Everyone thinks how much does it cost to develop an app. Once the app development process is completed, you’ve got to do an important decision before you put it Apple App Store or Google Play Store. Are you going to require users to download it Or will you make it open for free?
One of the purposes, why so many people choose to charge for downloads, is because they don’t know any another method to make money for the app.
After spending so many funds on development, they think the only method to get a return on the huge investment is by charging a fee per download. This is a general mistake
Everyone who is new to mobile application development has a puzzle of How free apps are useful and how they make money. Well, if you see most of the downloaded apps are free apps, and it is essential, a developer can gain profit from their distribution through mobile application monetization
1. Advertising
If you are not displaying any ads in your mobile app, you might be missing out on a great opportunity for monetization. Digital advertising via mobile applications has enhanced conversation among consumers and sponsors dramatically. This is important because the number of users consumes time on their mobile phones, plus, this time is growing every year. Ads can ensure a chance if you gather data about your users as you have the chance to show them highly-targeted ads
2. Subscriptions
Subscriptions can be a truly useful monetization plan. App publishers can choose to provide some amount of content in their apps for a short amount of time and then charge some amount from users in the form of a subscription fee that will enable them to obtain full content without any limitations.
Majority of the app owners are giving free trial offers for a particular time and charge some amount of fee in the form of subscription fee for getting complete content and it is the most popular technique
This type of monetization strategy is frequently adopted for cloud services, audio and video streaming, and online news services.
This new form was designed to boost the app publishers to sell their apps for a recurring fee rather of a one-time cost. But notwithstanding this, only 5% of the most successful apps are using a subscription revenue model or building subscription-based mobile apps
3. In-app purchases
In-app purchases enable to trade a mix of virtual items straight from your app — including extra bonuses, premium content, game currency,
The strategy falls into sections:
1.Consumable – a product that can be acquired and utilized once within the app.
Example: virtual currencies.
2. Non-consumable – a highlighting product purchased for permanent usage, that does not stop.
Example: new game levels or maps.
50% of the best apps utilize in-app purchases technique for getting earnings, and there is so much demand for this in the future. Game developers utilize this mostly due to digital money, used by users to buy in-app content or to open new levels.
4.E-mail Marketing
Although reasonably under-used, e-mail marketing tactic can be really powerful when it comes to monetizing and advertising apps. This technique works by requesting for user e-mail at the moment of login and therefore you have a chance to reach them via newsletters or e-mail notifications. Collecting all customer e-mail IDs in a database may be greatly useful in various situations. In addition, joining a login page for Facebook to your mobile app is also an excellent method to cleverly gather user e-mails. For example, for users who have not used the app until now, approaching them through e-mail may be a great approach to contact and retain them. Also, you should provide users the opportunity to cancel e-mail notifications, because this will make your mobile app more reliable and people will realize that they will not be receiving loads of spam.
5. Collecting And Selling Data
Mobile applications collect loads of consumers’ information, in terms of other app rules or user behavior. All these data are required by several researchers in various areas. This means that app developers can have a chance to know the behavior of users and sell the behavior data of users to these researchers and generates a lot of money. Normally, the data covers users’ social networking accounts, e-mail ids, and personal preferences. There are 2 modes to use this model. Either you can trace the activities of users and sell data to remote researchers and organizations, or you can apply the raw data for your own ideas.
So finally everyone knows about the different ways to make money with free apps and if you want to develop apps then Fusion informatics will assist in mobile application development. We have 18 years of experience in blockchain development, android & ios apps development, Artificial intelligence development, etc
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