Free apps on Android and iOS are mediums that we can use to make a living in the digital side of the world. Advertising and email marketing are just two of the strategies. That you can apply in generating income from these applications. While others earn within through sponsorship and subscriptions.
So, let’s us learn further on how possible it is to make money with a free app?
As mentioned above, app creators can make money in several ways. Here is more explanation on how these strategies make them earn.
It is the most popular income generating tool for your app to make money. Aside from being the most profitable strategy, as are the simplest way to monetize. By letting businesses place commercials in your mobile app. And you’ll get paid from these ad networks.
Same is true on how a free mobile game app is designed to generate income. You can get paid in every ad displayed, or when a user will install an advertised app as well.
#2: Email Marketing
We have already heard email marketing as an old tool. Yet it has proven its power in monetizing mobile apps. By simply letting a user provide their email addresses every time they sign-in. This allows you to get a hold of them through notifications. It makes email collection easier for lead generation purposes. In return, you will give users free features which makes it profitable for all parties.
Giving the apps for free but with limited offers or features that are only available for a period of time. In order for the user to gain access and to fully enjoy the product, they will have to pay for the subscription.
Yet, it looks like it gets the least attraction to developers. According to a Sweet Pricing Report, only 5% of the successful app uses this method in bringing income.
#4: In-app Purchases
These are premium content, game currency or even unlocking game levels. Pokémon Go is an example of an app that uses in-app purchases to generate income. Below are the three categories:
Consumable, there is a product that purchased and can be used only once within the app.
Non-Consumable, virtual products sold that can be used permanently in the app. These are like new or unlocking new game levels.
Subscriptions used to provide more valuable features. Or contents in the app for a certain period of time.
#5: Selling Merchandise
This is now very popular since online selling emerges.
The adeptness of the app to build a virtual presence of your store. And let buyers buy straightaway from their phones. Products sold in the different apps also vary. Uniquely developed apps in creating, launching and selling merchandise.
An example is Amazon’s self-service program. It allows a user to publish and sell customized and branded items.
By just creating and uploading your own design and campaigning it using the Amazon tools. And, these branded items will then be produced and sold by Amazon, thus, you will get a part of the revenue. It is actually a good idea since you, as a developer don’t handle the end to end process. You won’t be doing the hassles of the process of payments and fulfillment of the transaction.
Owning a mobile app may sound luxurious. Isn’t it? Yet with the advanced world, we are living currently, possibilities are boundless. Anyone can now create apps for free. And, monetize through different strategies.
But then again, before you will jump into something, take time to learn more. Understanding how it works for you, as well as the process of earning from it, won’t harm you. Remember that little knowledge is dangerous. But with a good amount of it comes with power to succeed.
We are not saying otherwise. Making money can be done in many creative ways and success can be achieved with the right attitude. Creating your own apps to earn extra cash is a great option too. Keep in mind that you’ll have to be at least know if you can’t be an expert. So that, all your investments – time, effort and even money (somehow if you opt to get the paid one) won’t be wasted.