You have to make a critical decision after the product creation process has finished before you make it available on the Apple App Store or Google Play Store.
Will you charge consumers for installing your app or provide it for free?
The common misconception is that the only way to generate returns from your app is to charge your users for downloading your app.
However, free apps can generate much more revenue as compared to apps that charge per download.
According to Statista in January 2021, 96.7 percent of all Android applications were available for free.
Find more statistics at Statista
Since the demand for free apps has long dominated the paying ones, most individuals also raise a simple question about how much money apps make. Have you ever considered how to make money from apps?
You download an app from the store and most of the time simply start using it. Developers that give free apps naturally plan to pay in any other way. In this article we will clarity your doubts regarding how a free app brings benefit.
Popular app monetization strategies
Neither Google Play nor the Apple App Store costs for app installs, even though this action has been done by millions of people. Alternatively, stores take a share of an app’s profits up to 30% commission
Thus, it is important to set up revenue sources to earn money from a free app.
According to Statista 49 percent of mobile app developers have been found to have introduced in-app ads for non-gaming applications. In general, in-app purchases of merchandise were used by 79 percent of game users.
Most-used mobile app monetization models according to mobile developers worldwide
According to this the most powerful monetization approach was the use of rewarding video ads, based on observational evidence. This profitable for both creator as well as user, since if the user watches and adds, they earn points and app incentives, and creators earn revenue by running ads.
Let’s delve deeper and check out the various ways of monetizing your free app.
Simple ways to make money with your free app
Advertising is perhaps the most common and easier to introduce when it comes to making money from free apps. And it is all achieved by a third-party ad network. Every time an ad is viewed (per impression), per click on the ad, and when the advertised app is installed by a customer, you will get paid. As a downloadable edition software, for a particular amount of time, you can even run ad campaigns to raise ad sales.
You will get paid significantly more than a banner ad if put up a video ad. However, whenever they use your app, you will have to weigh in on whether your customers would have the patience to watch the video ad. The type of ad is not only significant, but the length of the video ad is also of particular importance.
Examples: Candy crush, Duolingo
By not showing advertisements, one fun way you can raise cash from your app is. You can gain money from your customers by giving them an ad-free version of the app.
There are different channels that do this. The most famous one is Google’s Admob.
In app purchases & Freemium model
A very common method used in the freemium app model is in-app purchase. Digital or physical products may be sold, premium features or incentives offered, advertisements blocked, or new app content opened. The app store handles all these trades and the owner gets a commission on every exchange.
There are three types of an in-app purchase strategy:
Consumable: Often in mobile games, these objects are used once. Example: digital currencies, bonus level points
Non-consumable: these are permanently-used features. Examples: blocking advertisements, in-app extension feature,
Subscriptions: This allows user to access additional features and unlock premium benefits that are available only to subscribers.
Examples: Amazon prime subscription, Memrise language learning subscription
Subscriptions may be a monetisation technique that is very effective. App publishers can opt for a short period of time to provide free content in their applications and then charge users for a monthly fee that requires them to view full content without any limitations.
The popular and standard strategy used by most free app developers is to give people who want to continue using the app content a free trial period and then charge the subscription fee.
For cloud computing, audio and video streaming, and online news services, this type of technique is often used.
Examples: Spotify, Economic times, Google drive for additional storage.
In order to make money off a free app, having a sponsorship is a lucrative model to pursue. For applications that already have daily users, this model is commonly applicable. Apps for a particular consumer segment will achieve the most advantages. Thus, to align their brand with advertisements, details in the app, or tailor the app style to the brand, you can contact sponsors in the same industry.
There are two separate ways that a partnership can be carried out.
1.A proportionate division of revenue
2.Monthly fee for sponsorship
Example: Home Depot sponsorship on the Weather Channel App
Another innovative approach is to sell merchandise in your free mobile apps. Often e-commerce platforms produce free versions that distribute physical goods such as toys, clothes, sneakers, etc. These physical products can be sold directly to the app or via email marketing.
Amazon has started a service called Merch by Amazon to inspire software publishers to use this approach, which encourages publishers to build their artwork, upload it to their website and sell their products. Both owners and smartphone consumers, it is a win-win solution.
Amazon also takes care of the payments and shipping of goods to make it smoother.
Example: Angry Birds gaming merchandise.
With swing2app AdMob plugin you can monetize your app
Swing2App is the go-to destination for app production by people. In addition to creating mobile apps for Android and iOS, it is a flawless app maker site that provides a variety of services.
One of the great advantages of using Swing2App is that you can purchase a plug-in product with AdMob integration. You can add AdMob advertisements in the app after that.
If you have an AdMob account, all you need to do is include the necessary Swing2App information, and the AdMob ads are automatically added to your app. Through Swing2App, all of the advertisement money is shared with the consumers. To incorporate AdMob into the app, Swing2App just charges the installation fee.
AdMob is an incredible tool for advertisement developed by google for rendering streamlined revenues. It ensures the banner space is utilized properly and with appropriate content for the audience to view.
Incorporating in-app advertising monetization models is a popular procedure for app developers. This acts as an excellent source of revenue from free applications that enable developers to earn money. The positioning of banner advertising is strategized in a manner such that the user interface is not spoiled. Advertisements from AdMob are very sensitive, something that draws more people.
Now you might be wondering how much you can earn from this AdMob integration plug-in.
As much as we would like to offer a better estimate with the aid of AdMob for how much benefit you can bag from in-app ads, there is such an answer available. Your benefit percentage from these advertisements also depends on the success and image of your app, as mentioned above. So, to bag big via AdMob from the in-app monetization strategy, make sure that your app does well to get new users.
As of now, as a competitive process, in-app ads still hold the top spot, while in-app sales and payment models are among the other top earning business models.
Each methodology has its advantages and drawbacks, making it important to understand the item you would like to create in the first place.
A well-planned business model, including the sales sources from the application and using a few different monetization techniques concurrently, may be generated based on any industry research. The happiness of consumers and monetary benefits are complementary.
To make money out of an app, you need to build an app first!
Without investing much or wasting months to learn coding, Swing2App lets you create an app. The entire app creation process is quite simple and takes just a few minutes from app creation to final app production.
Without writing even a single line of code, you can build your own app.