1. Enrol users into the community:
Building a large user base is the first step to attracting finance. By incentivizing your users to sign up, you can not only analyse each user’s activity but also push the right promotions to the right audience which increases the chances for sales.
2. Initial services offered for free:
This is the strategy to implement to attract users through premium services which can be offered for free for a short initial period. Once this subscription period gets over, charging users is a good source of money going forward as you can now expect the users to purchase your service if deemed worthy by them.
3. Reward users to browse ads:
These rewards can be membership points or any other loyalty points, which can help in gathering eyeballs for your advertisers and in turn help you mint money.
4. Payment options:
Having multiple interfaces and payment options, not only keeps you less dependent on one vendor but also gives you promotions to incentivize for the customers to choose one over the other for in-app purchasing options.
5. Use free versions to display Ads:
By displaying ads only on free apps, you not only reach a larger user base but also provide customers to upgrade to a premium paid version.
6. SMS Blast:
SMS message notification can include ads for your apps. Historical data also shows that SMS indeed grabs more attention than mere app ads.
If you have another company with a similar target base, whose partnership can help both of you garner more eyeballs, then go for it. You can use referral fee here to monetize through app advertising.
These could be the initial source of income for your app through advertising and banner ads for gathering attention for your sponsors.
9. Data analytics to know customer purchases:
Good use of app analytics helps you track history of customer purchases, thus, giving you an insight in knowing what exactly to suggest the customer for future purchases.
Ad-mediation technique lets you be updated on the ads being shown so that on the carousel, the next important ad is always ready to flash before your user.