Who would have thought a few years back that there will be something called a smartphone with the option to download and useful so many apps?
With the increase in the use of smartphones all over the world, mobile app business has become one of the most invested businesses in the world.
All of us have seen the hundreds and thousands of apps but there are only a few large companies who have managed to launch successful apps one after the other.
Otherwise, app stores are filled with million dollar apps which were created by unknown companies on a meagre budget.
So what makes those apps so successful? Are there specific ways to market and monetize the app to get the best from it?
It is definitely not an easy task to make your app a success in the current environment of competition.
Here are some of the ways developers can make money from their apps.
1. Charge for Every Download
One of the obvious ways to make money from your app is to charge every time someone downloads it.
Sounds easy, right?
But it isn’t.
Convincing someone to pay for your app when there are so many other options available especially the free ones, is a really difficult job developers have to do.
It is no secret now that you can actually make lot money by simply putting a download fee on the app.
But the real work that needs to be done for this purpose is extensive planning and execution of monetization methods and not to forget, display of some amazing marketing skills.
2. Create a Freemium App
Mobile apps are usually categorized into two types
Free and paid.
But in fact, there is a third type also which lies somewhere in between these two.
This is the type of category which involves apps that are free to download but do not give you the liberty to use all of its features unless you pay for them.
To your surprise, this category actually includes some of the highest paying apps such as Candy Crush where you get the app for free but have to pay for special features as you progress in the game.
Since the fee for in-app upgrades and purchases is relatively low, you need a large audience for these types of apps in order to count them as profitable.
3. Advertise the App
Another obvious way to let people know about your app is to advertise about it either online or through other mobile apps.
You may find online app advertisement a bit more expensive than the mobile ads but it does pay off in the long run especially to those apps which offer access to a targeted audience. People visit websites and app pages if anything catches their interest.
There are basically two ways to put an ad on mobile devices:
- A banner ad which covers some space and allows users to see other app’s content too alongside.
- Then there are ads which cover the whole screen leaving no space for any other content.
4. Find a Sponsor
If your app is anything but a game then the freemium monetizing method might not generate you revenue instead monetizing through ads will definitely work.
Find yourself sponsors who would want to market their product(s) through your app by putting up either a banner ad or a full screen ad (that runs for specific time period).
This way, even if you give away your app for free, you still have a chance to make money through sponsored ads on your app!
With every passing day, app developers face challenges while marketing the apps and making a profit out of them. Besides immense struggle there are still huge opportunities for you out there with so many attractive monetizing methods, case studies and pieces of advice available online.
Make sure you avail every one of those opportunities if you really wish to make money with your app.The Secrets to Making Money With Mobile Apps by Fizzah Iqbal