Software can be a powerful product to promote for your business. Whether software development is the primary focus for your business or an ancillary product that provides additional value for your customers, it can create a strong revenue stream to help you grow your business.
However, selling software isn’t the only option for making money on it. Just as you can monetize your website, you can also monetize your software to generate some strong passive income. Your success depends on the monetization options you choose and how well you employ them. Here are a few software monetization solutions you could be using for your business:
The speed of your software’s download is essential to its success. If the software takes too long to download, customers will abandon it, and you will lose a sale. One way that you can ensure the process is a little faster and easier for your customers is using a smart installer. This technology helps guide the installation and speeds it up.
A smart installer is also one of the top software monetization solutions. It displays offers to customers while they are downloading your software.
Advertisers may pay you just to show these ads, or they may pay you based on the clicks that the ads get. It doesn’t really matter which option you choose. What matters the most is selecting offers that are relevant and useful to your customers. The more useful they are, the more likely that your customers will click through on the ad. High conversion rates will inspire confidence in advertisers and will generate more income for your company.
One of the offers that you may show customers during the installation process is for a browser extension. These tools are displayed just under the current web address that a person is looking at, and they provide additional functionality like quick bookmarking or monitoring data. They are useful tools that can enhance the browsing experience for your customers.
You can make money from browser extensions by showing ads with them. The extension can include display ads, text ads or pop-up ads, depending on its design. Just like with the smart installer, showing relevant ads is key to their success. You can increase the exposure for your browser extension – and make more money – by promoting it in your smart installer for your software.
You can get more exposure for your software and monetize it by creating a partnership with another business and offering a bundle deal. With a bundle deal, you offer your software with another software package (or several), and you offer a lower price or some other incentive for downloading them together.
You make money by charging the other business for the opportunity or by earning a commission for each sale. You must select a partner software package that enhances your own and adds value for your customers.
The key to success with bundle deals is having enough clout to make other businesses want to partner with you. You should already have a large customer base and a strong marketing plan in place to be as attractive as possible to partner businesses.
You’ve probably already seen search feeds on websites. These little tools make it easy to search without having to leave the site you’re on. In addition, they offer website owners monetization opportunities since these owners earn a commission each time someone conducts a search in the feed.
You can use the same strategy for your software. You offer your customers additional value by allowing them search capability without having to leave the software, and you’ll make money at the same time. It’s a win-win situation for your customers and your business. You can also customize most search feeds so they look like they are organic to your software.
Advertising is perhaps the most common way to monetize any online or digital property. You can add advertising to your software in several ways.
You can include display ads, text ads, pop-up ads, start-up ads and more. The key is to ensure that these ads seem organic to the experience and do not distract from the software. If they do, they can be intrusive and cause customers to form negative impressions of the software.
When you are ready to start making passive income with your software, you should consider a wide variety of software monetization solutions. The more solutions you employ, the more revenue potential you have. Employ solutions that enhance one another while also offering additional value to your customers.
With the right choices and the right marketing, you could even generate even more money from your advertising than you do from the software. Make the right choices, and you could have passive income coming in for years.