How to earn money from your mobile app?
7 minute(s) read
Aug 07, 2020
Here are a few top ways of
making money from your app.
There are various ways to
earn money from your mobile app
that you should search for and explore. There is no perfect
way or method for earning money from your app
, and what will ideally work for you is completely dependent on the quality of your products and services which you are providing. A few of the earning ways require you to charge money from your customers.
When you build a mobile app by yourself, it is vital to understand what the best-suited way will be you should use to monetize your app and generate huge revenue
1. In-App Advertising
This is the most popular and easiest way
to make money from your app
. In this way, you just need to show advertisements on your app, and in return, you get money according to the number of clicks on the advertisement.
When you let the people put video advertisements on your app, you will get more paid as compared to the banner ad.
But you have to take one in consideration of whether your customer has had the patience to watch video ads whenever they open your app or not.
However, there is also an interesting way to earn money , which is by not showing any ads on your app.
Yes, many platforms are doing this by offering their customers an ad-free version of the mobile app which they can buy.
2. In-App Purchases
This way works by allowing customers to unlock different levels or some features by buying an upgrade.
An app owner can offer non-consumables like maps and advanced levels or consumables like the coin and other virtual currency.
Almost 50 percent of the most popular mobile apps use in-app purchases for making money.
This way works on a subscription model, which is very effective and quite fair for both the app user and the developer.
Here, the app owner offers his customers access to the content without any charges. Once the user gains interest and begins to enjoy his mobile app, they will have to buy the upgraded version through a paid subscription, which will give them complete access to the app content.
Some owners use another similar model in which the owner offers the user a free trial to enjoy the unlimited access to the app content. Still, it is for a limited period of time. Once that period expires, the user gets blocked, and he would have to purchase the subscription in order to get complete access to the app content.
Sponsorship is another effective strategy that you can use
to earn money from your app
. It works when if the app owner able to find the sponsors with the same or similar target audience.
Once the owner found the relevant or right sponsor, you will design adapt an app design that matches the sponsor company or brand.
There are two ways in which you can get your deal done:
- Monthly sponsorship fee
- A revenue split
In this strategy, the app developer would benefit from existing brand loyalty or web traffic that the sponsor company has to offer. This actually helps the app owner to promote his website.