In-app purchases can be a great way to monetize your mobile app and make it more profitable. By understanding how in-app purchases work, you can leverage this revenue stream to help boost app revenue and engagement. Let's dive in together and explore the opportunities of in-app purchases!

Understand the Benefits of In-App Purchases.

In-app purchases are an excellent way to monetize a mobile application. Not only do in-app purchases provide a revenue stream, but they also offer benefits such as increasing user engagement and providing an incentive for users to discover new features. It's important to understand the advantages of in-app purchases before you consider integrating them into your app.

Plan Your In-App Purchases Strategy.

Before you can begin monetizing your mobile application with in-app purchases, you need to plan and implement an effective strategy. An effective strategy should consider the app’s user experience and include considerations such as pricing points, product offering, purchase logic and more. Evaluate your monetization options carefully and test different variations before making any big changes.

Increasing user engagement can also be a great way to increase conversions and purchases. Make sure your app offers rewards, achievements and other interactive features that will encourage users to keep coming back. You can also incorporate surveys or polls into the app, where you can offer discounts on products in exchange for feedback. This way, you can gain valuable insights directly from your users while providing them with a sense of engagement and reward.

Optimize UX and Personalization of Purchases.

The user experience of your in-app purchases should be as smooth as possible. Make sure all of the pages and flows are intuitive, so users don't get lost or confused throughout their purchase journey. You can also use personalization techniques like offering personalized recommendations or discounts for certain products based on user preferences or past purchases. Creating engaging experiences tailored to the individual goes a long way towards encouraging customers to complete their purchase!

Utilize Analytics to Track ROI and Improve Results.

Data and analytics are essential to track the success of in-app purchases. Utilizing analytics will give you insights into how your users are interacting with products, how they’re converting into sales, and which items drive the highest ROI. This can be as simple as tracking user engagement through product details pages or checkout flow heat maps. You can also use advanced analytics tools to gain a better understanding of purchase behavior or customer sentiment, allowing you to optimize sales and upgrade user experiences for the best possible results.

In-app subscriptions using Glassfy and Moxly

Glassfy's Tools enable you to easily build and manage in-app purchases, create paywalls, and trigger monetization events from user behaviors maximizing revenue from apps. Glassfy makes managing in-app purchases and subscriptions a lot simpler by providing a wrapper around Apple's StoreKit and Google Play Billing services.

Moxly enables you to integrate subscriptions, create new paywalls, and testing different offering by yourself, in minutes.

What are In-App Purchases

The in-app purchases also known as IAP allows the developers to charge the user a particular amount for accessing a specific content or functionality as an extra feature while using the application.

Types of In-App Purchases

There are four types of In-App Purchases (IAP) which are described in the following:

#1 Consumable IAP

This is the type of IAP where the user will need to buy preferred items every single time if they want to use them. So, basically, you can not use these items for free in the future without paying for them.

The user may also lose the access to these items if the app is reinstalled or their smartphone is changed. Some examples of the consumable type are purchasing hints and collecting game currencies.

#2 Auto Renewing Subscription IAP

In auto-renewal subscription type of in-app purchases, the user can make a purchase of an item for a limited period of time. And once that limited time period is over then the subscription for that item will be renewed automatically.

Few examples of the auto-renewing subscriptions type are magazine subscriptions like Vogue and on-going services like Netflix etc.

#3 Non-Consumable IAP

In the non-consumable type of IAP, the user has to only pay for an item once and then that item is free to be used in the future. Even if the app is reinstalled or the device has been changed, the item will still be accessible and will not lose its data.

Few examples that fall into the category of non-consumable IAP type are a PRO version app upgrade, removal of advertisements from the app.

#4 Non-Renewing Subscription IAP

The last type of IAP is the non-renewing subscription in which the end-user is able to use the item for a fixed period of time and after that time period is passed that item needs to be purchased again for using it.

The best example of a non-renewing subscription is a membership period or a sports session pass for 6 months access.

Tips for app monetization with subscriptions

The In-App Purchases are a great way to earn some money in contrary to just simply sell your application to someone else. This is because there are a number of people who are willing to spend their bucks in exchange for extra features and content in an application that they love to use.
You can also display various advertisements on your iOS application with an additional option to 'Remove Ads' for a small amount of money like $3 to $5.
If you want you can also offer your iOS app as free and if your target audience like the free version of your app then they would be willing to try on the paid version of your app as well...even if it would cost them money.
Instead of creating an entirely new and separate app for the paid services, you can just add the in-app purchases options for your already existing application. This way you can release your app's new functionalities as well.

How to create an app with in-app purchases and subscriptions in Moxly

Register in Glassfy.io , create a project for your application and get your ApiKey.
Add the resulting ApiKey to Moxly
Set up your subscriptions in Google Play and AppStore
Add products to Glassfy.io and connect your subscriptions from googleplay and appstore to them
Create offers by connecting products to them. Product and offer IDs must match.
Go to Moxly and add these subscriptions to it. IDs must match!
Make settings for connecting Google Play and AppStore to Glassfy.

You can find detailed setup instructions on the Glassfy Documents - make sure everything is done correctly:
https://docs.glassfy.io/docs/app-store-configuration
https://docs.glassfy.io/docs/play-store-configuration

Additionally - see this screnshots: