Ways to make money from your mobile app
There are several ways you should know how to make money with your app. Some of these methods may require you to charge your customers, while others may not.
There is no perfect method or way to make money from your app, and what works best for you depends entirely on the services you offer or your business model.
When you build your app yourself, it is important that you understand how best to monetize your free app and generate some revenue. So, let’s begin.
- This is probably the easiest and most popular way to make some money with your app.
- This works by allowing ads to appear in your application.
- As an app owner, you get paid based on the number of times their ads are shown or click they get and the type of ads you offer.
- When you allow people to show a video ad, you get paid significantly more than a banner ad.
- However, you will need to assess whether your customers have the patience to watch a video ad every time they use your app.
- Not only the type of ad is important, but also the length of time the video ad appears, and the frequency with which you intend to run it.
- These factors will help you hone your ad-driven business model.
- BONUS: One fun way to make money with an app is by not showing ads.
I’m serious! You can make money from your users by offering them a free version of the app by purchasing an upgrade.
There are several platforms for this. The most popular is Google’s Admob.
This feature is more relevant from a user perspective. In this income model, users can unlock some additional features or levels after purchasing an upgrade.
- In this model, the application can offer any additional bonus, any kind of premium content, virtual currency for the game, or unlock any additional level.
- In-app purchases that the owner of the app may offer can be consumables such as virtual currency, or consumables such as advanced tiers, cards, or other types of virtual goods.
- Among the most popular mobile apps, over 50% use in-app purchases to generate income. In the future, the number of such applications will only increase.
- This strategy is based on the freemium model, where you offer your app for free but offer advanced features, advanced levels, or access to premium content to upgrade. Quite a popular model actually!
The subscription model is highly efficient and represents a fair deal for both the parties involved and the developer and user of the application.
This is where your app will be offered to users for free and will be able to access some content at no cost.
Once users start enjoying the app and find some value in their offerings, they can upgrade to a paid subscription that will give them unlimited or staggered access to the app’s content.
Another similar model is that users get a free trial and unlimited access to the application for a limited period of time. After this period of time, users are locked out and they will have to buy a subscription to use the app after the trial period.
In NWICODE, you can use the ” Paid to Application ” feature in the application.
- Another effective strategy, but it only works well if you, as the app owner, can find a sponsor with the same target market.
- Once you get the right sponsor, you can white-tag your app and adapt your app’s design to match the sponsor’s brand.
- The developer will need to create a niche app for targeted users before launching the app on behalf of the sponsoring company or brand.
- Now it could even be your local hairdresser or popular restaurant.
- There are two different ways in which you can complete a trade.
This strategy can be a very lucrative proposition. App developer, in this case, you will benefit from the existing web traffic and brand loyalty that the sponsor has to offer. This can really help you promote your application as you expand your user base.
- The Mobile Affiliate Network is essentially a mobile platform that connects mobile advertisers and partners.
- While mobile advertisers can be mobile application owners or a business that sells a product or service over the mobile Internet, affiliates here run advertisers based on ad performance.
- Here, by joining the Mobile Affiliate Network, you will advertise the related apps, products, or services offered by your partners and earn money from it.
- This income can be in the form of a cost per action, where you can make money every time someone clicks on their ad, installs their app, or performs any other (desired) action.
- The second form is a revenue-sharing model where you receive a certain percentage of the revenue that you managed to generate for the advertiser.
- You can sign up for any of these platforms and your app’s revenue will grow exponentially!
- There is one thing that we will never forget anywhere – our smartphone. Is this good or bad? Well, unlike a wallet that lets you spend money with ease, a smartphone helps you make money! A modern person spends an average of about 4 hours a day on his smartphone – and about 90 percent of this time is spent on a variety of applications. So why not turn that mindless scrolling into cash?
- 90% of time spent on mobile is spent on apps
- Since there are many ways to make money using your phone, it can be difficult for a beginner to know where to start. He begins to ask very logical questions.