Gone are the days when one has to engage in office work or menial job to earn a living. Nowadays, people are smiling to the bank by developing apps and monetizing it. Here are ways an app can fetch you money.
1. In-App Ads
One of the most effective and easiest way to earn from an app is to feature advertisements on your app. When you own an app all the views, clicks, nature of the ads will generate revenue.
As video ads will fetch you more when compared to banner ads, Interstitial ads may get you more money as they will pop up anytime in between and occupies the whole screen. You must ensure that it is kept short and informative.
2. Paid Apps
While some apps keep a pricing tag for downloads. It does make sense as they have spent a lot of time and effort to build an app they wouldn’t want to keep it for free.
But there are side-effects for this as many people are used to free versions they would think twice before spending on app downloads. The downloads count may be less for the paid versions.
3. Sponsors
Connect to sponsors that are targeting a similar audience as they will more interested in your app to reach their customers. Through this approach, you and your sponsor both will benefit.
As an app owner, you will gain from your sponsors brand popularity and web traffic. This strategy is more likely available for the apps that already have users.
4. In-App Upgrades
Majority of free version based apps attract users by offering premium level products like app-based merchandise, advance level upgrades, virtual stuff etc. As a user gets addicted to an app they wishfully spend money without any hesitation.
This kind of revenue generating strategies is growing day after day and will be seen more in further days to come.
5. Subscriptions
Although it is not a very appealing strategy to introduce a paid version of apps, at the start you can launch your app on a free trial version for a certain period of time and can charge it from later. As the users will be addicted to your app they would want to pay you the subscription charges for further usage.
For this to be successful it must offer unique features, where no other app can give if not so customers may find some other alternative free version to replace it.
Conclusion
If your app is successful, automatically the companies will pay you tons to advertise their products. Creating apps that are compatible with multiple mobile operating systems like cross-platform mobile development results in significant cost reduction and growth in app revenue.
Don’t overdo on things as by concentrating more on making money from other sources, you may make your users feel bored which in turn may affect your overall app performance.
