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10 Chat App Monetization Strategies to Generate Revenue For Your Business

“The Global market value of mobile messaging apps is projected to hit 6.1 billion active users by 2020”

The messaging applications have been making headlines across the market by generating 2% of the entire mobile messaging market revenue at about $3 billion.

In this messenger era, messaging apps are trying to compete with other applications due to its demand in the personal and business collaborations.

Over the years, a huge number of articles were written in finding the best strategy for chat app monetization. we were urged with hopes for discovering an extraordinary monetization model to generate revenue with your chat app.

For all the unanswered questions, here comes the solution that would generate substantial revenue.

Mirrorfly, a real-time chat solution provider in the market offering sublime chat monetization ways that connect with users and monetize your chat app in different ways.

The chat solution assists enterprises and individuals to build chat apps for businesses to generate revenue through a diverse set of monetization models.

Now, it’s time to take an insightful look at different chat app monetization ways that Mirrorfly provides to tower your business growth.

In-chat Payment

Instant In-chat Pay

One of the ideal feature where the user can make payments without leaving the chat interface. Integration with top payment gateways, the user can either send or receive money just like sharing of contacts and Multimedia.

In app Payment

In-app Payment

A typical payment method where the users can make payment within the chat application. With the in-app payment feature, accept or pay bills from the chat app to any third-party websites under a multi-layered secure environment.

Chat Bot

Chatbot Integration

Through chatbot integration, reap revenue with your chat application by simplifying the process of providing recommendation and enhancing conversions or Click Through Rate (CTR).

In app purchase

In-app Purchase

In-app purchase will enable users to buy any specific feature within the chat application or the entire chat app from Play store based on the users’ demand. The in-app purchase lets users access special content within the chat app. The feature also facilitate app owner in generating a share of the particular feature utilized by the users.

In app AD

In-chat Advertisement

The In-chat ad lets stream ads on the status bar of the chat application just similar to stories. Considered as one of the most advanced monetization models assist businesses to reach the consumer in a more direct way which increases the conversion rate by 150% than the conventional.

Payper download

Pay-per Download

Generate revenue based on the number of apps downloaded by the users in the play store or App store. Once the number of App downloads increases in the app store, the value of your chat application magnifies which in result create an extra opportunity for revenue generation.

Sponsorship

Sponsorship

An ideal method for businesses to generate revenue through in-app sponsorship opportunities by letting users register on newsletter or emails. This helps to create brand awareness among the end-users.

Subscribe

Subscription

Another smart way to monetize chat app, Letting users subscribe to the chat application or any specific service based on early tenure, monthly or user demand days.

Content Merchandise

Content Merchandising

It refers to creating themes, wallpapers and other features of the chat application that relates to any brand. Through merchandising, the popularity of the particular brand is exposed among the users which result in revenue generating opportunities.

Official Accounts

Official Accounts

Creating official chat application for Brands and Celebrities to collaborate and engage a huge amount of fan base. Embedding of some additional features will add credibility and enhance the user experience of the chat application. This in result helps brands in establishing a good relationship with the users.

White label

White Labelling

This assist enterprises and individuals to build their own chat app for businesses to collaborate based on their client requirements. An enterprise can rebrand the standalone chat application with customizable features that meet the demands.

Conclusion:

Once chat app began as a seamless integration of chat functionality for instant collaboration has now bloomed into a wallet of treasure for businesses. There are several chat app providers in the market but not everyone will relate to your business ideas. Every business demands an ideal monetization strategy. Understanding the key business idea and your targeted audience will bring you more opportunities in turning your chat application into money reaping treasure.

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