While developing, apps can be fun and entertaining, most people will want to use their apps to start earning money. It is possible to generate income from free apps by using advertising properly. App developers can also choose to sell their apps to small companies for a set fee or for a commission of eh revenue that is later generated.
The key to making money with any app is to offer an app that is appealing to a large array of audiences. Innovative apps will draw the attention of many more potential customers, so it is important to make sure the app being offered presents something new and exciting to the user. Once an app has been created, the next step to making money is putting it out there so that people can access the app and make in-app purchases. Having a marketing strategy is the key to success here as is media buzz. Developers will want potential customers to quickly hear about the app and have easy access to it.
Strategize to Earn
Every successful app has a successful marketing strategy, so it is essential to choose strategies wisely so that the most money can be made. One of the most popular strategies is Freemium, which is actually a pricing strategy. With this, the app is offered for free and can be downloaded by any user. Developers will generate their profits by offering proprietary features, virtual gods and increased functionality, which will all come at a cost to the user.
Many newer apps will be restricted when they are offered for free, meaning there will be limited levels in games, limited capacity, limited support and other limitations that will make users want to spend some money to enhance their experience and get the most from the app being offered. With the Freemium pricing strategy, the app is offered completely free and all added extras will incur a cost to the user.
Aside from offering an app for free, it is also possible to offer it for a one time fee. With this strategy, users will pay up front for the ability to download and access the app, offering an instant way to generate profits. Unfortunately, with a paid app, there is no repeat revenue. Once the app is paid for and downloaded, developers will have to wait for a new customer to earn more profits. There is also the option to use paid apps with paid features. With these, the app is bought and users will pay to access other features that are not offered with the base app.
With paid apps, it is essential to choose a mobile advertising platform wisely. Developers will want to make sure the app reaches as many potential customers as possible, so advertising will be the way to go. An app can be advertised on social media sites as well as search engines and it can also be advertised in other apps through banners and links. With the right platform, the app can be monetized, increasing revenue and also increasing the viewability of the app.