Making money online is easiest with in-app purchases. These are proven ways to monetize apps and have been successful for years.

In-app purchases offer many benefits. Mobile shopping is a popular way to shop – in 2019, 44.6% of Black Friday online purchases were made via mobile devices. Each year, mobile purchases rise.

They are also 24% more likely to make in-app purchases when making those purchases. A large portion of this profit is paid directly to the app developer.

However, if no one is making use of your in-app purchase, it will not change. There are a few strategies that you can use to increase your in-app purchase and to make your plan for 2021 to monetize the app.

1. Get Your Users Hooked

Although in-app purchases can be very lucrative, they will not work if the users aren’t already addicted to your app.

Your app should not be flooded with in-app purchase requests as soon as it is turned on. Allow them to play with it, and let them have fun with the details until they feel they can’t live without you.

Your strategies to monetize your app will be more successful if they are passionate about your app and see value in in-app purchases.

2. Promote Your In-App Purchases

Promoting an app is essential if you want to make it a success. It’s common sense: if people don’t know that you have something for sale, they won’t be able to purchase it.

It’s easy to use the iPhone App Store. Your App Store product page can be used to promote up to 20 in-app purchase options. This allows people to see how your app can improve their experience while still charging a fair price.

You can bundle it all with a discount price, and people will begin to value your in-app purchase as a true value. This will help you make your app more profitable.

3. Avoid Clickbait

Be honest when promoting in-app purchases. Clickbait is a misleading online advertisement that promises one thing but then delivers another. It can damage the relationship and trust you have with customers.

They might get a few clicks but not enough to convert them into active sales.

App users who trust brands and have positive experiences are more likely to purchase in-app products. Your customers will be more open to your plans to monetize the app if you are honest and authentic with your promotions. They will be eager to assist you.

4. Use “Irrational” Pricing Strategies

Advertise in-app purchases to customers and you will see a remarkable increase in sales.

The Economist experimented to determine the price points of both digital and printed versions of their paper. A web subscription costs $59; a printed subscription costs $125; both can be purchased for the same $125.

As expected, no one paid $125 for the print subscription. But, it was surprising that this “irrational” decision drove up their sales.

People who purchased the subscription by web and print thought they were smarter than others for noting the absurd price point. This resulted in a significant increase in sales.

5. Push Notifications

The mobile cart abandonment rate is 80% Most online shoppers who make in-app purchases get distracted and abandon them.

You can send push notifications to customers to get them to close the sale. You must send a push notification to customers who have abandoned in-app purchases. This will include details about the items they are going to purchase to get them back in.

Push notifications can lead to an average increase of 14% in in-app sales. This will make it easier to plan to monetize the app and gain more money.

You can make in-app purchases a great way of monetizing your online business, but you need to be careful how you do it. 

You won’t make any money if you try to break your user’s trust or push in-app purchases to the side. Your online business will start to see a real profit if it builds brand loyalty and uses strategies like these.