The Ultimate Guide on how to make money from apps!July 7, 2019
How much do apps make? How apps make money? How much money can you make from an app? Have you made money by using an app and are looking for ways on how to make money from apps? You’ve come to the right place! App programming has gained a lot of attention in recent years! Thus, naturally, it becomes easier to make money from apps. Keep reading to learn the effective app monetization strategy for your app and the best ways to earn money through apps. You will learn some of the most unique techniques with proven results on how to monetize your app!
The great revolutionary blow of technology happened in 1943 by J. Presper Eckert by inventing the computer. It was followed by another great invention of the internet on 1 Jan 1983. The slow yet efficient advancements kept happening after that. Remember the simple snake game on Nokia 6110 model? The millennials would know better than anyone else! That’s how simple apps existed back then.
Fast forward it to 2008 when the Apple app store made its debut with a cluster of 500 apps, shortly followed by google play store in October 2008!! Imagine how exotic that would have been! Since then, news apps have been persistently streaming into the market. They serve a range of purpose and at the same time earn a good amount of money!
But, how much do apps make? On average, apps make $3000 per month. That’s bound to differ based on your monetizing strategies and the amount of traffic on your app. Certainly, traffic usually depends on the number of downloads. Thus, that’s where the creativity and the uniqueness of your app play the role!
Here we have mentioned two ways. First ones are how to make money from mobile apps by building them and monetizing. Second, are the best money making apps for android phones?
The ways in the image are explained below with appropriate ways to apply them:
How to make money from apps: App monetization
Shocked to find Pinterest on the list? Don’t be! Because Traffic equals downloads! Who says, Pinterest is only for bloggers and you-tubers? The promotion of your app is very much possible and of the utmost importance in order to make the downloads hike. If your audience doesn’t know that your app exists, what’s the use of monetizing it?
So, edit and make pictures related to your app and post them on your business account on Pinterest. Many viewers constantly look for appealing material up there. So, go ahead and make flow charts and memes related to your app. Don’t forget to link your play store/app store download link in the description box. This will not only promote your app but also increase its downloads.
How much money do apps make per ad? If you want to learn how to make money off an app but you have built an app then, online ads are the most infamous yet the best ways to earn money through apps. All the apps, free or paid, make a good deal of money through these ads. Simply connect your app with Google Ad-sense and it will stream ads to your app. These ads that stream on your app have a per click model. Hence, each time your user clicks on the ad, a certain amount of money is put in your pocket!
But, limit much money can you make from an app is dependent on the number of click on ads. Well, the range is around $0.10 per banner ad. However, if you have around 10k to 20k downloads of your app, you can make as high as $300-$500 per month only from ads. But, this greatly depends on the number of active users. Moreover, it also requires your user to click the ads and not simply see it. Thus, this amount can be largely varied depending on the type of audience you have and your monetization strategy.
If you have an app that is updated frequently, then you don’t have to think about how to earn money from apps! You should try subscriptions. In this monetizing method, you can charge per update for new feed, access or anything that make your app more convenient for the users. Plus, it is a regular stream of income for the developer, unlike the premium.
Subscriptions are usually accompanied by a free trial. This enables the user to get a gist of the subscription they are willing to buy. Also, it makes them certain whether they really want to invest in it. If there is no free trial, your app may not be earning as much as those that have a free trial. This is due to the normal unsure tendency of the consumer as to whether the investment is worth it or not.
Another subscription worth considering is an ad-free update. What it means is, your user will be able to access your app without any ads. This is the most interesting thing I came across as a user! Ask why? Because your ad income will simply be replaced by the subscription amount. Moreover, there’s a chance that many users will be interested in these subscriptions. The reason is pretty obvious – Ads are annoying! Thus, more users are bound to get this upgrade. This is indeed a great monetizing strategy. Special for mobile app monetization.
Another interesting and reliable way is providing a premium app which is a direct way to earn money. Premiums are the apps that charge an amount before they can be downloaded. Thus, the amount of downloads is equal to the amount of your income. However, a study shows that premium apps are not the ones that earn millions. They are known to have limited use in the present world.
Only exceptional apps like Adobe Photoshop and Abode Illustrator can make that amount using both subscriptions and premiums. It is a rare case to combine both of these monetizing methods where your user ignores the price tag and downloads the app. In short, premium works in a situation where your app has a very high demand. Plus, who doesn’t enjoy a monopoly? If your app has no competition, obviously your app is gonna do far better financially.
Apart from materialistic things that are sold, there are certain in-app purchases that can aid the effective app monetization. These are basically the extra content that your app wants to offer the user. It is very similar to subscriptions. However, it doesn’t have to be paid for time and again.
What you can do is, give a certain amount of credits as a purchase. Let’s take a common example of candy crush. There are a limited number of lives. You can’t play the game after 5 trials and have to wait for thirty minutes or so. In such a situation, you can sell 5 extra lives for a certain fixed amount. Thus, it will naturally fill your pockets. You can also offer additional tools, skip levels, unlock fun features along with these purchases.
This monetization strategy works best for game applications. However, it is also effective in almost all genres of app development, if executed appropriately. For example: if it is an educational app, certain lessons can be viewed only if there’s a purchase made. You should also read about best free in-app purchases for Android which will surely help you to learn how to make money from apps.
Another instance is, if you have a music app, you can allow let the user access 8D music if they purchase the selected album. Hence, it can be utilized effectively and smartly for various genres.
Do you have some special talent and you know you can monetize it? Go ahead and sell it through your app. Many apps have this shop and merchandise that they sell directly its users. Say, you are an artist who makes creative hand-made stuff. If you can relate it to the theme of your app, there’s a scope for great demand to your art!
Furthermore, you can sell eBooks, PDF, and other materials. Make sure your products are in correspondence to the audience you are targeting. That will earn you extra sales and eventually extra pennies! Some apps have shops that sell specialized products exclusively made for app users.
These products are anything ranging from clothes and shoes to electronics and show-pieces. Since all the products are based on the theme of your app, they are limited. This makes your dedicated users buy it from you and no one else. Thus, it generates income, This is a simple but effective way to monetize an app. You should surely try it out!
If you are looking for a quick way of how to make money from apps without a load of effort then Affiliate marketing is one of the ways to monetize an app. Many big companies like Google, Amazon, Microsoft, etc., offer affiliate programs for bloggers and app developers. All you have to do is, gain the membership as an affiliate and promote the products of these companies on your app. When a user makes a purchase through you, you receive a certain commission.
These commissions aren’t usually too high. But, they surely get you more amount when tried in combination with the ads. A valuable tip while choosing the affiliate programs is, you should try for businesses that need a paid membership for their affiliate program. These businesses are known to bring in a recurring commission for you. Therefore, it is an excellent option. Also, try and select the products that are directed and appropriate for the audience your app targets. Only then, you can make money from this monetizing strategy.
But, note that it is not always possible to earn the expected amount. It can be difficult to get enough sales. Moreover, it requires a lot of effort and is time-consuming. However, if you have great content up on your website and you have gained the trust of your audience it can be a lot easier.
If you are still struggling to find easy ways to make money then you should try one of the most effective ways to monetize your mobile app. As the word suggests, it is “free premium.” Freemium is another great way to monetize an app. Due to high competition, it is not always possible to achieve a monopoly. Thus, the app is free to download and to use. However, certain features inside the app need to be paid for. This strategy is used when there are many alternatives available to the user in place of your own app. Thus, you make it appealing by letting the user use it for free and charging only for certain features. Freemiums are the best solutions to the question – how to earn money from apps?
This monetizing strategy of apps generates income from light users as well. The reason? Once they use your app and like it, they’ll want to access it completely. Though power users bring more income, freemium earns you either way. Moreover, it works best for games and entertainment apps. Freemium is that mobile app monetization strategy, which brings you millions.
This section constituted the best ways on how to make money off an app? But are there ways to make money through apps? We are discussing some links and apps by which you can earn a significant amount of income.
Can you make money by using apps?
If you are thinking you can only earn money by making an app then that’s not true as you can earn money by using apps.
You are probably in doubt that how you can make money off an app by just downloading and using them. There are several apps which pay you money in the form of real cash, coupon, discount offers, etc. some of those are mention below.
Best apps to make money fast:
Google Opinion Reward:
Google Opinion Rewards just requires you to sign in to your Google account. And you will get surveys you based on recent shopping experiences. By just answering all question on survey will get the reward in term of play cash which later you can you use to apps and game from play store
Frapp is for the students. It provides internship and mission to the user. By doing a simple task you can earn paytm cash in your wallet. You just have to upload your college ID card and your image to use their discount and the offers that they give. Also, check out best rewarding paytm cash earning games and apps.
Step set to go is an application that rewards you with free products and discount offered just for walking. As your number of steps increase your level increase you can earn up to 24 points from the app by just walking and watching a few ads. Read more about How to get money for walking and exercising
Swag-bucks gives point by filling out surveys on their site. When you search something using the Swag-bucks search engine, you gain Swag Bucks points which help to redeem a wide variety of prizes and offers.
As mentioned above you can make money by filling surveys, here are some of the best online surveys that pay cash.
All these are some of the best ways for the title “How to make money from apps”. But the next question comes in mind is “How much money can you make off an app”? It is totally dependent on your capability and monetization strategies.
On a final note, we’d like to mention the common mistakes in mobile app monetization. The first one is simple. Don’t charge too much. Think from the user’s point of view and decide the price accordingly.
Secondly, don’t use only one monetization strategy. There is no hard and fast rule where you have to use only one of these ways to monetize your app. Rather, I will suggest you combine these different monetizing strategies as a key to hit your desired income.
Thirdly, don’t use too many monetization strategies. This will only make your app look like a free premium and nothing more. Make sure that there is the perfect balance between your monetization combinations and the quality of your app.
Last but not least, don’t you dare ignore analytics! Analytics is very crucial to keep yourself updated about your earnings, downloads, active users and even issues with your apps. Thus, it will help you make appropriate updates from time to time.
So the question of how much can an app make can be only answered by your tactics. A permutation and combination of these mobile app monetization strategies will lead you to the gateway.
This was all about how to monetize an app and unique ways on how to make money from apps. If you know some more creative techniques, then do mention in the comment box. Stay tuned at dailyjunkies for more related articles.
Thanks for reading!