The greatest problem for developer is to figure out how to make money out from the app. Among the tons of application available in the store very few make good revenue from their app, today we are here to show you some best methods to make money from your apps, also you can check 10+ Possible Ways To Make Money Online.
There may be many way to make money out from your app but all those will come under below four categories. These are the best type of monetization model to use,
- Selling your app in the app store.
- Offering a free, subscription-supported app.
- Offering a free app, with in-app purchases.
- Offering a free, ad-supported app.
6 Strategies to Make Money from Free Apps
1) Sell your App
This is how most of the app developers make their living but before making your app a paid version thinks twice or thrice whether the app is worthy enough to entertain and engage users.
Pricing is the selling point of your app, so don’t make it as a whole number rather make it as $.99, $1.29, $1.99. Pricing plays major factor in app marketing and this is the reason why many apps in app store are priced at $.99 mark.
2) Include in-app purchase
In-app purchase is nothing but allowing users to unlock certain features which are paid or skipping between levels or maybe coins to unlock powers. When you build an app, you can set IAP for certain features (I want to purchase 20 coins for $0.99), which means you can purchase that over and over to move to unlock next levels.
- Most Popular: How to Make $$$$ Every Month Without a Blog?
This can easily rack up your revenue in few weeks but you need an incredible app that can justify it. Not all app can make revenue using IAP.
3) Make it Free
It may seem wired, because how a free app can will generate income? This is a tricky thing to increase the app install at start, if a user downloaded your app and impressed with it, he will definitely refer his friends to install the app. So automatically the install count and ratings will increase that result in moving up in category while user search.
4) Cross-Market your App
Ask fellow App developer of different platforms to promote your app like an Ad-exchange program with their app. This may not directly related to making money from your app but it will increase the reach and download count of the app.
Also consider different forms of marketing techniques like Affiliate marketing, PPC to raise your download count.
5) Ad-Supported App
Monetize your app with Adsense or similar Ad-network. Getting approved for Adsense is little bit difficult task but once the account gets approved you are free to place Ads on your app and start earning money out of it.
Before placing the Adsense code in your app, make sure you don’t violate their policies, because violating their terms & conditions may lead to instant account ban.
6) Make improvement based on Analytics
Make use analytics data to study the mind set of your users like how they found your app, user movement on the screen, your competitor analysis etc. And make use of all those data to improve your app to next level.