How To Make Money From Mobile Apps
It is not unlikely to have your first thoughts of making money when you are looking to develop a mobile application. Why shouldn’t you have it? Today, mobile application development is a top-rated category in the technology market and developers get paid impressive amounts. Application platforms like Google Play store and Apple store also earn billions of dollars in just profits. Take for instance, Tinder which generated a revenue of $407.4 million in only the first quarter of 2018. Let’s go through some of the ways you can earn good from mobile applications.
If you are developing an application for the first time, you might as well consider keeping your application free. Why? Most customers do not like the idea of paying for an application which is completely new to the market, that too, which they have not yet experienced. However, you can still make good money through paid add on features in your application. For example, if you have a gaming application, you can choose to keep certain game character specifications paid such as new attires or a different theme to the game. It can be anything, you just have to think it through!
Add-on features are not paying enough? You can also add advertising bars. Many applications if you notice close enough, have certain advertisements in them. These are usually the major sources of income for any app developer. Take the example of the game, Angry Birds, which was free but managed to earn large amounts through only advertisements. If a lot of people end up using your application, you will be very likely to earn good amounts of money. Possibly, more than app sales. However, be very careful to not overflood your application with too many adverts, users hate that.
We all love to show off what is happening in our lives on social media. With whichever application you create, you can always add an option of sharing your progress on social media or you may even choose to only have a social media application like Facebook, Instagram, and Snapchat. Sharing options will always get you a greater number of users while a social media application can always have in-app purchasing and adverts as they usually have massive amount of users.
While this may add to a barrier to downloads, you can always introduce an advert free paid version of your application. It is very common, and people will still continue using your application as it will not only incentivize them to have all features available but also provide them with a more user friendly application through zero ads.
A lot of app developers also choose to partner with mobile carrier, mobile device or other non-device companies. While this may prevent your creative independence to an extent and get you only a fraction of app revenue, it is a great way to earn through your application and possibly get it recognized too through greater audience. Some mobile app companies like Careem and Uber repeatedly partner with brands to deliver the brand’s products on special days and earn through them. You can do that too, but with a different model!
While, it may be overwhelming to have so many options in front of you, you can choose to start slow with only a few of them. Remember to make your application really attractive, user friendly and you will be good to go!