How To Make Money From Your Free Mobile App?
You have an amazing app idea but you do not know how can you make money from it. Feels like such a disappointment. Isn’t it?
I may not have made any million-dollar apps myself, but I have definitely made Million dollar Apps for my several clients.
We Know There are so many free Apps Out There. As Per Statistics there are more than 3.5 Million Apps on Android Play Store and More than 2 Million apps on Apple App Store and Most of them are initially Free to download.
Now the question is, how these Free apps make money. They, of course, have lots of expenses to take care of and most of them are there for a commercial purpose so how do they make money?
Well, Gone are the days when apps use to charge a download fee. Even Whatsapp was among those apps which would charge you even before you could download them. But then a lot of alternatives began to evolve and Apps stopped charging for downloading so that they won’t miss on getting the customer opting for their competitor.
As Charging for Initial Download wasn’t an Option anymore The Alternative source of revenue came into play. Some of these are
Third-Party Adds
Plain and Simple, shows adds from third-party providers like AdMob and every time that ad is shown or clicked you make some money. Some of the Options in this Space are
1. Admob
2. Airpush
3. InMobi
4. LeadBolt
5. MobFox Publisher Platform
6. MoPub
7. RevMob
8. Smaato
9. Tapjoy
10.Unity Ads
Personal Adds
Once your app crosses a certain threshold volume of Daily active users you can pitch indirectly to companies for adds that will help companies get advertising option at lower rates and you will get higher rates than provided by Admob and other publishers. Some such examples are Facebook, Twitter, Seoclerks and several more.
It is like renting your terrace for hoarding, as simple as that. but you can only get paid for it if your house is at a spot where a sufficient number of the target audience would pass.
Third-Party App Instals :
All the new Startups are looking for options to increase their app installs. If you have an app that has a large user base you can contact these developers and show their app inside your app as a banner or send push notifications to installed users and you can charge per install or per click.
Notification Adds :
Ever noticed some random adds coming to you as a push notification clicking on which takes you to a website or another app to download. That’s notification adds.
This option is very profitable and effective if you have a niche audience. because then your notification can be extremely relevant and your conversion ratio would be amazing.
Subscriptions :
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Offer some premium options to paid members and charge a fee for it. Best examples of this model are Freepik and Medium. They let you use the free version up to a certain extent and post that you have to become a premium member to continue using amazing free stuff.
Consumer Data :
In some cases, if you have a segregated data about your customers you can sell them to people who need such data and charge a fee for it.
These are basic options to make money through an app. Now according to what your app is about, there can be other possible ways to make money through your app.
If you had noticed one thing about all these monetisation methods, None of the methods tells anything about what technology is being used. Thus Making money is not a virtue of technology but a virtue of functional requirement of the app. I hope this helps
Anything you would like to add? Please leave comment
About The Author:
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Varun is a Full Stack Developer, Digital Marketer and Founder of multiple startups like Abaxsoft and Mashupcorner and is expert in Planning, Monitoring and Delivering Development and Marketing Solutions for Clients worldwide. To Know more about Varun, Feel free to reach out to varun@jainvarun.in or through any social media channels below 🤗
