How to Monetize Telemedicine Apps

App monetization is probably one of the most important things we can talk about when it comes to telemedicine app development. App owners look into different revenue streams to find their perfect model. But the tricky thing about choosing the right monetization strategy is that there isn’t a one-size-fits-all solution, especially in the healthcare niche. What works for others may not work for you.

No worries! We’ve prepared a guide that breaks down app monetization strategies by looking at some of the most popular names on the telemedicine market. Grab a cup of coffee and enjoy!

Top telemedicine app monetization models

How can you monetize your telemedicine app? Before we answer that question, let’s paint a general picture of app monetization models.

Broadly speaking, there are three app monetization models: free, freemium, and premium:

• Free apps are either purely ad supported or are directly connected to a larger brand, in which case the app is generally for promoting a service or product.
• Freemium apps are free to download but might include in-app purchases, ads, subscriptions, and/or donation requests.
• Premium apps need to be bought before installing them. This category includes paid apps, apps that require subscriptions, and hybrid paid apps with in-app purchases.

SOURCE: STEELKIWI.COM

Now let’s dive deeper into these three approaches!

Free apps

People love freebies. It’s no wonder users are more likely to download free apps than paid apps. But how do free apps make money? If you have a business that’s driven by your app (like eBay or Netflix), you don’t need to generate revenue directly from the app itself. But if your app is your business, you can still give it away for free and place ads inside it to make money. Every time a user sees an ad or clicks on an ad, you’ll get paid. In-app advertising is among the greatest and most beloved monetization strategies since it allows your app to remain free while you scale your user base and make money.

According to Statista, 92.7 percent of all iOS apps and 96.7 percent of all Android apps were available for free in January 2021. Only 7.3 percent of iOS apps and 3.3 percent of Android apps were paid. Though these numbers don’t directly represent the healthcare market, they’re a good indicator of app monetization trends when it comes to free versus paid apps.

Freemium

Freemium is another great model for making money in telemedicine apps. This model creates two classes of users: free users and paid users. Free and paid users have access to different services, functionality, and/or content. Obviously, there are limitations for free users. What businesses are hoping is that these free users become paid users.

App monetization is probably one of the most important things we can talk about when it comes to telemedicine app development. App owners look into different revenue streams to find their perfect model. But the tricky thing about choosing the right monetization strategy is that there isn’t a one-size-fits-all solution, especially in the healthcare niche. What works for others may not work for you.No worries! As a telemedicine app development company we’ve prepared a guide that breaks down app monetization strategies by looking at some of the most popular names on the telemedicine market. Grab a cup of coffee and enjoy!

Full-cycle Web & Mobile applications development https://steelkiwi.com/blog/flutter-vs-react-native-vs-xamarin-for-cross-platform-development/