You are reading: How to Make Money from Mobile App Development
As of 2016, the global app has been over the top and kept its economy grow. It reached more than 2 million in Apple’s App Store and Google’s Play Market and constantly rising. And even today, the app market never showed signs of slowing down.
If you read the previous article on how to create a mobile app for business, perhaps you already had the idea of how to create an app. The next thing to do is to learn the monetization methods that you can use to capitalize on your own app.
How Does Free Apps Make Money?
Advertising
it is one of the best monetization methods for app development. Mobile advertising is another term for marketers to introduce and gives information to the consumer about the products or services they offer. There are 4 different types of advertising such as:
Banners or Display Ads
It is an online paid advertisement that creates engaging images, photos or text that usually appears at the top or bottom of the screen. Creates click-worthy ads for viewers that leads to a corresponding landing page relevant to the brand or company.
In-App Video Ads
These ads are automatically displayed on the screen as the users interact with the app, typically used as a reward video or an exchanged for in-app reward, extra lives and additional features after watching the video add.
You are reading: How to Make Money from Mobile App Development
Native Ads
When you are on a Vlog you see a little section below the content post where it says link around the web. Native advertisement is actually ads that look similar to the content around them.
Most advertisements are difficult to pull off as more people are becoming blind to it. The best way to get noticed is actually to blend in. An example of this is a Facebook newsfeed ad. They look exactly like status updates and show right up in the newsfeed.
E-mail Marketing
It is the most important and underrated digital marketing channel. As we all know, not everyone has a social media account except for everyone has an email address.
Email marketing is a way of sending emails to potential customers promoting business. It is one of the powerful tools used to monetize an app.
Sponsorship
It is a great way to fund mobile app development subjected to non-profits and small businesses. These offer brands a more integrated presence more than advertising.
Sponsorship can raise the brand impact measure like awareness and purchase intent. It is 1.5-2 times higher than in general mobile advertising and 30-50 percent higher than standard in-app ads.
There are two main types of sponsorship deals. Either both the sponsor and the app developer agreed to split revenues generated from the app. Or to pay a monthly sponsorship fee for the app maintenance or usage.
Subscription
It lets you pay to access content from an app or service for a period of time. With a free app with restricted content allows users to access subscription-based services within an app on an ongoing basis.
As a developer, you provided users with a free trial and charge for a subscription fee afterwards to access the app without restrictions.
At some research, a subscription-based app generates more revenue and has more engaged users than in a mobile advertisement.
You are reading: How to Make Money from Mobile App Development
In-app purchases
is a way of buying goods and services inside the app. These include buying extra bonuses, unlock game levels, premium content, most often buying game currency and a pack of goods.
These help you generate good revenue. An example of this the “Pokemon Go” where users spend over $1.5 million a day on in-app purchases. As well as the “Clash of Clans” game that earns $1 million a day on purchases.
Freemium upsell
Basically a word blend means “free” and “premium”. It is a pricing strategy where a product or service is free of charge. Instead, the money is charged for some additional features, services, and goods that expand the functionality of the free version of the software.
For example, you are listening to the new release album song of a Kpop Idol from ‘Spotify’. The mobile app is free but contains ads.
Free mobile apps have many ways to make money. Although it took some time to plan and good marketing tactics. Just follow the tools with reference to the subject above.
In addition, advertising is the best app monetization method, still, it better to mix it with an in-app purchase and Ads. Also, don’t overuse app monetization.
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