The ROI is based on the business model it is utilized on
The expression of mobile apps is progressing continuously. Hence it is of vital importance to be transparent about the various existing business prototypes, which helps in developing and advance a business plan which is apt for the client’s technological component. It is important to know the business type being imbued into the plan as it is proportional to the advertising plan. Additionally depending on the venture made, the ROI changes being a small term or long term.
At present business can be categorized into two groups. One defines the models which need financial spending in advance to get authorization to the download. But this group is crumbling as it creates unsatisfactory actions with respect to the positioning. This is because mobile apps can’t be tested until they are bought. This indicates that hopes will be higher than expected. Coming to the other group, there are applications which are entirely free, although there are some transactions that provide authorization to additional features or appliances of the game.
12 prototypes for mobile applications
Below listed are the various business prototypes available in the mobile app market.
Brand: This is the prototype that is used on a large scale by companies. The main reason is to get a reputed profit for example, refining the brand image. Hence, the app’s access and utilization are entirely free.
Service part: Many brands prefer this prototype first. It is utilized for an application as a chunk of a more understandable service that needs boosting and aids the users. This could be free and choice related, resulting in big income for the brand.
Marketing: The installation and utilization of the app are entirely free, yet the return on investment is got back by initiating ads within the application.
In-app Purchases: This method is utilized as an amalgamation with a cost-free download of the application, further accumulating the choice to buy particular features, digital goods, deactivate advertising, digital information etc. By giving such connected services, ROI can be got back. This prototype is frequently used in gaming applications.
Information: This model is observed in in mobile apps that gather user info. Customers get free rewards/prices when providing their information as it can be sold to companies which are doing analysis.
E-commerce: These transactions are done digitally on the Internet and have free access.
Hearings: All customers have access to this application model. Its only intention is to construct a big user base which will later be used for some other purposes. Facebook is a good example of this model.
Affiliation: This method is free for download and the benefit is that commission is got depending on the sale.
Subscriptions: Installing this sector of apps depends upon the utilized time, indicating it could be weekly, quarterly, annually etc. Based on the time the app is provided in the market only does the app’s cost changes.
Minimum price: The featured goal is to sell a lot of downloads at a minimum cost with the specified price of € 0.99. The ROI based on this could be long but, there is a possibility of not getting anything back.
High price: The risk factor for this model is high and it would be better to use this prototype when the brand has a particular target audience. The high cost of this app is proportional to the number of users. Hence the app cost is related to the audience being focused on.
No clear business model: This approach is done is when the app is designed in order to get personal fulfillment. Its objective is to appeal to the customer rather than profit making. Such apps are found in the Android market as it is the largest used OS for freshers in the programming world.
Author Bio :Pyramidions is one of the top mobile app development companies in Chennai . We have expert mobile app developers for an enterprise. We focus on Mobile App Development, Web Development, and Augmented Reality & Virtual Reality App developments using a cutting edge state of the art technology providing sophisticated and spectacular results for our customers guaranteeing what they have in mind.