Believe it or not, every app owner attempts to monetize their application in a specific way. Setting app monetization parameters and generating revenue are two different aspects.
You may have chalked out app monetization strategies to generate revenue, but whether it will succeed depends on various factors, including your App Store Optimization (ASO) strategies.
If you are a beginner, you might not know that appearing among the top app store search results can skyrocket your monetization campaign. Yes, you’ve read it correctly! Most app owners aim to appear higher on the app store search results page before expecting their monetization efforts to work out. But how can you make your app rank higher on the app store results pages?
It’s simple! It would help if you implemented the proper App Store Optimization (ASO) strategies. ASO can help you achieve your monetization or revenue goals without complexities. Let’s find out how!!
An Overview of App Store Optimization (ASO)
App store optimization is the continuing process of enhancing an app’s information on the page. These efforts will boost and improve its position in App Store and Google Play search results.
Like search engine optimization (SEO), this entails focusing on and improving the elements that the app store’s algorithm considers, such as ASO keywords and graphics. When determining where apps should rank, the algorithm also takes into user-dependent account factors. For example: Having great reviews of the app and the volume of downloads.
Overall, app store optimization is the best strategy for enhancing an app’s organic search results with minimal investments. Besides, it has subsequent effects on app monetization and revenue generation.
How does ASO help with app monetization?
Here is how ASO can help skyrocket your app monetization strategies:
• Gain Visibility
Your application can get higher ranks on a specific app store results page through an App Store Optimization approach. Once it reaches the top five ranks on the app store, you can ensure that your monetization efforts will significantly improve, generating massive revenues.
Do you know? The #1 application, Apple’s App Store can get over 156,000 downloads. You can imagine the traffic these apps generate and the subsequent revenue conversion.
Having higher app store rankings is essential to get more downloads and eventually boost your app monetization strategies. When your application starts gaining higher visibility, you can easily outperform your competitors and get more downloads.
ASO significantly helps in improving the discoverability of your app and makes it easier for potential users to find it.
“Targeted” is the operative term here. Displaying your app to viewers who have no intentions of using your product has no use.
Consequently, there are more chances of dwindling app monetization strategies. For example, suppose you have a grammar-checking application with a specific monetization strategy.
If you cannot appear before the relevant audience, who are ready to upgrade to the premium version of your app, what’s the point of app monetization?
That’s when ASO can help target the right users and eventually offer you, as an app publisher, a better retention rate on your DAU/ MAU.
With improved DAU and MAU, you can further enhance your app’s monetization strategy, which would have been tough to achieve without ASO. Moreover, with a higher DAU and MAU, your app gains a higher authority in the app category which automatically leads to better rankings and more downloads.
• Higher downloads
We have already revealed that App Store Optimization benefits can help you get more visibility by giving your app higher ranks and harnessing the relevant audiences.
Once you get more downloads, the roadblocks get eliminated, and your monetization efforts become mainstream. Eventually, you can earn more by rolling your optimized application on various app stores.
Consider that you have leveraged a monetization strategy in your app, where users can upgrade to the premium version to unlock special features.
Eventually, more downloads increase your chances of users upgrading to premium versions and contributing to your annual revenue growth.
App store users prefer applications displayed at the top of a results page. Since they find them more reliable, you can expect more downloads and monetization volumes for such applications.
App Store Optimization can give you all these benefits. Through a successful ASO campaign, you can achieve higher app store rankings, more visibility, and voluminous app downloads. Consequently, it builds brand credibility. Thus, your monetization outcomes can improve tremendously.
The app’s credibility also improves the trustworthiness of your brand because it is appearing more often in the app store. The more credible your brand, the easier it becomes to monetize it.
Moreover, enhanced credibility is similar to having a good reputation in the market; it opens up more opportunities for business collaboration, better deals, and improved monetization.
• Lower Investments
App Store Monetization is one of the most inexpensive marketing game plans. If you know the strategies, you can easily leverage the technique to achieve tremendous ASO success.
App store search engine optimization is the most affordable among all marketing media. So, you are expected to make minimal investments when doing ASO correctly.
Moreover, the returns on investment (ROI) are significantly higher when you compare it with other marketing channels. For instance, you need to spend $100,000 on a television commercial that will appear for 30 seconds. In contrast, you can get the same number of app downloads by spending $5,000 on an ASO campaign.
Let’s confess that app improvements are expensive. You might require a massive budget to transform your MVP into a full-fledged application. You wouldn’t want to invest from your pockets every time you wish to upgrade your app. Would you?
In such situations, most app owners rely on revenues generated from the application to improve the product over time. So, the more the revenue, the more the scope of improvements in your app.
As you offer a better experience through your application, you can expect more users to embrace your monetization scheme. So you can generate higher revenues over time.
Having an App Store Optimization approach can improve downloads, generate more revenue, use the income to roll out better app versions, and enjoy increased ROI.
Through various features like higher app store rankings, more downloads, higher visibility, relevant audience tracking, and more – ASO can make your mobile application a brand! But doing it yourself along with the various other activities for app growth can be challenging.
Get in touch with AppBroda as we help you streamline your monetization tactics and optimum harness revenues in a short span through effective ASO methods.