6+1 efficient ways to make money from your radio app
Tuesday, 24 December 2019
Your radio app is live and your listeners are already swarming to the app stores to download it!
And now the million-dollar question!
How can you make money from it?
Making money is a long and complex process, but you don’t have to strive for it all by yourself.
Fact: Users spend 4 to 5 hours per day on their phones by scrolling through their news feeds, chatting on messengers, playing games or posting on social media.
How should I start?
- Step 1: Decide the app’s purpose and the audience you want to target. In other words, define who is your ideal listener, where does he live and what is he interested in!
- Step 2: Pick the platform(s) you want to publish your app(s). iOS, Android, or both? The more the platforms the more the profits.
- Step 3: Once you decide on the platform to start with, publish it to other platforms as well.
Did you know?
Even though most users download apps from Google Play Store, mostly for free, App Store users are more likely to pay and install an app.
How can I gain money from my app?
The answer to this question can be either simple or complex. Looksomething will help you succeed by providing different monetization tactics through your radio mobile app.
Use in-app advertising
You may have seen ads while you use an app. Usually, those ads are served via one of the most popular monetization platforms for mobile apps, Google AdMob. Signing up will allow you to place ads into your app and start earning money.
The real strength of those ads is relevance. They are dynamic ads, meaning they are served to app users based on their activity – the websites they have visited, their installed apps, their interests etc.
Money-making tip: One of the most profitable ads for radio apps is the interstitial or splash ad. It appears for some seconds as soon as the app launches.
What types of in-app ads do we support?
- The first supported AdMob type of our radio apps is the banner ad. It is an image that appears at the bottom of the screen for as long as the app is in function.
- The second one is the interstitial ad (or splash), which is displayed in full-screen once the app launches.
Sell in-app ad space
If you are not a fan of randomly generated ads inside your radio app, you can always sell ad space to third-parties. In Looksomething’s Enterprise & Network plans, you can add your own images in order to promote events, products, or services from your sponsors and to attract the attention of your users.
A general rule of thumb is to always stay consistent & relevant. You need to serve ads that match your listeners’ interests.
Two of the most important metrics you need to monitor are the following:
- Click-through rate
CTR is the number of users who clicked on a specific ad to the number of users who viewed the screen where the ad was placed. Usually, it defines the quality of your ads. and can be used to identify ads that are either underperforming or overperforming.
The number of impressions of a specific advertisement is the number of times the particular ad has been viewed by users.
Tip: Both metrics (along with some extra ones) can be accessed through the control panel you will get, in case you get a mobile app from Looksomething!
There is always the option to offer your radio app for a one-time fee.
If you have just thrown your radio app into the app arena and your radio station is not well-known, we’d recommend offering your app for free.
As time progresses and you gain more listeners and visibility you should consider offering your radio app for a cost.
Tip: Apple users are most likely to pay for an app than Android users. Therefore, Apple App Store is a good start to begin.
Selling radio airtime
First and foremost, in order to go through this one, you should already have a huge listener base and a loyal audience.
How does it work?
You are getting paid for mentioning third-party products or services, during a show. What’s more, you can also sell airtime, and play on-air audio ads. It’s vital that you have a deep knowledge of your listeners – who they are, where they are, what do they like to do.
Tip: Usually, companies would sponsor radio shows with a relevant audience. Most radio stations have prepared a media-kit with basic statistics like the number of app downloads, listeners, demographics etc.
News travel fast but push notifications travel faster!
Push notifications are messages that pop up on mobile devices and urge users to act (open the mobile app, read an announcement, visit a website etc.). They can be created and sent instantly, or set to be sent periodically.
How can you use them?
You can inform your radio app users about live events in-town (for whom you have already been paid, of course), flash sales, competitions and product offerings.
A mobile push notification strategy is essential for automating and growing your business revenue.
People donate money of goodwill and generosity to support a cause. There are many radio stations out there that do so successfully.
Mostly used by educational or religious apps, it is a good way to get that little extra as a reward for your outstanding contributions to the community.
Pro tip: Most times, if you include a payment link inside the app, the application stores will charge a fee.
Become a reseller
Are you a radio station owner or a radio professional with numerous connections in the industry?
Well, what about trying to establish your own radio business?
With Looksomething.com white-label reseller program you can start making use of all those years in the radio industry. White-label means that all the apps & websites we develop are under your brand with Looksomething appearing nowhere.
There are 3 easy steps to sell a radio app or website:
- Get the appropriate plan for your client
- Provide us with the required material
- Receive an email with the control panel and the published apps
Tip: Our reseller plan gives you the ability to sell all our mobile & web solutions and entitles you to a 25% discount.
We really hoped this guide provided you with some ideas you can start implementing today to gain some profit from your radio apps. After all, all that hard work to start your radio station and get it successfully to the digital era needs to be rewarded!
But no shoe fits all! You need to carefully pick the best monetization method for your own business!
Looking for more money-making tips?