Everyone desire to make money, either it is one way or another. However, people do not rely much on making money online. People do not trust much because of online fraud, cyberattacks, and many other reasons. Do not worry; in this blog, we will give you tips for making money from the free apps. It would be safe, as well as helpful.
There are various ways where you can produce revenue just by creating a seamless mobile application. According to the Statistics Portal Statista, the expected revenue generated in 2017 via free applications was $37 billion. Associated with that, paid apps produced an income of $29 billion.
It is the trend of users not paying for applications, and thus, free apps are the winner.
How can you gain money from Free Apps?
The revenue market for free application is more large-scale and has apps that can help you earn money. All you need to do is follow these proven tactics to establish an accelerated revenue model.
From managing ads to running the affiliate program, earning revenue from free apps is no more challenging. All you need is to choose the right target audience and pitch your application. According to Flurry Analytics, Mobile App usage Rises 6% every year and year.
The Tactics need to follow:
Way #1. Sponsorship
It is the oldest yet most helpful strategy for making money through the free application. Sponsorship in your mobile applications can be a gripping app construct strategy if the app administrator creates the top niche app for a targeted audience and publish it on behalf of another company.
Just like websites, app publishers need to consider sponsors for the target audience. The core building the app, planning a list of organizations and brands that could help from the partnership is a good starting point.
Way #2. Advertising
Approximately, 68% of the companies are operating their business combining with mobile advertising. Thus, you can build a mobile application for making money with free apps for Android and iOS.
According to a report, there are nearly 32.5% of mobile providers depend on in-app advertising. 65% of the users are already using in-app as the nicest monetizing method.
In this process, first, release any ad as per the brand value, and then when someone clicks users install the application through an ad. Native and Banner ads, and interstitial are the perfect reference for initiating record monetization. Interstitial Ads are the ads that cover your complete screen of the mobile. However, you can analyze it or cancel the ad from the top corner button. This kind of ad is effective to attract the attention of users.
Way #3. Referral Marketing
Referral marketing means promoting a third-party product or service as a way to optimize revenue possibilities. App publishers can advertise or sell associate products or services based on the number of clicks or installs. For this, you can do pop-up ads to sell the third party’s app or advertise products.
There are different types of referral marketing principles that publishers use in their expansion
- Cost per acquisition or cost per action (CPA)
In this model, you can help both apps, promote products with pop-ups, or develop apps through an in-app store and make money.
- Cost per click (CPC)
This type of income model depends on the number of clicks on an ad displayed. They present both text and display advertisements that will assist you to make money for the app.
- Cost per view (CPV)
This pattern includes pricing based on the number of ad communications or views on the video. They used video and interstitial ads in their mobile device game to make natural differences within game assemblies.
- Cost per install (CPI)
Cost per install is a comparatively new marketing mechanism and is the mobile equal to Cost per acquisition in the network marketing business. Cost per install is exactly what it appears like – you receive money for each install of the advertised app in your available app.
Way #4. Subscription
Subscription is a different approach to obtain money from your free apps. Here, the app publishers firstly provide you free content and later on asks you for a subscription to have free access to plenty of content once subscribed.
Various applications also provide you a free trial to make you feel included with the application. It is considered to be the best way to build the loyalty of users allowing convenience in converting them for longer work.
A free trial is a nice way to let users experiment with your products. It is supported at the initial level for building a brand identity. So, hire top app developers 2021 to create apps.
Way #5. In-App Purchase
In-App Purchase is quite appropriate to the user’s point of view. It provides extra rewards, virtual money or currency, or any type of premium content for an opening to the next bigger level. You can obtain a mobile app development company to build the business application and build strategies on how to make money creating apps for android. It has a larger scope.
According to a magazine, in-App Purchase generates tremendous revenue.
Way #6. Selling Merchandise
Selling merchandise in the free mobile application is an excellent feature. The various business group, especially from the e-commerce industry are part of merchandising.
They provide gifts like garments, toys, accessories, or any stationery to stimulate the interest of the users. These goods are directly sold through the application through email marketing. The main intention is to encourage the app publishers and give them the versatility to create and upload the best artwork advertising their business products or services.
Now, it turns out to be a clear winner situation for both- app users and app owners. You can hire developers to create an app and then prepare strategies on how to earn money from the app. It is the most trusted and ideal way for companies who understand the literature on how apps make money.
There was a time when making money from mobile free apps was a big questionable idea. Time is changed now so has the industry. People are recovering their cost of building an app and also making a fortune with it.
There are a number of ways present now a days by which you can make money without having to pay a single penny to your app users, while in others your app users generate your revenue.
There is no ‘correct’ method here to make money, but different methods may be correct for different requirements as each method has its benefits and disadvantages.
p style=”text-align: justify;”>Which way you are making money from your free apps, please share with us on comment section.