How do free apps make money for me?
There are several ways to earn money, including app monetization strategies. Different people use free apps to do this, which we will discuss in more detail below.
 | 3 minute(s) read | Published on: May 23, 2020 Updated on: Dec 14, 2021 |
Have you ever noticed how free apps make money? Let me help you to figure it out. In routine, we visit Play Store, download an app, and start using it. Developers who offer free apps are also making money. Yes! It is true. There are a lot of methods for making money with these free apps. If you are thinking of creating your app and publishing it on the Play store and you want to earn money from the app, then you have landed in the right place.
In this article, we will discuss in detail how free apps make money, what are the best app monetization methods or strategies. Here are some of the top app monetization strategies, which will clear all your doubts.
Ad Revenue
CPM is ideal amongst the free app creators as it doesn't require the users to click on the ad for the application developers to earn money. The pay is less, but it's less disturbing to the user experience.
First and foremost, most developers use Ad Revenue as one of the most popular methods. The majority of app developers use this method to survive in the marketplace. One of the popular ad-network for mobile apps is ad-mob. Ad-mob is a product of Google, so you do not have to worry about anything.
There are three types of ad revenue:
- (CPM) Cost per Thousand Impression
- (CPA) Cost per Action
- (CPC) Cost per Click
Subscriptions
Subscription is also one of the app monetization strategies. Mobile App Developers offer some of the free content or some premium features in their apps for a limited time. You can take it as a trail. The time duration of this trial version depends on the developer's mindset. Maybe your free trial limit will be a week or a month, and after that, you have to take their subscription. And then, you will enjoy the fully-featured app without any restrictions.
In-App Purchases
In-app purchase is also one of the best sources of ad revenue in the app industry. The in-app purchase covers up about 47% of the total profits generated from the apps around the world. If you are thinking of developing a free application, we recommend you go for an In-App purchase.
For example, in multiplayer apps like PUBG, COD, players are always interested in purchasing some of the paid assets, so they gain the upper hand over their opponents. This is an easy way to multiply your earning.
Upgrade to Remove Ads
Most people do not like these pop-ups or banner ads in their apps. So, you can also take advantage of this. They will be happier to remove these ads for a lifetime. Many app developers build two versions of the same app. One is ad-free, and the other includes ads. So, you can also go for that.
Bottom Line
Every App monetization model has its benefits and drawbacks. However, selecting the right monetization model is suitable for your business. Analyzing your competitor's ways and tactics also helps you generate a massive profit from your apps. If you still have any queries feel free to contact us.
