How to Make Money from Mobile Apps?
A lot of people have a misconception about developing mobile applications, many think that it is a free service provided to the users and it is hard to make money from it. This is where the developers are lagging behind as there needs to be a lot of clarification on this topic.
So this blog is mainly focused on how to monetize that is how to make many from mobile apps, many think developing a mobile is a waste of money and time as there won’t be any profit or revenue collected from it. Monetizing with the help of a mobile app isn’t just limited to the tips shared below, but they are more than that. It is recommended to do some research on your own to monetize.
- Advertise On Your App
Advertising in your app is one of the best ways to generate revenue, there are many businesses out there looking for a potential platform to broadcast or to reach their services to their targeted audience. Employing these advertising services in your mobile apps will help to monetize revenue and it is one of the best and common ways used by many app owners, and this is one of the most profitable ideas too.
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This is a great strategy to be followed on to those who you offer free mobile apps. One thing to be noted here is don’t show a lot of ads in your app just because you want to make higher revenue, this will lead to losing your users of the app. Once you have reached having a good-sized user base for your app then you can go for displaying ads to them.
- Charging for App Installs
This isn’t the most optimal strategy used by many people and it has a lot of benefits for certain apps in the market, some are productivity, wellness, health, and fitness. Having a website is one of the most valuable assets to drive paid installs for the app, the hard truth is that app stores don’t provide enough space for the users and also the service providers to go for a paid app installs.
So the best option is to have a website where you can have the paid version or even the subscription plans for the users and this will ease up the load on the app. In order to make the right mobile app, hire a mobile app development company. Having all these options seems pretty cool but the problem is not many of the app providers developing an app that is robust enough to take care of all these features. Working on ASO (App Search Optimization) will help well too.
- In-app Purchases
In-app purchases are one of the other ways where the app owner can make money from the app, this is another way of getting toiled not in terms of the app development but in the terms of providing the right and alluring idea to be implemented on the app. There are a lot of apps that consists of in-app purchases it might be of service providing apps, or games or some entertainment services.
But once the app becomes enticing for the end users then there are higher chances of making them purchase some of the features or the items to make them go premium. For example, there needs to be a lot of features available to watch full-length movies, but concealing it to ‘only for TV Series’, these will help the app owners to generate a moderate amount of revenue. To accomplish this make sure you have an enticing and active concept that is implemented in the app.
- Subscriptions in the App
Subscriptions in the app are also the best way to monetize from the mobile apps if your service is one of the hot services and on-demand services in the market that is often required by the customers and many new users then you can easily make money even if there aren’t any services used by the customers. A survey reveals that many apps having subscription plans are generating continuous revenue from their users.
The concept is to make them subscribe to the services provided by you and generally, on-demand services’ subscriptions will include a small amount of money. The users can use the app for some time and then asking them to subscribe to use the unlimited features that are in the app. This is one of the proven strategies that work best for the app owners to make revenue. This even helps with promoting the app.
Apart from the tips shared here, there are few other ways where one can make a lot of money, but the person needs to be well aware of the current scenario of the market and they need to be adaptable to the trend that the market holds for the value. For instance, dating apps are one of the hot topics in the town everywhere. Introducing the premium version on this app will surely help the owners to make a lot of money from the users and it isn’t a big deal from the users’ perspective either.