How to earn money from your mobile app?
3 minute(s) read
Published on: Aug 02, 2020
Updated on: Dec 14, 2021
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 the products and services you are providing. A few earning ways require you to charge money from your customers.
When you build a mobile app by yourself, it is vital to understand the best-suited way will use to monetize your app and generate huge revenue
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 into 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.
This way works by allowing customers to unlock different levels or features by buying an upgrade.
An app owner can offer non-consumables like maps and advanced levels or consumables like coins 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 fair for both the app user and the developer.
Here, the app owner offers his customers access to the content without 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 unlimited access to the app content. Still, it is for a limited period. Once that period expires, the user gets blocked, and he would have to purchase the subscription 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 if the app owner can find the sponsors with the same or similar target audience.
. Once the owner finds the relevant or right sponsor, you will 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 helps the app owner to promote his website.