. As monetization model varies from free to paid apps.

What Trends Say?

What Trends Say?

What Trends Say?

Since its inception, the App Store landscape has revolutionized. However, at the beginning, it was mostly occupied with apps that were operating on a paid model. And, for marketing their apps and making it popular among its users, some developers chose to release two versions of their apps – a limited free version and once users start getting engrossed in their apps, they use to release its full premium version. The strategy behind these releases was initially offering users to try the app for free and then once they start engaging with the app, asking them to buy itsfull premium version for a small price if they relishedthe app. However, this consumer-friendly model is no longer as popular as it once was. As nowadays, App Store today is conquered by freemium, or free-to-play (F2P), apps. Do you know – how these apps monetize? – Through in-app purchases (IAPs) or advertisements or a combination of both.

Premium Model

Here’re a few are some situations we’ve noticed where apps flourish on premium pricing.

Freemium Model

Freemium pricing model is currently the most popular model and widely accepted by developers for monetizing their apps. However, this pricing model has faced a lot of criticism, as the quality of freemium app experience is commonly depends on how many IAPs are integrated within the app. And, developers are also considered as the providers of limited essential features and functionalities as through in-app purchases they are asking users to pay for getting more enhanced features of the apps. But, despite of these limitations, users have shown that they are willing to suffer such restrictions for free content.

Here are a few apps that thrived by using freemium pricing:

As, we said AppStore is flooded with apps, which increases the possibility of many competitors of one app and your app is bound to face competitors every step of the way. For making your app a big hit, whether it should come up with some unique and revolutionary features or backed by any prominent publisher. However, for games standing out in completion is more difficult because of their fast depreciation rates and short-lived fads. So, to stayahead in the competition both paid and free app developers need to experiment new methods of monetization apart from creating world-class apps.

Success metrics of freemium model is depends on the IAPs, as users spend a substantial amount of money on IAPs. And, developers of successful freemium apps have reported earning high revenues because they have a small percentage of daily active users (DAU) who willingly purchase app’s IAPs to enhance their experience. However, many people have a low willingness ratio to pay for IAPs, because they are open to spend hundreds on paid apps, which are known for their quality and better experience as compared to freemium ones.

Apps with Advertisements

Nowadays, many developers have even started including advertisements in freemium apps, alongside IAPs to better monetize their apps because these ad networks, which are easily available today offers developers an opportunity to quickly monetize their apps with a little risk. However, mobile advertising started with solely banner ads, but as it grown, it started including video, interstitials, notifications and more.

For making your app successful firstly, it’s always important and recommended to explore the best app monetization model that best fits to our app and find the most rewarding format as well because with so many available ways to monetize your app, it totally depends on the app and its target audiences. And secondly, wisely choose best app monetization agency that has expertise in monetization of apps. Parangat Technologies is a world-class mobile solution provider that specializes in providing end-to-end mobile solutions including consultation, designing, development and app marketing as well. To more visit our website www.parangat.com

So, always keep up with the trends and current fads to implement the right monetization strategies that will help you drive download and maximize revenue.

mHealth: Digitization of Healthcare industry

mHealth: Digitization of Healthcare industry

Have you prescribed mHealth app yet? No…Soon you may. Mobile Health is one of the most rapidly mounting fields of digital health. Due to its increased access and higher potential it is becoming popular in both the segments – consumers and healthcare professionals. The explosion of mobile devices and digital health and wellness applications are revolutionizing the way healthcare industry provide services, as well as how consumers take it. And, due to a range of mHealth initiatives across the world, industry specialist and analysts are expecting that the global digital health and wellness market is expected to grow to US$12 million, in the years ahead.

Since, mobile health applications are intensely expanding its reach and efficacy by facilitating healthcare industry especially consumers in their daily tasks, such as taking prescription of drugs from clinicians, tracking their health issues, and managing their health and wellness information. Many mHealth apps currently in the market helps in tracking and collecting information by way of smartphone app, phone, computer, and wireless monitors. And, for health and wellness apps the tracked variables include food, blood-sugar and other medications. With the help of these apps, healthcare professionals amalgamate the information collected and transform into a clinical recommendations. Apart from helping in taking clinical recommendations, these apps also allows its users to make real-time feedback from the patient, recommending them as per their health conditions, such as, recommends the consumers what to eat if their blood sugar or pressure level is too low. mHealth apps are spanning its wings in every industry verticals of healthcare industry. Let’s take a look on a few popular verticals of health apps:

Awareness Apps – To educate consumers and promote health awareness among them by providing tailored tips and information. And, for this category of apps articles, tips, podcast, videos etc., on diets, exercises, everyday habits, research results etc., work as a channel between consumer and healthcare professionals.

Care Support– To help patients in basic diagnosis of illness, let them know its clinical care and maintain their records etc.

Monitoring and Advising– To support and advice patients by providing appointments, medications and precautions etc.

Quick Emergency Medical Response– To provide proper and quick assistance to patients with necessary care during emergencies, accidents and disasters.

Policies and Insurance– To share policy related information on the app and help them in enabling claims and reimbursements etc.

Medicines and Pharmacy– To facilitate drug manufacturers by assisting their customers in ordering medicines, reminder alerts etc.

Yes, Mobile apps are the future…

Yes, Mobile apps are the future

Yes, Mobile apps are the future

While mobile healthcare and wellness apps are thriving, both by consumers and providers, but its early phase yet for healthcare industry. Mobile Health has a huge potential in healthcare industry much beyond what we are beholding today. And, for consumers, expansion in Mobile health apps will provide more accessibility and control over better management of their health.

A Few Stats – According to a PWC survey – ‘’64% of doctors believe mHealth market to be full of exciting possibilities in the days ahead’’. A study commissioned by Telenor Group and the Boston Consulting Group in first quarter of 2012 revealed that – ‘’30% of smartphone users are likely to use “wellness apps” by 2015 and mobile is the most popular technology among doctors since the stethoscope’’. The survey further revealed- ‘’costs in elderly care can be reduced by 25% while maternal and prenatal mortality expenses can be reduced by as much as 30% through mobile solutions’’.  As per a recent PwC Global Healthcare survey, 59% of the consumers using mHealth services reported that these services have reduced the number of visits to the doctor.

However, technology advancement has resulted in many ground-breaking technologies including Wearable Tech, Smart Watches and Google Glass etc., which are also expected to share appreciation of innovation and usage in Healthcare industry. And, as the technology further advances and benefits become more evident, we will see more advanced usage of these technologies.

Strategic Design: 5 Steps for Developing Successful Apps

Strategic Design: 5 Steps for Developing Successful Apps

In a technological world where usage of smartphones and tablets is rising exponentially, the prospects to make a name for your brand or yourself, and definitely a ton of money, by your app are huge. Whether you’re building for Android, iOS, Windows or Blackberry, you need to consider some of the very essentials factors like bug-free coding, captivating app designs, targeted and proper marketing strategies, design strategies to develop apps etc. to make your app a big hit. And, once you have the basic idea of your new app and have done in-depth analysis of the user base you are targeting, the next most important step on your app journey is – Design process.

Design of an app has the capability to make your app either a big hit or leave it untouched in the ocean of app store that is full of millions and billions of apps.

“Design is a funny word. Some people think design means how it looks. But of course, if you dig deeper, it’s really how it works.”

– Steve Jobs

There is one popular believe that designing teams’ job end when they handover their app designs to the respective teams. But, now everyone knows that the team isn’t just accountable for the look and feel of the product, they are also responsible for the communication between the product and its audiences. That’s why it’s essential to have proper interaction of UI/UX designer right from the ideation till launch with the development team to end the problems that their end-users may encounter due to lack of proper UI/UX design and make it a big hit. Hence, whether you are helping your end-users in making their tasks easy or providing them information or entertainment, proper design strategy and its right implementation is a crucial aspect of the app development process.  Let’s take a look into steps to follow while making a proper strategy of the design process:

1. Assessment of the tasks

You can’t make correct designing strategy of your app until you properly evaluate your tasks and set your designing teams goals. Proper assessment is always important despite of the size of the project. Whether you are given a design brief, a technical summary or just pointers that’s yet to be discussed over email – you need to properly evaluate your tasks before working on it. And, for proper evaluation you need to:

1.  Understand the details like – What is the purpose of your app? What its business goal is – Is it providing any extra revenue channels, for brand identify or simply a mobile version of one’s web product?

2. Analyze your audience – through in-depth analysis of the product’s audience, you can save a lot of errors as well as boost your chances of engaging your audience.

3. Compose use cases – It will let you explore the correct way of the usage of your apps, which in turn, will uncover a myriad of essential things, which will help you design an exceptional application in the future.

By proper evaluation of your app, you can come up with the goals for the design team, so that they can focus their efforts on the requirements.

2. Explore interface mechanics

It’s always recommended to consider each and every factor that may help you in making your app successful and help you meet the needs of your end-users more effectively. Let’s take a look at some crucial factors:

1. Look at popular designing networks like Instagram, Pinterest, Scoutzie, Dribbble, and Behance – these sites will help you compare products and come up with some efficient outcomes.
2. Stay updated on design related articles and concepts – Popular design tech blogs often share updated information about new mobile concepts and interesting thoughts of the industry experts.
3. Explore other devices and platforms – Even if you only work in iOS, it’s better to take advantage of the distinct features of other platforms as well like Android, Windows, Blackberry or even MeeGo.

Frequent analysis and search will let you come up with interesting mechanics, which could help in designing and development process and meet the requirements.

3. a) Proper Analysis to understand your end-users and competitors

Competitive analysis is a critical part of your designing plan. With this evaluation, you can establish what makes your design unique and what your end-users want. The internet offers a great number of opportunities through:

    • Blog Content
    • App Store

And, even by giving competitive products a try, you can do a proper evaluation and learn from their mistakes. The above-mentioned resources will let you understand how you can capture market share with your enhanced app. Why not spend a few hours studying them.

3. b) Assemble your findings

Finally, you will certainly end up with a heap of blogs, articles, sites, photos, screenshots and user reviews of your competitors’ project. Now, next and most importantly combine all your findings and research to figure out how you could use the most effective and demanding mechanics and interfaces, ideas and concepts.  While doing this, don’t forget to pay attention on the users reviews and feedbacks on the similar Don’t just design your interface because it “looks cool” to you. Don’t forget, your end users are going to use your app, not you. While developing your app spend time to compare if your designs – comply with the platform’s guidelines or not, meeting the business objectives and fulfilling many other minor specifics. Your goal should be to make the most captivating and well-functioning product ever known and all your targeted users should be able to use it to its full potential.

4. Make it for your Users, Not for Yourself

Don’t just design your interface because it “looks cool” to you.  Don’t forget, your end users are going to use your app, not you. While developing your app spend time to compare if your designs – comply with the platform’s guidelines or not, meeting the business objectives and fulfilling many other minor specifics. Your goal should be to make the most captivating and well-functioning product ever known and all your targeted users should be able to use it to its full potential.

5. Conduct Iterative Testing of the Prototype and the product

To maximize the user experience, it’s essential to test your prototypes and product.  It’s always recommended to spend more time and resources for testing. For proper and effective testing you can begin with the rough mock-up and ensure that all stakeholders approve of the basic approach to the app’s design. And, to identify bugs and for navigational and other problems allow end-user tests of the prototype on the actual device.
The creative professionals at Parangat have in-depth knowledge and years of experience in designing intuitive and easy-to-use apps. Our highly proficient team of UI/UX designers have built apps for all the major mobile platforms including Android, iOS, Windows, and BlackBerry etc. and has helped our clients by advising them — what’s the best approach to make their project successful and how to maximize profit.

Conclusion:

For more information on our team and our work, or if you want to get an app developed for your business, contact us.