These days it is very easy to earn money from your mobile app. With a bit of luck and some hard work, it can be done by anyone. Whether it’s a small side hustle or your entire monthly income, monetizing apps has never more profitable. Now you might be asking -“Aren’t e-commerce apps like Flipkart and amazon the only ones that generate profit?”. Well, no – actually, far from it. These days, there are multiple ways you can earn money from your mobile app; and we can show you how. If you’re new to the market, looking to enter it, or have a fresh idea for an app, one of your first questions is likely along the lines of “Can you earn money from your mobile app?” The answer is Yes.
Some methods of monetization are simple, some a little more complex, but all can work wonders. Below, we’ll take you through some of the most common ways to monetize an app.
In one time paid applications users to pay just once to download the app. After that, all the features on the apps are free along with the updates. So how do you determine if you should make your app to be a paid one? Most paid apps offer the core value or utility in the first download, followed by minor additions or design and usability enhancements. Most utility apps fall into this category. Like photo editor or pdf reader.
For launching a paid application, your mobile app should be useful enough for users to pay for the download. The downside of it is that you’ll require new customers each time in order to earn money from your mobile app.
In this model, the mobile app is free to download but to use its service, the user needs to pay a monthly or yearly charge. This model at a glance looks very desirable as you, the owner of the app, don’t have to generate new customers often. The previous customers will keep paying for the services of your app. The downside of this will be that the service that you provide has to be top-notch. You also need to make sure that there are no free alternatives to your service. Netflix and Tinder are the best examples of apps which uses this model. This method is a little bit sophisticated but, if you provide service like no one else, people will definitely pay. You can easily earn money from your mobile app with this method.
In this model, the mobile app is completely free along with all its feature. The user doesn’t have to pay any money to use the app. So now you must be wondering how does the owner make any money from the app? The answer is ads. Yes, believe it or not, ads are huge revenue generators. All social media giants like Facebook, Instagram and Twitter follow this model and makes billions every year. Even YouTube and Google follows this model. These companies use sophisticated algorithms to serve users ads according to the user’s behaviour. This makes them huge profits because, that way the users are more likely to buy that product. These social media companies make money from other product-based companies that pay them to show their ads on their platform.
This model is highly successful as the user doesn’t have to pay anything and people always like free products. One major downside of this model is the user base. If the number of users is not sufficient enough, the app might cost more to make and maintain than generating any profits.
Mobile games are another kind of mobile apps that has started to gain popularity. They have even surpassed computer and console games in terms of revenue. The popularity of mobile games has increased due to their casual nature. As people are getting more and more addicted to their phones, so are they getting addicted to games. Games like Angry Birds and Candy Crush makes millions every year. These games very easy for people to play in their free time. This is what makes them very addicting. Unlike big games like PUBG Mobile and Call of Duty Mobile, these small casual games don’t need big budgets. These games don’t even need dedicated servers for people to enjoy them.
Now if you have an idea for a game, you can choose any of the above-mentioned monetisation tactics. You can make your game as a one-time pay game or make it free and show ads on them. You can even make your game free and then have an in-game store. People can buy in-game items like lives(times they can play after a game-over) which they need to buy using real money.
This is another revenue-generating model which is shown to be highly successful. In the model, you sell products directly to customers. The products, in general, are delivered to the customer’s house. Now you must be thinking that giant companies like Flipkart and Amazon can only have apps. No, in fact even you as a small business can also have an app and make profits. Instead of selling every item, you can be specific to a few products. For example meat, groceries and beauty items. By having an app you can set yourself apart from the competition. With the rise of mobile phones, people will be looking for alternative ways where they don’t have to go out and buy products. That’s where you come in and deliver products directly to their homes. You can charge a small delivery charge from the customers, and trust us people will pay for the convenience.
If you’re a business or an individual from Guwahati with an idea from a mobile app or game, contact us or give us a call. Our team will help you to make that idea into reality. You can also view our portfolio here. We will create the app and handle all the above-mentioned monetisation techniques for you.
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