large and small are increasingly shifting their marketing budget to mobile channels and experimenting with cutting- edge apps to capitalise on marketing and sales opportunities, according to leading information technology research and advisory company Gartner.
At this early stage, it appears that
mobile apps and mobile ads will be the primary drivers of mobile monetisation.
“Magazines can use two broad
approaches to monetising mobile apps — consumer revenue and advertising revenue,” said Eric Svenson, director of digital strategy for Rockfish Interactive, a mobile application development agency. “Paid subscriptions, freemiums, ecommerce, and lead-generation apps are classic examples of consumer revenue. Advertising revenue can be generated via in- app advertising, sponsored apps, sponsored text links and videos within apps, and product reviews and recommendations.”
Here are several innovative mobile app
monetisation tactics explored by brand magazines:
SPIN-OFF APPS: Experimenting beyond pure subscriptions and advertising revenues, magazines are creating new revenue streams with spin-offs. This tactic entails customising and repackaging archived content to suit the needs of mobile audiences.
IPC’s InStyle Best Beauty Buys 2012 acts as
a guide for readers, helping them browse through 100 award-winning products selected by industry experts and celebrity stylists. Developed in association with UK retailer John Lewis, the app is free and available on iPad, iPhone, Android and Blackberry. Select products are available to purchase from the John Lewis website via the app. Monthly updates ensure that users are informed of Best Beauty Buys
105 Men’s Fitness Cover Model Body Plan by
Dennis Publishing is an example of a spin- off. The app, costing US$2.36, offers work- out plans from the magazine’s archived articles.
BESPOKE COMMERCIAL APPS: Sponsored apps that provide bespoke
content to readers via products reviewed by experts is another popular monetisation technique being used by magazines.