3 Ways To Monetize An IoT Mobile App

IoT-based mobile apps are the next big thing in the tech world. Very soon, our smartphones, tablets, smartwatches, computers, and even headsets will be interconnected, allowing a seamless transition between all of them. Within the next few years, almost all electronic devices will be controlled by a smartphone.

Advantages of IoT App Development

There is no better time than now to invest in IoT app development and make your startup future-ready. Let us understand the competitive advantage you will get by developing an IoT-based app.

1: Integrated User Experience

Let’s say you want to develop a fitness app. With IoT, you can allow users to connect data from their fitness bands and weight scales to the app and get more personalized experiences. This will set your app apart from other apps that lack this feature.

2: More Scalability

IoT apps are highly scalable as the number of electronic devices is rising. With Apple launching the new Vision Pro in a few months, it will mark the beginning of a new era of VR headsets. IoT apps will be able to expand their boundaries to include VR gadgets as well.

3: Improved Management

Having a dedicated IoT app for your business means that you can monitor and control everything from your phone. You will be able to track everything from employee tasks to daily sales on the app.

3 Ways to Monetize an IoT Mobile App

IoT mobile apps serve as an effective way to generate revenue. Here are 3 awesome ways you can mint money with an IoT app.

1: Create Subscriptions

A subscription model is a tried and tested way of generating revenue. You can create a single or multiple subscriptions to access the app. Users will have to pay a monthly or yearly charge to use certain app features, similar to any gym membership.

For example, you can create a starter pack where users will have access to basic gym equipment. Then there will be a pro membership where users will get access to the sauna and personal training as well.

To keep things exciting, you can throw in some exclusive perks for your subscribers. Maybe they get priority customer support.

2: Data Selling

No! You are not compromising users’ privacy here. Many researchers and advertising companies need data and are willing to pay a tremendous amount for it. You can collect a lot of data from connected IoT devices and sell it to them. You are not selling any personal data, and all data collected has to be with consent.

3: Run Advertisements

The advertising model is a tried and true method of making some serious cash by turning eyeballs into dollar signs. You get access to multiple devices where you can show ads with an IoT app. Reach out to advertising companies and offer them proposals.

Just remember to respect your users’ experience and not let ads overshadow the value your app provides. Strike the right balance, captivate your audience, and let the advertising dollars roll in.

Develop an IoT App Now!

The potential of IoT app development is unimaginable in the coming years. With VR headsets becoming the norm in the coming decade, now is the best time to cash in on this opportunity, and WDI is here to guide you with just that.

Awarded as the best mobile app developers by Clutch, we can create a seamless IoT app for your startup. Allow us to serve you the best.

Contact WDI today to discuss your app idea!

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